How much can I expect to spend?

[Car???]

I am thinking about either buying or leasing a car.  I don't need a big or fancy car.  Just something that works.  What can I expect to spend each month including taxes, COE, insurance, ect?  Is leasing cheaper than buying ? I know nothing so any advice you can give is much appreciated.  

(I realize taxis are cheaper but I want my own wheels)  

[want_to_believe]

I bought a car around 9 month ago and I have to say , just keeping it on the road is killing me .  I bought an old cheap car ( 35K$, 4 years coe to go , good technical conmdition, a bargain in Singapore   ), but no matter what car you buying , the running cost is very high. I would say around 1000$ a month , just for parking, erp, road tax, insurance and fuel. And , i don't drive a lot. On top of this 1000 $ a month , you have maintanace cost and repairs. And of course you must calculate your coe cost and the loss of value. COE cost alone is 30.000 ++ for 10 years, so , this will be another 300 a month. I would say , over all , an old car cost you  2000 a month including the value you lose and the runnig cost.

[This message has been edited by want_to_believe (edited 05-12-2002).]

[Car???]

Thanks for the info. It is much more expensive than I thought!!  I am not sure I can afford one.  Do you think a lease on car is any cheaper?  Also when you lease do you have to pay for repairs?    

[want_to_believe]

I think you can lease a car for around 1300.- But you still have to pay parking ( in town , monthly parking can be between 130 and 250) , you have to pay erp (for me , I only drive 10 minutes to work, but I have to pay 5$ every morning, 2.5$ on the cte and 2.5 $ top go into the CBD). And, if you lease a car , maintainance is on you. YOu can also rent a car , there are some companys who rentig out ( really garbage crap old but cheap) cars. In this case, you only have to pay fuel, parking and erp, nothing else, but I think you are still looking at 1500 over all, maybe more.

[want_to_believe]

oh, forgot to say , even if it is fu*** expensive, a car was the biggest step in living quality in singapore ever.
You still can consider buying a motorcycle. It's much cheaper and you still have your own transport. The weather is great for motorcycle and you don't have parking problems. I had one before and I'm thinking of selling the car and getting one again sooner or later.  

[skank]

Our last car purchase was a Honda in pretty good shape, 4yrs 3mo left on the COE around 32K, nowadays should be even cheaper

Since it's a "company" car we have meticulous records which I just looked up. For the 1st 11 monthes of this year it's cost S$6495 for Road Tax, Seasonal & Daily Parking, Insurance, Maintenance, ERP, Gas, etc. That works out to around $600 a month, which was about the same for the previous vehicle we owned. I think Want to Believe's estimate is a bit high

I do definitley concur with Want to Believeon the 'other' point , it is a huge & I mean huge improvement in lifestyle.

Yes public transportation is pretty good here but it is still public transport, you still spend time waiting for buses cuz one just came, try hailing or booking a cab in the rain or at rush hours, & the MRT gets just as crowded as the NYC subway. Nothing beats your own set of wheels & that's that.... Especially as an American where we get our 1st set at around 16 it put me back in a much better frame of mind

[doin Skids]

I rung a leasing company yesterday I have rented cars from them before. for a 3-4yr old 1300cc manual Mitsi Lancer around $1300
3-4yr old Galant around $2300
this includes insurance, maintenance, taxes etc.

[This message has been edited by BoardAdmin (edited 05-12-2002).]

[want_to_believe]

the runing cost depends on several factors. For me , yes, it's around 1000$ a month. I pay 200$ parking a month at my office and another 200$ on erp to go to work every day. I have around 300$ a month roadtax and insurance and 200$ in fuel . Another 100$ goes for other parking, washing small repairs, oil and stuff.

[Cars are Reasonable]

Cars make life easy here.  I only pay about $100 per month in addition to car payment.  It is very cheap, and your company should reimburse your parking.  Get the car---some leases you can get for under $1000-- well worth it.

[snoozie]

Now you've got my curiosity up! Is leasing at 1300 a month or so  inclusive of all other running costs (of course parking, ERP. gas etc all extra)? If so, please give me more details.

So far for six months, have been renting for weekends where rental company drops off car at my condo on Friday night and picks it up on Monday. Works good for groceries, golf, beach, cruising, etc. but feel stranded during the week (even though I work late).

Cost of all foregoing is approx $300/week all in and you don't pay anything when you're not around for weekends - I have a problem with a depreciating asset sitting in my parking space while I'm away on business for weeks at a time.

It's definitely been an okay arrangement, but leasing seems to cost about the same and then I'd have it whenever I need it...
Hmmm....anyone esle know much about leasing? Where to start, actual costs for different vehicle types, etc?

Snoozie

[julieh]

We just bought a nice car 10 years old with 9.5 yrs COE left on it. In immaculate condition and passed an independant inspection with surprisingly good results
it cost $32K. when you equate it all ot the COE is around 350.00per month and parking hasn't cost me alot  ERP not too bad I am off an on before the charges come and fuel and insurance is affordanble $50.00 pwer week maybe in fuel and comprehensive insurance per annum was about 900.00. This car is costing us very liitle in comaprison to Taxis and school bus fares, you did need to look around and take your calculator, it is frustrating but remeber your COE value is the main cost. There was a low COE last year  so cars COE cars renewed at this time (like mine) are alot cheaper
GOOD LUCK