Plain Train & Automobile

From a snap poll from STI, 93% of people said they would not switch to a car even if they can afford it. 89% said their preferred mode of transport was the Taxi.

So I guess only 4% (93 - 89) actually will take mass transport (Bus or MRT).

Probably good news for cabbies.

Should you get a car?

First determine how much time you would save by having a car.
So if your daily bus/MRT ride to work takes 60mins, but the car just takes 30 minutes, you save 30mins per trip. Add the evening trip if the travel time is different because of differing traffic conditions. (In this case, we'll assume it's the same.)

So you save 1 hr a day.

Now estimate how much it costs you to save 1 hr a day.
Take the cost of a car as $50,000 (including COE). Assume a lifespan of 10 years, that's $5,000 per year.
Annual maintenance, fuel, insurance, parking, etc - $8,000. (no fines, damages, accidents, etc)
Total annual cost: $13,000
Monthly costs: call it $1,000.
Daily cost: $33 (30 days)

So to save 1 hour a day, it would cost you $33.

Next determine how much is your per hour rate. If you earn $2000 a month, working 40 hrs a week in an office (or 8hrs a day for 5 days), your hourly rate is about $11

So in order to save 1 hour a day, you need to work 3 hours.

Worth buying the car yet?