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Monday, February 26, 2007
Estimate
toyota vios 1.5E A (OPC)

ERP Gantries : probably $75 cos incurred only on weekends and ocassional weekdays

Road tax : $50

Car insurance: $1000 (not using my name)

Instalments: $600 x 12months = $7200

Price with COE OPC : 31,000 (estimated)
Downpayment: 4,000
Loan Amt: 27 000
Interest: 8 775 (3.25%)
Total Outstanding Loan: $35 775 over 5 years


HDB Carpark charges: $65 x 12months = $780

Misc car park charges: $240 ($20 * 12months)

Fuel: $1,800 ($150 * 12months)

Maintenance: $500 (estimate)

Radio subsciption: $27

Off-peak coupon: $20 x 15 = $300 (try limit to 15times per year)

All in all, total cost: $11972 per year
Monthly cost : $998
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toyota vios 1.5E A

ERP Gantries : probably $100 avoid as much as possible

Road tax : $73 x 12months = $876

Car insurance: $1000 (not using my name)

Instalments: $656 x 12months = $7869

Price with COE : 48,000 (estimated)
Downpayment: 3,000
Loan Amt: 45 000
Interest: 10 080 (3.2%)
Total Outstanding Loan: $55 080 over 7 years


HDB Carpark charges: $65 x 12months = $780

Misc car park charges: $240 ($20 * 12months)

Fuel: $2,400 ($200 * 12months)

Maintenance: $500 (estimate)

Radio subsciption: $27

All in all, total cost: $13792 per year
Monthly cost : $1150
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

1st round of my comparison. seems like the difference in OPC and normal car is about $2000 per year. so its actually not that big a difference between the 2. but of cos that would mean 2 more years in paying instalments. and the extra $2000 a year will be useful as well.

but my figures might not be too exact. so i welcome comments so that i can have a clearer picture as well... =)

posted by bobby @ 3:30 PM  
2 Comments:
  • At 11:36 AM, Blogger Royston said…

    Really depends on what you want the car for. Don't buy an OPC because it's cheap, but unless you can be sure the car will only be used from 7pm, or else you will spend alot of time waiting in the car whilst the clock turns to your desired time. Register your car with somebody above 25, 26, the premium is much much lower. At most, you can transfer the name when you hit 25, minimise your costs. Taking 7 years or 10 years is a headache, do you want to drive this car for the full long term? Or do you want to change after 3 years? 7 years breakeven is around 3 years, 10 years breakeven is around 4 years. Are you a safe driver? Experienced? No, get a second hand car, with 5 years left on it. Yes, can consider a new car because the prices are cheap. Manual is cheaper, and if you don't want the options is cheaper. Are you willing to accessorise? ERP is all about siam-ing. But your estimates are very prudent, very good. Other cheap options, depending on usage like I said, Mitsubishi Lancer (roughly $43k now), Kia Picanto (if you don't mind a small car). Also, got even cheaper ones like Evo9MR, WRX STI, Aston Martin DB and the Ferrari 430. Just kidding. Hope this helps.

     
  • At 11:59 AM, Blogger Joanne said…

    my dad sells 2nd hand cars! so if u're really getting one, let me know and i see how i can help :)

     
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Home: Dorset, Island, Singapore
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