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.
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!