If you happen to walk around Singapore and you find someone who keeps on insisting that the idea of owning a car is not essential as it is a luxury then you will know that that person does not have any children. The daily difficulties that many people face in Singapore can make them rush out so that they can quickly buy a car.
Just think of situations where you depend on buses that move like snails and tend to break down from time to time so that you can take your child from the childcare center immediately after work. Again using these means of transport to rush to your home, you may find that you arrive late at night. You will be forced to prepare a meal for your children spend some time with them before you sleep. Can you imagine if you will manage to do these activities daily in the morning and the evening?
This is the reason why so many residents in Singapore feel that when they have children, they have to get deep into their pockets to get the COE money and buy a car. Some even go ahead in looking for Bizlink Rent-A-Car Pte Ltd that can offer cheap car rental services, so that they can get a car that will make it easy for them to travel. Below are some of the consideration in buying a car when you have a kid.
The period that you need to drive the car
The cars offer by the COE system have a short lifespan, when the COE is about to expire the car becomes cheaper. You will, therefore, be required to calculate the amount of core that you will need. For instance, if you require using the car until when your child does not need to ferry from the child care, and he/she can go to school using a school you will have to hire a car for some period. For instance, you car hire a car from a car rental company for around seven-year, whereby in this case you will not need to buy a brand new car. It is good that you get car rental services from a company that you and is very cheap.
The model of the car your car buy
When you want to buy a car, you will not have to buy a luxurious car so that you can show off to your neighbors and friends, later on, you suffer a financial crisis. At this point what you will consider is the car that can function well and able to satisfy your family needs.
It is obvious that the car that you will require has to have enough space to be able to accommodate the whole family, so you will not buy a two-seater car. The car has to have enough space in the boot where the child seats, prams and strollers can fit in.The car should not be so large such that it makes you difficult to park it in a car park.
COE or PARF car
When you buy a car, you will have to decide between the COE and PARF cars. With a COE car, you will have to renew its COE at least once within the agreed period; you will that it is cheaper to get this car. The only disadvantage is when you deregister the car will you not be able to get the PARF rebate. The PARF car usually costs more than the COE car, and when you deregister it, you will be able to get a PARF rebate.
Many families in Singapore to look at the cost when they are choosing between COE and PARF cars. What you will find is the PARF cars require higher down payments, and they are expensive.
Financing the car
It is good if you are willing and able to finance your car in cash. For many people in Singapore, the only way they car own a car is by borrowing a loan from a bank or getting from licensed money lender. Many banks do allow one to borrow between 60 up to 70 % of the selling price of the car.
It is good that you do not take the first loan your dealer suggests. Instead, you can ask them if you can get a discount by borrowing from the banks that they partner with. After that, you can do your research in the various banks to be able to determine the interest rates that they charge to the car loans that they issue to their customers.
Even if right now you can qualify for getting the car loan, it is better to be cautious as it can limit your ability to getting a home loan in future. It is good that if you have not bought your first home and you are planning to upgrade it shortly, you be cautious on how to take your car loans. This is because the rules that are set by the TDSR can hinder the bank from lending you a loan that can make the total loan to be more than 60 % of your income. If you borrow more money so that you can buy a car the less money, you will have to borrow if you want to buy a house.
The Singapore authority has rules that hinder individuals who do not have car insurance from driving. Even if you would be allowed to drive you will not want to drive considering the amount of amount that your car pay for the medical expenses if you get an accident. Paying for car insurance can cost you a lot of money. It is good that you do not rush in buying car insurance from the first company that you dealer suggests, you have to compare the car insurance that is offered by the various companies before you make a decision. It is good that you don’t waste money as you can get cheap car insurance from http://carinsuranceshopper.com/
You will not have to put the child next to you and drive into the sunset. You will have to wait until your child is 1.35 meters so she/he can be able to use a booster seat or child seat. You can be fined by the local authorities if you do not obey this rule.
Another thing that you will consider is the travel tray to prevent your child from dropping the toys on the floor, and a baby mirror to assist you in seeing what you kids are doing at the back seats. You can search online for these products so that you can get the best car that is baby friendly. You can even ask for your friends to direct you the company that can you the best car rental services.