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Serious Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort!

JohnTan

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The crippling debt that came with buying his car made owning one an irony - he had a car but could not afford to drive it.

Adam (not his real name, as he spoke on condition of anonymity), maxed out at least 12 credit cards and six credit lines, chalking up about $50,000 in debt - just to pay for the loan instalments and other essentials required to maintain a car.

The 32-year-old civil servant said it was the worst mistake of his life.

He bought a new off-peak hatchback in 2007 for $60,000. At that time, he was earning $2,300 a month.

By having a car, he thought a life of status and comfort awaited him.

But all he got in return was half a decade of "living hell".

"It was hell, really a living hell being in so much debt," he said.

"I was living comfortably before that, with some excess cash from my salary. I already had a big bike then, but I wanted more. I wanted a status symbol."

He was attracted by the fact that he did not have to place a down payment. Plus, he would get a $5,000 cash-back from the $60,000 loan the car package offered.

Adam signed a few forms and was soon driving off in his new car.

But within three months, when the money from the cash-back was depleted, he realised just how much of a mess he was in.

"It was a terrible mistake, a decision that I regretted almost immediately," he said.

"It wasn't just the $600 monthly instalments, but the petrol, parking, insurance and other hidden costs, which came up to about $1,000 a month."

Unable to pay up, he depended on credit cards and lines, opening accounts with six banks just to have enough money for his daily expenses.

Paying for his wedding in 2011 added to his debt, and his honeymoon was spent bitterly answering calls from the banks chasing him for payment.

He said: "I could not sleep. The banks kept calling and the first few months of my marriage were rough. I had many arguments with my wife."

His wife told TNP that she too had her own debt and it was only after the first few months of their marriage that they discovered more about each other's financial troubles.

"I remember that during our honeymoon, we kept receiving calls from the bank and it really affected the mood," said the 31-year-old.

"Later on we couldn't really spend on a lot of things. Going out wasn't even an option."


TOO MUCH TO BEAR

For Adam, the debt became too much to bear and the car became little more than a display piece as he could no longer afford to drive it around.

"I ended up paying so much for something I seldom even used," he said.

"I took out loans and credit lines to pay the bills, and ended up having to live on just $50 a month for two years after all my essential expenditures.

"It was like covering a hole only to dig another one over and over again."

He would get by with just one meal a day and even that meal was a homecooked one.

"If I really had to eat out with my friends, I would eat at home first before going," he said.

"I would then use the excuse that I'd already eaten at home, which was true."

He added that this drove him to take up even more loans from the banks.

"It was very hard to survive on that kind of amount monthly, which drove me to withdraw and use money that I did not have and did not belong to me," he said.

"It made it worse, to the point that I got blacklisted by the banks."

But there is a silver lining to his story.

At his lowest point, in 2012, he turned to Credit Counselling Singapore (CCS) for help, and they helped him get back on his feet.

CCS helped him by drawing up a debt management plan and negotiating with the banks.

He has since started to pay off his debt slowly through instalments, but he has had to change his lifestyle drastically.

"CCS helped me a lot, and I was able to save about $400 a month after that," he said.

"That allowed me to breathe and get back on my feet."

He sold his car in 2012, and is on track to clearing his debt by the end of next year.

Adam has become so traumatised by the experience that he said he will never buy a car again.

"I've done the calculations, and actually for me, taking a taxi every day is cheaper than getting a car," he said.

"So why would I ever want to get a car again?"

He advises those who are tempted to buy a car now because it seems cheaper to carefully reconsider.

"If you really must have a car, then make sure you write down your calculations and understand your financial situation," he said.

"If you don't need it, then don't get it. Going through hell just for a status symbol is not worth it."

It was a terrible mistake, a decision that I regretted almost immediately. It wasn't just the $600 monthly instalments, but the petrol, parking, insurance and other hidden costs.

- See more at: http://www.tnp.sg/news/singapore-ne...ning-cars-puts-them-debt#sthash.QqMA9Ion.dpuf
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

Why so surprised? We are in golden era. More good times ahead!
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

if he had dug in his heel, he could sold his car and yet make a profit.
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

after combing the news.bike, esrly marriage...dont you all smell a THEY ALL??
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

2.3k....haha even everyday eat bread with plain water and not spend on anything......what car can he afford?
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

2.3k....haha even everyday eat bread with plain water and not spend on anything......what car can he afford?
at 2.3 k...buying a car is clearly dumb,,should have spend to get property,,,i know of people who earn 5k and are contented with taxi and uber and train and bus,,,,and shit take taxi also don't need to spend 1k,...
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

Wtf. Weekend car is never a status symbol. It is is sign indicating no $ to afford car but die die want to haolian.

