Not owning a car is better quality living

One of the measures introduced in the 2013 Budget that will come down hard on the people is the control of car ownership. It hits the people in two ways, higher ARF, lower loan allowed and lesser time to repay. On face value many Sinkies aspiring to own a car as a convenient mode of transport will have red faces and veins protruding from their necks. Those that really need a car for business, for ferrying little ones or ancient ones, or physically difficult ones, will be less forgiving. I am expecting a public outcry on this alone.

But putting the anger and disappointment aside, not buying a car is really a good thing. Really, trust me. Look, this is a depreciating asset that will run out of value in 10 years. It runs out faster than the 99 year HDB flats. Why pay so much for it? Further, public transportation is so cheap, convenient and efficient. There is no need for a private car.

And with the prices of cars getting only more expensive, taxi fares, even if they go up, will still be so much cheaper. There are plenty of rooms to raise taxi fares as there is a big gap between the fares here and the big cities. So enjoy the cheap taxi fares when you can before someone claims so hard to get a cab.

Actually the Govt is doing the people a big favour by discouraging those that cannot afford to buy cars not to buy one. Too expensive lah. But if you can afford it, can pay for higher ARF and put up bigger cash payments, ok lah, go for it.

Many people will be saving a lot of money for not buying cars. It is like people saving money by not going to eat in restaurant. It would be different if people don’t eat or can’t afford to eat in order to save some money. Eat they must, just like some people cannot move without cars. For such desperate cases, just too bad. Sure the Govt will empathise with them, hand over heart. No, cannot say if cannot afford cars take public transport lah. This is a cruel thing to say. Politically incorrect. By the way, with another 1.6m talented foreigners coming in, they too will need cars. Let them pay the COEs and ARF and the Govt can redistribute to the needy citizens. Good huh.

The quality of life sure will not be affected, just like living in smaller flats will not affect the quality of life as well. Think quality of life will be better as promise in the White Paper.


oldhorse42 said...

Since all the future car owners will be either rich Sinkie or FTs, I will not be a car owner. Cannot even afford the cheapest Suzuki which is above $100,000. Wonder how I would I get to Bukit Indas to golf at Horizon Hills? Perhaps, it is time to sell my HDB and quit to Johore.

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Anonymous said...

I'm tired of the PAP govt. telling me what is good for me.
Hey PAP Millionaire Minister.
Fuck you Sir!

Voting Opposition is good for the PAP.

Just like GST is to help the poor.

Anonymous said...

Taxis are so much easier to get and the fares are much cheaper in Hong Kong. There is something wrong with our taxi system in Singapore. They are all owned by big corporations that charges the taxi drivers approx $4,000 per month (that is $48,000 annually) for doing pathetic chores.

It is actually more practical for these corporation to be service providers for taxi bookings, etc and the taxi to be owned directly by the taxi drivers. This will drive down the cost for a taxi driver by at least 40% and then taxi fares can come down making taking taxi a better alternative to owning a car.

Chua Chin Leng aka redbean said...

The pain of not being able to own a car has not sank in yet. But it will. I think one vocation is going to scale down drastically other than car salesmen, the driving instructors.

Anonymous said...

Isn't Singapore supposed to have a very efficient public transport system such that owning a car is not even necessary? Hmmm... or is that just a figment of someone's imagination?

Anonymous said...

hihi, i read your article frm Facebook. to be honest, after so many years, finally PAP roll out a very good Budget.
S'poreans are too pampered in a way. i grew up taking public transport with my family. If more childcare facilities are built nearby to our homes, we do not need to fetch the little ones (unless for outing?) that frequently right? no car then spent more time at home (e.g homecooked meals, some activities to nearby playground) since going out is not convenient?
Other than property/insurance agents who need to move ard alot, only fetching the elderly ones ard seems to be the one valid point...

Anonymous said...

If medical facilities are provided like childcare centres at the void decks, the oldies will not need much transportion too.
Why built mega hospitals? Shud build more medical centres at as many estates as possible.Less travel and shorter queue.
Can it be suggested that there be public clinic at every community centre(club) and area office.

virgo49 said...

Spend 150k for a set of wheels!!!

Goodness, many Singaporeans reached 55 do not even have enough in their CPF's minimum sum with less than 2 figure amount in other account.

Chua Chin Leng aka redbean said...

The first batch of people to be hit by the new regulations will be those with expiring COEs. How many can cough out 50K or 60k to pay for a car and follow up by another loan?

This is not going to be joking business. The anger will spread as it hits those that matter most.

theonion said...


If this brings down the COE level to S$30K to $40K, and the overall cost of a car down, what is the beef than other than forking out more cash immediately.

Chua Chin Leng aka redbean said...

I can say fat hope.

Joseph Tan said...

This sentence I not agree,

"Let them pay the COEs and ARF and the Govt can redistribute to the needy citizens."

I am afraid Govt will keep most and give peanuts.

Chua Chin Leng aka redbean said...

Thanks for your comments Joseph. I said that with my tongue in cheek. You are right that the money will not be filtered down, or at most peanuts.

Anonymous said...

The COE has turned into a cash cow for the government and they will not let go. Many things have been done with presumably good intentions but as soon as they find it profitable for them to use them they will pursue them relentlessly. The COE system was supposed to control the growth of cars and all they needed to do was to issue the certificates and ballot them to serve that purpose. As always, if you can make money out of the system why not? Should we continue to moan and do nothing to help ourselves? There were several periods when the cost of a COE for a motor cycle was $1/- because no one bid more.So theoretically if everyone bid $1/- then the COE will be that sum. But of course you need everyone to co-operate. If an organisation like the AA can organise (making themselves to be the stakeholders and bidders on behalf of intending buyers) it might work.

Anonymous said...

"Govt can redistribute to the needy citizens" - most like the monies will be gambled away just like the reserves.

Then the president and pm and mp can take mrt to work, why need all those MB to ferry them around? Taking away car ownership is making us serfs. It also prevents people from emigrating as driving is a daily task. People who do not drive cannot lead.

Anonymous said...

My best memories of my childhood in sin were those family outings with the family cars. My worst memories in sin were those spending time in mrt and buses for schools or work. I never regret going overseas. At least my kids can own a car or house without losing an arm or a leg.

Anonymous said...

For better quality living ... just vote Opposition lah!

Do you think things can get worse than it is now?

Anonymous said...

Defend your right to own a car.
Vote Opposition in GE 2016.

Anonymous said...

This govt seem totally lost of foresight.

Its policies will indirectly putting high living cost across the board.

Govt also forgot that the world is undergoing a decline demand due to ever increasing debt and ageing, how can many things be implemented?

Chua Chin Leng aka redbean said...

For this article I got whacked left and right by the readers in TRE. They took every word they read literally, without thinking, without reading the hints and innuendoes.

Ouch : )

Anonymous said...

Hi! I'm a Pro Alien Traitor.
Your feedback is duly noted.
Like I care!

Our policies cater to the rich.
If the rest of you benefit.
It's purely by accident.

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