A netizen was seen asking online if he or she should purchase a car with the $400 car allowance which his or her company is providing.
Here is the post
First of all, I have never own a car before hence I have zero experience in getting one.
So for me, my job require me to go to different site 2 to 3 times per week. Currently, my company is providing 100% of my grab fare for work which accumulate to $400+ per month.
I really love driving and i wish to be able to drive my family around as well. So I am thinking if i could ask for transport allowance of $400 to drive my own car instead.
What I am looking at is second hand Honda Fit which is roughly $15k. So probably downpayment 5k and pay roughly $500+/- per month.
Other than that I know there is alot of expenses as well like insurance, road tax and etc but I’m not exactly sure like roughly how much would it be every month if i drive 3-4 times per week.”
Replies and comments by netizens
- Your 500 per month is purely the price of the car, other costs are not factored in yet. As reference, i bought a 2y 17k fit last aug so far i have changed my tires, cleaned my catalytic converter, replaced my battery. I have added all costs with excess that can be thought of, so far it comes up to approx 1.3k per month for 2 years.
However this comes with convenience and time saved that could be better used. End of day its up to you as long it doesnt cause you to lose sleep at night. Do as you deem fit. For me, im just checking something off my life tdl and since its 2 years not really much damage to my pocket.
Insurance: more ex if you have lesser years of experience/more claims prior my 1st year 1.9k
Petrol : check fuel prices sg
Road tax: older car pays more tax, can google. my was 720 this year, next year will increase
Season Parking: 120 mscp
Servicing: 60 to 80 depend on shop
Car inspection: done yearly at vicom 64.20 unless changed
Potential traffic flouts: speeding/beat red light
Potential parts replacement: infinite, see your luck.
- No don’t waste money on a car here. Petrol is only getting more expensive, you need to pay for maintenance, parking coupon, fines etc. taking a grab or taxi is much more convenient
- Can try Comfort Delgro, sometimes it’s a bit cheaper, but yes as long as you can claim from work I don’t see an issue. Trust me, owning a car here is actually a debt. Unless you have the means to pay it downright with cash I think better not
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