Car prices

[Leongsam]

What's the use of buying a nice and fast car in a country where everyone drives on cruise control? I'm not sure about NZ but Australia is definitely not the place i want to be. You can't even exceed your speed limit by 3%.

180kph is very common in NZ. There's so much road and so few people.

 

[silverfox@]

I don't know what sinkie prices are now but I used to pay $2.50 to $3.00 for Fried rice for ONE and that was almost 20 years ago.

Now ffwd 20 yrs later
Fried Rice is only $3 per plate for 1 and portion is so big (enough for an adult+kid or probably 2 adults). If big eaters, maybe upsize to $4 or $5 for 2 surely enough.

 

[silverfox@]

what is the ballpark price for a cup of kopi in nz? got 80c?

Bedok market blk 85 got 1 stall still selling 50cts if I not wrong.

 

[Coolsaint77]

180kph is very common in NZ. There's so much road and so few people.

If can drive at 180kph without serious repercussions (such as police impounding your car, etc) then NZ is pretty cool. Australia is nuts.

 

[myo539]

I don't know what sinkie prices are now but I used to pay $2.50 to $3.00 for Fried rice for ONE and that was almost 20 years ago.

Don't bluff kids lah.

I get my fried rice at most coffee shop kopitiam at that price on 5th November 2010. Teh O and kopi O have risen from 20 cents almost 20 years ago to 80 cents a cup now.

 

[spotter542]

Towkay Sam ,

Care to disclose ( legal ) commercial sex price in the Land of Oz ? NZ ? :p
Geylang , 10+ years ago $40 for 25mins.
Now $50 for 20- 25mins

 

[Leongsam]

Don't bluff kids lah.

I get my fried rice at most coffee shop kopitiam at that price on 5th November 2010. Teh O and kopi O have risen from 20 cents almost 20 years ago to 80 cents a cup now.

You really are missing the forest for the trees.

While the small ticket items may cost more, the amount saved from cheaper housing and cars, lower taxes and a minimum wage of $12.75 per hour more than makes up for difference.

I have saved more than $2 million in housing and about $350,000 in transport related costs over the last decade. It more than makes up for $2 delta every time I buy a plate of fried rice (which isn't very often as it's a simple dish that can be done at home).

Remember the two million + saved is REAL money in the bank. It's earning interest at an average of 6% per annum which is $120,000 a year of free money.

 

[scroobal]

The price of hawker food began to rise sometime in 1995. Chicken rice at one stage rose to $3.50 and the Govt decide to move. I am sure people recall that suddenly Malaysians were allowed in to run foodstalls in Singapore. The food prices plunged and at one stage one hawker was offering $1 chicken price to ward off the competition and it made the papers.

This is classic PAP management of late. $2.50 friend rice after 20 years is to create a false sense of affordability. Ignoramus think that life is sweet but they will never drive a SUV, buy a private property but rant and rant about how the fried rice is cheap.

 

[Leongsam]

This is classic PAP management of late. $2.50 friend rice after 20 years is to create a false sense of affordability.

The strategy obviously works. I started this thread to illustrate how ridiculous car prices are in SG and some twit uses the price of fried rice as evidence that Sinkieland is much better in the grand scheme of things.

However, this mindset isn't confined to this forum. Many wives of recent immigrants simply can't stop ranting about how expensive a price of Woh Hup sauce is at the local supermarket. It somehow escapes them that the same standard of living in Singapore would have cost them at least an extra million bucks.

 

[silverfox@]

You really are missing the forest for the trees.

While the small ticket items may cost more, the amount saved from cheaper housing and cars, lower taxes and a minimum wage of $12.75 per hour more than makes up for difference.

I have saved more than $2 million in housing and about $350,000 in transport related costs over the last decade. It more than makes up for $2 delta every time I buy a plate of fried rice (which isn't very often as it's a simple dish that can be done at home).

Remember the two million + saved is REAL money in the bank. It's earning interest at an average of 6% per annum which is $120,000 a year of free money.

4 words to summarise

"live within your means"

Applies every where around this world.

if there is 6% per annum interest in a bank, no one would be investing in properties or stocks and shares. Why would they?

 

[silverfox@]

The strategy obviously works. I started this thread to illustrate how ridiculous car prices are in SG and some twit uses the price of fried rice as evidence that Sinkieland is much better in the grand scheme of things.

You are not wrong. Having a car is indeed expensive in Singapore.

But if like what you said, there are other places in this world that has cheap car prices like Aust and small ticket items also much lower than Aust. So you can consider those too.

 

[Leongsam]

if there is 6% per annum interest in a bank, no one would be investing in properties or stocks and shares. Why would they?

Lock the money in and forget about it. Credit interest to current account every quarter. $2 million @ 6% = $10,000 per month before taxes.

