Costs of owning a car as a Full-time PHV driver

[kennyyy]

Thing is, I am a full time investor and have the whole day free, while family members are usually only around in the early mornings/evenings.

 

Can easily monitor my investments while driving. 

 

U monitor ur investments while driving? If suddenly ur investment plunge, then other people's life might plunge together with u wor. Bro, pls dun do tat.

 

Just curious ,, r u really the one who posted the driving on 1st lane, speed limit thingy (I saw some ppl commented here in this thread but couldn't find that post in this forum due to my mcf searching skill not so gd)

[Kopites]

With reference to what TS mentioned about his financial status, it feels more like insecurity without a full time employment.

 

So getting a car and driving grab as part time does seem prudent. The question is how to manage it the best way.

I would suggest TS to get the require licence (those phv license) and put inside the drawer. I am not joking. At least TS know he has something to fall back in future.

 

At this point of time i don't see the vaild reason of him driving a PHV just to pass time.

[valian]

He's just a troll, doubt he even knows about car ownership. His Parf he just took 10% of car selling price lol. How is fuel cost measured by hourly basis

[kennyyy]

He's just a troll, doubt he even knows about car ownership. His Parf he just took 10% of car selling price lol. How is fuel cost measured by hourly basis

 

Haha,, true, fuel cost by hrly basis nt accurate. I hav a true life funny story regarding this, just for laughs.

 

Last time my camp gt 1 Master Sergeant go and buy a 2nd hand Merc (1980s Merc 200, i think so, very old car). He always walk from his Unit to the cook-hse instead of driving there (abt 1.5 or 2km, forgotten). So 1 day we ask him:- "Master, y dun u drive there, then also can tongbang us la". Then, instead of him saying things like "not far mah/exercise la/etc etc", his reply was:- "EH Siao-Eh, I drive from Unit to Cook-hse and back Gor-Kor ($5) ok!"   

 

Ok, sori guys/gals .. i kw my topic out of thread .. pls chat bk to original TS's ques. Cheers!

[Club21z]

I'm surprised that he can come out such detail calculations yet cannot make a decision.

 

Anyway the ans is sure bo hua. Just get a old used car for testing to minimise loss.

[Aventa]

I would suggest to rent a car for 1 month to test water, or even try out hourly basis car rental companies. A car lasts for 10 years (Assuming you want to make full use of the first COE). Do you foresee sustainability in this field for the next decade?

One might not constantly earn $20/hour until year 2028. As mentioned by some bros, few months back, earnings was $32/hour.

 

What if utilizing your car for PHV is no longer viable to sustain your car? You have back up plan? Or ready to make losses and sell the high mileage car?

If I were you, if really have to buy car, I'd buy cars with 1-2 years left.

 

Cheers!

[dnumde]

Hi.

Im not here to make a decision for you but my Dad is in the same dilemma.

 

Things to consider when buying 2nd hand car for PHV

Pros

Usually lower depreciation. Some as low as $400+/month

Lesser loss if car is totalled

Lesser losses when selling

 

Cons

Taking chances of car breaking down.

Break down = Income loss + repair cost + Higher depreciation if you count the days that you cant drive

Breakdown rate is pretty high if you are on the road alot.

So if you decide on 2nd hand car, try to buy something that have cheaper parts and try to get it from a more reputable seller

Aircon spoil = Cannot drive under Grab regulation. Easily 200+ for 2nd hand compressor and 500 for new one

 

 

 

New car

Pros

Lesser chances of breaking down

Get from AD that provides 5 years warranty = less losses if it break down during this period

Newer car have better fuel efficiency if ceteris paribus

Now COE is quite reasonable, if COE shoot in the years to come, can sell for a profit if retirement is in mind. But this works both ways.

Can get about the same level of depreciation if drive till scrap

 

Cons

Higher depreciation if not driven till scrap

Car highly likely to breakdown after all the high mileage after 5 years

Will sell at a loss due to high mileage

 

The above is our consideration.

If you need to know, we decided to buy a new car after my Dad have tried 3 2nd hand car.

It is not the best decision but it saves us the hassle of looking for car every 1 year or 2.

Plus the biggest problem is when the car break down. We got from reputable seller but even they cannot promise on the car quality. And without warranty, car ownership for PHV driver is a big headache even when there are minor hiccups like the car shaking too much when stationary or aircon being not cold enough resulting in negative feedback from passenger.

 

 

 

On a side note, I hope that passangers can be more gracious and forgiving to PHV drivers, many of them are just old folks trying to get by.

