By comparison of commuting by Taxi/PHV VS owning a own car, which is more cost saving? - Seedly

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Asked by Jay Liu

Asked on 18 Jun 2018

By comparison of commuting by Taxi/PHV VS owning a own car, which is more cost saving?

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HC Tang
HC Tang
Top Contributor

Top Contributor (Jun)

Level 8. Wizard
Answered on 19 Jun 2018

(A) Cheapest : I think when use public bus / mrt , it is the cheapest options. If one can use citymapper app to find a single bus route and it's not cramp, you get to go home in comfort , seated with aircond and spend some time reading / leaning or relax.

(B) 2nd cheapest : If your destination is near or not too far and able to travel via safe and less crowded route , use PMD. Charge at home and use only. Easily you can bring it around too.

Personally, I think working so hard , trying to learn how to save , invest here. It is not worth to spend so much of monthly salary into paying garmen COE ERP for own cars. It's the same as owing high interest or large sum loan to the bank, kinda like working for them.

PHV is another , daily commute is way too expensive. Consider the first 2 options since we have the best bus / transport infra to a certain extend.

The $ save invest into good instruments and compounded interest will get you retire more comfortablt or even FIRE earlier. Enjoy 😄

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Tang Ching Pang
Tang Ching Pang
Level 3. Wonderkid
Answered on 19 Jun 2018

PHV for working day , going/back from work around $15 x2 trip x 5 days. For weekend, assuming we are going 2 places per day ,around $50x2 days. It ends up spent around $250 per week which is $1000 per months.

For owning a car, it easily to hit $1000 by repaying the car loan itself.

So I think by PHV is more cost saving.

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Kenneth Lou
Kenneth Lou
Level 8. Wizard
Answered on 19 Jun 2018

We got this question some time back before! And a guest contributor actually submitted an article which had some interesting findings:

On average, it costs about S$15,000 to S$16,000 to either drive a car or use ride-sharing services everyday for a year. However, when you take into account other miscellaneous costs like parking & various incentive programs introduced by Grab & Uber, using ride-hailing apps everyday is actually more than 10% cheaper than owning a car for an average consumer in Singapore.

https://blog.seedly.sg/owning-a-car-vs-ride-hailing-apps-which-costs-more-in-singapore/

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Minz Wang
Minz Wang
Level 2. Rookie
Answered on 18 Jun 2018

Definitely Taxi/PHV more cost saving - rebates for frequents by using c.c promo or apps.

Own a car - COE, ERP, insurance, road tax, petrol, inspection, parking fee, car maintenance cost and etc to take care of.

Anyway sitting as passenger is better than a driver. Don't have hunt for parking lots, relax as passenger - Don't have to think how to get to destinations...

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Yong Kah Hwee
Yong Kah Hwee
Level 6. Master
Answered on 20 Sep 2018

Taxi/PHV or public transport. Owning a car is very expensive, with lots of miscellaneous fees to pay.

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Sandy Cham
Sandy Cham
Level 3. Wonderkid
Answered on 19 Jun 2018

I would say its a taxi. But personally I feel public transport is good as well. And if its with someone you love. Even better

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