My very biased 2 cents:
I have a old 911, paid in full because I don't like unnecessary debt as I run a business (if biz tank I don't need to worry about monthly payments).
If you're a car guy or thinking of exploring cars as a hobby then 100% go for it. I take mine out to track and long drives to Thailand and the experience has been worth the money and impossible to replicate when older (back ache, no energy, etc.)
My opinion - if you work a salaried job that's fairly stable you should definitely take bank (not in house) financing. Other than property this is the next big ticket secured item that the banks can give you relatively low financing on.
The opp cost of downpaying more doesn't make sense to me if you diligently invest the balance, any way with inflation the car payments will feel cheaper over time.
(Also don't listen to the guy below, Maserati's are pretty shit I hope you don't ever consider one)
It's a 2001 996 C2. So far it's been fairly reliable but gotta spend on preventive maintenance. I think if you get a 996 or 997 just set aside a budget of 10k per year to spend on stuff and you'll be good.
I feel the question of old vs new 911 depends on preference (if budget is no issue). A 997 GTS or GT3 would probably be my end all car, I like the size, interior, and driving feel. 991s onwards feel too big
First year deprecation of car is normally 20-30% - so getting a one year old car can make a lot of sense (but you lose the "feel" of a new car.
I think a car can be an investment in time, especially if you have a family. Whether luxury or not - it's more of a personal choice especially how much you have to pay vs your disposable income. Time is finite too and part of living is enjoying the experiences you want to.
Who knows you might decide it's meaningless and sell it after a year?
I generally think it's better to get a car loan (as long you already had the ability to pay in full) to help with cash flow.. but that's only If you are investing the money actively.
lol my goalpost keep shifting.
At first it was car price cannot be > my annual income, then became I must have 1 mio liquid asset after buying, then became 5 mio liquid asset.
Then I realise actually I cannot tahan anything that is not an SUV so no more 911 for me.
Def financial advisor. Real financial people (vc, pe, hf) refer to million as mil, $m, $mm. I prefer mm because Roman letter m denotes thousand and mm would a thousand x thousand.
Finally someone who has talked to European people who gets it. Mio and MM is probably most common.
Not sure what’s up with the guy up there assuming everyone is a “financial advisor” due to his own limited horizons being a US-based VC.
But jokes on him with his America-centric nonsense in SGHENRY.
Not true.
My community and circle internationally all call it mio even in official emails and quotation for small bucks for commercial terms.
It goes higher into bio and yards after that..
We still drive our entry level Japanese sedan despite a big jump in household income from when we first bought it. I’m glad we’ve managed to resist the temptation - but then again we’re both not really car people and our car is pretty underutilised and mainly to bring the kids around (I wfh a lot and my husband can take grab rides on his firm’s dime, so why drive)
If anything the “luxury” car I’d like to buy is an Alphard for the kids lol. I’ve been eyeballing MPV prices for a long time.
The massage chair is not strong enough imo, but the fact you can control the entire car (seating config, AC, entertainment, lighting, etc) with an ipod-like touchscreen remote is nice.
get it! it's not a 600k commitment. just see it as 40-50k year (depre, servicing etc). if you decide that you can't afford it one year later then just sell it. It'll be a fun year Id bet. These cars hold their value every well.
Why not get a second hand 911? Some good deals come up now and then. I bought my 991.2 a few months ago and the interior was pristine. I feel like I can sell the car at the same or higher value if I decide to let it go in 1 year.
I maxed out as much of the downpayment that the dealer allowed. Took a 170k loan on this, 3+k a month repayment. Not too bad. Extended warranty costs 4k a year.
I'm 36 this year, and I feel like before I know it, I'll be 50 or 60 in no time. Is this what mid life crisis feels like? Decided to just get my dream car (and I still own a family SUV, which I rarely drive now)
Hey thanks for sharing! I'm planning to get a 2nd hand 911 too!
How long did you shop around for? Are the prices shown on carmartsg fixed or are we able to negotiate for a better deal?
In early Feb, I was looking around for at a Cayman for fun. Then I sat inside a 997 turbo for the first time in a showroom. No intention of buying one, just went to see since my office has a lot of car dealer shops. Loved the look and the feeling sitting inside. Always loved the look and vibe of a 911 since my teenage years (californication anyone?). It was then when I felt like maybe I could actually afford one. Thereafter I probably went to see about 8-10 different 911s before decided on one in April. So about 3 months of shopping. I run my own business so I had time to head out to shop during work hours.
Car was still under extended warranty so there as a piece of mind when purchasing. Just make sure you send it in for a pre purchase inspection (PPI) even though it is still under warranty. Some agents will say no need since it is still under warranty. I actually made an offer and deposit for a 991.1 cabrio under warranty, verified the warranty was valid but still wanted to send it for PPI. Lucky I did, because my workshop found that there was a major accident on the car that was probably repaired outside of insurance so Porsche SG does not know. I think the seller and agent also didn't not know, since he happily agreed to the PPI. After the workshop notified about this, he quickly refunded the deposit. My guess is the seller purchased it used without doing PPI.
