Tips on Buying and Financing a CAR (in Singapore)

[Porkbelly]

Being the world's most expensive place to own a car can mean 2 things:

1. Because it is the most expensive, having a car demnonstrates my ability to finance it

2. Because a car is highly visible, unlike the portfolio of value investors, it suggests that I am wealthy.( never mind if its a cherry, kia or proton)

The car is the most visible possession and provides independant movement. The perception of independence, freedom is very compelling, and people will justify to own one:

My family & I have quality time
My work place is far away
I can avoid the taxi surcharges
I can travel anytime I want

and from here on, it sounds more like a taxi driver...

I can ferry my parents around
I can fetch my kids to school
I can fetch my wife after work
I can go to places that has poor public transport
I can drive to Cameron Higlands

Even the Gov understands the psychology, that despite capping loan quantum, they allow the cost of the COE to be included.

I believe that if they separate the COE and the cost of the car from loans, i.e. no loans for COE, the prices will crumble.
But they will never do that... its an extremely easy revenue!