If you’re planning, or at least hoping, to change to another car, what are the things you need to consider?
The most obvious factor, of course, is your budget for your next car. Will it be it new or used; your first set of wheels or a replacement for an existing/COE-end- ing ride; is this for your own use or a shared vehicle?
can boost your car's performance.
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For the average car buyer, the down- payment — currently, it’s 30 per cent of the purchase price if the car’s Open Market Value (OMV) is $20,000 or less or 40 per cent if the car’s OMV is above $20,000 — would cost an arm and a leg — albeit, it’s just an arm if the buyer in question has a car he can trade in or sell.
Thereafter, the monthly repayments (84 in total for the maximum seven-year tenure allowed) would cost a hand and a foot — is less painful than the down- payment, but still a drag on a motorist’s finances.
That aside, don’t forget about the other recurring costs — car insurance, road tax, refuelling, repair/mainte- nance, parking and the Electronic Road Pricing. These expenses do add up in the long run.
SET YOUR PRIORITIES
No matter how you massage your motoring budget or stretch the prover- bial shoestring, buying/using
a car will definitely cost much more than relying on some combination of private-hire car, taxi,
train and bus.
So, to make the most of your big-tick- et item, you probably need to prioritise when getting it.
For example, if interior space and day-to-day practicality are important to you, a multi-purpose vehicle (MPV), sports utility vehicle (SUV) or station wagon should be parked higher on your shopping list than their equivalent saloons or hatchbacks.
MPVs, SUVs and wagons are designed to be roomier and more versatile, while remaining easy to drive, park and manoeuvre.
These days, all but the most basic mass-market cars are well-equipped with the essentials and then some. The trick is to differentiate between needs, wants and frills.
For instance, do you really need cruise control if your commute is short and mainly on minor roads? And do you really require a machine with more horsepower than usual if you never hurry to anywhere or seldom carry more than one passenger? Plus how much more informative/entertaining can a fancy infotainment system be if you’re already distracted by gadgets and you only listen to the radio?
Even the simple stuff should be thought through more carefully. For example, having an electrically adjusted driver’s seat is pointless if it doesn’t come with memory settings. And paddle-shifters are only fun for a while before they’re left untouched most of the time. What about those upsized wheels thrown in by the dealer? They look great, but they affect the ride’s comfort, and need larger and costlier tyres in due course.
And different driving modes become pretty useless when the default driving mode for the vast majority of motorists in Singapore is “indifference”.
For the minority who care about the environment — kudos to you — you could consider eco-friendly cars such as petrol-electric hybrids and opt for fuel-saving features such as auto stop/start. Engines tend to be more efficient when they have turbocharging, a capacity of under 1,600cc and numerous gears in their gearbox (seven, eight or even nine).
Happy shopping for your next car.