Kusje Supersonic July 8, 2019 Share July 8, 2019 That's very real, in today's context. Parents passed away, children fight for share. Very common case today. But one have to strike a balance in spending. I can see many borrow heavily and ended broke. These days still got rich people die without a will meh? ↡ Advertisement Link to post Share on other sites More sharing options...
Spurman Supercharged July 8, 2019 Share July 8, 2019 Yes each to his own. But the most silliest would be someone who does not indulge in any "pleasures" with their hard earned money, just so that they could build a huge nest egg for their kids, who upon the old man and woman dropping dead, show no appreciation and go on a spending spree, to indulge in the very pleasures, that their old folks sacrificed. Trust me, there are many in this category. "I think we can all agree that spending more than your annual household income on a car is definitely not the wisest. Any threshold below that, it really depend on your own spending habits." Well if one for example earns 150k a year, has enough funds stashed away through shrewd investing over the years that would have secured one's retirement, kids grown up, approaching retirement / time running out and decides to subscribe to the YOLO concept and goes ahead to spend 180k on a car ? Perfectly acceptable, don't you think? My rule. Each month how much u wan2 set aside for savings. A cool 5k a mth. Means 60k a yr. Might not be a lot. Coz out of these 60k maybe u might throw away 5 10k for urgent spendings or pleasure spendings. Or u can do a 2 tier savings. Say min 5k a mth. Die die cannot touch monies till certain age. And maybe say 1k or 2k more a month for indulgance spending. Up to individual. As said. No point saving n saving when u enjoy nothing. Live like a scrooge. U cant bring all into coffin 3 Link to post Share on other sites More sharing options...
makeanewcall 3rd Gear July 8, 2019 Share July 8, 2019 wow toyota offering 28k+ coe rebates, guess there is only 1 direction for the next coe round of bidding then. 1 Link to post Share on other sites More sharing options...
HP_Lee 5th Gear July 8, 2019 Share July 8, 2019 From what I know of people that I know around, there are many. They range from en-block , self-made and passing down from parents. These days still got rich people die without a will meh? Link to post Share on other sites More sharing options...
Spurman Supercharged July 8, 2019 Share July 8, 2019 From what I know of people that I know around, there are many. They range from en-block , self-made and passing down from parents.I quote myself back in 2005. A poor me. Had that drean to own myself a car. Only on low pay. N with car allowance. Go grab a getz then. My ex boss even subsidised 5k to me for downpayment and i down a bit and even my parents help me to down. As they din wan2 to pay more for interest. It was a struggle later on. Mthly installment i rem was just 395. Road tax i forgot but it was a 1100cc only. That time the young arsehole in me also wan2 zheng. Not to the engine but added bodykits n stuff. Kinda living on every mth paycheck lor. Machiam a slave to car. Luckily 2 yrs later got better salary. And learnt to save up. Told myself never to be so foolish again to not to learn how to save. Never over stretch oneself. U need monies to do that occacionsal travel to enrich. Enjoy oneself. Have that occassional dining session with friends. Families. Have that spares in case of mishaps etc. Have that extra to treat your families n friends. Afterall cars is a depcriating asset and its always good take good financial decisions on it 13 Link to post Share on other sites More sharing options...
Mann123 4th Gear July 8, 2019 Share July 8, 2019 should driving a privilege only the rich can enjoy? Singaporean are well traveled and we have seen how other countries developing a car culture and how car bring fun to people's life. Sadly, our island is too small and too congested, so our wonderful COE system came about. Rich deserves to have better things in life because they are risk takers who been through hardship and make a fortune. But poor also has a right to enjoy life and it is the government job to ensure average joe's life is not significantly worse off than the rich. If the poor can't afford the turbo charged BMW, maybe a one litter small car should be reachable for the masses. It is high time to create a new coe category for the cars that are one liter and below. Maybe govt should issue grants like BTO as per buyer household annual income. One household can apply once in 10 year period. Sound too good to be true right! 1 Link to post Share on other sites More sharing options...
yishunite Turbocharged July 8, 2019 Share July 8, 2019 Maybe govt should issue grants like BTO as per buyer household annual income. One household can apply once in 10 year period. Sound too good to be true right! Gahmen alrdy stated car is not for everyone so obviously they will never subsidise the masses (there are always more poor people than rich people). But they could definitely be more progressive: e.g. family with 2 kids or more could get COE discount increasing with number of children. Household that buy 2nd car shld pay premium on top of COE. Commercial PHV should bid in separate pool from noncommercial private ownership since road usage is far higher. Etc. But all dowan consider. 2 Link to post Share on other sites More sharing options...
Soundphile 2nd Gear July 8, 2019 Share July 8, 2019 I quote myself back in 2005. A poor me. Had that drean to own myself a car. Only on low pay. N with car allowance. Go grab a getz then. My ex boss even subsidised 5k to me for downpayment and i down a bit and even my parents help me to down. As they din wan2 to pay more for interest. It was a struggle later on. Mthly installment i rem was just 395. Road tax i forgot but it was a 1100cc only. That time the young arsehole in me also wan2 zheng. Not to the engine but added bodykits n stuff. Kinda living on every mth paycheck lor. Machiam a slave to car. Luckily 2 yrs later got better salary. And learnt to save up. Told myself never to be so foolish again to not to learn how to save. Never over stretch oneself. U need monies to do that occacionsal travel to enrich. Enjoy oneself. Have that occassional dining session with friends. Families. Have that spares in case of mishaps etc. Have that extra to treat your families n friends. Afterall cars is a depcriating asset and its always good take good financial decisions on it So what car are you driving now? Now that you gain some enlightenment.. 1 Link to post Share on other sites More sharing options...
