luxury car ownership

[Narong Wongwan]

in developed societies.....conspicuous consumption is seen as being vulgar and crass. if a neighbour buys a top end S500 merc...more likely he will removed the badge as he does not want to flaunt it....

sinkies here does the reverse and buy the toyota and affix the Lexus badge....or entry level beemers with self affixed M badges

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!

 

[Capano2121]

in developed societies.....conspicuous consumption is seen as being vulgar and crass. if a neighbour buys a top end S500 merc...more likely he will removed the badge as he does not want to flaunt it....

sinkies here does the reverse and buy the toyota and affix the Lexus badge....or entry level beemers with self affixed M badges

Hi Narong, you must be living in Malaysia or travel a lot to Malaysia! I've seen many of this when on business trip in KL, guess the kampong boys can con some kampong girls some of the time but not everyone! Apparently more prominent when you pass by kampung baru areas, plenty of lexus wannabe on vios!

 

[SirRichard]

I know of someone who change cars luxury cars ( all 200k and above) every 2-3 years but all bought using high loan, low down payment of 10-20% . Now i heard not doing so well.. wonder if he regrets coz those interest and money spent on cars could have amount to a few hundred k in savings for such rainy days.

 

[Narong Wongwan]

Hi Narong, you must be living in Malaysia or travel a lot to Malaysia! I've seen many of this when on business trip in KL, guess the kampong boys can con some kampong girls some of the time but not everyone! Apparently more prominent when you pass by kampung baru areas, plenty of lexus wannabe on vios!

in malaysia there are many proton wannabes evos.....the workshops have prefab bodykits to mod wiras into evos lookalikes....

sinkieland also used to be rampant.....i remembered many toyota owners like to rebadge their Harrier as RX until Borneo motors got to take out a full page ad in the papers

 

[Charlie258]

I know of someone who change cars luxury cars ( all 200k and above) every 2-3 years but all bought using high loan, low down payment of 10-20% . Now i heard not doing so well.. wonder if he regrets coz those interest and money spent on cars could have amount to a few hundred k in savings for such rainy days.

I live in East Coast, and: it is strange, but the Landed Property(bungalow, semi-D, terrace) has mostly Toyota Vios, Altis, Honda Civic. But the HDB common parking lot has all kinds of Benz and BMW, even Jaguar and Maserati.

I guess the poorer people are, the greater their inferiority complex, and hence the need to show off. They must show off, even when they do not have the money to do so. Solution? Borrow money!!! Loan from Car Dealer, loan from Bank.

I think when interest rates shoot up in 2 years' time, the Repo Man will be very busy, just like in 81-82, 86-87, and 97-98. All the 'Chow Ah Beng' are going to wake up and scream: "What happen to my BMW?"

 

[Narong Wongwan]

I know of someone who change cars luxury cars ( all 200k and above) every 2-3 years but all bought using high loan, low down payment of 10-20% . Now i heard not doing so well.. wonder if he regrets coz those interest and money spent on cars could have amount to a few hundred k in savings for such rainy days.

there are people who use credit lines to pay for downpayment fees upfront to buy a car......so end up servicing car loan and loan used for downpayment....no joke.......and any spare money was not use to clear outstanding loans but instead spent to beautify the car. Young and reckless finanicial management....

 

[Capano2121]

Car ownership is such a pain in Singapore! My first car was a banged up boneshaker datsun 120y back in the early 90s. Cost me more in the maintenance than the running! Second was a old ALFA 33, same o same o, cost more to maintain than buy! Got married, that cost me even more to maintain eventually got rid of it after 11 years, back to the third car, a brand new corolla 1.5XLi, cheap to buy but expensive to service the car, after that got the S$1.00 COE & bought a CRV but sold it after 3 months & made some! After that gone crazy & stupid & bought a WRX, too damn noisy, sold it & bought a Z350, during the divorce, stupid bitch wanted it so just gave it to her lah! After that turn beng & got a RX8, found out not too petrol consumption friendly, again got rid of it & settle for a scirocco, a magnet for ROV or simply just arse luck! Got rid of it & now driving a Prius! And all these cars never exceed 15% of the total cost of my residence! Used to see a lot of expensive cars parked in HDB car parks that cost more than the flat in my younger days!

 

[Narong Wongwan]

I used to own an Alfa 33 as well.........boxer engine was a joy but the car spent more time in the workshop then on the road. Old timers tell me once an Alfa owner always an Alfa owner....think is a myth...got rid of it after one year and never touch another Alfa again.
Had an RX7 savannah in the 80s.....chick magnet but cannot tahan fuel consumption guzzling like a 3 litre car....road tax was cheap though....had it till the COE system came along and sold it at a profit believe it or not.