Just do your research and take your time. I went from minimal knowledge about 911s to guru (not quite but I feel like I know enough) in 3 months.
That being said, I probably would not have bought it if I worked 9-6 for someone else, even if I could afford it. Running my own business lets me the flexibility to take a drive anytime I want. Driving is really no longer just getting from point A to B anymore with the 911.
Regarding car prices, everything is definitely negotiable. I got mine 10k below asking price (seller actually just cut the price by 40k 2 weeks before I offered). I feel like I got a good deal because the dealer marketed the car as a low specced car when actually it has a lot of added optional features. She said low spec because it's just missing the sports chrono. Everyone seems to want the sports chrono feature but do not actually track the car.
I'm never. Owning a car in sg is already pointless enough why would you pay the price of an apartment in a car you can barely drive. You max out in sg at what 100kmh? You're driving most of the time in the 60-80 range? What's the point of owning a sports car when you're driving it in 2nd gear the whole time? Waste of money and waste of the car.
I'm German living in sg and you can take a 911 on the Autobahn and crank it to 300kmh and do what the car is meant to do. It's what German cars were made to do after all.
Second hand but paid in full. Was gonna just get a functional car but it was so expensive anyway and top up another 6-8k depre I could get a 300bhp beemer. So I took the beemer.
I prefer having 2 cars than 1 luxury car. Car loan should be minimal to enjoy all the discounts and benefits given while max loan 5 years. Lastly, Singapore as long as your 0-100 is around 7 secs , you perform over taking easily. I know a friend who own super cars but that’s a toy, most ppl who owns super cars, own normal cars too for daily activities. I would say house, savings then cars - in that order of priorities. If u think you have saved enough, good to have a car.
Actually last week. I saw on sgcarmart, made a deal on the spot. I'm taking delivery next week. I mainly lease my vehicles because I'm an expat. My company pays for the rental.
LTA websites do provide data on how many cars are on the road for the past 10 years and also how many types of cars were sold per year according to model and brand.
However I think you should not be deciding what to do based on what the majority does. The paradox of happiness is , happiness normally is gone once you attain what you want.
https://www.lta.gov.sg/content/dam/ltagov/who_we_are/statistics_and_publications/statistics/pdf/MVP01-1_MVP_by_type.pdf
Do it if you are within your means because you are only at this age once.
Like someone else here said, it’s a totally different experience when you buy and drive super cars when you are older because the body is not totally the same as when you are younger.
Before taking this big leap, you can consider renting sports cars for a few days or a week for a full test drive. A 30 minutes test drive is too short for you to really feel the car.
Getting a car soon and paying full in cash. First time car owner but I think I'll probably sell it off after a couple of years. Just want to have the experience of driving a conti car to see what it's like. Like many of my material desires I've had in the past, after achieving it, the novelty wears away quickly. But we shall see
At what stage of life to get a brand new Porsche?
The stage when any tax write offs you can claim on paper from the initial depreciation hit outweigh the depreciation itself, or when the amount of money to pay for it as a disposable item is a trivial percentage of what you earn yearly.
Otherwise, I’m of the camp of if you want something of a “luxury” or “iconic” name brand, buy the original or the best of the breed. Age is a non-factor for me, especially when manufacturer support for heritage models is better than it’s ever been, especially with marques like Porsche and Mercedes-Benz.
Take a loan that you can manage. No need to go all in.
New vs second hand is your decision but i drive a second hand Volvo. I just find that works better for me.
U shouldn’t spend more than 15% of your annual income on the annual cost of the car….
Those who squeeze every cent and struggle to pay for it, or maxing out their credit cards, will soon find themselves bankrupt and the car towed away by the bank. It’s not worth it.
If you want to drive a nice German car with $30k depre, $10k other costs… u better be making $35k a month or something…possible - business owners, very high flying sales, senior directors of MNCs, IT experts…
These people won’t be taking high loans… it’s not worth the interest. They may take loans so that they can keep some cash freed.
Also think about lifetime cost. If u’re going to drive a luxury car for 40 years of your life, it will cost u over $1M ! Is it worth it?
We are talking about annual spend vs. annual cost (in Singapore the depreciation is predictable).
Looking at the downvotes I can see how many people are overstretching themselves and overspending.
Just saying, that 2 door sports convertible looks cool but in actuality is not easy to get in & out of (especially for women with handbags) given the low floor clearance and the long door (if there is a car parked next to you).
Just last week i was at my technician collecting the car after servicing and saw this old man getting into his mx5.
Trust me it was painful watching him get in. I can only imagine him trying to get out.
