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How getting his own ride gave him better work-life balance

The shorter travelling time gave him more flexibility, but he advises first-time buyers to understand the finances involved before committing

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Getting his own set of wheels gave Mr Gordon Yeo more time to spend with his family and friends. PHOTO: COURTESY OF GORDON YEO

Zann Kua

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For veterinarian Gordon Yeo, owning a car has given him more time to spend with his loved ones.
Long working hours are a common occurrence given the nature of his job, and the 28-year-old wanted to cut down on his travelling time. This was what led him to purchasing his first car – a Honda Fit – in June 2022.
One of the main reasons behind his selection was the size of the vehicle. “I did not drive much after I got my licence in 2014 and a smaller car would make it less stressful to manoeuvre,” says Mr Yeo, who now drives his parents and girlfriend around.
He opted to get a pre-owned car mainly due to the cost. On top of that, given his lack of experience, the thought of driving a brand new car around seemed intimidating at the start. In preparation for his new ride, surfing online car marketplaces became a daily ritual as he sourced for a car with an estimated budget in mind.
“Getting a car is a big commitment, so really understanding the money involved is very important. This extends beyond things like the monthly payments – other key expenditure may potentially overwhelm first-time buyers,” he says.
Since the purchase, the car has provided him greater flexibility and helped him to achieve a better work-life balance.
“By being able to spend more time with my loved ones, I feel that it has allowed me to improve my relationships with them, and that is something that I cannot put a price tag on,” says Mr Yeo.
Getting a pre-owned car is nonetheless a significant financial commitment, and first-time buyers should exercise some caution especially for those who are unfamiliar with evaluating a vehicle.
Going to a reputable dealership for a start helps. Established industry players include Cosmo Automobiles, S Wheels Auto, Car Choice Singapore, Supreme Cars and Motor-East, all of which will be showcasing at Cars@Expo 2023.
They typically send the pre-owned cars through their rigorous in-house assessment programme, so that customers can have peace of mind.
According to Mr Alan Ng, sales manager at Cosmo Automobiles, customers should check the ownership and service history, warranty coverage, mileage, and the trade-in car value.
Thorough examinations should be carried out, and this goes beyond the aesthetics – be sure to check every nook and cranny of the car prior to the purchase.
“It’s important to have its condition evaluated so as to be sure of any existing wear-and-tear. This is to prevent excessive maintenance costs especially after purchase,” says Mr Jonathan Koh, director of S Wheels.
Taking the car through a thorough test drive to get a feel of its handling and performance is important too.
Mr John Toh, sales manager at Motor-East, says: “The customer will always look at the car's overall condition, but subsequently, factors like the mileage and the number of owners should also be taken into consideration.”

Sum of all parts

Besides the price of the car, every driver needs to bear these costs in mind, too
Excise duty: A form of tax imposed on specific goods like cars and alcohol. This will be 20 per cent of the car’s open market value (OMV).
Goods and services tax (GST): An additional eight per cent GST will be charged on the sum of the car’s OMV and excise duty.
Insurance: In Singapore, it is mandatory for all vehicles to have motor insurance coverage before they can be used. The insurance premium is based on several factors, such as the car’s make and model, and is determined on a case-by-case basis. It is advisable to compare quotes from different insurers before selecting one.
Registration fees: A registration fee of $350 is levied upon registering a new car.
Road tax: Registered vehicles in Singapore must have valid road tax and it needs to be renewed every six months.
Maintenance: After purchasing your car, there are further costs for its upkeep. This will vary based on factors like your driving frequency and how well you maintain your car. New cars often come with free servicing over a certain timeframe or mileage.
 
Cars@Expo 2023 is held from April 15 to 16 at Singapore Expo Halls 3B and 4 from 10am to 8pm. Click here for the floorplan of the show. Read more about the latest cars and special deals at the show here
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