Spurman Supercharged July 8, 2019 Share July 8, 2019 So what car are you driving now? Now that you gain some enlightenment.. Now a e200. W213. 1 Link to post Share on other sites More sharing options...
Soundphile 2nd Gear July 8, 2019 Share July 8, 2019 Now a e200. W213. Good choice! Your prudent financial management has paid off well! Link to post Share on other sites More sharing options...
HP_Lee 5th Gear July 8, 2019 Share July 8, 2019 We all learn from mistakes in life. Aleast you are aware and change. But sad to say, we are still seeing people over leverage. I quote myself back in 2005. A poor me. Had that drean to own myself a car. Only on low pay. N with car allowance. Go grab a getz then. My ex boss even subsidised 5k to me for downpayment and i down a bit and even my parents help me to down. As they din wan2 to pay more for interest.It was a struggle later on. Mthly installment i rem was just 395. Road tax i forgot but it was a 1100cc only.That time the young arsehole in me also wan2 zheng. Not to the engine but added bodykits n stuff.Kinda living on every mth paycheck lor. Machiam a slave to car.Luckily 2 yrs later got better salary. And learnt to save up.Told myself never to be so foolish again to not to learn how to save. Never over stretch oneself.U need monies to do that occacionsal travel to enrich. Enjoy oneself. Have that occassional dining session with friends. Families. Have that spares in case of mishaps etc. Have that extra to treat your families n friends.Afterall cars is a depcriating asset and its always good take good financial decisions on it Link to post Share on other sites More sharing options...
13177 Supersonic July 8, 2019 Share July 8, 2019 Now a e200. W213. Nice car, your current car confirmed can climb bemjamin shears bridge without any struggle. Link to post Share on other sites More sharing options...
HP_Lee 5th Gear July 8, 2019 Share July 8, 2019 (edited) In a capitalistic society, is normal to see small percentage of higher income bracket. Not only in Singapore. Is happening round the world. Gahmen alrdy stated car is not for everyone so obviously they will never subsidise the masses (there are always more poor people than rich people).But they could definitely be more progressive: e.g. family with 2 kids or more could get COE discount increasing with number of children. Household that buy 2nd car shld pay premium on top of COE. Commercial PHV should bid in separate pool from noncommercial private ownership since road usage is far higher.Etc.But all dowan consider. E200 leh. My C180 can climb, what's the problem with E200? Just that maintenance cost is almost 2.5x of my Cruze 1.6L. Nice car, your current car confirmed can climb bemjamin shears bridge without any struggle. Edited July 8, 2019 by HP_Lee Link to post Share on other sites More sharing options...
Spurman Supercharged July 8, 2019 Share July 8, 2019 Good choice! Your prudent financial management has paid off well! Nvm what i drive now. The life process. Been thru. Also luck and hardwork along the way. My getz after 3yrs drive dep 20k. Got avante next. The good thing about downpayment then was i do not have to top up cash to change. Phew. The avante was also 40k then. And after another 3yrs, the avante traded in for 42k. Those were kind luck.. Link to post Share on other sites More sharing options...
Prataboy 3rd Gear July 8, 2019 Share July 8, 2019 Nvm what i drive now. The life process. Been thru. Also luck and hardwork along the way. My getz after 3yrs drive dep 20k. Got avante next. The good thing about downpayment then was i do not have to top up cash to change. Phew. The avante was also 40k then. And after another 3yrs, the avante traded in for 42k. Those were kind luck.. Indeed. One of the rare cases of making money with the car. I wonder if we will ever witness the $1 COE case again. Imagine all the ADs, PIs and individuals waiting for the clock to pass the hour and not submit a $10K or $20K bid beyond the $1 original bid? Or no such thing. One just submit an expected $10K or $20K bid at the first attempt? Or will the system artificially create a market and automatically value the minimum bid to $10K/$20K just to get bidders to bid higher? 1 Link to post Share on other sites More sharing options...
Mkl22 Twincharged July 8, 2019 Share July 8, 2019 Indeed. One of the rare cases of making money with the car. I wonder if we will ever witness the $1 COE case again. Imagine all the ADs, PIs and individuals waiting for the clock to pass the hour and not submit a $10K or $20K bid beyond the $1 original bid? Or no such thing. One just submit an expected $10K or $20K bid at the first attempt? Or will the system artificially create a market and automatically value the minimum bid to $10K/$20K just to get bidders to bid higher? Ah you insinuating that LTA play cheat and use phantom NRIC to bid? Hahhaha Link to post Share on other sites More sharing options...
Prataboy 3rd Gear July 8, 2019 Share July 8, 2019 Ah you insinuating that LTA play cheat and use phantom NRIC to bid? Hahhaha LTA should change the law to only allow buyers to bid the COE for themselves. Only with the paper secured should the buyers go shop for the car. In this case, the dealers can only quote prices w/o COE. No more guaranteed or non-guaranteed COE or COE rebate nonsense. Not sure if LTA ever explained why this wasnt the case. Link to post Share on other sites More sharing options...
Kia7200 5th Gear July 8, 2019 Share July 8, 2019 These days still got rich people die without a will meh?For LKY case. Even got will, ppl also can turn black to white LTA should change the law to only allow buyers to bid the COE for themselves. Only with the paper secured should the buyers go shop for the car. In this case, the dealers can only quote prices w/o COE. No more guaranteed or non-guaranteed COE or COE rebate nonsense. Not sure if LTA ever explained why this wasnt the case. U think lta care? They only concern whether can meet their target only ↡ Advertisement Link to post Share on other sites More sharing options...
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