Term deposits



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<table id="TIRatesDisplay_tblTermDeposit" class="greySeparators" style="width: 93%; border-collapse: collapse;" border="0" cellspacing="0"><tbody><tr class="data"> <td>Term</td><td>$5,000-$9,999</td><td>$10,000-$49,999</td><td>$50,000+</td> </tr><tr> <td>30 Days</td><td>2.00 % p.a.</td><td>3.00 % p.a.</td><td>3.00 % p.a.</td> </tr><tr> <td>60 Days</td><td>2.25 % p.a.</td><td>3.00 % p.a.</td><td>3.00 % p.a.</td> </tr><tr> <td>90 Days</td><td>3.00 % p.a.</td><td>3.75 % p.a.</td><td>3.75 % p.a.</td> </tr><tr> <td>4 Months</td><td>3.00 % p.a.</td><td>5.00 % p.a.</td><td>5.00 % p.a.</td> </tr><tr> <td>5 Months</td><td>3.00 % p.a.</td><td>3.50 % p.a.</td><td>3.50 % p.a.</td> </tr><tr> <td>6 Months</td><td>3.00 % p.a.</td><td>5.20 % p.a.</td><td>5.20 % p.a.</td> </tr><tr> <td>9 Months</td><td>3.00 % p.a.</td><td>5.00 % p.a.</td><td>5.00 % p.a.</td> </tr><tr> <td>12 Months</td><td>3.00 % p.a.</td><td>5.30 % p.a.</td><td>5.30 % p.a.</td> </tr><tr> <td>18 Months</td><td>3.00 % p.a.</td><td>5.40 % p.a.</td><td>5.40 % p.a.</td> </tr><tr> <td>2 Years</td><td>3.00 % p.a.</td><td>5.50 % p.a.</td><td>5.50 % p.a.</td> </tr><tr> <td>3 Years</td><td>3.00 % p.a.</td><td>5.75 % p.a.</td><td>5.75 % p.a.</td> </tr><tr> <td>4 Years</td><td>3.00 % p.a.</td><td>5.95 % p.a.</td><td>5.95 % p.a.</td> </tr><tr> <td>5 Years</td><td>3.00 % p.a.</td><td>6.20 % p.a.</td><td>6.20 % p.a.</td></tr></tbody></table>

 

[kingrant]

Sam,

No harm always looking for cheaper, cheaperer, and cheaperest what. Wooden it be good if one can also get cheap Woh Hip sauce besides cheap cars and houses?

What about gasoline prices these days in NZ?

Many wives of recent immigrants simply can't stop ranting about how expensive a price of Woh Hup sauce is at the local supermarket. It somehow escapes them that the same standard of living in Singapore would have cost them at least an extra million bucks.

 

[Ash007]

The strategy obviously works. I started this thread to illustrate how ridiculous car prices are in SG and some twit uses the price of fried rice as evidence that Sinkieland is much better in the grand scheme of things.

However, this mindset isn't confined to this forum. Many wives of recent immigrants simply can't stop ranting about how expensive a price of Woh Hup sauce is at the local supermarket. It somehow escapes them that the same standard of living in Singapore would have cost them at least an extra million bucks.

Most people don't compare their salary to their living expenses. They only look at the price of the stuff they are buying without thinking if its affordable or not. I don't mind paying more for the food here. I'm saving more because I'm earning more even if I eat out most of the time.

 

[silverfox@]

Lock the money in and forget about it. Credit interest to current account every quarter. $2 million @ 6% = $10,000 per month before taxes.
<table id="TIRatesDisplay_tblTermDeposit" class="greySeparators" style="width: 93%; border-collapse: collapse;" border="0" cellspacing="0"><tbody><tr class="data"> <td>Term</td><td>$5,000-$9,999</td><td>$10,000-$49,999</td><td>$50,000+</td> </tr><tr> <td>30 Days</td><td>2.00 % p.a.</td><td>3.00 % p.a.</td><td>3.00 % p.a.</td> </tr><tr> <td>60 Days</td><td>2.25 % p.a.</td><td>3.00 % p.a.</td><td>3.00 % p.a.</td> </tr><tr> <td>90 Days</td><td>3.00 % p.a.</td><td>3.75 % p.a.</td><td>3.75 % p.a.</td> </tr><tr> <td>4 Months</td><td>3.00 % p.a.</td><td>5.00 % p.a.</td><td>5.00 % p.a.</td> </tr><tr> <td>5 Months</td><td>3.00 % p.a.</td><td>3.50 % p.a.</td><td>3.50 % p.a.</td> </tr><tr> <td>6 Months</td><td>3.00 % p.a.</td><td>5.20 % p.a.</td><td>5.20 % p.a.</td> </tr><tr> <td>9 Months</td><td>3.00 % p.a.</td><td>5.00 % p.a.</td><td>5.00 % p.a.</td> </tr><tr> <td>12 Months</td><td>3.00 % p.a.</td><td>5.30 % p.a.</td><td>5.30 % p.a.</td> </tr><tr> <td>18 Months</td><td>3.00 % p.a.</td><td>5.40 % p.a.</td><td>5.40 % p.a.</td> </tr><tr> <td>2 Years</td><td>3.00 % p.a.</td><td>5.50 % p.a.</td><td>5.50 % p.a.</td> </tr><tr> <td>3 Years</td><td>3.00 % p.a.</td><td>5.75 % p.a.</td><td>5.75 % p.a.</td> </tr><tr> <td>4 Years</td><td>3.00 % p.a.</td><td>5.95 % p.a.</td><td>5.95 % p.a.</td> </tr><tr> <td>5 Years</td><td>3.00 % p.a.</td><td>6.20 % p.a.</td><td>6.20 % p.a.</td></tr></tbody></table>

