Tipskey
Cars Are Uneconomical
car not worth it
Let us say we need to commute about 20 km daily to-and-fro for 10 years.

By taxi
Taxi fare ($20 daily) = 10 years x 365 days x $20 = $73,000

By car
Car price (1300 cc) = $40,000
Petrol (10 km and $2 per liter) = 2 liters x $2 x 10 years x 365 days = $14,600
Toll ($3 daily) = $3 x 10 years x 365 days = $10,950
Minor maintenance ($300 for oil change etc annually) = $300 x 10 years = $3,000
Major maintenance and repair (battery, tyres etc lump sum) = $5,000
Car wash ($20 monthly) = $20 x 10 years x 12 months = $2,400
Parking fee ($2 daily) = $2 x 10 years x 365 days = $7,300
Insurance and road tax ($1,500 annually) = 10 years x $1,500 = $15,000
Car loan interest (lump sum) = $15,000
Others (fire extinguisher, dash cam etc) = $750
Total = $114,000

Although it is rough estimation, it is clear that it is not worth it to buy a car. Plenty of time is also used in driving, traffic jam and maintaining the car. The disadvantage outweighs the advantage. Other alternatives are to get a bicycle or a motorcycle, or even to just rent a house nearby the workplace. It is much cheaper to pay transport company if we just want to transport something occasionally.

Cars are luxury that should only be owned if rich. It must not be purchased on loan. We are influenced by materialism into buying cars. Most of us are ignorant of the cost of owning a car. One household should have the most one car. Many households own more than one car but there is not enough space so cars are parked indiscriminately on the road.

Posted: 2016-09-26; updated: 2017-02-02 by Ong Seng Aun.
Home       About       Privacy       XHTML 1.0 Strict