Well heres a simple way to know if you need to use a car – will your transport cost be more than $1.5k per month? (Assuming you use grab everywhere you go, if Yes then can consider getting a car.) If spending 1.5k per month on transport, better you get a car. Well that is assuming you stay far from workplace etc Otherwise, its more convenient to just take public transport / grab.
Not about the cost, taking Grab can play on my phone, read books or take a nap, but if driving a car, you can only drive a car. Especially stuck in a jam and finding a parking lot in a full house carpark.
You want to save the earth. Take public transport. You want to save on money. Take public transport. As Charlie Munger said before, life is that simple, learn to enjoy the simplicity of it
If you have a family, try getting a car if you can afford it… taking ride hailing is unreliable with the uncertainty of surge pricing & availability of nearby drivers. Also, kids <1.35m aren’t allowed on PHV cars.
Also having your own car means it’s your own personal space, can play music or eat, and typically more hygienic as it’s not like you use your car to pick up countless amount of people everyday.
The car don't need to be so expensive IF you pay the car with cash (no loans). If you can't then just buy a used car that fitst your budget. With that in check, it is definitely cheaper to own a car base on Kelvin's calculations for Grab rides vs a owning a car. If you can't afford to pay the car in cash, without a loan, means you can't afford that car. Save up more before thinking of buying a car. Cars are meant to be a mode of transport, for convenience, and not for showing off wealth in Singapore, unfortunately it is being otherwise for most car owners.
Car can tabao stuff, store stuff, do many personal things…its good to have la………but expensive…….but still if u buy 2nd hand and old car, still affordable la
00:00 🚗 Singapore is known to be the most expensive country to own a car due to rising COE prices and ride-hailing costs increasing by as much as 50%. 01:18 ⛽️ When owning a car, major costs include a 30% downpayment, monthly loan installment of $1,284, and petrol costs around $206 per month. 02:42 🅿️ Parking fees for an HDB season parking and CBD parking can total about $390 per month. 03:12 🚧 ERP charges can add up, potentially costing $80 or more per month, impacting the overall cost of car ownership. 08:46 🚖 Over 10 years, ride-hailing costs may exceed car ownership costs, but owning a car provides flexibility, especially for specific needs like transporting family members or working in remote areas.
This is one of the reasons why Singapore has one of the LOWEST birth rates in the world. The policies of pricing out personal transportations for the average family men with aging parents and Young Children is ABYSMAL!
Using land scarcity as an excuse by the powers that be and their supporters no longer holds water when you see Ultra rich individuals high up in the social hierarchy owning MULTIPLE cars.. 🤦🏼
there's only that much land n coe to distribute. Only way to counter the policy is to force gov with votes to rethink n change bidding system to a fairer income based, pay as u bid balloting system.
As a car owner, not just the cost, it is about the availability. When it comes to peak period or rainy times, it is sometimes almost impossible to get a grab.
You haven added in as a parent on weekend, you need to send your kid for extra classes, I.e ballet is 1 location, soccer is another location. I haven even added in the additional trg on weekdays or tuition.
Having kids, if I want my kids to be able to experience everything, I justify it as bobian, must have a car.
Getting a Car need consider Car insurance Carpark <– This one is a headache at times Maintenance Summons/Fines Accident repairs <– Touch wood ERP Fuel Brain drain dealing with other drivers on the road.
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Well heres a simple way to know if you need to use a car – will your transport cost be more than $1.5k per month? (Assuming you use grab everywhere you go, if Yes then can consider getting a car.) If spending 1.5k per month on transport, better you get a car.
Well that is assuming you stay far from workplace etc
Otherwise, its more convenient to just take public transport / grab.
Not about the cost, taking Grab can play on my phone, read books or take a nap, but if driving a car, you can only drive a car. Especially stuck in a jam and finding a parking lot in a full house carpark.
Can compare cost of leasing versus outright buying (full payment of cash) versus down payment + financing versus perma ride hailing?
You want to save the earth. Take public transport. You want to save on money. Take public transport. As Charlie Munger said before, life is that simple, learn to enjoy the simplicity of it
If you have a family, try getting a car if you can afford it… taking ride hailing is unreliable with the uncertainty of surge pricing & availability of nearby drivers. Also, kids <1.35m aren’t allowed on PHV cars.