Interesting.
from the rates you gave, no diff from 10K up and 50k up. :p

As at: 5 November 2010
• Minimum deposit NZ$5,000 ($10,000 for monthly interest).

• The combined balance of all term deposits recorded under the same unique account number determines the interest rate.

• For terms of less than six months, interest is paid at maturity. For longer terms you can choose to have interest paid monthly or at maturity, or compounded quarterly, six monthly or annually. Monthly interest cannot be compounded.

• Maximum total term deposits of $10,000,000 per customer.

• For special rates the minimum and maximum deposits and interest payment options may differ.

So if you deposit $2mill, lock in funds for 5 years, per annum is about $120K interest. If you draw it out monthly, you get $10K interest to spend, as there is no compounding of interests. Only after 5 years, principal amount deposit is released.

No taxation right? Hmmm, its quite a good deal. :p

 

[silverfox@]

Now I understand why the bank can give generous interests. The home loans are not low interests too.

Interest rates

As at 08:05:26 p.m., Friday 5 November 2010

Interest rates are subject to change at any time without notice. However, once you draw down a home loan on a fixed interest rate, the rate will not change during the term you selected.
Term Rate
Housing Variable 6.25 % p.a.
Housing Fixed (6 Month) 6.35 % p.a.
Housing Fixed (12 Month) 6.45 % p.a.
Housing Fixed (18 Month) 6.60 % p.a.
Housing Fixed (24 Month) 6.70 % p.a.
Housing Fixed (36 Month) 7.10 % p.a.
Housing Fixed (48 Month) 7.45 % p.a.
Housing Fixed (60 Month) 7.75 % p.a.
ORBIT Home Loan 6.25 % p.a.
Societies Clubs and Churches 7.25 % p.a.
Second Mortgage 9.25 % p.a.
Flexible Finance Facility 6.75 % p.a.

====================================
So they lock the funds and give 6% while they charge 6+ 7% to loaners.

That's why Sg banks do not have such good rates compared with this NZ bank. If Sg banks give high rates, home loans will be affected.

 

[Ash007]

Australian banking system is different from Singapore. When I told my mum about the high saver acct, she nearly flipped over thinking it was a scam of some sort. The banking sector here have been deregulated quite heavily. Technically, banks are suppose to charge a higher interest compared to the cash rate of 4.75%. The difference is suppose to be the profit banks make out of home loans. How much higher from the official cash rate is suppose to be influenced by market forces. However, there have been recent public outcry that the banks here are abusing this system. Instead of competing with each other on offering the best deals in home loans rates. The big four are taking turns increasing it more then the official rate hikes.

 

[silverfox@]

Australian banking system is different from Singapore. When I told my mum about the high saver acct, she nearly flipped over thinking it was a scam of some sort. The banking sector here have been deregulated quite heavily. Technically, banks are suppose to charge a higher interest compared to the cash rate of 4.75%. The difference is suppose to be the profit banks make out of home loans. How much higher from the official cash rate is suppose to be influenced by market forces. However, there have been recent public outcry that the banks here are abusing this system. Instead of competing with each other on offering the best deals in home loans rates. The big four are taking turns increasing it more then the official rate hikes.

It's a compromise. Money has to come from somewhere. :p

 

[Ash007]

There is also Novated leasing available if your company provides them for cars. Think of it as paying for a car from your salary before tax. Hence reducing the amount you eventually pay.

http://en.wikipedia.org/wiki/Novated_lease

Benefits for the employee:
potential for significant income tax savings
savings on GST that would normally be incurred on vehicle expenses
potential access to volume discounts if the employer has many vehicles under this scheme
more flexibility in the choice of a car compared to a company car arrangement
vehicle stays with the employee and can be transferred to a new employer
Benefits for the employer:
a way to provide an effective increase in employees' salaries with no or minimal cost to the business
potentially a cost effective alternative to operating a fleet of company vehicles
compared to company cars, the business does not assume any risk for the vehicles
compared to company cars, employee vehicles are "off balance sheet"
Benefits for the Government:
Income: Panel Members pay fees to the Government to be Panel Members.
Benefits for the service providers:
They provide various services for fees and/or commission.