My family is strongly against it, they think 3k sgd is an ordinary salary and does not grant me the right to own that car

but i did the calculation and find it quite feasible, SGD is supposed to grant us higher purchasing power

Salary-CarAffordability calculation is different for SGD earners?

3k SGD is very ordinary given the inflation and uncertainty of late. Best to save up IMO.

I'm curious, what car affordability calculation are you using there?
I've never heard of the 1/3rd rule for that

Loan approval is very different from affordability (in the financial planning sense)

I heard 1/3rd rule can be used to predict loan approval

Affordability is a little more complicated so i ask questions

Okay, in my opinion and most financially literate people you ask, the answer is most likely no
You definitely can survive with that loan, but it will not be a wise decision

This year is my 4th year for my PR but I consider relocate back to Malaysia. Possible to renew re entry permit when I living in Malaysia?

Relocate means what. Employment also move back to Malaysia or just residence?

Payroll and residence in Malaysia.

Then no more reason why they will renew your REP.

Buy it, only if you stay in JB and work in SG. Stay inside, not worth buying any car. I used to have a superbike when i stay inside. In the end, its just collecting dust at my parents house. My dad and my bro afraid to ride it, even sometimes forgot to start it on weekly basis. Sell it off after that...

Bear in mind that SGD earner (without SPR) are considered as high risk person in the eyes of the bank. Because Work Pass Holders (WP, SP, EP) are replaceable by Singapore based company. They can terminate or won't renew your contract as they like.

And the banks calculate your income based on x2.6 only. They didn't convert it based on current exchange rate. Meaning if SGD3k, they will calculate your income is RM7800. This is what my banker told me when i wanted to purchase my house back then.

If The Gov detect u

1. Have not entered SG once for more than 6 monts

2. Didn't have any CPF contribution for 12 months or more.

Most likely they will renew only 1 year first, to see if you still want to commit. If still nothing, they will consider you are not interested and will no longer renew your REP.

Things liddis happens because last time got some type of people loves to collect PR and then move away from SG. The Gov detects it and patch the loophole...

Hi guys, may i know what items is not allow to bring into Singapore? As i gotten an job offer and 1st time move into Singapore. Items like small wood racks, cloth hanger, some used electronic devices, water bucket, supplement, shampoo, wax and etc. Planning to hired a private car and enter SG with these items. Thanks in advance 😄

Cigarette

The congestion was abnormally severe since around cny until the last few weeks for unknown reasons, i moved in around that time, the congestion seems to have returned to the normal state, i might move back after my lease ends

why would banks see it that way, the same law governs when firing anyone including work pass, the compensation etc, new law states that they have to inform mom before firing anyone including workpass holders.

personally i contemplate this purchase because i worry about struggling at work at any point of my career, i might quit/lose my job and not able to find one, i job-hop a lot, mostly due to various struggles, i take this risk very seriously

https://ctoscredit.com.my/car-loan-eligibility/
According to this, one is likely eligible for a 300k loan with a 8000 salary

since you said buy it i think i am going to take that risk, need to salvage any joy when young, i have 2 years left before turning 30, hopefully it boosts my chance of finding high quality partner

Its up to you lor. I only have a B segment car and a PR1MA Apartment after years working in SG.

Better save something before things get worst. Have learnt the hard way during the covid days...

How much money do you make ?

Before covid is somewhere 50k/year. All my saving lost after having a 6 month No Pay Leave due to covid. Basically selling everything necessary to live that time.

Life was hard need to recover back all loans and build back savings. But can't save much la.

Now, 75k/year. My life is recovering, manage to get lots of offers. Thank god.

Starting May, its a 6 figure per year. Still, i don't think about adding new commitments, bcoz i had experience worst last time. Gonna keep it low, save as much as possible and retire by the age of 50 to 55...

Working in IT Sector


p/s: Its from the internet, it might be true.

This post has been edited by ghodul: Apr 3 2023, 12:59 PM

How much you expect to pay per month and how much savings you have right now? I think this 2 will decide whether you're comfortable at buying it. Let's say if you lose job, do you give up your room in SG? If you were to continue paying rent in SG while looking for a job and at the same time having to pay for the car. How long can your savings last?

If you're from JB, it may still make sense. I worked in SG for 8+ years but I'm from East Malaysia. Never even thought about buying a car knowing that I won't be touching it even once a month.

Other than that, I don't have so much desire for cars and other things. Prefer to keep cash haha.

I expect to pay Rm 1500 and 3000sgd leaves me 5000myr every month. I didn’t manage to save much all these years until recently, now only 20k myr

Make no sense to keep my room when I lose my job, speaking of losing job I’m getting scapegoated, that criminal deliberate pass a bad job to me and wash his hands clean, make me send out all the work and people thought I’m responsible for that plate of faeces and he’s a good guy covering for me, make me look bad and can’t defend myself, very despicable, this is why I worry, always kena sabo, I downgrade my position after many years of job hopping but still kena sabo no matter how low my position is, as long as the job is white collar sure got sabo one, i think I only feel safe when I get pr so I can deliver food in sg, sure no sabo

My family still think I’m crazy for considering this purchase, I have quite made up my mind to take this risk, I mean some people working as property agents bought Mercedes, more risky than me in my opinion

Its seems that you aleady made up your mind. Then, just go buy lor.

I am thinking bout changing car a year after getting the new pay. Maybe cash out current car and then create a new debt. Still under consideration...

Why manayzer title use a B Segment sedan right? Hehehe...