Search the Community

As above, which make and model you would buy with the 220k and why? Can be any reasons..

http://www.mas.gov.sg/News-and-Publications/Media-Releases/2016/MAS-Eases-Rules-on-Motor-Vehicle-Financing.aspx Open Market Value of motor vehicle Maximum LTV* Maximum loan tenure Less than or equal to $20,000 70% (previously 60%) 7 years (previously 5 years) More than $20,000 60% (previously 50%

Was looking at aGS300 last month at advertised price of $115k. Was thinking of waiting aft the 60 days full loan grace period before I check it out as I think price should come down. Juz went in to check and found dealer up the price to $125k!!!! What is happening???!?! R they trying to chop carrot on last min shoppers??

One of our members suggested that one should not buy a car worth more than 50% of annual household income. Most of us widely accepted it as a thumb rule for sound financial stability. To start with, my present car is much more than 50% of our household income.. . Those do not want to tell the %, just join the poll as it is confidential! You may do one SK and one pre-SK series cars. Just to give an example, if my car is 100k, and household income is 200k. then the percentage is 50%

Wow - 5 year loans on cars LTV of 60% for sub $20k OMV, LTV of 50% for more than @20k OMV So how low will the COE go now? And what way round this will be found?

Blog post by sgbluechip: I drive a humble Japanese car which I bought brand new 3 years ago. I paid the full amount in cash and hence no expense on loan interest was incurred. I would like to see if it is worth keeping my car or change to taking taxis on a daily basis. Cost of car: $46,000 Yearly costs:- Road tax and radio: $769 Insurance: $700 (50% NCD+5% police white card for good driving record) Petrol: $1200 ($100 per month. My workplace is near my home but extremely inaccessible, though parking is free) ERP: $20 (I rarely go to town area) Yearly servicing: $150 (I do it only once a year, since I drive an average of 10,000 km per year) Other wear and tear: $200 Parking at home: $765 (No way to avoid this unless you are living in private property) Parking outside home and office: $120 Car wash: $144 (twice a month@ $6 each time) Depreciation: $4,000 (minimum) If I were to drive my car for the full 10 years, it will cost me $40,000. As the scrap value at the end of 10th year is $6,000. Hence the total cost of my car ownership is $8168 per year. If I were to take a taxi everyday to work, it will cost me about $20 daily. That alone will cost me $4,800 a year. Though there are days I am on MC and leave, let