SG: "Cars not a necessity" says local oil trader
52 year old oil trader Mr David Goh is supportive of measures that force those who own multiple cars to pay more to give some sense of fairness for the rest, but he says he is not doing so in support of the middle-class' aspirations to own a car. In his opinion, cars are a luxury, abeit it's one he can afford; by his estimates, car owners fork out $1,500 monthly on fuel, road tax, Electronic Road Pricing charges, carpark fees and insurance. He says that the more cars one owns, the more burden one has to bear, and supports the notion of car sharing as an alternative to car ownership.
Car ownership has been made less possible in Singapore after the loan curb regulations have been put in place, for most of the time, the buyers do not have enough extra cash on hand to pay the 50% up front.
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