I have many peers around my age owning cars. After working out the math, really wonder how they can afford it knowing what they're working as. It boggles me, the math is not mathing.

I can only attribute that to "car math", for those who can't afford it - that said, Singaporeans are pretty well to do in general though, wouldn't discount folks owning cars if they wanna sacrifice going on holidays (not surprised if some can even do both).

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Fun fact: I have heard people saying not to include the downpayment of the car as a cost since you can get that money back

One likely reason could be that they prioritize spending on cars and dining out over other expenses, potentially relying on credit or debt to maintain their lifestyle.

Rich parents i Guess

They might have lesser committements, or they are willin to spend more, and save lesser