I live in Singapore and travel mostly by public transportation; however, I would really love to have a car. I heard it is expensive to have it here, but maybe it is worth? Some people say that even taking taxi everyday to everywhere is cheaper than having a car. Do you have a car? What do you think about its costs, as well as pros and cons?
Singapore - 13 Answers
Random Answers, Critics, Comments, Opinions :
1 :
Think about this. You gonna slave yourself working 8-12 hours (some do it up to 24 hrs) a day to pay for the car which is just gonna sit in the parking lot during those hours that you are working. And which you gonna be able to drive for only 30 to 60 min each day anyway. Plus think about the liabilities and responsibilities that goes with owning a car. Plus the maintenance cost. You are lucky to have a very efficient public transport system in Singapore. Owning a car is not necessary.
2 :
i own a car. an Audi A4 1.8T and i'm proud of it. on the upside, you are looking at: -added convenience -time saving (no need to wait for MRT, bus or cab) -face it. it's prestigious -road tax and COE these days are getting cheaper cos the Govt is shifting towards charging based on usage rather than on ownership. on the downside: -petrol is VERY expensive in Singapore. and especially since roads are relatively short with many traffic lights, petrol consumption is not friendly. -ERP is getting higher (as i said, charge base on usage) -traffic can be a killer during peak hour -parking is a big headache only when you need it (both availability + cost) -car installment. that'll kill you. my cost of car ownership for a year is about as follow: -installment $15,000 -petrol $6,000 -maintenance $600 -parking $1,000 -ERP $400 Total works up to about $23,000. if i take a cab EVERYDAY, it probably works up to about $10,950 (assume $30 per day for 365 days). but do i find if worth it? YES because i love my car and i LOVE the freedom and mobility.
3 :
Not worth at all . Save the money for somethng else . I agreed with ' taking taxi everywhere is cheaper than having a car ' plus you will never need to worry about parking . My father owns a car , I detest going shopping with him on weekends as looking for a parking lot is really a hassle ! And the fact that parking fees are way too expensive in some shopping centre .
4 :
owning a car in sg depends how much cash u can afford to set aside monthly. the optimal choice is obviously to dump a reasonable amount for down payment, followed by perhaps a 5 or 7yr loan. if u cant afford to throw in downpayment, u'd be taking a zero downpayment 10yr loan plan... which will only mean u'd be coughing out more for the monthly loan premium. on average, most driving a saloon car would be expected to offset 1k++ monthly for the car (monthly installment with interest bearing, fuel, carpark, ERP, season parking, insurance, road tax...etc + not forgetting misc for minor repairs/maintenance), those with sedan/ prestige/ MPV/SUV category ones would probably be paying more monthly. nothing is free in sg, in fact everything comes with a price tag, the difference is only a matter of which costs more. suggest u reconsider all the hidden costs before making any wild decisions.
5 :
Owning a car is not worth no matter in which country you're residing. However, Singapore Public transportation is one of the most efficient in the world and I am happy to take public transport everydae :)
6 :
Well owning a car is not a worth. Firstly, most of the vehicles (include Cars) contribute Carbon Monoxide that pollutes the air and the world temperature is rising rapidly. And Singapore is a small country and you can use the Public Transport to travel the whole Singapore (Bus,Taxi,Trains). And you should know, Mrt Circle Line going to operate the service in 3-4 years time. So not worth.
7 :
Well, owning a car is bad for several reasons. One being your personal finances being impacted upon, and the other being that you are not doing the environment a favour. We could go on listing the pros and cons of having a car, but I suppose one thing that is clear is that you can never quantify exactly how much you would incur once you start to have a car. This is because, when you start to have a car, you will think that you can go to anywhere you want, and drive to other places you would not imagine going to had you not have a car. The costs of owning a car can just go up indefinitely. Think also the intangible costs that may occur - forfeited times for exercising, reading, listening to radio etc. True, you get time saved as well by arriving at destinations earlier. Technology is supposed to help you, not harm you. But ultimately, you have to decide what is of greater value to you, and which brings better joy and satisfaction to yourself and your family members. Perhaps the biggest barrier for me is the thought of buying an asset and having to scrap it 10 years later, and get a very much reduced sum back. This is in Singapore only, by the way. In other countries, you get to drive the car for a much longer timespan.
8 :
Do you know that in Singapore, to own a car, you will become a "High Tax Payer"? I made a calculation, and you decide for yourself. Assume you are buying a 1.6 L car with OMV (Open Market value) of about S$18,000. The ARF + Duty = 130% * 18,000 = S$23,400 The Current COE (August) = S$17,001. Which meant upfront "tax" is about S$40,401 excluding GST. And you only "owned" the car for ten years! After ten years, you have to either renew COE or scrap the car. If you choose to scrape the car, you can get back PAFR rebate of S$11,700 (50% of ARF). Now, assume you take up a 7 years loan with interest of 2.8% per annum. Which meant the total interest for the "tax" is about S$8000. Including the road tax of about S$800 per year, the annum tax that you pay to the Government for the next ten years is: ($40,401 + 8000 - 11,700)/10 + 800 = S$4470. Let forget about ERP, Duty of Petrolum, the minimum "tax" that you need to pay to the Government is S$4470 per annum!!! Worth!!? Personally, I don't think so.
9 :
no
10 :
I can only think of benefits for one group of people, horny couples!
11 :
no
12 :
no
13 :
In my opinion, Singapore public transportation is the best in the world. Why bother owning a car?
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