27.9 C
Singapore
Friday, October 7, 2022
Ads

MAN SAYS NO POINT BUYING A CAR FOR EGO, JUST TAKE GRAB CAUSE IT IS MUCH CHEAPER

Just by thinking about how long you will need to work in order to earn the amount you need to pay the car loan off.

Advertisements

Buying a car is a huge turn-off but many people who don’t even need a car are buying it to fuel their Ego.

Am I better off spending that $1000+/mth elsewhere?

e.g. Car ~$73,000, monthly income ~$3,800. Are you willing to trade about 19 months of your life just to own a car that will last you 10 years? Then trade some more of your life to fund ownership costs?

99% of the time you can grab anywhere every day (even if more than to and from work) and still come up spending less per month.

I used to own a car for convenience, which adds up if you make more than 2 trips a day. Plus I bring my dogs around. Plus I really appreciate sleeping more each morning before work, which is relatively near but difficult to travel to by public transport.

Advertisements

Even if I grab (assuming 2x$20 )a day, it only works out to be ($40X5 working daysX4 weeks) $800 a month. Not to mention the fact that I can choose to take public transport on some days if I want to. It’s probably a more financially woke idea to not buy a car. Unless you really need it xd

Is owning a car a bad financial choice in Singapore?

I can grab/gojek to work and back every single day and it still costs less than owning a car. The other potential uses for a car just don’t add up to justify it.

A car is good if you can afford it. Problem is, that many people think “affording” it means being able to meet monthly instalments and maintenance. I already have a few friends in trouble right now. They could meet the monthly payments, but those amounts were also a big chunk of their now non-existence pay.

- Advertisement -
- Advertisement -
Latest News

EMPLOYEE FOUND OUT COMPANY HAS BEEN SPYING ON HIM THROUGH PERSONAL PHONE

Been in a company for close to 1 year, and after I tendered my resignation letter, it was revealed...
- Advertisement -