Can a Fresh Graduate own a car in 2014

With rising costs and increased learning needs, financing our children's education is no longer a simple walk in the park. Discuss with other parents about how they are managing their finances to cope with their expenses.

Can a Fresh Graduate own a car in 2014

Postby wsg » Sun Feb 09, 2014 4:34 pm

Hi All

I just wrote an article on whether a fresh grad can own a car in SG.
Check out the article as below
http://wp.me/p1FMAk-cD

It is not meant to scare you but a reality check for most of us (even after we worked for a few years)

Enjoy and i wish you all the best in this new year 2014!!

wsg
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Re: Can a Fresh Graduate own a car in 2014

Postby ngl2010 » Sun Feb 09, 2014 4:37 pm

Owning a car is a liability :(

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Re: Can a Fresh Graduate own a car in 2014

Postby wsg » Sun Feb 09, 2014 4:49 pm

ngl2010 wrote:Owning a car is a liability :(


Yes it is. But the draw to owning one is definitely very strong until our "big Brother" keep on discouraging us through the years! Haha

wsg
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Re: Can a Fresh Graduate own a car in 2014

Postby zbear » Sun Feb 09, 2014 8:47 pm

A fresh graduate can own a car provided daddy/mummy pays for it.

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Re: Can a Fresh Graduate own a car in 2014

Postby starlight1968sg » Sun Feb 09, 2014 8:50 pm

A car can be a need for families with senior citizens or young kids.
A car becomes a want for a fresh graduate unless his/her job requires.
Overall, it is good to own a car but it comes with a price tag.

starlight1968sg
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Re: Can a Fresh Graduate own a car in 2014

Postby isetan » Sun Feb 09, 2014 10:32 pm

I think it is still possible to own in my opinion. Why need to own new car? A second hand car will do. When I was an young engr, my first car was a 14 years old honda accord and cost me $18k. I commuted everyday and did all my necessary chores during weekends.

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Re: Can a Fresh Graduate own a car in 2014

Postby wsg » Sun Feb 09, 2014 11:20 pm

Haha true.

That's why I wrote another post based on buying 2nd hand car
Check it out

http://sgcarowner.com/2014/02/09/can-a-singapore-fresh-graduate-own-a-car-in-2014-part-2/

wsg
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Re: Can a Fresh Graduate own a car in 2014

Postby isetan » Sun Feb 09, 2014 11:39 pm

I would say that owning a new car will be very tough not only to fresh grads but also to those who are already many years into the working career. If you are in your middle age you would consider set aside some money for the family, especially those who are having kids and save for further education. If you are in your 50+, though your income is high (I presume), you wld consider saving for the retirement. So different stage got different problem. Now that the coe is so high, for some, owning a new car is a dream only.

isetan
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Re: Can a Fresh Graduate own a car in 2014

Postby pirate » Sun Feb 09, 2014 11:47 pm

20 years ago, the brightest fresh graduates I know did not buy new cars. And I am talking about the cream of the crop, not just "good honours degrees" but the top 5% of the honours class. Well... except when Mom and Pop sponsored it...

Now, 20 years later, the same people are driving SUVs and continental cars. They are now amongst the top earners in their professions or hold superscale positions in the public service.

So, what has changed that we need to be concerned about? Well... other than that the fresh graduates of this generation actually think that merely graduating with a "good honours degree" entitles one to be able to afford to buy a brand new car and that it is somehow the fault of the government that they cannot?

pirate
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Re: Can a Fresh Graduate own a car in 2014

Postby Nebbermind » Sun Feb 09, 2014 11:53 pm

20 yrs ago, my boss drove a 1.6 japanese car...most executive owned used car that cost btw $10~20k...the expectation was rather different then.

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