Owning a car vs grab/taxi everyday(almost) Dilemma of a 3 kids dad?

If you are a working dad, personally I will recommend the second hand car. Trying to get 5 seater will be increasingly difficult due to the limited number of such cars on the road.

Furthermore, with a car, you have it for convienence to the extent you can use it at work and avoid squeezing with the MRT crowd during office hours, plus when your kids starts to go to school, you can ferry them too!

Firstly, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit. Here is a guide to help you: https://www.blog.pzl.sg/understanding-your-pers...

Next, study your travel habit for a few months. From the results, calculate the cost of taking a taxi as compared to the opportunity cost of owning a car. At the same time, you will need to understand what type of car that you are intending to buy, as well as its associated cost. Give SGCarMart a try when searching for a car.

While some costs are the same, e.g. parking, there are other costs that you need to take into consideration when buying a car, e.g. maintenance, petrol, insurance, road tax. All these costs add up pretty quickly and you will need to calculate the difference and see if this cost is a worthy opportunity cost.

Having mentioned that, 'owning' a car comes with convenience and a scrap value at the end of its life span. Therefore, time is required to understand your needs, as well as on your cashflow.

If you are open to understanding how I do my calculations when buying and changing a car, drop me a coffee invite: https://www.work.pzl.sg/#coffee

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