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Scrapping My Car…

Its been around 2 weeks since I scrapped my car !!!

My Car

My Car's backside

The above photos was taken when I just got ownership of it which is around end feb 2004. I bought it roughly 2 weeks after I got my driving licence (which is the 3rd attempt :L ). On that “fateful” sunny sunday, my dad brought me around to look at 2nd hand cars as the new ones are so so expensive. Actually I was thinking of getting a Lancer at that point of time but I was somehow attracted to this car when I saw it. Been my good “Wife” for the pass 3yrs 3months and never ever throw any surprises on me.

I was so close to getting a new car few months back when the COE is at the “lowest” point which is around S$5k. I was thinking of getting Vios but my dad talk me out of it as the downpayment is not a small amount. I am glad that I listened to my dad, haha. Having a car is of big big convenience but is also a big big mistake in financial sense. The thought of scrapping away my car came when I read Adam Khoo’s Secrets of Self-Made Millionaires. I can’t stand the fact that I could be spending millions on a huge piece of metal that only depreciate in values.

Tho I had the thinking in my mind, I was fighting inside myself for the right choice to make. In the end, I called my friend to help me do away with the car. I know that if it drags any longer, I might drop the idea !!!

Life without car is little bit more troublesome, got to trouble my friends to carpool to work. Gotta go to work earlier If I can’t find any :(

I just did a check on the public transport cost for work, amt is abt S$5 for round trip which is abt S$100 for 1 month. I got the values from: MRT http://smrt.com.sg/trains/trains_fare.asp and BUS https://www.transitlink.com.sg/ .. I guess the total monthly transport cost should not be more that S$150. Comparing to owning a car, which is ard S$1k per month.. man.. thats a big difference !!!

Car is

Asset: it helps you / your business to make money i.e. by meeting more clients and getting more deals

Liability: don’t help you earn money i.e. only as a form of transport by going to work and getting home

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