Cost of Owning A Car In Singapore – A LOT!!

http://www.salary.sg/2015/how-much-do-you-need-to-earn-before-you-even-think-of-buying-a-car-in-singapore/

As I am planning to get a car, I looked through the market and evidently it cost more to get a second hand car than a brand new car!

Don’t get me wrong. the absolute cost of a second hand car is still cheaper than a brand new but the annual depreciation of a new car is lesser than a second hand. Unbelievable!

So how much must you earn to afford a car? Think again.

 

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Rethinking how to bid for COE?

https://sg.finance.yahoo.com/news/middle-income-singapore-subsidising-coes-030040385.html

After reading this article, it really dawned on me that the wealthy can simply bid indiscriminately just to be assured a COE, but that would result to a situation where the financially adequate but sandwiched class never get a chance to own a car. This is because they never dare to bid more than manageable and may potentially having to pay for it!

Relooking the policy is definitely necessary!