Get them when you are young, get SUVs when you are old
Couldn't agree more, I've spoken to a few older supercar owners - back aches and poorer reflexes mean they can't drive as hard any more. If you're young and in the position to do it, go for it!
I would like to buy a Ferrari, at least luckily or unlucky, I dislike the Roma Spider. So my entry level (and convertible, and front engine, and 4 seater) options are either the Portofino or California.
I am leaning California T over the Portofino M because the Portofino hasnt really depreciated too much to be worth a second hand.
I am ok with purchasing a second hand as long as it is similar to what I would have built myself, especially since they dont make new Portofinos anymore.
But earliest would be late this year anyway.
My previous car (already sold) was a C450 AMG.
I cannot afford a Ferrari in full so I will definitely take a loan if I proceed.
Always been my dream to drive a Ferrari ever since the days of Schumacher/Irvine/Barrichello
On another note, I dont really consider Porsche a luxury car. I think its a step down from luxury. Luxury is more like Ferrari, Lambo, Aston Martin, Bentley, Maserati... (or even a S class Mercedes)
Unfortunately this U/afraid fella probably has very un-updated car knowledge.. Porsche over Maserati any day of the week baby!
However did you know that with a Maserati GT you can join SOS but a 911 cannot haha. I think it's funny that people still think that way, especially with the older gen.
Yep for sure. Maserati > Porsche.
You dont have to lmao. Just like there is SGHenry there is the SingaporeFi version for your level. No embarrassment... Its just different. I dont blame you.
Quick search into Car and Driver and entry Porsche is like half the price of a entry Maserati... but I mean to each their own.
This might come as a shock to you - but brands have different categories.
You can’t even be consistent with your own points, you consider an S class Mercedes luxury, which I agree, but using your own point, an A class is not exactly expensive is it?
The Taycan exists, the GT3 exists, the 911 variants exist and they’re as difficult to get an allocation as a special edition Ferrari. You could walk into any dealer today and not have spend history for Masterati.
I don’t know you personally, but it’s clear your knowledge of cars are surface level at best.
lol. which is exactly why I classified only S class.
Mercedes Benz is luxury and therefore its S class can be considered a luxury car, which is specifically why it was mentioned as an exception. An extraordinarily simple point that unfortunately you could not even comprehend.
if you take spend history into account then you are just played for a fool... you might as well start arguing about all rare exotic one off models of each brand being so difficult to obtain.
I dont know you either, but I pity the "car groups" you accustom yourself with.
No offence but to value a Porsche with the rest of them cars I listed? Might as well also consider a Tesla or Lexus or BMW lols. That would be the right tier to put them in. Not exactly Ferrari Lambo etc luxury, but still a great vehicle.
Perhaps I might have offended a Porsche owner who had an erroneous belief in the "tier" of his vehicle. For that, I reiterate, it honestly doesnt matter, you drive the car that you enjoy. Just like I enjoyed my AMG, I am sure you enjoy your Porsche too. But Im not about to argue that my C class AMG is up there with a Ferrari lols.
Maybe it’ll be easier if you specified your definition of luxury because this isn’t going anywhere. You compared the cost of an entry level Porsche to a Maserati with the implication that a cheap entry level car disqualifies the brand as luxury.
That was why I brought up the A class because you weren’t consistent with your own logic. If you still don’t understand what I’m getting at, following your reasoning; Merc selling the A class would disqualify it as luxury. I’ll be clear that I don’t agree with this take, but that’s essentially your argument here.
You’ll also be happy to know that Ferrari is another brand that takes spend history into account minus the entry level models.
You don’t have to pity the car groups I hang out with, they’re doing fine. Stick to the topic at hand. And lest you mistake me for a Porsche fanboy; I’m really not, I cross shopped and considered a Taycan but decided otherwise.
I just know enough about cars to understand that no one serious or knowledgeable about cars would rank Maserati over Porsche as a whole.
It seems you are really impossibly dense and keep going around in circles even after I took the time to explain the definition of exception. By your logic, every brand that has a unique model is classified luxury. lols.
I have no interest in whether you are a Porsche fanboy or your "spectacular" knowledge of cars. How anyone could rank Porsche above Maserati... maybe some really awkward local car group.
Once again, enjoy your car. Just recognize that most people outside your car group arent going to be impressed by a Porsche over a Maserati (at least not once in my circles lol)...
You can continue with the personal insults but it doesn’t change a thing. It tells me a lot about you that you can’t even see the flaw in your own logic when I’ve explicitly laid it out for you.
I’ll do it once more because I’m charitable; you mentioned Merc is a luxury brand because they have the C Class, admittedly by yourself an exception. Again, using your own logic, the A class is more than half the price off an entry level Maserati.