Also what kind of civil servant earn 2300 monthly only. Pub meter recorder?
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

now is a good time to become uber driver no?then he can finally live his life of luxury and comfort?
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

I'm surprise the civil service hire this gong kia and also his wife want to marry a gong kia :D
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

I'm surprise the civil service hire this gong kia and also his wife want to marry a gong kia :D

I personally know of one gong dai gong cb in my company.
he earn $1900 a month
he boost he spend sgd $1 million on his ex gf
he boost he drive his friend car from kallang to redhill without license .(manual car engine never stall despite first time driving)
he boost his father secretly bought 2 hdb house(only gong cb don't know one name cannot have 2 hdb property)
he boost he just bought a F1 oppa phone.when ask to show, he claim it cannot on after 3 days.send back to warranty.when ask to show after repair, he say the phone his brother decided to borrow from him to use
this gong cb bought ear accessories for a KL girl working as massage parlor..gong cb don't know kl gal will not fall for a gong cb who earn $1900/mth

gong cb everyday like to por boss lan par..thinking he will get further.but he is all wrong.all his colleagues giggles at his gong cb mentality.
gong cb is damm bloody lazy and deprive the world food stockpile.he eat like a pig and smell sourish like a bloody pig
gong cb is a spy for the company.will report the slightest abnormally he can sight with to boss.
this gong cb borrow 2k from another colleague because a wechat gal said want to see 2k in his account before friend him
this gong cb ask me $500 can invest in gold saving from uob because he saw me always busy investing gold on smart phone
this gong cb always queue up at posb bank queue because his mother control his atm cards (history of kena connned by woman)
this gong cb is a singaoprean.
he studied ite but he claimed he has a diploma.(not sure he have)
 
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Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

When I first bought a car years ago, my status went up immediately. More girls were friendlier with me because I was able to drive them about, including bringing them out to romantic spots by the reservoirs or Mount Faber or some nice hotels for staycations. It was much easier to get laid. I don't understand how this young civil servant could have screwed up so badly.
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

When I first bought a car years ago, my status went up immediately. More girls were friendlier with me because I was able to drive them about, including bringing them out to romantic spots by the reservoirs or Mount Faber or some nice hotels for staycations. It was much easier to get laid. I don't understand how this young civil servant could have screwed up so badly.

is true..a car could get you to certain place a bus couldn't
etc
mount faber
many other place
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

is true..a car could get you to certain place a bus couldn't
etc
mount faber
many other place

It is also much easier to hook gals when owning a car. But paper cannot Cover fire, before the gal discover he is a gong cb poor sinkie better fxxk the gal first.
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

It is also much easier to hook gals when owning a car. But paper cannot Cover fire, before the gal discover he is a gong cb poor sinkie better fxxk the gal first.

Before the gal discover he is a gong cb, poor sinkie better fxxk the gal first, but not if he discovers she has a chao cb. :D
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

Before the gal discover he is a gong cb, poor sinkie better fxxk the gal first, but not if he discovers she has a chao cb. :D

Disagree. The cb is already there. Discover first or not does not matter anymore .smelly means smelly. Not smelly means not smelly.
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

Disagree. The cb is already there. Discover first or not does not matter anymore .smelly means smelly. Not smelly means not smelly.

A very chao cb could be a sign that something is wrong with the cb. :D
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

When you buy a car, you are paying lots of dough to feed your ministars.
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

Before the gal discover he is a gong cb, poor sinkie better fxxk the gal first, but not if he discovers she has a chao cb. :D

chao cb don't need to discover.
sit inside car can contaminated the whole atmosphere
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

I think he over spent at that moment.
But 2007 earn 2.3k.
I think now he may earn 6k or more than that.

I 2007 also only earn 2.5k. Now about 6k.

Maybe I also promote very slow
 
Re: Civil Servant Who Earn $2.3k Per Month Said: Buy Car = Life of Status And Comfort

chao cb don't need to discover.
sit inside car can contaminated the whole atmosphere

the cb doesn't need to open. just the bitchy mouth will stink up the mood.
 
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