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Old 10th April 2008, 11:35 PM   #1 (permalink)
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How much income is required to substain a car?

So anyone care to share?

How about Off Peak Car?

Let's use the car Honda Jazz as the base car...

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Old 10th April 2008, 11:49 PM   #2 (permalink)
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Re: How much income is required to substain a car?

There is a lot of variables for consideration...

How much loan do you plan to take?
What's the interest rate out there now?
How long do you plan to service this loan?
What's your age?
Have you owned a car before aka what's your ncd?
What is the main use for this car? (this will determine the cost for parking, erp and petrol)
Road tax for jazz should be around $750/yr

BTW, how much does a jazz cost these days? They were close to 60k end of last year


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Old 10th April 2008, 11:49 PM   #3 (permalink)
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Re: How much income is required to substain a car?

I'm driving a Honda Civic and I budget about $1300 a month for my car (including road tax and insurance portions).

Car loan for a Jazz should be about $600 a month
Petrol will depend on how much you travel, but a full tank usually lasts a week and costs about $80. So for a month that's $320.
Season parking at a HDB estate costs $55.

So far that's $1050.

Also note that your road tax should come up to $368 per half year for the Jazz. That comes to $60+ a month.

Insurance is also another matter, but that one you'd have to settle with your agency as it depends on your age, years of driving experience and car you're driving. Expect to pay about $200+ to $300+.

So in total, that's about $1400 without considering parking outside your home or any incidental repairs or ERP.

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Old 10th April 2008, 11:50 PM   #4 (permalink)
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Re: How much income is required to substain a car?

Erm yeah, Wildswans has a point.

My numbers are based on a 10 year loan period, with zero downpayment (as given by sgcarmart.com).

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Old 10th April 2008, 11:54 PM   #5 (permalink)
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Re: How much income is required to substain a car?

$1400!! my goodness...its someone's take home pay....

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Old 10th April 2008, 11:57 PM   #6 (permalink)
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Re: How much income is required to substain a car?

Yah.... Plus you never know what might happen.... You need spare cash for unexpected events too...

Plus with a car, there will be more outing and hence more spending in entertainment so you will need to consider those too

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Old 10th April 2008, 11:59 PM   #7 (permalink)
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Re: How much income is required to substain a car?

Originally Posted by Apocalyptic View Post
I'm driving a Honda Civic and I budget about $1300 a month for my car (including road tax and insurance portions).

Car loan for a Jazz should be about $600 a month
Petrol will depend on how much you travel, but a full tank usually lasts a week and costs about $80. So for a month that's $320.
Season parking at a HDB estate costs $55.

So far that's $1050.

Also note that your road tax should come up to $368 per half year for the Jazz. That comes to $60+ a month.

Insurance is also another matter, but that one you'd have to settle with your agency as it depends on your age, years of driving experience and car you're driving. Expect to pay about $200+ to $300+.

So in total, that's about $1400 without considering parking outside your home or any incidental repairs or ERP.
Dude, tot season parking is $65...

Now Jazz full tank $80 bucks? 5 years back when i was driving the jazz, it was only 40 bucks for full tank. You pump v power huh?

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Old 11th April 2008, 12:02 AM   #8 (permalink)
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Re: How much income is required to substain a car?

Originally Posted by wildswans View Post
Dude, tot season parking is $65...

Now Jazz full tank $80 bucks? 5 years back when i was driving the jazz, it was only 40 bucks for full tank. You pump v power huh?
Err I drive a Civic not a Jazz, and yeah I pump V-Power.

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Old 11th April 2008, 12:09 AM   #9 (permalink)
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Re: How much income is required to substain a car?

Hahhahahahah....

getting old... tot i saw that you were driving a jazz... guess i just stop reading at Honda...

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Old 11th April 2008, 02:21 AM   #10 (permalink)
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Re: How much income is required to substain a car?

Ya man, too many variables. Make some tentative decisions, like what you want to put as downpayment, then can work out roughly what you have to spend each month.

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Old 11th April 2008, 09:20 AM   #11 (permalink)
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Re: How much income is required to substain a car?

Originally Posted by wildswans View Post
Hahhahahahah....

getting old... tot i saw that you were driving a jazz... guess i just stop reading at Honda...
Yeah well, the Jazz is a popular car. They're still selling for around $60k from what I heard in late March.

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Old 11th April 2008, 09:32 AM   #12 (permalink)
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Re: How much income is required to substain a car?

The petrol $ vs the petrol now is a shitload of difference :O TBH if ur parents aint helping u, u're no where near getting a car if u're getting lesser than 2k take homepay.. Why get a car if u end up struggling to feed it , just like what most sg-eans are doing.