Although we are all paying customer, but lowering our demands and expections on fellow Singaporean can help create a better place for all of us. :)

[Ysc3]

got a friend who just bought a pte condo unit, got married and a bought new Honda shuttle and also just change job.

 

his job is 8:30-17:30 x 5 day week.

 

weekday he gets up at 5am every morning and drive grab until 7am + before going to work.

 

after work, he drives grab until about 9pm +.

 

Saturday, he drive a whole shift of grab.

 

sunday he rest.

 

he tells me that the "grabbing" he does is enough to cover the ALL cost of maintaining his car, and he should be able to settle the car loan in 5 years.

 

that will leave him his/wife salary to pay for the condo.

[kennyyy]

got a friend who just bought a pte condo unit, got married and a bought new Honda shuttle and also just change job.

 

his job is 8:30-17:30 x 5 day week.

 

weekday he gets up at 5am every morning and drive grab until 7am + before going to work.

 

after work, he drives grab until about 9pm +.

 

Saturday, he drive a whole shift of grab.

 

sunday he rest.

 

he tells me that the "grabbing" he does is enough to cover the ALL cost of maintaining his car, and he should be able to settle the car loan in 5 years.

 

that will leave him his/wife salary to pay for the condo.

 

Woa, wkday wk from 5/6am - 9pm. Mon-Fr sleep abt 6hrs or less I suppose. Part-time job $ pay for car, Full-time job $ pay for Condo. Like tat I rather lives in a HDB. Well, but then, alot Singaporeans, always want to let ppl see tat they live in Condo to look gd.

 

Ok la, everyone hav their own preference on the way of life. Just chatting, nt criticizing ur friend. 

[Cheesey74]

got a friend who just bought a pte condo unit, got married and a bought new Honda shuttle and also just change job.

 

his job is 8:30-17:30 x 5 day week.

 

weekday he gets up at 5am every morning and drive grab until 7am + before going to work.

 

after work, he drives grab until about 9pm +.

 

Saturday, he drive a whole shift of grab.

 

sunday he rest.

 

he tells me that the "grabbing" he does is enough to cover the ALL cost of maintaining his car, and he should be able to settle the car loan in 5 years.

 

that will leave him his/wife salary to pay for the condo.

 

If i am to slog so hard like yr fren for the car n condo, 杀了我吧。 

[AndrewLee72]

They haven't got Kids yet ehhhh

[thebutcher]

Get rich or die tryin'

 

Or get to look rich in this case..

[Inlinefour]

I think TS left out an important factor about the car insurance

 

Normally for PHV policy is much more higher than normal commuting ones

 

Secondly there is a Super high excess too

 

So once you look at your device to check your investment

 

Touchwood kissing others then siao liao

 

Chances of accident is very high cos most phv Drivers are all rushing for more passengers

 

IMHO driving taxi is a better option cos expenses can claim plus heng heng street pickup

 

So don’t have to be so stressful

 

Actually a number of my friends also switch from phv to taxi

 

They said enough liao go home rest

 

At least they are healthier than before

 

Good luck TS

[inlinesix]

I think TS left out an important factor about the car insurance

 

Normally for PHV policy is much more higher than normal commuting ones

 

Secondly there is a Super high excess too

 

So once you look at your device to check your investment

 

Touchwood kissing others then siao liao

 

Chances of accident is very high cos most phv Drivers are all rushing for more passengers

 

IMHO driving taxi is a better option cos expenses can claim plus heng heng street pickup

 

So don’t have to be so stressful

 

Actually a number of my friends also switch from phv to taxi

 

They said enough liao go home rest

 

At least they are healthier than before

 

Good luck TS

For taxi, can always find relief driver to share cost.

 

For PHV, it is best to go into private limo space on top of Grab.

[Galantspeedz]

why people think because a fella do grab as part time means slogging to pay off condo....

 

it could be he just have spare time and don't know what to do with it

[Freeder]

I know of one Fellali driver doing grabhitch...

But only hitch one particular rider..

[Cheesey74]

why people think because a fella do grab as part time means slogging to pay off condo....

 

it could be he just have spare time and don't know what to do with it

 

True for some, but definitely not for the below scenario though.

 

weekday he gets up at 5am every morning and drive grab until 7am + before going to work.

 

after work, he drives grab until about 9pm +.

 

Saturday, he drive a whole shift of grab.

 

sunday he rest.

[RogerNg_185295]

Because all jobs have a status attached to it, whether the person likes it or not.

why people think because a fella do grab as part time means slogging to pay off condo....

 

it could be he just have spare time and don't know what to do with it