Zanter 3rd Gear August 25, 2014 Share August 25, 2014 I knew it was expensive but I never knew how expensive till I read this. https://sg.finance.yahoo.com/news/true-cost-owning-car-singapore-160000880.html ↡ Advertisement Link to post Share on other sites More sharing options...
Wt_know Supersonic August 25, 2014 Share August 25, 2014 (edited) have not factor in ERP and toll charges to msia leh ... lol Edited August 25, 2014 by Wt_know 1 Link to post Share on other sites More sharing options...
Jamesc Hypersonic August 25, 2014 Share August 25, 2014 I knew it was expensive but I never knew how expensive till I read this. https://sg.finance.yahoo.com/news/true-cost-owning-car-singapore-160000880.html $365,257 over 10 years is $36,526 a year or $100 a day. I am selling the car and taking a taxi everywhere to save money. 4 Link to post Share on other sites More sharing options...
lausai88 Hypersonic August 25, 2014 Share August 25, 2014 it does not include the fines, accidents ... If you use the $$$ to invest instead of buying the car, every year 4% return +++ never end, life so short, just drive lah Link to post Share on other sites More sharing options...
Gaolow 4th Gear August 25, 2014 Share August 25, 2014 (edited) Which is why you pay full cash. It doesn't matter whether you full paid or installment...at the end of 10th..you still loss S$353K to S$365K ...just that you save about S$11K on interest base on the example given in the link..S$11k over S$353K which is about 3.3% for 5 years and if break down further..that less than 0.66% per year.... so ..Full payment or loan better....What do you think... Edited August 25, 2014 by Gaolow 1 Link to post Share on other sites More sharing options...
Zanter 3rd Gear August 25, 2014 Author Share August 25, 2014 it does not include the fines, accidents ... If you use the $$$ to invest instead of buying the car, every year 4% return +++ never end, life so short, just drive lah We all drive just that I didn't realize a entry level BMW 316 cost an arm and leg with a dash of spleen! Link to post Share on other sites More sharing options...
Heartlander Turbocharged August 25, 2014 Share August 25, 2014 I thought it should be calculated this way: 50% downpayment + monthly car loan payment over 10yrs + road tax over 10yrs + car insurance over 10yrs + petrol over 10yrs + maintenance over 10yrs + parking over 10yrs - 50% deregistration value = 81.4k + 93.12k + 7.42k + 12.936k + 26.343k + 12.8k + 21.6k - 15.85k = $239.769k How can we add in depreciation costs and omv costs? 3 Link to post Share on other sites More sharing options...
nazerath Turbocharged August 25, 2014 Share August 25, 2014 You just cannot win. That is why some times I think it is better to buy a house in jb, at the end of ten years at the most drop a bit though unlikely, yes, I probably won't be able to sell, but at least it is an asset n still there years down. I have seen a people driving Benz 320, dragging their feet to the ATM machine to pay for petrol, some with sian faces at their 110 dollars petrol bill. It's too expensive, I am using a coy car now so it is ok, when I recently wanted to buy a car, my family been saying buy assets... Good thing my Coe bid didn't get, so now I got chance to rethink my options. 4 Link to post Share on other sites More sharing options...
Benarsenal Turbocharged August 25, 2014 Share August 25, 2014 It is what it is. Govt has decided as such, so we either have to take the bitter pill, make do without, or try to game the system as best as we can. Like me. I bought second hand car with full cash, renewed COE, monthly expenses only petrol and parking (plus the annual road tax and insurance). Old car depreciation less, and if you maintain it well servicing costs are also kept at a minimum. Older cars also have less complicated parts to repair compared to modern day cars. 2 Link to post Share on other sites More sharing options...
Jq1988 4th Gear August 25, 2014 Share August 25, 2014 Life is short, enjoy while you still owned a car....later after scrap car baru sakit hati. Link to post Share on other sites More sharing options...
Hamburger Hypersonic August 25, 2014 Share August 25, 2014 life is hard enough, why ponder more.... 1 Link to post Share on other sites More sharing options...
Wt_know Supersonic August 25, 2014 Share August 25, 2014 (edited) A buy car and drive home <> office low milleage low maintenance low petrol B buy car and drive to work, frequently go out cheong & party, go whack at msia NSH, high mileage high maintenance high petrol who has higher cost of ownership in term of using the car or owning the car in order to use it? Edited August 25, 2014 by Wt_know Link to post Share on other sites More sharing options...
Quirky 3rd Gear August 25, 2014 Share August 25, 2014 I knew it was expensive but I never knew how expensive till I read this. https://sg.finance.yahoo.com/news/true-cost-owning-car-singapore-160000880.html They double counted omv/arf/coe inside the 50% dp and loan. Otherwise, could have been really convincing. 1 Link to post Share on other sites More sharing options...
inlinesix Supersonic August 25, 2014 Share August 25, 2014 There is nothing to beat shear driving pleasure from car ownership despite not driving an ultimate driving machine now. 1 Link to post Share on other sites More sharing options...
Friendstar Supercharged August 25, 2014 Share August 25, 2014 My way of calculation is very simple. Served me well these years. Car price x 2 Actual cost of ownership for 10 years. Link to post Share on other sites More sharing options...
Throttle2 Supersonic August 25, 2014 Share August 25, 2014 I thought we have a thread which shows how much each and every one spends on their cars per year, including depreciation. Its no secret that a standard B&B car sets you back easily $15k - $20k per year including depre. 2 Link to post Share on other sites More sharing options...
kobayashiGT Internal Moderator August 26, 2014 Share August 26, 2014 $365,257 over 10 years is $36,526 a year or $100 a day. I am selling the car and taking a taxi everywhere to save money. I think i will only buy a car, if i can earn extra 100 bucks a day to sustain it. if not it is a depreciating liability. Link to post Share on other sites More sharing options...
RadX Moderator August 26, 2014 Share August 26, 2014 http://www.mycarforum.com/topic/523867-cost-of-car-ownership-in-sgp-per-year-wats-yours/?hl=%2Bcar+%2Bownership discussed since nong nong ago.....haiz... locked ↡ Advertisement Link to post Share on other sites More sharing options...
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