facebookI'm a fresh grad that just started my first job. Should I get a car? - Seedly
Seedly logo
Seedly logo
 

Advertisement

Anonymous

08 Jun 2021

I'm a fresh grad that just started my first job. Should I get a car?

My work requires 4 hours of transportation every day (2 hours each way) as it's at Jurong Island. If I drive, I might be able to save the 2 hours every day. Is it worth it to get a car to save that 2 hours? Or should I just tahan and save up the money?

10

    Discussion (10)

    What are your thoughts?

    Elijah Lee

    Elijah Lee

    05 Aug 2019

    Level 17·Independent Financial Advisor at Phillip Securities (Jurong East)

    I did fiddle with that thought also when I started work many years ago, but eventually I decided that cash is king and I'd be better off having cash than burning it. Nowadays however, I do hear of people utilizing grabhitch which may be a better option than buying a car outright.

    A car will probably cost close to $2K/mth to maintain (loans, insurance, maintainence, petrol, ERP, etc), so don't underestimate the cost of having one. I'd say as a rule of thumb that if your annual income is in the top 35% of income earners in Singapore, you may consider one.

    Reply

    Save

    Share

      Alvin Teo

      Alvin Teo

      06 Aug 2019

      Level 7·Aviva Relationship Consultant at Aviva Affinity Channel

      I have a car and I have friends who also pondered that question. Generally if you work at Jurong Island, and your pay should be quite ok, I would say if you like driving and your work hours are irregular “shift work”, getting a car might make sense.
      And you have have more control over your time.

      Reply

      Save

      Share

        I think there're many factors to consider. Do u have other loans that u need to pay off like study l...

        Read 8 other comments with a Seedly account

        You will also enjoy exclusive benefits and get access to members only features.

        Continue with Facebook
        Sign in with Apple

        Sign up or login with an email here

        Write your thoughts

        Advertisement