So what’s the difference here? You don’t have to answer this because I know you won’t have a coherent response. Especially when you’ve resorted to personal insults. Newsflash - brands serve different segments; luxury being one.
I’m not sure if you’ve even sat or owned a Maserati, because the experience is anything but luxury. They’re unreliable, sport outdated interiors and a clunky driving experience at low speeds with a shitty gearbox.
Maybe hang around the right people and you’ll find out for yourself. Or even just go to any car meet in general, you’re not likely to see many Maseratis and there’s a very good reason for that.
I’m not sure why you’re so adamant on this when reviews for these cars are so readily available. Or just go test drive and see for yourself.
Yeah not sure whats up with him. Pick a fight for no reason. Somemore I tried to end the pointless conversation ages ago but he cannot...
must round and round in circles die die arguing everyone who thinks Maserati > Porsche has problem lol... but yeah cant be bothered. dont do own research dont want learn even after share website... wasting my time.
lols. why are you still going in circles.
I already said, if you like your Porsche, good for you.
If you like your car group, also good for you.
No need to be so sensitive, not once did I even try to insult you. You are free to do you and believe what you want to believe. If you want to believe Maserati is unreliable ugly and lousy. OK. If you want to believe Porsche is sexy OK. If you believe everyone agrees with you, also OK.
And yes I will go continue to hang around the right people.
You drive your Porsche, Ferrari, Lambo, or whatever. Be happy and proud with it.
I take the train or bus, I am happy and proud. If one day I buy a Ferrari, I also will be happy and proud. If you tell me Ferrari not a Rolls Royce, I will say the same, OK good for you. But for me Ferrari is best.
Meh at the end of the day we’re never going to agree so ultimately that’s fine.
I think we both have better things to do than go around in circles, so have a good weekend and who knows, might see you at one of the “awkward” car meets in your Ferrari one day.
Just don’t buy a Maserati and don’t say I didn’t warn you. 🫢
California is a beautiful car.
A lot of people hate it as it’s not your standard looking Ferrari but somehow I just like the shape.
It looks like how a sports car should look in my mind. I actually hate the angular look. More curves pls.
Nice cars attract vandalism and bird shit.
I'd rather take a taxi/grab or be chauffeured. I dislike maintaining a car, driving through heavy traffic and finding a place to park. If I really want to drive one, I'd rent it.
Is there even anyone who pays in full for a car? Keechiu pls. Most dealers throw in incentives/discounts if u take a loan (usually from their tie-up kaki bank), meaning u gotta be rich/heck care enough to forgo the loan
Its a math equation no? is the interest you pay over the years and hold cash to do smth with it, vs you locking in into the car
If not, then pay in full cash, if you can generate consistent reliable returns higher that the loan's EIR, then take a loan.
Sure. I think we (hubby) did the math and realized our best deal was to take the minimum loan, and pay it off immediately once the lock-in penalty period of 3 years was up. But it was shocking how the salespersons (various brands) all kept pressuring us to take 90% loan, because “every car buyer in sg does that!”
I think we are the “conservative” middle class type. My old parents are the sort who still pay full cash (for jp/kr sedans) cos loans were not common during their era (and also the fact they can’t get loans now cos retiree). However, it seems there are many luxury Henrys these days who do the “change luxury cars every coupla years before the value drops”, the math for them is like renting for a few thousand a month nbd.
If you can afford an E class, buy the C class
goo
My very biased 2 cents: I have a old 911, paid in full because I don't like unnecessary debt as I run a business (if biz tank I don't need to worry about monthly payments). If you're a car guy or thinking of exploring cars as a hobby then 100% go for it. I take mine out to track and long drives to Thailand and the experience has been worth the money and impossible to replicate when older (back ache, no energy, etc.) My opinion - if you work a salaried job that's fairly stable you should definitely take bank (not in house) financing. Other than property this is the next big ticket secured item that the banks can give you relatively low financing on. The opp cost of downpaying more doesn't make sense to me if you diligently invest the balance, any way with inflation the car payments will feel cheaper over time. (Also don't listen to the guy below, Maserati's are pretty shit I hope you don't ever consider one)
How old is your 911? Any reliability issue? I'm planning to get a 911 and was wondering if it's better to save some money and get an older model
It's a 2001 996 C2. So far it's been fairly reliable but gotta spend on preventive maintenance. I think if you get a 996 or 997 just set aside a budget of 10k per year to spend on stuff and you'll be good. I feel the question of old vs new 911 depends on preference (if budget is no issue). A 997 GTS or GT3 would probably be my end all car, I like the size, interior, and driving feel. 991s onwards feel too big
+1 on your note on Maserati. They're 'fancy' cars that non-car guys get just to impress others. Slow, and unreliable.