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Old 11th April 2008, 09:59 AM   #13 (permalink)
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Re: How much income is required to substain a car?

ok here frm someone with honda fit/jazz

my installment per mth... $305 downpayment $20k..... 1 full tank petrol 85 (esso 8000 aka RON98)

roadtax n insurance nv go bother i pay annually total 1.5k aft 20% ncd

petrol pump abt 1 once a mth... 1 tank abt 600km.... going at abt 15.1 - 16.2 km/l

so ecessially i only paying abt 430 per mth for my car 305+65+80

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Old 11th April 2008, 01:22 PM   #14 (permalink)
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Re: How much income is required to substain a car?

Originally Posted by Yongjin View Post
ok here frm someone with honda fit/jazz

my installment per mth... $305 downpayment $20k..... 1 full tank petrol 85 (esso 8000 aka RON98)

roadtax n insurance nv go bother i pay annually total 1.5k aft 20% ncd

petrol pump abt 1 once a mth... 1 tank abt 600km.... going at abt 15.1 - 16.2 km/l

so ecessially i only paying abt 430 per mth for my car 305+65+80
Lucky you then. I usually set aside another $200 for parking, and my car drinks more petrol.

I guess it depends on your driving style, and how much you travel.

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Old 11th April 2008, 03:39 PM   #15 (permalink)
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Re: How much income is required to substain a car?

yupz... actually i think its the downpayment tat counts.... with a low monthly loan the rest of the ting is easier to settle....

for mi only go office come hm haha go customer site unless inaccessable else i go public also lolz

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Old 11th April 2008, 03:50 PM   #16 (permalink)
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Re: How much income is required to substain a car?

things to consider:

ur downpayment...
ur interest...
ur payment term....

ur insurance, road tax, petrol consumptions, car servicin, parkin etc....
on the average, from wat i had gathered from many drivers, it will b ard $1000....


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Old 11th April 2008, 04:23 PM   #17 (permalink)
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Re: How much income is required to substain a car?

Originally Posted by Yongjin View Post
ok here frm someone with honda fit/jazz

my installment per mth... $305 downpayment $20k..... 1 full tank petrol 85 (esso 8000 aka RON98)

roadtax n insurance nv go bother i pay annually total 1.5k aft 20% ncd

petrol pump abt 1 once a mth... 1 tank abt 600km.... going at abt 15.1 - 16.2 km/l

so ecessially i only paying abt 430 per mth for my car 305+65+80
Petrol just once a month? Wow, you really travel very little. Your office must be pretty close as well.

Btw, how long's the loan? Guess I could work it out roughly but I'm lazy.

Any reason why you're pumping 98 instead of 95? Are you getting better mileage? cuz i fren of mine with a rio is doing just that, and he saves more than he would if he went with 95.

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Old 11th April 2008, 04:35 PM   #18 (permalink)
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Re: How much income is required to substain a car?

I Drive an AudiA6. have to set aside about 3K a month, all in.

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Old 11th April 2008, 07:11 PM   #19 (permalink)
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Re: How much income is required to substain a car?

Originally Posted by AudiA6 View Post
I Drive an AudiA6. have to set aside about 3K a month, all in.
He's kinda asking about using a Jazz as an example though.

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Old 11th April 2008, 08:01 PM   #20 (permalink)
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Re: How much income is required to substain a car?

nt really la... my office at sci pk 2 at nus i live in amk... 25km per day... there n back 50km per day... den sometimes i go customer site in changi also abt 30km... through n flow 60 km lohz... once a mth is base on i either go office n back home or go customer site n back home not running here n there... frm there it come to abt 630km per tank i usaually pump when the needle go slidghly below E which is about 600 lohz...

i took 10 yrs loan.... cos i figure... if i take 7 i going to cough out abt 400+ per mth which plus petrol n parking come out to be 500 wasiting 100+ for nothing anyway i just calc a brake even pt of 3 yrs + so i can change car if i wan to else just hold n clear off the loan early lohz...

welll i go for 98 is cos i wan the power... hahaha although i did use 95 before bt not much milage diff la just abt 0.2 or 0.3 km/l diff... i hate ppl who keep high beam flash mi n zoom off den slow down flash mi agianz... so i usually wont let them go if them do tat


Originally Posted by jencrs View Post
Petrol just once a month? Wow, you really travel very little. Your office must be pretty close as well.

Btw, how long's the loan? Guess I could work it out roughly but I'm lazy.

Any reason why you're pumping 98 instead of 95? Are you getting better mileage? cuz i fren of mine with a rio is doing just that, and he saves more than he would if he went with 95.

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