Anonymous
My dad wants to buy me my dream car(a jap convertible). He bought my siblings a car each & its tempting to accept it, but it means I have to pay for parking & fuel which costs at least $200 a month ?
I'm 21. This would affect my monthly savings for some long term goals that i am working towards to. Currently saving/investing about 60% of my income. However I think in the future i will never be able to afford this car on my own, so it feels like this will be my only shot of ever owning this car. Should I indulge in this luxury or reject it? He refuses to use the $ to fund my goals (housing) instead of the car as he has already set aside some $ for that but doesnt wanna add anymore to it.
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Siow Nan
29 Jun 2019
E at NUS
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Ask him to buy you the car 5 yrs later.
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Nicholes Wong
07 Jun 2019
Diploma in Business Management at Nanyang Polytechnic
Ask if he can give you cash instead so that you can use the money to make more money. But your dad i...
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It’s funny your dad is giving you a dream car instead of helping you to save up more for your future housing plan which makes more sense if recession comes.
You should work out the calculations and present the sums to him to convince him to put this amount into your housing goals.
alternatively, tell him to buy a more economical car instead and pay you the difference in price for the “dream car” vs the “Budget car” for your housing goal.
if he is still adamant in giving you the dream car.. then you can sell it to finance your house.
in any case, you have an enviable “problem” that not many people has.