WHY WORKING ADULTS NO LONGER BUY CARS
Over the recent years, lesser and lesser working adults are putting “Buy my own car” on their priority list. For what reason and what can we do about it?
1. Rise of public transportation
The cost of living in Singapore has gone up. As a matter of fact, the country almost always appears at the top of the list when talking about it. This led Singapore residents to embrace a car-lite society. They have never been more open to utilising a public transportation to ensure that every penny doesn’t go unvalued.
2. Alternative ways to move around
Today’s technology has also opened up other ways for commuters to get around places. Recently, we saw the rise of ride-hailing apps such as Uber and Grab. Mobile applications like these allow users to book a private car that can drive them to their destination. Even riding with other passengers is possible and this further slices the cost.
Another alternative to driving a car is cycling. Singapore has a bike-friendly environment, where residents can ride safely. People see this as a good option for going to work as it also doubles as exercise.
3. Owning a car is expensive
The primary reason why fewer working adults seem to be interested in buying a car boils down to this one reason—they’re expensive. What makes up the whole cost of a car includes excise duty, additional registration fee (ARF), certificate of entitlement (COE), and dealer’s commission. So, if back then you can buy a car at $1,000, today, this amount can only get you so far. If you really want a car, the fastest way to get one is by getting a loan. However, this loan, over time, would eventually increase because of interest. Just another thing to ponder on.
4. What comes alongside buying a car is also expensive
For a car to run, it needs fuel. You wouldn’t be riding it 24/7, will you? At one point, you will have to park your car somewhere. And for it to run as smoothly for the next 10 years that you’re still paying for it’s loan, you also have to pay for the maintenance services. The expense of getting a car doesn’t stop at buying it.
We know it and we’ve seen the struggle ourselves, yet for us, having a car of your own is still a necessity as you grow older. No need to worry about being late because you have to wait for a cab, or the hassle of bringing loads of stuff from the office as your ride the train. Having your own car will literally get you to places with utmost comfort and convenience.
So what can you do?
The most practical way is to rent a car. Why? It’s basically just like owning a car, but without commitment! Isn’t that the best deal? Rent your dream car for as short as one day or as long as 1 year. It’s up to you.
And how does this become cheaper than buying your own? You won’t have to deal with additional charges, because it’s all on us—the excise duty, additional registration fee (ARF), and certificate of entitlement (COE). We will cover that. And to top it all off, the insurance and maintenance is fully taken care of. The only thing you have to worry about is fueling. That’s it and you can already have a car just like your own!
Work Work Cars is already on that. With a wide selection of brands and models to choose from, affordable prices, and the weight of handling maintenance and insurance being lifted off your shoulders — they all just sound too good to be true. But hey, it’s real and it’s here!
How about you, what’s your take on this? Do you agree on our insights above? Let us know by commenting down below. Also, don’t forget to follow us on our social media accounts to get first dibs on more posts like this!