As much as I can remember, I’ve seen a BMW 1 Series, Lexus IS250, Mercedes C200, and even a BMW 335i Cabrio, which costs about $250k to $300K, all these on OPC plates. To me it kind of makes no sense to OPC a car and save like just 10% off the total price, because 1st of all, if that person is ‘well-to-do’ enough to afford a luxury car, then he/she wouldn’t even bother ‘OPC’ing’ a car just to save that $160(based on $17k on a 10 year loan) a month, right? So that’s out of the question.
Now, it’s either they really really really don’t need a car on weekdays for some reason, or they just prefer luxury(or “Face”) over convenience, not being able to use your car half the time only means it lacks convenience.
Buying a Chery QQ that costs $60k and converting it to OPC with a $17k rebate, will mean that your final price would be $43K. Hence, instead of paying $594 a month on a 10year loan installment, by converting your Chery QQ to OPC, you will end up paying $426 a month, that’s about 30% less.
But if you buy a $200K car, which ends up as $183K after rebate, you’ll be paying $1812 a month instead of $1980, which is barely 10% less. Is that 10% really worth immobilizing your car from 7am to 7pm from Monday to Friday?? For that ‘after rebate’ price, you can probably go for a car that costs $180k, with so much less hassle.
So it kind of bugs me to see such cars on the road, especially when they’re like $200,000 cars. Am I the only 1 who finds this silly?...
This actually shows what some (or rather most) Singaporeans prioritize, and that’s definitely not convenience.