Car ownership is such a pain in Singapore! My first car was a banged up boneshaker datsun 120y back in the early 90s. Cost me more in the maintenance than the running! Second was a old ALFA 33, same o same o, cost more to maintain than buy! Got married, that cost me even more to maintain eventually got rid of it after 11 years, back to the third car, a brand new corolla 1.5XLi, cheap to buy but expensive to service the car, after that got the S$1.00 COE & bought a CRV but sold it after 3 months & made some! After that gone crazy & stupid & bought a WRX, too damn noisy, sold it & bought a Z350, during the divorce, stupid bitch wanted it so just gave it to her lah! After that turn beng & got a RX8, found out not too petrol consumption friendly, again got rid of it & settle for a scirocco, a magnet for ROV or simply just arse luck! Got rid of it & now driving a Prius! And all these cars never exceed 15% of the total cost of my residence! Used to see a lot of expensive cars parked in HDB car parks that cost more than the flat in my younger days!

 

[Froggy]

sinkies here does the reverse and buy the toyota and affix the Lexus badge....or entry level beemers with self affixed M badges

Serious ah Narong, I thought only those baan nook Thais will do it now sinkies also so baan nook ah?


Lexus Fortuna . . . . ha ha ha

 

[Capano2121]

I used to own an Alfa 33 as well.........boxer engine was a joy but the car spent more time in the workshop then on the road. Old timers tell me once an Alfa owner always an Alfa owner....think is a myth...got rid of it after one year and never touch another Alfa again.
Had an RX7 savannah in the 80s.....chick magnet but cannot tahan fuel consumption guzzling like a 3 litre car....road tax was cheap though....had it till the COE system came along and sold it at a profit believe it or not.

Had always wanted a RX7 during JC days but after coming back from UK found out too expensive to even a buy a COEd one & later found out from old folks who pranced around in one back when it was still new too expensive to maintain even!

 

[Froggy]

sold it & bought a Z350, during the divorce, stupid bitch wanted it so just gave it to her lah!

I love my Fairlady too while in Singapore an Orange colour Z. The 370Z now is damn sexy. Being an imported car and above 3L here in Thailand its slapped with a very high import tax, the price is just crazy 5,200,000 ($217k) for a 6 speed manual. More expensive than Singapore as here got no COE.

 

[Narong Wongwan]

Serious ah Narong, I thought only those baan nook Thais will do it now sinkies also so baan nook ah?

View attachment 3170
Lexus Fortuna . . . . ha ha ha

hard to catch sinkies doing it now......
imagine the problem was so common then that Borneo Motors had to take out full page ads to malu the Toyota Harrier owners that there was no such thing as a RX240....

Back then the towkays also like to do their own 'facelift' to their W124 Mercs.....from 200E to E200/E220/E260 (take your pick)....changing side mirrors, back lights and rebadge with the masterpiece/elegence etc badges complete with a new licence plate....then machiam change new car liao

 

[LeMans2011]

You guys have got it ALL WRONG.

People buy cars for the love of the car. For some, they are willing to stretch the monthly payment to 20% of their monthly income.
Obviously the car you drive reflects how much you spend and not how much you earn.

I don't understand why many people view luxury car drivers as wanting to show off. I was eating at a coffee shop at Simpang Bedok and a Ferrari roared past... the guy next table mumbled something like "sibeh how lian". What an idiot! Ferrari are built to ROAR. He should count himself lucky for having the opportunity to witness the unsurpassed class and style of a Ferrari in flesh. Idiots like him should move to JB and enjoy the Wiralution and Wajalutions. But it wasn't my job to educate him.

It is good to always remain prudent and save money for retirement. But if you can afford it there is nothing wrong with splashing on a luxury car and live in style. Peasants who view luxury car owners as wanting to show off can continue to plant their corn and banana trees in the village.

 

[Capano2121]

hard to catch sinkies doing it now......
imagine the problem was so common then that Borneo Motors had to take out full page ads to malu the Toyota Harrier owners that there was no such thing as a RX240....

Back then the towkays also like to do their own 'facelift' to their W124 Mercs.....from 200E to E200/E220/E260 (take your pick)....changing side mirrors, back lights and rebadge with the masterpiece/elegence etc badges complete with a new licence plate....then machiam change new car liao

Matter of curiosity, what's the difference between a E200 & a 200E. Oh! I drove a masterpiece back then when i was based in Jakarta in the 90s! Awful looking piece of shit!

 

[Meltdown]

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.

