TAKING taxis to work became too expensive for this Shenton Way executive.
Fed-up with the taxi fare hikes last December, IT consultant B K Lim did his sums and decided to buy a car.
It turned out to be a cheaper alternative, although his happiness was short-lived.
With the latest round of Electronic Road Pricing (ERP) increases, it is now going to cost more for this 33-year-old who drives to work.
The Land Transport Authority (LTA) unveiled five new gantries along the Singapore River line, bringing the total number of gantries to 65 on Monday. (See map above.)
Some 32 gantries in the Central Business District, including those around Orchard Road, will also have their charges increased by between 50 cents and $2 from 7 Jul.
The rates are being revised mostly during the evening time slots because speeds have fallen steadily during the home-rush hours, LTA said.
But Mr Lim is quite adamant about sticking to his car.
This is despite have to pay about $1to $2 more for driving home on the Fullerton Road stretch, where a new gantry has been set up.
Mr Lim said: 'Taking taxis is expensive, plus I've already paid so much for the car. I will not give it up simply because of a $1, $2 increase.'
Mr Lim, who is married, paid about $43,000 for a three-year-old Honda Civic two months ago.
He used to take taxis to and from work from his Pasir Ris condo to Shenton Way. The trips would cost him just under $50 a day.
But after December's taxi fare hike, he said his fare increased to about $30 each trip, or about $60 a day.
DOING THE SUMS
'I did my calculations and realised that it was more economical to buy a car instead of taking taxis every day.'
The New Paper did a quick calculation for Mr Lim and the findings show that the yearly cost of maintaining a car is less than taking taxis to work every day.
It is even cheaper if he uses the Park& Ride Scheme, which allows motorists to park their vehicles near a bus interchange or MRT station before continuing the journey by bus or train.
During the ERP briefing, LTA's CEO Yam Ah Mee said: 'With higher fuel prices, we hope that people will switch to not just public transport but also to taxis as well because they're more convenient...'
But for the moment, it is hard to convince motorists such as Mr Lim.
He said: 'It's definitely more convenient for me to own a car because I am not exposed to the weather elements and I don't have to wait for a cab. The conveniences far outweigh taking taxis all the time.'
But if fuel prices keep creeping up, Mr Lim said he might take up the Park & Ride Scheme.
Former transport researcher Han Songguang said that it is hard for car-owners to give up their freedom even with rising ERP rates.
Mr Han said: 'They pay $40,000 for a car, a $2 ERP charge will not deter these people from using their car if they can afford it.'
But motorist Daniel Koh, 41, who drives to work in Shenton Way, is feeling the ERP pinch.
He said: 'The way ERP rates keep going up... the prospect of taking public transport is looking more attractive and economical.'
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If you are willing to admit faults, you have one less fault to admit.
IT consultant B K Lim did his sums and decided to buy a car.
I am sorry if I am going to offend you, I do not think Mr. Lim had owned a car before.
I do not think he got his sum right. Owning a car and taking taxi are 2 different issues altogether.
Owning a car needs the followings:-
Pay road tax Pay ERP Pay carpark charges pay fuel pay maintenance including carwash, polish, and etc. pay cash upfront, whether Looks for parking lot, frustrating many times worry other scrath your car
Taking a cab, very simple just raise your hand and pay the fare.
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Do not trouble troubles until trouble troubles you.
But Radiogaga, the report also says that The New Paper also did the sum and found that driving a car is indeed cheaper, I am wondering how they do their sum or their calculator is different from ours... Maybe those that have did the sum can show us what had they factor in for the calculation...
i concur the sum done never factor many hidden costs for owning a car
worst...car ownership is subjected to accidents or even fatality...a big burn of the pocket
as for the reporter...he's happy driving a car oblivious to the hidden costs...as reported in today's ST...many car ownership lease their cars to rental coys since they realised a big hole in their pockets
taking a cab is hassle free & can even close eyes & relax...hear stories from chatty cabbies...rain or shine right up to your doorsteps...even if the driveway is tricky keke
in conclusion...its the very typical s'porean mentality that taking a cab is expensive as their mind would be thinking with $30 fare can go eat seafood
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If you are willing to admit faults, you have one less fault to admit.
this is the cala that they have. and yes is cheaper for him to own a car which he stay so far a way!
What's your cheapest option?
ASSUMING two trips a day and 20working days a month, we estimate the yearly transport costs for someone living in PasirRis and working in Shenton Way:
TAXI
Average fare (including ERP): $30
Yearly cost: $14,400
DRIVING OWN CAR (cala by the 3 yr old car he had bought)
Car's depreciation: $4,500
Road tax: $800
ERP: $1,200 ($5 per day)
Insurance: $1,000
Maintenance: $500
Petrol: $2,000 (trips to and from work)
Parking in CBD: $3,360
($280 per month x 12 months)
Parking at condo: $600
($50 per month x 12months)
Yearly cost: $13,960 after 10 yr still can take back some $14000 on omv
PARK & RIDE SCHEME
Car's depreciation: $4,500
Road tax: $800
Insurance: $1,000
Maintenance: $500
Petrol: $700 (based on 5km drive from home to Pasir Ris MRT station)
Parking near MRT station & taking train: estimated $1,440 ($3 per day parking and$3 for two-way train tickets between Pasir Ris MRT & Raffles Place MRT)
--------------------------------------------------------------------- What's your cheapest option?
ASSUMING two trips a day and 20working days a month, we estimate the yearly transport costs for someone living in PasirRis and working in Shenton Way:
TAXI
Average fare (including ERP): $30
Yearly cost: $14,400
DRIVING OWN CAR
Yearly cost: $13,960
PARK & RIDE SCHEME
Yearly cost: $9,540
yes, your calculation is pretty close but the mainteinance is abit low.
3 months or 10,000 km servicing is approx = $100 x 4 / year tyres is approx = $120 x 4 / year car wash once a week = $5 x 48 times / year change timing belt = $500 / year change battery = $100 / year drive shaft, bearing n other wear n tear = $200 / year
total yearly maintenance can be closed to = $1260 +/-
walk to work... $$00,000.00 water bottle $1.50 home boil water.. water and electricity to boil or gas $1.00 ride bicycle to work $150.00 change 2 tyre 2 times a year $40.00 wahahahaha
walk to work... $$00,000.00 water bottle $1.50 home boil water.. water and electricity to boil or gas $1.00 ride bicycle to work $150.00 change 2 tyre 2 times a year $40.00 wahahahaha
Bro pirate r u sure walking to work is $00,000.00 It depend wat type n brand of shoe he's wearing, The cheapest slipper i had bought in mud land also cost me RM2/- hor....
...rain or shine right up to your doorsteps...even if the driveway is tricky keke
