eknsoel

Hi All Singapore 8s,

Let me give a brief intro : I'm EK and I fell in LOVE with the rx8 since 2004. Back then I was a poor student with no $$$ and cannot afford the car (not that today can afford...)

After working for almost 3 yrs, I am thinking of pampering myself with a rx8. But I am very concerned about the car FC, maintenance etc. Still I am very willing to try and at least have the car for at least 2-3 years and not regret 50 yrs down the road and thinking back that I should have bought my dream car before I die.... Plus i want to use the car as my wedding car at the end of the year.

Anyway, I'll like to know:

1. How much per month do you have to spend on the car (installment, insurance, road tax, FC, maintenance etc)? I drive from AMK to Jurong to work everyday, so I would imagine the fuel costs to be pretty high each month with mileage of ~7 km/l.

2. I never owe a car, so I think my insurance will be ex. I'm 30 by the way and I estimate insurance to be around 4k (asked a PI yesterday...heart dropped when I hear this). My dad is ~55 and has a perfect driving record. What's the difference in insurance if I get my dad to buy the car under his name?

Basically me not rich at all (miserable engineer). So I really want to do a financial check before I commit.

Thanks all for replies!!!

Roulette

Ah... a new 8 caretaker to be...

i was in the same picture as you, bought the car cos i wanted to drive my 'dream' car before i' old. cost me a bomb, but i don't regret it.

so let's get down to your answers:

1) I spend 2.3k per month, mostly cos of my $1.3k per month installment, of the $1k misc expenses, 500 for fuel, 165 insurance, road tax + parking = 110 and the rest on servicing. mine was secondhand, so i expect to lose 9k per year over the 3 years i expect to hold.

2) If you get ur dad to insure your car, i expect ushould pay just over 1k per year. NTUC is the choice agent, to save another 5%, go to them direct and not thru your agent, as agents make a commission. Even then, as you are already 30, it shouldn't be too ex for you. (same for the loan)


Personally, even as today's low COE rates, i only buy secondhand. cos you WILL lose more money on a new car if you are only going to keep it for 2-3 years. Depreciation is a factor of the car's original price and age - Period. it loses most of its value in the first 2 years. but then again, thats just my view.

but contrary to that, this car does have its 'problems', which seem to onset from the 2.5 year mark, and can cost abt $3.5k to fix (that's the damage to me anyway)

Overall - no doubt a bit ex, it's worth it!

SushiFan

I think owning the RX as ur first car is going to hurt because you dont have any NCD. Even if you use your Dad's, the second driver excess is still going to be high, in the 4k region. I just PM you, let me know if you received it.

Briefly, Your monthly installment is a function of how heavy your loan going to be, which is a function of which model (manual vs auto) which is a function of getting from MM or PI.

You must also be aware of the OMV to PARF conversion which is 82.5% for the first 5 years. i.e. expect to lose 15-20k the moment you open the door of your new car. Which in turns will decide how long you want to keep this car? Roulette has made a good point that such performance cars tends to have problems so down the road maintenance you must have $$ and be mentally prepared. e.g. steering rack = $2k.

For the fact that you going to get married, its sure going to suck out the cash component of your savings, dont quite believe you are poor engineer in this case ha ha ha....=p..just a joke.

Stephy88

1. How much per month do you have to spend on the car (installment, insurance, road tax, FC, maintenance etc)? I drive from AMK to Jurong to work everyday, so I would imagine the fuel costs to be pretty high each month with mileage of ~7 km/l.

-> instalment really depends on your loan amount/no.of yrs.
-> insurance is reasonable
-> Rd Tax is cheap... abt $725 P.A
-> FC depends on your right foot and the trip distance (highway or urban driving)
-> maintenance wise... every 5000K, reasonable

2. I never owe a car, so I think my insurance will be ex. I'm 30 by the way and I estimate insurance to be around 4k (asked a PI yesterday...heart dropped when I hear this). My dad is ~55 and has a perfect driving record. What's the difference in insurance if I get my dad to buy the car under his name?

-> insurance again - 4K? who quote this price? i am younger than you... i pay only 2K+ without NCD.
-> if he do not have any No Claim Discount (NCD) or existing policy, i suggest you get your own insurance, U need to kick start sooner or later... No start, how the insurance company give you discount later. (IMHO)

Basically me not rich at all (miserable engineer). So I really want to do a financial check before I commit.

-> U need not be rich. U need deep thinking and also far planning.
-> Lastly, hope you dun miss the thing - your dream.