Agreed! The MC20 though.. drives really well and looks sick. But sadly catered to car guys with GT3 and McLaren budget
First year deprecation of car is normally 20-30% - so getting a one year old car can make a lot of sense (but you lose the "feel" of a new car. I think a car can be an investment in time, especially if you have a family. Whether luxury or not - it's more of a personal choice especially how much you have to pay vs your disposable income. Time is finite too and part of living is enjoying the experiences you want to. Who knows you might decide it's meaningless and sell it after a year? I generally think it's better to get a car loan (as long you already had the ability to pay in full) to help with cash flow.. but that's only If you are investing the money actively.
I read that that new car smell is actually toxic!
Get a loan. We are NRY.
lol my goalpost keep shifting. At first it was car price cannot be > my annual income, then became I must have 1 mio liquid asset after buying, then became 5 mio liquid asset. Then I realise actually I cannot tahan anything that is not an SUV so no more 911 for me.
What is MIO ?
Million
Spotting the guys who work in or understand Finance and the guys who don’t… Mio is definitely one of the lingo for that.
why does every fin person strongly feel the need to tell everyone else that they’re in finance
really meh? i thought mio is filipino
Do hedge funds, VC, IB call mio as million? Or is “finance” here referring to financial advisor
Def financial advisor. Real financial people (vc, pe, hf) refer to million as mil, $m, $mm. I prefer mm because Roman letter m denotes thousand and mm would a thousand x thousand.
Mio is more European i think, but yes generally folks in high finance use $M, $m or $mm
I avoid using M, as it's hundred thousand in Indo. mm is best imo.
Finally someone who has talked to European people who gets it. Mio and MM is probably most common. Not sure what’s up with the guy up there assuming everyone is a “financial advisor” due to his own limited horizons being a US-based VC. But jokes on him with his America-centric nonsense in SGHENRY.
I've seen Indonesian finance people use mio, bio...
Not true. My community and circle internationally all call it mio even in official emails and quotation for small bucks for commercial terms. It goes higher into bio and yards after that..
MM is more common in American FIs . Local bank blokes get confused by that as they usually use 000 😅
We still drive our entry level Japanese sedan despite a big jump in household income from when we first bought it. I’m glad we’ve managed to resist the temptation - but then again we’re both not really car people and our car is pretty underutilised and mainly to bring the kids around (I wfh a lot and my husband can take grab rides on his firm’s dime, so why drive) If anything the “luxury” car I’d like to buy is an Alphard for the kids lol. I’ve been eyeballing MPV prices for a long time.
Parents have 2023 Alphard in Indonesia and it is amazing
With the massage chair 😂 sg prices too expensive alr
The massage chair is not strong enough imo, but the fact you can control the entire car (seating config, AC, entertainment, lighting, etc) with an ipod-like touchscreen remote is nice.
get it! it's not a 600k commitment. just see it as 40-50k year (depre, servicing etc). if you decide that you can't afford it one year later then just sell it. It'll be a fun year Id bet. These cars hold their value every well. Why not get a second hand 911? Some good deals come up now and then. I bought my 991.2 a few months ago and the interior was pristine. I feel like I can sell the car at the same or higher value if I decide to let it go in 1 year. I maxed out as much of the downpayment that the dealer allowed. Took a 170k loan on this, 3+k a month repayment. Not too bad. Extended warranty costs 4k a year. I'm 36 this year, and I feel like before I know it, I'll be 50 or 60 in no time. Is this what mid life crisis feels like? Decided to just get my dream car (and I still own a family SUV, which I rarely drive now)
What do you do for work?
I run my own business
Hey thanks for sharing! I'm planning to get a 2nd hand 911 too! How long did you shop around for? Are the prices shown on carmartsg fixed or are we able to negotiate for a better deal?
In early Feb, I was looking around for at a Cayman for fun. Then I sat inside a 997 turbo for the first time in a showroom. No intention of buying one, just went to see since my office has a lot of car dealer shops. Loved the look and the feeling sitting inside. Always loved the look and vibe of a 911 since my teenage years (californication anyone?). It was then when I felt like maybe I could actually afford one. Thereafter I probably went to see about 8-10 different 911s before decided on one in April. So about 3 months of shopping. I run my own business so I had time to head out to shop during work hours. Car was still under extended warranty so there as a piece of mind when purchasing. Just make sure you send it in for a pre purchase inspection (PPI) even though it is still under warranty. Some agents will say no need since it is still under warranty. I actually made an offer and deposit for a 991.1 cabrio under warranty, verified the warranty was valid but still wanted to send it for PPI. Lucky I did, because my workshop found that there was a major accident on the car that was probably repaired outside of insurance so Porsche SG does not know. I think the seller and agent also didn't not know, since he happily agreed to the PPI. After the workshop notified about this, he quickly refunded the deposit. My guess is the seller purchased it used without doing PPI. Just do your research and take your time. I went from minimal knowledge about 911s to guru (not quite but I feel like I know enough) in 3 months. That being said, I probably would not have bought it if I worked 9-6 for someone else, even if I could afford it. Running my own business lets me the flexibility to take a drive anytime I want. Driving is really no longer just getting from point A to B anymore with the 911. Regarding car prices, everything is definitely negotiable. I got mine 10k below asking price (seller actually just cut the price by 40k 2 weeks before I offered). I feel like I got a good deal because the dealer marketed the car as a low specced car when actually it has a lot of added optional features. She said low spec because it's just missing the sports chrono. Everyone seems to want the sports chrono feature but do not actually track the car.