Also having your own car means it’s your own personal space, can play music or eat, and typically more hygienic as it’s not like you use your car to pick up countless amount of people everyday.
I think normal singapore will buy
1) second hand cars (cheaper than brand new cars)
2) COE increase significantly over the past few years.
3) malaysia’s Petrol
This significantly reduce the cost of driving in singapore 😂
I tot my wifi lagging.
The car don't need to be so expensive IF you pay the car with cash (no loans). If you can't then just buy a used car that fitst your budget. With that in check, it is definitely cheaper to own a car base on Kelvin's calculations for Grab rides vs a owning a car. If you can't afford to pay the car in cash, without a loan, means you can't afford that car. Save up more before thinking of buying a car. Cars are meant to be a mode of transport, for convenience, and not for showing off wealth in Singapore, unfortunately it is being otherwise for most car owners.
would be great if you could compare with meter price.. fixed price is often more expensive than meter price especually during peak hours
For singles, the cost of grab is half, and the cost is a quarter if grabshare. Car prob makes more sense for families in sg.
Car can tabao stuff, store stuff, do many personal things…its good to have la………but expensive…….but still if u buy 2nd hand and old car, still affordable la
🎯 Key Takeaways for quick navigation:
00:00 🚗 Singapore is known to be the most expensive country to own a car due to rising COE prices and ride-hailing costs increasing by as much as 50%.
01:18 ⛽️ When owning a car, major costs include a 30% downpayment, monthly loan installment of $1,284, and petrol costs around $206 per month.
02:42 🅿️ Parking fees for an HDB season parking and CBD parking can total about $390 per month.
03:12 🚧 ERP charges can add up, potentially costing $80 or more per month, impacting the overall cost of car ownership.
08:46 🚖 Over 10 years, ride-hailing costs may exceed car ownership costs, but owning a car provides flexibility, especially for specific needs like transporting family members or working in remote areas.
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It's cheaper to take ride hailing.
The calculation for grab seems way off i don't even spend half that amount on grab per month and i grab for meetings all the time.
This is one of the reasons why Singapore has one of the LOWEST birth rates in the world. The policies of pricing out personal transportations for the average family men with aging parents and Young Children is ABYSMAL!
Using land scarcity as an excuse by the powers that be and their supporters no longer holds water when you see Ultra rich individuals high up in the social hierarchy owning MULTIPLE cars.. 🤦🏼
Road tax is NOT paid so that drivers can use the roads.
Please correct this misconception about road tax. Be a responsible YouTuber.
Road tax is NOT paid so that drivers can use the roads.
Please correct this misconception about road tax. Be a responsible YouTuber.
Thank you for the calculation. Appreciate it
Own btc better…..an appreciating asset
there's only that much land n coe to distribute. Only way to counter the policy is to force gov with votes to rethink n change bidding system to a fairer income based, pay as u bid balloting system.
As a car owner, not just the cost, it is about the availability. When it comes to peak period or rainy times, it is sometimes almost impossible to get a grab.
You haven added in as a parent on weekend, you need to send your kid for extra classes, I.e ballet is 1 location, soccer is another location. I haven even added in the additional trg on weekdays or tuition.
Having kids, if I want my kids to be able to experience everything, I justify it as bobian, must have a car.
car is cheaper since i have my own workshop
Should compare to public transport
Getting a Car need consider
Car insurance
Carpark <– This one is a headache at times
Maintenance
Summons/Fines
Accident repairs <– Touch wood
ERP
Fuel
Brain drain dealing with other drivers on the road.
Driving in singapore will soon become an income inequality indicator liao
Breakdown used vs new car pls
Use to have a car. quality of life was so much better if you travel frequently and when you have kids.
Singapore public transport is good, buy only if one can afford it or lives within one means.
like this w u buy? 😜
hi why do you use the most expensive transport – Grab vs the cheapest car in the market not a apple to apple comparison to calculate cost right ??
You forgotten to list the depreciation of the car ,fines that may incur over the year and car washing/cleaning services etc.
I buy car because coe pump like bitcoin
Thanks for the great info. I just placed an order for the Perodua Bezza! Woohoo lol.