-> you say you are EK. Wat is EK?

eknsoel

Thanks guys for all your reply. Me taking time to soak in what was replied. Really thankful for all comments.

EK is my name by the way... EK n SOEL. SOEL is my wife's name.

eknsoel

Roulette, SushiFan and Stephy88,

Looks like one needs to be prepared to part with over 2k a month for having the rx8... maybe more expensive than keeping a second wife (hahaha... hope my wife don't see this...)

Sigh...

Sounds like all your guys have pretty fat wallets!!

CoupeM

No, we dun have fat wallets since we started owning the 8. We everyday look for fields to eat grass.

SushiFan

neither do I have fat wallet...but buying an RX8 needs a lot of calculations because you dont want the pain in your wallet to affect your satisfaction in owning the car down the road. I'll probably get mine towards the later part of the year when the COE fluctuations have stablised from the post CNY rush. Still can't decide which PI to go for though, ideal deal not there yet. But if MM bring in 6AT I'll sure go for it man :D!

INXS

Just buy la.. worry later.

Stephy88

CoupeM eat paddi, i eat wheat... keke..
INXS sometimes buy us bamboo shoots....

eknsoel

SushiFan,

Makes sense to buy towards end of the year. Me thinking of doing the same too! Maybe if you dont mind, can I follow u around when u go looking for PIs.

Stephy88

OIC... Name EK, Wifey SOEL, unique.

EK, anything let us know... we give you some direction if we can.
Wallet fat or thin... no worry... some of us dun even have wallet.
but we always eat grass together, like CoupeM said.

SushiFan

Eh you think PI will do buy 2 get discount ah? ha ha.. nice try... i dont think they do that... or do they? I've already been in contact with a couple of PIs. Some I write email, some I talk over phone. Will take my time from now till July to sound them out while the rest of the people have run rushing for COE and fear of GST (which BTW only affects the PARF i think). I'll correspond with you via email once you send me yours. thanx!

eknsoel

Maybe not discount, but i think the PI can include accessories or leather seat upgrade or something like that???

Have dropped you a note.

Stephy88

most impt - the after-sale service... imho

INXS

Why wait if u can afford it.

I got mine within a week, cause i like it, i want it, I must have it .. not so much on the car alone... more female passengers..kekeke

COE prices will most likely bounce northwards.. eventually.. so, hop on the car buying spree bandwagon asap else....

Hope u have contacted Svper(Ben), he can definitely get a good deal for u .. 94881698


PS: Please dont ask him to sing.. he sux. Tried, tested, tested again. Proven.

SushiFan

If I didnt get the 8 last week, its a bit too late to get it now because I roughly know the COE prices that are being bidded (have cousin who is a dealer but in Komoco). Next few months will be high to clear the post CNY rush and besides I still need time to confirm that I will NOT be posted overseas else LOSE big big when I get my 8. (ha ha I know what you are thinking... sell to EK?) Who's Syper(Ben)? Is he/she a PI?

eknsoel

Ya!!! How you know I was thinking of getting you to send to me??? If you really buy and got posted, can I have the honour to have first option for your 8????

My dad just got a PI to bring in the Toyoto Axio. He expects the COE to be ~10k. So you are right to wait.

SushiFan

Totally Agree with you!!!! does anyone know if MBM wheel power is good at servicing the RX? 2 of the PIs I'm eyeing has the same servicing company.......

Stephy88

i upload his photo for your reference...
think you guys can recognise him

INXS

Wahahahahahhah!!!!!!!!!!!!!!!!!!!!!!!!!!!!

CoupeM

BTW his name is Su Yong Kang, Ben. Hahahahaha

eknsoel

He looks very familiar.... you sure he sells cars only???

Roulette

actually, why not consider it secondhand? i think there are quite a few advantages eh

1) Bulk of depreciation is 'suffered'
2) Most 8 owners dont trash their cars(much), compared to other rex's/evo's (i think)
3) Stuff like bodykit/rims/soundsystem/ air intake/ exhaust etc etc etc may be included
4) use 2 years, at approx 9k per year compared to first 2 years at 15-20k per year.
5) Cheaper price means less interest too.
6) use until 5th year then scrap (maximise parf , solid!)

downside:
1) maintenance lah, expect to fork out $3.5k, depending on ur luck.

for your consideration.... that was mine before, don't regret it.

CoupeM

Yes..since his breakup..he has been selling cars.