As a new car owner, I appreciated many reddit posts by people outlining their experience (from workshops, emergencies, misc things you won’t think of as a car owner). This is my contribution to help any potential car owners make the decision. Firstly, why I bit the bullet to get a car; mainly because my workplace is far away and it saves me about 45 minutes one way. Normally I have to take bus-train-shuttle bus for ~1.5h one way. It definitely improved my quality of life and I have more energy when I get home from work to do chores/exercise/spend quality time with family. Is that worth $X per month? Maybe. It depends on who you ask.
Now for the car. I got a 17yo Honda Fit for $30k. The depre is about $840 per month. I decided to go with a reliable brand and model to reduce the chances of parts breaking down and maintenance cost. Right off the bat, I spent
- $130 to replace (in JB):
1. my car key. The plastic casing was held mainly by tape.
- One of the side mirrors’ motor. It sometimes fail to open and close when I press the button.
- $335 to install a dashcam ((by Dashcam Singapore). As we all know, evidence is important in proving your own innocence or others’ guilt. I hope I never have to use it but I thought it was a necessary purchase.
Monthly cost
- HDB Parking: $110
- Cash Card topup: Fluctuates between $100-$140
- Petrol: $400 (my monthly mileage is about 2,000-2,500km and fuel efficiency is abt 13km/l)
Total monthly: ~$650
Including depre cost: $1500
Yearly cost
- Road Tax: $890 (Quite high as it is an old car)
- Insurance: $2300 (Quite high as it is an old car)
- VICOM Inspection: $71
Total yearly: $3261
Avg per month $270
Total avg per month: Just under $1800
Back to the question of: is it worth it? Definitely my quality of life has improved, and weather doesn’t dampen the weekend mood as much as previously. I also have time to exercise in the morning before work, or start exercising before it gets dark. Normally I would be so tired after work I just wanna chill on the sofa until I sleep. So it is worth it for me. But I acknowledge it is a very steep price for these comfort.
Feel free to ask me any question!