{"id":1628,"date":"2016-05-03T04:50:55","date_gmt":"2016-05-03T04:50:55","guid":{"rendered":"https:\/\/blog.carro.sg\/?p=1628"},"modified":"2025-11-18T17:19:40","modified_gmt":"2025-11-18T09:19:40","slug":"signs-new-car-not-suitable","status":"publish","type":"post","link":"https:\/\/carro.co\/sg\/blog\/signs-new-car-not-suitable\/","title":{"rendered":"8 signs that a brand new car is not for you"},"content":{"rendered":"We\u00a0have seen many people who regret buying new cars over the years.\u00a0These are the eight most common signs that buying a brand new car may not be suitable for you.\r\n

1) Struggling with 40-50% down payment on the new car<\/h1>\r\n\"\"\r\n\r\nAssuming that a car cost $100 000, a down payment of $50 000 is needed. That can buy you 45 years of chicken rice. Puts things into perspective, doesn't it? A good loan<\/a> needs to be financially make sense!\r\n

2) Warning alert if you are hitting the TDSR<\/a> limit soon?<\/h1>\r\n\"\"\r\nAdding all<\/i> your repayment obligations (housing loans, student loans, credit card debts, car loans, personal loans, etc.) cannot exceed 60% of your income if not, well, we don't want to know what happens to you.\r\n

3) If you are considering other forms of 'high loans'<\/a><\/h1>\r\n\"\"\r\n\r\nIf you are taking a big loan, there is a possibility that you have insufficient cash to eventually pay it off\r\n

4) Don't have emergency savings in your account<\/h1>\r\n\"\"\r\n\r\nIt is always wiser to have a safety net. Better safe than sorry.\r\n

5) How is your credit score?<\/h1>\r\n\"\"\r\n\r\nPaying your bills late and having too many cards is definitely not\u00a0a good sign\r\n

6) Just graduated?<\/h1>\r\n\"\"\r\n\r\nYou are just starting your journey in the working world. Settle down financially first before buying a brand new one. Maybe opting for a used car would be a better choice, since we cannot deny the importance of it.\r\n

7) You change cars like you change clothes<\/h1>\r\n\"\"\r\n\r\nA car is a huge investment and if you are going to change your preferences every once in the while, a used car probably your best option.\r\n

8) A car is just a ride to you, the functions provided doesn't really matter to you<\/h1>\r\n\"\"\r\n\r\nIf you're not too fussed about the specifications of the car, why spend the large premium buying a brand new car (and even paying for COE?!) when you can easily by a cheaper used alternative?\r\n\r\nDisclaimer: I'm not saying that you cannot have a car. I am just saying that buying a new car may not be a the best option\u00a0for you. There will always still be\u00a0a way for you to drive around without burning a hole in your wallet.\r\n

<\/h1>\r\n ","protected":false},"excerpt":{"rendered":"

We\u00a0have seen many people who regret buying new cars over the years.\u00a0These are the eight most common signs that buying a brand new car may not be suitable for you. 1) Struggling with 40-50% down payment on the new car Assuming that a car cost $100 000, a down payment of $50 000 is needed. …<\/p>\n","protected":false},"author":2,"featured_media":1823,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[725],"tags":[],"class_list":["post-1628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle-car-tips"],"_links":{"self":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/1628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/comments?post=1628"}],"version-history":[{"count":5,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/1628\/revisions"}],"predecessor-version":[{"id":16735,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/1628\/revisions\/16735"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/media\/1823"}],"wp:attachment":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/media?parent=1628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/categories?post=1628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/tags?post=1628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}