Total asset vs car price affordability

[Thaiyotakamli]

Just curious, at what price level of car price you will be able to afford at different total asset scenario. 
 

the three diff question shows at 3 diff stage of total asset scenario. BMW means public transport. 

 

assuming total asset include your residence, investment, cash etc minus off loan. 

[1fast1]

In before "afford=full cash hor". 😁

[BanCoe]

4 hours ago, Thaiyotakamli said:

Just curious, at what price level of car price you will be able to afford at different total asset scenario. 
 

the three diff question shows at 3 diff stage of total asset scenario. BMW means public transport. 

 

assuming total asset include your residence, investment, cash etc minus off loan. 

Only max up 3.1m ??? Huh 🤔….. so many MCFers here  asking 1 🤣…….. must ask my Big Bosch @Mercs🤣🤣

Edited October 20, 2022 by BanCoe

[ER-3682]

$1 Million in Asset including House,Cash & Shares is nothing,1 good Area HDB Resale can easily exceed $1 Million.

[ER-3682]

If you are middle Class,spending too much on a Car in Singapore is a stupid Idea,remember the price of a Car,alot are given to Gov't,COE,Import Taxes & so on.

[Soya]

Asset benchmark too low

Sifu told me in MCF, it starts at 5M. And that's juz to take bus

 

[Ct3833]

MCF all very rich, I cannot find my category here, negative asset how to choose ? I am still paying lnstallment for my house, car, refrigerator, TV etc, how ? 

Edited October 21, 2022 by Ct3833

[Fxfx]

Even with 1m of total assets, I feel it would be much better to put the money to better use (investments). Whatever you spend on a car is easily going to cost you (including opportunity cost) at least double of your total outlay, if not more. I am extremely conservative so roughly 15k monthly salary to buy an entry level japanese car is about right

[Ct3833]

15k income to buy a car is not extremely conservative, wait till you meet the extremely conservative. Some people call them kiam siap🤣🤣

[Soya]

14 minutes ago, Ct3833 said:

MCF all very rich, I cannot find my category here, negative asset how to choose ? I am still paying lnstallment for my house, car, refrigerator, TV etc, how ? 

Ahemm....take SBS 170 to JB 

[Ginyu]

55 minutes ago, Soya said:

Asset benchmark too low

Sifu told me in MCF, it starts at 5M. And that's juz to take bus

 

Normal la, 30M also take bus 😂 

[Macrosszero]

1 hour ago, ER-3682 said:

$1 Million in Asset including House,Cash & Shares is nothing,1 good Area HDB Resale can easily exceed $1 Million.

Should consider if the property is already paid off. If still paying off a mortgage then there’s still financial liability with definite upside potential

[t0y0ta]

6 hours ago, Thaiyotakamli said:

Just curious, at what price level of car price you will be able to afford at different total asset scenario. 
 

the three diff question shows at 3 diff stage of total asset scenario. BMW means public transport. 

 

assuming total asset include your residence, investment, cash etc minus off loan. 

20-60k means what? The purchase price of car?

[t0y0ta]

6 hours ago, Thaiyotakamli said:

Just curious, at what price level of car price you will be able to afford at different total asset scenario. 
 

the three diff question shows at 3 diff stage of total asset scenario. BMW means public transport. 

 

assuming total asset include your residence, investment, cash etc minus off loan. 

A lot of assets may not be able to afford car.

If one's 1million is locked up in his 3 bedroom condo that he is living in.

And his monthly salary only 4k

Then he confirm should only do BMW via ezlink card

[ER-3682]

1 minute ago, Macrosszero said:

Should consider if the property is already paid off. If still paying off a mortgage then there’s still financial liability with definite upside potential

Usually those who bought those over $1 Million Resale HDB are People who Downgrade from Landed or Condo En-Bloc..so all pretty Cash Rich.

[Ct3833]

26 minutes ago, t0y0ta said:

20-60k means what? The purchase price of car?

So low, of course down payment lah. 20k to 60k can't even buy a COE.😅😅

But it does not matter how much what, Yolo, happy就好

Edited October 21, 2022 by Ct3833

[Fitvip]

All the three scenarios are not important. As long as one can full cash the car, fuel ten at the petrol pump without having to cheat on parking OK liao.

[Arogab]

Not fair to do this survey. I only input base on myself's way of life. 

Lower, BMW. Higher, higher car price. But there are lots of people opposite. Live in Semi D, drive Corolla. Live in HDB, drive Porsche 

Some more, don't forget, some people make $2,000 a month, but got company vehicle to drive. No need to BMW and buy too