Car Expenditure in Singapore (year 1)
Want to know how much it REALLY cost to drive in Singapore? Here’s my “report” – next time remember to help sponsor a bit, moi not very rich… 🙂
| Initial cost (including loan from bank) | $71,300 |
| Minus Loan $40,000 from the bank | ($40,000) |
| Installments thus far @ $593/mo | $6,523 |
| Total Petrol (1 year, including 3 trips to KL, 1 trip to Cameron Highlands, and daily driving in SG, mixture of Caltex, SPC and Petronas, all at discounted prices) | $1,670 |
| Road Tax + Radio Licensing | $930 |
| Two servicing (1,000km, 10,000km) | $303 |
| Insurance (so happen that a 26 yr old driving a honda is a high risk driver…) | $2,824 |
| Scratches, body works | $472 |
| Parking (I avoided most of it during my stay in BV and when SCS Bedok was free) | $410 |
| Traffic Fines | $330 |
| Street Directory | $12 |
Grand total of $44,774 in the first year (agak agak la) or actual $ out of your pocket. Haven’t add other things like car wash ($10?), car freshener($10?), waxing and polishing ($100?), ERP ($50?), … basically another few hundred to go.
Still want to buy car now?
Details: About to send for 2nd servicing within the month, figures taken @ 19,080km, OMV still around $18,000, didn’t bid for car plate.
😉
wow your monthly installment is quite high.
$45,874 / 12 = $3822.83
Geez… that’s higher than my monthly salary. If u are not very rich, moi is really really poor then 🙁
😳 moi also don’t have that kind of monthly salary… that’s why moi thick face ask daddy for money to buy car…
Ok to be more fair.. minus off your initial downpayment
$14,574.00 / 12 = $1,214.50
Still, about 10 times my monthly transport expenditure…
Then again, my time is not as precious 😆
😈 Actually I think I reported one wrong figure, just corrected (monthly installment is $593 not $693 (I kept thinking 600 bucks) – luckily you forced me to look harder at it again. But I only put 11 months coz my 12 installment haven’t paid.
But following your math, that would make:
($44,774 – $31,300) / 12 = $1,123
which blew my pre-purchase budget by $123 per month 😥
I’m beginning to find this 4 and 7 number very spooky, car plate 474, first 6 month road tax $474, pull together a bunch of random numbers to calculate cost $44,774…
How to generate $1,123 more per month of wealth?