BUYING CAR?

COE of cars has dropped to $2. It is definitely a good time to buy car now...... But my final decision is still to hold.

Buying a car is buying a liability. After calculating the cost, it is not worth buying. Below is a summary of the costs involved once you purchased the car.

1) Parking lot (office and home)

2) Installment of loan

3) Insurance

4) Road Tax

5) Petrol

6) ERP

The above easily sum up a monthly expenses of $700. It is an expensive price to pay for convenience.

It is better to put the money to stock market or funds as the prices are pretty low now. Within 3 years, you can easily make a return of 30% and above.

Who knows, you may even pay full amount for the car with the profits made.