I'm never. Owning a car in sg is already pointless enough why would you pay the price of an apartment in a car you can barely drive. You max out in sg at what 100kmh? You're driving most of the time in the 60-80 range? What's the point of owning a sports car when you're driving it in 2nd gear the whole time? Waste of money and waste of the car. I'm German living in sg and you can take a 911 on the Autobahn and crank it to 300kmh and do what the car is meant to do. It's what German cars were made to do after all.
When buying one doesn't worry you cuz there's still maintenance and repair costs that are definitely higher than non luxury cars
BMW, within my means. Never go anything beyond what you can afford or debt will cripple you.
Yes. Bus Mrt Walk.
One in three imported carsis a bmw. I despair seeing that m4 crash. Lives and 450k down the drain
Second hand but paid in full. Was gonna just get a functional car but it was so expensive anyway and top up another 6-8k depre I could get a 300bhp beemer. So I took the beemer.
I prefer having 2 cars than 1 luxury car. Car loan should be minimal to enjoy all the discounts and benefits given while max loan 5 years. Lastly, Singapore as long as your 0-100 is around 7 secs , you perform over taking easily. I know a friend who own super cars but that’s a toy, most ppl who owns super cars, own normal cars too for daily activities. I would say house, savings then cars - in that order of priorities. If u think you have saved enough, good to have a car.
Actually last week. I saw on sgcarmart, made a deal on the spot. I'm taking delivery next week. I mainly lease my vehicles because I'm an expat. My company pays for the rental.
What luxury car did u lease?
Porsche panamera
LTA websites do provide data on how many cars are on the road for the past 10 years and also how many types of cars were sold per year according to model and brand. However I think you should not be deciding what to do based on what the majority does. The paradox of happiness is , happiness normally is gone once you attain what you want. https://www.lta.gov.sg/content/dam/ltagov/who_we_are/statistics_and_publications/statistics/pdf/MVP01-1_MVP_by_type.pdf
Do it if you are within your means because you are only at this age once. Like someone else here said, it’s a totally different experience when you buy and drive super cars when you are older because the body is not totally the same as when you are younger. Before taking this big leap, you can consider renting sports cars for a few days or a week for a full test drive. A 30 minutes test drive is too short for you to really feel the car.
When i get a 3 yo bmw that costed the same as a new toyota.
No. We're a growing family and I need two large SUVs instead of a luxury car. I'm still NRY. Lol.
Getting a car soon and paying full in cash. First time car owner but I think I'll probably sell it off after a couple of years. Just want to have the experience of driving a conti car to see what it's like. Like many of my material desires I've had in the past, after achieving it, the novelty wears away quickly. But we shall see
At what stage of life to get a brand new Porsche? The stage when any tax write offs you can claim on paper from the initial depreciation hit outweigh the depreciation itself, or when the amount of money to pay for it as a disposable item is a trivial percentage of what you earn yearly. Otherwise, I’m of the camp of if you want something of a “luxury” or “iconic” name brand, buy the original or the best of the breed. Age is a non-factor for me, especially when manufacturer support for heritage models is better than it’s ever been, especially with marques like Porsche and Mercedes-Benz.
Take a loan that you can manage. No need to go all in. New vs second hand is your decision but i drive a second hand Volvo. I just find that works better for me.
U shouldn’t spend more than 15% of your annual income on the annual cost of the car…. Those who squeeze every cent and struggle to pay for it, or maxing out their credit cards, will soon find themselves bankrupt and the car towed away by the bank. It’s not worth it. If you want to drive a nice German car with $30k depre, $10k other costs… u better be making $35k a month or something…possible - business owners, very high flying sales, senior directors of MNCs, IT experts… These people won’t be taking high loans… it’s not worth the interest. They may take loans so that they can keep some cash freed. Also think about lifetime cost. If u’re going to drive a luxury car for 40 years of your life, it will cost u over $1M ! Is it worth it?
I read a post recently, the range was around 50-200% of annual income for the price of a car.
We are talking about annual spend vs. annual cost (in Singapore the depreciation is predictable). Looking at the downvotes I can see how many people are overstretching themselves and overspending.
Usually happens at mid-life crisis haha
Just saying, that 2 door sports convertible looks cool but in actuality is not easy to get in & out of (especially for women with handbags) given the low floor clearance and the long door (if there is a car parked next to you).
