Pitfall is buying those super old HDBEe or 60yrs lease Condo savvy buyers
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Serious Bull Market For COEs Continue!! $141k For Big Car, $105k For Small Car! Majulah PAP!
- Thread starter JohnTan
- Start date
Most of us belong to the "sandwich class" who don't qualify for Govt handouts, but have to handout to aged parents and children who aren't old enough to work.
Having a car is the worse thing to happen in Sinkapor... It's only a 10yrs lease from the gahmen n you have to pay your yearly road tax n insurance, not forgetting servicing the car n also replacement of wear n that..Just an ordinary Mazda 3 already cost $140k+ OTR for a 10yrs lease...
They are a sucker if they want a new car. And also don't forget the interest on the car loan. Easily add another $40K over 5 years.
There is a price to be paid for convenience, comfort and luxury. As long as the buyer is able to afford a car, why refer to him/her as a sucker? It is those who cannot afford a car who will be the first to jump in if they suddenly receive a windfall.
That’s a fair point. If I have $1 million in cash, what’s $200k on a car?
Price to be paid for convenience? It depends on what price u r talking about. Price created by the PAP? then u r 100% an educatedly stupid sucker. Go pay ur COE. PAP loves you.
You are 100% correct. It all boils down to affordability. If a person can afford a good class bungalow and a luxurious car in S'pore, wouldn't he be considered foolish to continue living in a 3-room HDB unit and relying on the train and bus?
If a person who is able to afford a car continues to deny himself the convenience, comfort and pleasure of owning one, then he may be considered "stupid". It is like living as a pauper when a person is a millionaire; that is stupidity.
Everything in life must balance right?
You save save save until u miss out on all the life experiences then u die. Lol… wtf.
Let me give an example. If you think you wanna save and not go traveling when you are young, and thought you can travel when u are retired, reality is you can’t even walk far or withstand the rigors of it when u are old.
You save save save until u miss out on all the life experiences then u die. Lol… wtf.
Let me give an example. If you think you wanna save and not go traveling when you are young, and thought you can travel when u are retired, reality is you can’t even walk far or withstand the rigors of it when u are old.
20% on your holding....no joke if u cum form CPA background
Must do it with your budget loh
The golden rule of not going into financial ruin is to spend within our means. If a car costs us more than $300K, but we have $5 million to our name, then why not for 10 years of sheer driving pleasure, convenience, comfort, status and family bonding on road trips?
5m is out of reach for many many, if u minus off the liability, outstanding loans and reflect real market liquid value in one balance sheet.
https://smartwealth.sg/average-net-...t=From the data, 16% of,has over US$1 million.
Net Worth Percentage of Population
Less than US$10,000 16% (or 790,000)
US$10,000 to US$100,000 36.2% (or 1,784,000)
US$100,000 to US$1,000,000 41.8% (or 2,060,000)
More than US$1 million 6.1% (or 299,000
Net Worth Number of People
US$1 million to US$5 million 263,895
US$5 million to US$10 million 21,028
US$10 million to US$50 million 12,110
US$50 million to US$100 million 974
US$100 million to US$500 million 570
More than US$500 million 73
Total (US$1 million or more) 298,650
Example A
Condo -3m
Share - 3m
Cash -300k
Outstanding loan 3m
The net wealth is really dependent on the prevailing market condition when liquidate the COndo an share, real cash position is only 300k
Only 40k satik high ses gene have 5m or more wealth in Sinkipur
https://smartwealth.sg/average-income-salary-singapore/
Maybe Boss John can be qualified to answer this question
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Whether one is a billionaire or salaried worker, spend within our means. For the 11% of current car owners in SG, please continue to buy a new car when the COE expires on your existing one, if you are not a marginal car owner. For those who aspire to join this group, don't borrow beyond your means just to keep up with the Joneses.
Leemember 66yr old Warehouse Supervisor...a hidden dragon Lai de woh
In whole, car ish really a 万福金安investments for satik savvy rich sinki de woh...have fun and dun miss the boat
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You need to earn like a REAL CEO to afford a luxury car in S'pore.
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