Anonymous
What are the activities you can easily do with your own car but not with Taxi/Grab?
Our financial status:
1. 29yo. No kids and not planning to have one in 5 years. After that prolly never have one.
2. Combined income: about 360k/yr, fixed salary
3. Monthly expense: 4k home loan + 5k other expenses.
4. Saving: 70k (just bought a property, still catching up)
I love driving and I'd like to buy one while COE is still cheap but wife is not keen. I feel we are able to afford one while still saving up if we reduce other expenses. So what areas can a private car improve on our lives?
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Brandan Chen
07 Jun 2019
Financial Planner at Manulife Singapore
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Firstly, your current financial status is pretty impressive!
Based on what you have shared, it seems like you are definitely comfortable in affording a car! (unless you are talking about Ferraris, Rolls Royce etc)
I guess you are looking for reasons to convince your wife and here are some:
1) No waiting time or dealing with surge. It can be quite tough to get a Grab/Taxi during peak hours or when it is raining.
2) Able to explore places to paktor which may not be convenient with Taxi/Grab
3) Able to ferry your parents and In-laws when required. (family gatherings, makan etc)
4) Supper or weekend outings in JB
Even with all the suggestions above, it is more important to first understand why your wife isnt keen on getting one. With that, it is much easier to handle her objections.
If cost is a main concern, perhaps you can consider an Off-Peak car, and also offer to send her to work daily so that she doesnt have to deal with the mad rush during rush hours!