I’ve been looking at numbers on getting a car......

However, with the way interest rates, maintenance inflation, and second-hand depreciation have shifted over the years, the maths on the 'traditional ownership' doesn't really add up to me these days. By the time most people are halfway through their loan(say 9 years, the combination of servicing costs, insurance premiums, and the rapid depreciation of the asset (relative to the interest paid) seems to make the 'asset' a massive liability.

I’m curious to hear from those who look at the numbers closely:

At what point does the 'hidden cost' of owning (servicing/tax/insurance/wear & tear) outweigh the convenience of using Grab or car subscription?

Has anyone here actually ditched the loan trap and try either Grab or Car Subscription? Does it actually save capital long-term, or is it just a 'convenience' premium?

Just looking to compare notes on the actual ROI of owning a car in the current market.

Im interested to know this too.

I already have cars that are already paid off but as my family grew I'm currently in need of a bigger car MPV as my wife has been bugging me on this.

Thing is we would only use the car mainly for holidays, or maybe when my inlaws come. and this at most will be like 3-5 times a year thing.

the questions is now should I buy an MPV where roughly calculated I would spend atleast 15k annualy on installment and insurance and roadtax. Maintainance fees excluded.

For this year the 2 times I went for holidays I rented a car instead which cost me 2.2k total.

I even thought if I do buy an MPV maybe I could rent it out to recoup some cost when im not using but the risk of giving strangers my cars is something I couldnt deal with.

What drives Singaporeans' car-owning dreams amid soaring COE prices?
https://www.channelnewsasia.com/today/big-r...-prices-5883461


Young Singaporeans Still Want to Own Cars Despite the “Car-Free” Initiative – Here’s Why
https://sg.finance.yahoo.com/news/young-sin...-160000929.html

5 valid reasons to buy a car in Singapore despite the insane prices
https://www.sgcarmart.com/articles/advice/5...ne-prices-30831


This post has been edited by MUM: Jul 1 2026, 05:36 PM

That is a very common issue I heard, people often overlook that the cost of a rarely used car is actually massive when you account for depreciation and the fact that the asset is just sitting there.

To be completely honest, I work in the mobility subscription space. This is the kind of situation subscriptions are designed to solve, my service currently only operates in the Klang Valley,Johor Bahru and Penang. Since you're based in BKI, I definitely wouldn't want to promote you something that isn't practical for you....

However, since you've already done the math (15k/year vs. 2.2k/year), your gut feeling is right. Buying an MPV for 3–5 trips a year is financially hard to justify.

If you are looking for an alternative to buying, I’d suggest sticking to high-quality rentals for those specific trips. The convenience premium of owning that MPV fulltime would likely cost you an extra 10k+ a year in depreciation and insurance for very little actual usage.

Actually, you can also look into hosting. There's a strict rule on how subscribers and renters should maintain the car. Let me know if you want to know more.

You might want to narrow down the topic a little: rather than car in general, sounds like your point of contention lies more on luxury line/"big" cars specifically.

I was going to say... I think we can all agree that a typical <RM60k car (new, local, 5 seater) is reasonable,...

...but then again, maybe there's a threshold/ tipping point rather than a blanket statement as above. It always depends on how often you use it (mileage), the price of convenience and so on.

Some families have more than 5 and go out daily.
Some households have 3 working adults all going to different places.
It's an interesting case to study, but I'd like to see some configurable parameters to see how various scenarios fare.

I don't have personal experience with car rentals, but my dad knew of someone who opt for fulltime rental instead of buying. Initially their company rented the car for them, but they continued the contract even after they had left, citing convenience as the main reason.

- rental company will settle maintenance/car issues
- can change car model after contract ends
- monthly fee just slightly higher than paying installment (I can't remember the actual number)

For someone who prefer no fuss car "ownership", it seems like a nice deal.