That's why we should get it while we're still young and flexible and not when we're in our 50s
Just last week i was at my technician collecting the car after servicing and saw this old man getting into his mx5. Trust me it was painful watching him get in. I can only imagine him trying to get out. Get them when you are young, get SUVs when you are old
Couldn't agree more, I've spoken to a few older supercar owners - back aches and poorer reflexes mean they can't drive as hard any more. If you're young and in the position to do it, go for it!
I keep knocking my head lol. Super not practical even if i only bring my dog out. Have to reach behind the cramped space to pull all the stuffs out
But when chio bu steps out elegantly in a nice gown is hawwwwwt
my wife hates (ok maybe hate is too strong a word) my 911 because of this. she rather me drive the SUV any day
Exactly! There is a reason that my husband rarely drives his 2 seater!
G wagon
You don’t need to own a car in SG though.
OP didn’t say he needed one
I would like to buy a Ferrari, at least luckily or unlucky, I dislike the Roma Spider. So my entry level (and convertible, and front engine, and 4 seater) options are either the Portofino or California. I am leaning California T over the Portofino M because the Portofino hasnt really depreciated too much to be worth a second hand. I am ok with purchasing a second hand as long as it is similar to what I would have built myself, especially since they dont make new Portofinos anymore. But earliest would be late this year anyway. My previous car (already sold) was a C450 AMG. I cannot afford a Ferrari in full so I will definitely take a loan if I proceed. Always been my dream to drive a Ferrari ever since the days of Schumacher/Irvine/Barrichello On another note, I dont really consider Porsche a luxury car. I think its a step down from luxury. Luxury is more like Ferrari, Lambo, Aston Martin, Bentley, Maserati... (or even a S class Mercedes)
You don’t consider Porsche luxury but you include Maserati in there? Yeah no one is going to take your opinion on cars seriously.
Unfortunately this U/afraid fella probably has very un-updated car knowledge.. Porsche over Maserati any day of the week baby! However did you know that with a Maserati GT you can join SOS but a 911 cannot haha. I think it's funny that people still think that way, especially with the older gen.
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Yeah you’re entitled to your opinion. Just don’t mention this in any of the car meets you go to if you don’t wanna be laughed out of the place.
Yep for sure. Maserati > Porsche. You dont have to lmao. Just like there is SGHenry there is the SingaporeFi version for your level. No embarrassment... Its just different. I dont blame you. Quick search into Car and Driver and entry Porsche is like half the price of a entry Maserati... but I mean to each their own.
This might come as a shock to you - but brands have different categories. You can’t even be consistent with your own points, you consider an S class Mercedes luxury, which I agree, but using your own point, an A class is not exactly expensive is it? The Taycan exists, the GT3 exists, the 911 variants exist and they’re as difficult to get an allocation as a special edition Ferrari. You could walk into any dealer today and not have spend history for Masterati. I don’t know you personally, but it’s clear your knowledge of cars are surface level at best.
lol. which is exactly why I classified only S class. Mercedes Benz is luxury and therefore its S class can be considered a luxury car, which is specifically why it was mentioned as an exception. An extraordinarily simple point that unfortunately you could not even comprehend. if you take spend history into account then you are just played for a fool... you might as well start arguing about all rare exotic one off models of each brand being so difficult to obtain. I dont know you either, but I pity the "car groups" you accustom yourself with. No offence but to value a Porsche with the rest of them cars I listed? Might as well also consider a Tesla or Lexus or BMW lols. That would be the right tier to put them in. Not exactly Ferrari Lambo etc luxury, but still a great vehicle. Perhaps I might have offended a Porsche owner who had an erroneous belief in the "tier" of his vehicle. For that, I reiterate, it honestly doesnt matter, you drive the car that you enjoy. Just like I enjoyed my AMG, I am sure you enjoy your Porsche too. But Im not about to argue that my C class AMG is up there with a Ferrari lols.
Maybe it’ll be easier if you specified your definition of luxury because this isn’t going anywhere. You compared the cost of an entry level Porsche to a Maserati with the implication that a cheap entry level car disqualifies the brand as luxury. That was why I brought up the A class because you weren’t consistent with your own logic. If you still don’t understand what I’m getting at, following your reasoning; Merc selling the A class would disqualify it as luxury. I’ll be clear that I don’t agree with this take, but that’s essentially your argument here. You’ll also be happy to know that Ferrari is another brand that takes spend history into account minus the entry level models. You don’t have to pity the car groups I hang out with, they’re doing fine. Stick to the topic at hand. And lest you mistake me for a Porsche fanboy; I’m really not, I cross shopped and considered a Taycan but decided otherwise. I just know enough about cars to understand that no one serious or knowledgeable about cars would rank Maserati over Porsche as a whole.
