luxury car ownership

[SirRichard]

REad on newspaper last week about this guy who earns 6k-10k + and spend 2k servicing Mercedes car loan. It makes me ponder the following questions:

1) are there many luxury car owners on our road purchased with car loan? Isn't it "bo hua" with all the interest factor in as well as high car price?

2) Care of share if you know of any MErc and Beemers owner ( what series they own and their monthly income - to see what % they spend of their income on such luxury

3) What do you think a person's annual income should be to own a 300k car such as s class.


For me, I'm still on public transport even though take home is quite ok. I rather invest the money in property.

Guys, give me your thoughts on it, no right no wrong but i'm interested to hear your views.

 

[Narong Wongwan]

Cars are status symbols in sinkieland.
There are many sinkies who scrimp and save and loan to the max just to be able to own a car.
My nephew has colleagues who just joined the workforce drawing 3k salaries that are buying cars once they have saved enough for the downpayment. These are not kids from rich families but your average HDB types.

 

[Froggy]

REad on newspaper last week about this guy who earns 6k-10k + and spend 2k servicing Mercedes car loan. It makes me ponder the following questions:

1) are there many luxury car owners on our road purchased with car loan? Isn't it "bo hua" with all the interest factor in as well as high car price?

2) Care of share if you know of any MErc and Beemers owner ( what series they own and their monthly income - to see what % they spend of their income on such luxury

3) What do you think a person's annual income should be to own a 300k car such as s class.

SirRichard, your 1,2,3 questions sound like you're from IRS.

 

[Microsoft]

Sum buy becoz nature of job required it...aw subsidise by co in de form of transport allowance so still ok...

Sum buy becoz dey tua towkay...no car how can...dis i understand...

Sum buy becoz of passion 2 drive...

Sum buy becoz dey dun farking noe wat 2 do wo 1...a colleague of mine turn up haf day late 4 work say car spoil n dunno how 2 cum by bus...y dun u take taxi i ask...he say...u kidding me so expensive...

Sum buy becoz dey hav 2 drive their wife/wives...kids...parent all over sinkieland...whole fak day dey tell u mus drive dis burger here...tat burger there...funny...majiam whole family all got no leg lidat...

Sum buy becoz sinkie whore gf wun consider dating a guy wo car...

Sum buy becoz mus show de world he steady poon pee pee...bank a/c no moni...dey...tat 1 nobody can ever noe rite?

 

[CheesePie]

SirRichard, how did you earned your Knighthood? Did Leongsam's alter ego tonychat knighted you is it?

 

[Fook Seng]

With the weird COE system we have here, there is not so much of a price difference between a mass market car like Toyota or a BMW.

 

[laksaboy]

Mercs, Beemers and Audi are quite common for higher-end cars.

The truly rich folks buy Jaguar or Maserati.

 

[erection2015]

1. Dont know how many and what kind of loan. Of course its 'boh hua ' unless you get indirect gains from owning such a car.

2. Dont know.

3. to own a 300k car? ........ annual income should be .......300k

1) are there many luxury car owners on our road purchased with car loan? Isn't it "bo hua" with all the interest factor in as well as high car price?

2) Care of share if you know of any MErc and Beemers owner ( what series they own and their monthly income - to see what % they spend of their income on such luxury

3) What do you think a person's annual income should be to own a 300k car such as s class.


For me, I'm still on public transport even though take home is quite ok. I rather invest the money in property.

Guys, give me your thoughts on it, no right no wrong but i'm interested to hear your views.

 

[psy83]

Sum buy becoz mus show de world he steady poon pee pee...bank a/c no moni <=--------------Majority of those in their 20s and early 30s are with-in this group.

 

[Narong Wongwan]

Sum buy becoz mus show de world he steady poon pee pee...bank a/c no moni <=--------------Majority of those in their 20s and early 30s are with-in this group.

Used to be a mat saying....duit tadah tidak apa, style misti ada!

 

[erection2015]

another one ....... necktie, collar......pocket no dollar. :p

Used to be a mat saying....duit tadah tidak apa, style misti ada!

 

[bryanlim1972]

Mercs, Beemers and Audi are quite common for higher-end cars.

The truly rich folks buy Jaguar or Maserati.

this is utter rubbish. how many rich folks do you actually know?? most would get around in simple nondescript cars, with a token luxury car in the driveway. these folks understand the value of money, hence they managed to get rich, by not saddling themselves with ludicrous $100ks car loans.

