Monday, February 25, 2008

Owning a car in Singapore is very expensive

My hubby and his friends were calculating the cost of owning a car in Singapore. Their estimation is based on the high side, for e.g. drive to work everyday and parking in CBD area, and also high end estimation of petrol and ERP, etc. For a car that costs 50K and lets say take a 10 year loan, the monthly installment will be about 500 bucks, but the total cost per month is about 1.6K!

WAH... freaked me out man! I think even if I take cab everywhere, that's still cheaper than owning a car!

I think resolution no. 10 has to be postponed until we are economically very very comfortable! And also, maybe it's good to wait until our driving licenses (which are still in progress....) to be a few years old, because the insurance will be cheaper then.

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