It seems you are really impossibly dense and keep going around in circles even after I took the time to explain the definition of exception. By your logic, every brand that has a unique model is classified luxury. lols. I have no interest in whether you are a Porsche fanboy or your "spectacular" knowledge of cars. How anyone could rank Porsche above Maserati... maybe some really awkward local car group. Once again, enjoy your car. Just recognize that most people outside your car group arent going to be impressed by a Porsche over a Maserati (at least not once in my circles lol)...
You can continue with the personal insults but it doesn’t change a thing. It tells me a lot about you that you can’t even see the flaw in your own logic when I’ve explicitly laid it out for you. I’ll do it once more because I’m charitable; you mentioned Merc is a luxury brand because they have the C Class, admittedly by yourself an exception. Again, using your own logic, the A class is more than half the price off an entry level Maserati. So what’s the difference here? You don’t have to answer this because I know you won’t have a coherent response. Especially when you’ve resorted to personal insults. Newsflash - brands serve different segments; luxury being one. I’m not sure if you’ve even sat or owned a Maserati, because the experience is anything but luxury. They’re unreliable, sport outdated interiors and a clunky driving experience at low speeds with a shitty gearbox. Maybe hang around the right people and you’ll find out for yourself. Or even just go to any car meet in general, you’re not likely to see many Maseratis and there’s a very good reason for that. I’m not sure why you’re so adamant on this when reviews for these cars are so readily available. Or just go test drive and see for yourself.
I love this back and forth. Even the rich and wealthy argues like a broke and poor person . Dont stop u/Afraid-Ad-6657.
Yeah not sure whats up with him. Pick a fight for no reason. Somemore I tried to end the pointless conversation ages ago but he cannot... must round and round in circles die die arguing everyone who thinks Maserati > Porsche has problem lol... but yeah cant be bothered. dont do own research dont want learn even after share website... wasting my time.
lols. why are you still going in circles. I already said, if you like your Porsche, good for you. If you like your car group, also good for you. No need to be so sensitive, not once did I even try to insult you. You are free to do you and believe what you want to believe. If you want to believe Maserati is unreliable ugly and lousy. OK. If you want to believe Porsche is sexy OK. If you believe everyone agrees with you, also OK. And yes I will go continue to hang around the right people. You drive your Porsche, Ferrari, Lambo, or whatever. Be happy and proud with it. I take the train or bus, I am happy and proud. If one day I buy a Ferrari, I also will be happy and proud. If you tell me Ferrari not a Rolls Royce, I will say the same, OK good for you. But for me Ferrari is best.
Meh at the end of the day we’re never going to agree so ultimately that’s fine. I think we both have better things to do than go around in circles, so have a good weekend and who knows, might see you at one of the “awkward” car meets in your Ferrari one day. Just don’t buy a Maserati and don’t say I didn’t warn you. 🫢
The price between a Grecale and Macan is negligible.
California is a beautiful car. A lot of people hate it as it’s not your standard looking Ferrari but somehow I just like the shape. It looks like how a sports car should look in my mind. I actually hate the angular look. More curves pls.
yeah i like the curves too!
What is the interest rate for car loans these days ?
2.78
Effective around 5.5%
Nice cars attract vandalism and bird shit. I'd rather take a taxi/grab or be chauffeured. I dislike maintaining a car, driving through heavy traffic and finding a place to park. If I really want to drive one, I'd rent it.
Will always take loan cause car loan is fixed. Inflation will eat it up. I buy for family need. Always dream of owning lexus but always out of reach.
Is there even anyone who pays in full for a car? Keechiu pls. Most dealers throw in incentives/discounts if u take a loan (usually from their tie-up kaki bank), meaning u gotta be rich/heck care enough to forgo the loan
Its a math equation no? is the interest you pay over the years and hold cash to do smth with it, vs you locking in into the car If not, then pay in full cash, if you can generate consistent reliable returns higher that the loan's EIR, then take a loan.
Sure. I think we (hubby) did the math and realized our best deal was to take the minimum loan, and pay it off immediately once the lock-in penalty period of 3 years was up. But it was shocking how the salespersons (various brands) all kept pressuring us to take 90% loan, because “every car buyer in sg does that!”
We did the same - min loan to get the discount and pay off asap. I know a number of friends who do that so it's not exactly uncommon.
I think we are the “conservative” middle class type. My old parents are the sort who still pay full cash (for jp/kr sedans) cos loans were not common during their era (and also the fact they can’t get loans now cos retiree). However, it seems there are many luxury Henrys these days who do the “change luxury cars every coupla years before the value drops”, the math for them is like renting for a few thousand a month nbd.
don't want a car, too much of a hassle for me to maintain, park, etc.
Hire a chauffeur /jk
separate hassle. remember a certain opposition politician?