 

[kulgai]

Sum buy becoz nature of job required it...aw subsidise by co in de form of transport allowance so still ok...
Sum buy becoz dey tua towkay...no car how can...dis i understand...
Sum buy becoz of passion 2 drive...
Sum buy becoz dey dun farking noe wat 2 do wo 1...a colleague of mine turn up haf day late 4 work say car spoil n dunno how 2 cum by bus...y dun u take taxi i ask...he say...u kidding me so expensive...
Sum buy becoz dey hav 2 drive their wife/wives...kids...parent all over sinkieland...whole fak day dey tell u mus drive dis burger here...tat burger there...funny...majiam whole family all got no leg lidat...
Sum buy becoz sinkie whore gf wun consider dating a guy wo car...
Sum buy becoz mus show de world he steady poon pee pee...bank a/c no moni...dey...tat 1 nobody can ever noe rite?

erm.. no offence but I tink the question is abt how much being spent on luxury car given yr income. It's not abt whether to own a car or not.
I believe many out there are paying through their noses just to show that they have arrived. TS, u're making the right decision if u invest in property instead of a car.
The most prudent way to decide the quantum for a car is as follows;
1) Full cash payment, or
2) If taking a loan, car price should not exceed 1 year's income

 

[tonychat]

erm.. no offence but I tink the question is abt how much being spent on luxury car given yr income. It's not abt whether to own a car or not.
I believe many out there are paying through their noses just to show that they have arrived. TS, u're making the right decision if u invest in property instead of a car.
The most prudent way to decide the quantum for a car is as follows;
1) Full cash payment, or
2) If taking a loan, car price should not exceed 1 year's income

That is called the Infamous Sinkie behaviour!!!

Not at the level yet but need to squeeze themselves real tight in order to feed their sinkie ego.

People who really make it no need to even use their own money to get a porsche.

 

[saratogas]

Car is 1 of the 5 Cs... If I can afford it, I also wish to own a car... A lot better than pack myself in sardine MRT rite.

 

[SirRichard]

SirRichard, your 1,2,3 questions sound like you're from IRS.

Haha.. I'm really curious whether i'm foolish by living it simple and not enjoy life. Deep down still feel not worth to spend on such expensive toy. Guess it's a matter of lifestyle choice..

 

[Received_by_Kings]

I rather invest the money in property.

Smart thinking. I'm so proud of you. Sometimes it's better to live in a nice place with a beatup car than a beatup place with a beautiful car.

 

[Perspective]

REad on newspaper last week about this guy who earns 6k-10k + and spend 2k servicing Mercedes car loan. It makes me ponder the following questions:

1) are there many luxury car owners on our road purchased with car loan? Isn't it "bo hua" with all the interest factor in as well as high car price?

2) Care of share if you know of any MErc and Beemers owner ( what series they own and their monthly income - to see what % they spend of their income on such luxury

3) What do you think a person's annual income should be to own a 300k car such as s class.


For me, I'm still on public transport even though take home is quite ok. I rather invest the money in property.

Guys, give me your thoughts on it, no right no wrong but i'm interested to hear your views.

In my view, cars are a finance liability. It's good to have it during some point of time in life, eg wife expecting, working in sales etc. Then sell away later. But not need to be expensive.

 

[Agoraphobic]

My ex-neighbour, a mechanic once said:

"A car is the stupidest thing to buy. All it does is rust and devalue."

Other than its utility value, its got no value.

Our societies have developed a market for passion though. Oh well.

Cheers!

 

[Narong Wongwan]

Haha.. I'm really curious whether i'm foolish by living it simple and not enjoy life. Deep down still feel not worth to spend on such expensive toy. Guess it's a matter of lifestyle choice..

you are prudent, not foolish.....financial prudence is not considered a virtue by most sinkies.
here in sinkieland the mantra 先敬罗衣后敬人....

rolexes, brand handbags, expensive cars etc is the way to flaunt your status.

alot of HDB sinkies who drive expensive cars like to hide that fact by not displaying the season parking decal....instead it is en vogue to display many country clubs, condos decals on the windscreen (get from where no one knows)....even if car is parked far away make sure to hold the keyless remote with brand logo in hand to flaunt.....best is displayed with a branded keypouch attached with a condo keycard.....branded sunglasses dun leave inside car.......make sure must perch smugly on top of head top complete the entire look.