1) A lot of the latest model luxury cars on the road are leased instead of having car loans or fully paid by cash. The lease term is usually 2 or 3 years. The monthly lease payment is lower than monthly car loan payment. The main advantage of leasing is the driver can always drive the latest model car to show off and attract chicks. The major disadvantage is he'll never own the car.

2) I know many expats in middle and senior management lease their cars instead of having car loans. They know that a car's value will depreciate substantially after a few years and the car will be considered old model. It's a disposable item to them just like SPGs and they don't have to worry about disposing the car when it's time to return to their home countries or being transferred to other countries by their companies.

3) My best guess is a person's annual income should be at least S$250K to lease an S-Class. This is just a guess as I never ask my expat friends about their salaries.

 

[Charlie258]

I used to own an Alfa 33 as well.........boxer engine was a joy but the car spent more time in the workshop then on the road. Old timers tell me once an Alfa owner always an Alfa owner....think is a myth...got rid of it after one year and never touch another Alfa again.
Had an RX7 savannah in the 80s.....chick magnet but cannot tahan fuel consumption guzzling like a 3 litre car....road tax was cheap though....had it till the COE system came along and sold it at a profit believe it or not.

Should be: 'Once an Alfa admirer, Always an Alfa admirer!' Being an Admirer costs nothing. Like in Secondary School days, the students hang out on the Void Deck and talk cars all day long, but no driving license and no money to buy a car!

In real life, 'Once an Alfa owner, Never Again an Alfa owner!' You are totally correct, Alfa and all the damn Italians(including Ferrari!), they never run right, not even once in their sorry lifetimes!

 

[LeMans2011]

Should be: 'Once an Alfa admirer, Always an Alfa admirer!' Being an Admirer costs nothing. Like in Secondary School days, the students hang out on the Void Deck and talk cars all day long, but no driving license and no money to buy a car!

In real life, 'Once an Alfa owner, Never Again an Alfa owner!' You are totally correct, Alfa and all the damn Italians(including Ferrari!), they never run right, not even once in their sorry lifetimes!

Alfa today is a lot improved compared to Alfa of 20 years ago. The merit of Alfa is their Selespeed gearbox which is a good alternative to manual gearboxes but having more grunt than auto gear boxes. But those were the days when most cars were running on 100+ horses.

These days cars on 200hp-250hp has become so common that anything that is not auto gearbox is becoming outdated. Even Lambo has permanently cease producing any gearbox that is not auto. Hence there is really no attraction about Alfa other than some weirdos who are still living in past Alfa's glorious heritage.

 

[Narong Wongwan]

Matter of curiosity, what's the difference between a E200 & a 200E. Oh! I drove a masterpiece back then when i was based in Jakarta in the 90s! Awful looking piece of shit!

slight modifications but basically the look remained the same......this model stretched pass a good decade so was a favourite for those who like to flaunt as you can buy a 7-10 year old and spruce it up to look like you bought a brand new Merc

 

[sleaguepunter]

the real rich folks no need loans to buy a luxury car, it will be pay full in cash.

i had no interest in car till i got my license. while i would like to own a VXR but realistically too expensive to own one in singapore. wifey and i just treat family car as kar tat as the hokkien will say. nothing more than a mode of transportation.

while i agree that car lover should try to own their fav car that should be achieve without the car being a financial burden. the problem is too many young men/women is financing their car at 40-50% of their income. maybe that why can see many less than 2yo cars being offer at used car marts. another type cannot tahan are those who affix fake logos on their cars. Most common is the honda red badge, i seen many honda fit owners sticking the red badge on. There also ppl who like to get Abarth paint job on their bravo and punto. i know abarth tune the 500, i not so sure about the bravo and punto.

The problem here is that even without the COE, the cars are price much higher than everywhere. A good example is the fiat 500 tout to be a cheap car for the masses, 500 sold in europe for ard 12K-20K euro depending on the range which is at most SGD 40K but selling here at more than SGD 70K without COE. i dunno how much govt tax on cars but it basically double the price compare to europe. real car lover should save $$ first then leave this godforsaken island to the other countries, then they can really enjoy their cars. What the point of own a high performance vehicle that is restricted to 60kph?

 

[johnny333]

You guys have got it ALL WRONG.

People buy cars for the love of the car. For some, they are willing to stretch the monthly payment to 20% of their monthly income.
Obviously the car you drive reflects how much you spend and not how much you earn.
.....

Have to disagree, maybe it's because I'm from the old generation? I know many who get a Merc but that's because they are looking for german quality & a bit of prestige:o Getting anything more expensive would be overkill.

Although they can afford Porche & Ferarris it would be embarrassing if they were to get one Many relatives & friends would gossip behind their backs about a mid life crisi