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SHOULD YOU SWITCH TO TAKING PUBLIC TRANSPORT?
Text | Goh Zhi Xuan
Photos | Editorial team, Newslink
Photos | Editorial team, Newslink
With affordable and convenient public transport readily available, should you sell off your car and switch to taking public transport? Let's compare and find out.
Having your own car has always been the most sought after mode of transport as it provides the highest level of convenience. Have errands to run and appointments to catch? Hop into your car and off you go. With a car, there isn't a need to set out earlier to accommodate to the fixed public transport schedule or stand around and wait for buses.
But that may not be as bad as you think. After all, the efficiency of public transport in this small city-state has been perpetually increasing. Trains and buses now go to many more locations, with increased frequency while remaining relatively budget-friendly. Meanwhile, private-hire vehicles (PHV) fill the gap for taxis, vastly increasing availability. Can public transport actually be the optimal choice these days?
Having your own car has always been the most sought after mode of transport as it provides the highest level of convenience. Have errands to run and appointments to catch? Hop into your car and off you go. With a car, there isn't a need to set out earlier to accommodate to the fixed public transport schedule or stand around and wait for buses.
But that may not be as bad as you think. After all, the efficiency of public transport in this small city-state has been perpetually increasing. Trains and buses now go to many more locations, with increased frequency while remaining relatively budget-friendly. Meanwhile, private-hire vehicles (PHV) fill the gap for taxis, vastly increasing availability. Can public transport actually be the optimal choice these days?
1. Cost
Cars have always been known as the costlier mode of transport, but just how much more does it cost as compared to the alternatives we have? Let's find out.
For comparison purpose, we assume the profile of a 30-year old single male, travelling 30 days a month, for a total distance of 50km per day, to and from work (25km/trip)
For comparison purpose, we assume the profile of a 30-year old single male, travelling 30 days a month, for a total distance of 50km per day, to and from work (25km/trip)
2018 Toyota Vios 1.5E | |
Car cost | $81,824 |
Road tax | $6,820 |
Parking | $26,400 |
Fuel | $24,803 |
Insurance | $12,561 |
Maintenance | $12,800 |
VES Rebate/Surcharge | $0 |
ERP/Parking & Misc. cost | $6,000 |
PARF Rebate (at end of 10yrs) | $6,728 |
Total cost (10yrs) | $164,480 |
Total cost (monthly) | $1,370 |
Taxi Cost | |
Flag down | $3.40 |
First 10km | 25x$0.22=$5.50 |
Next 15km | 42.86x$0.22=$9.43 |
25km trip | $18.33 |
Per day | $36.66 |
Per month | $1099.80 |
PHV cost | |
For 25km trip | $2.50+12.50=$15 |
2 trips per day | $15x2=$30 |
Monthly cost | $900 |
Public Transport | |
Adult concession pass | $120/month |
Assumptions:
30-year old single, male driver with no driving experience(NCD up to 50% by fifth year). Car loan at max loan term of 7 years, at an interest rate of 2.78% per annum. HDB parking rate of $110/month for both home and work place. 50km of daily travel distance, 30 days a month. Car uses 95 Octane Petrol at $2.37/litre. Miscellaneous costs assumed as $50/month. Taxi charges at $3.40 for flag down, $0.22/400m for first 10km or less, $0.22/350m after 10km. PHV charges at $0.50/km and a base fare of $2.50.
30-year old single, male driver with no driving experience(NCD up to 50% by fifth year). Car loan at max loan term of 7 years, at an interest rate of 2.78% per annum. HDB parking rate of $110/month for both home and work place. 50km of daily travel distance, 30 days a month. Car uses 95 Octane Petrol at $2.37/litre. Miscellaneous costs assumed as $50/month. Taxi charges at $3.40 for flag down, $0.22/400m for first 10km or less, $0.22/350m after 10km. PHV charges at $0.50/km and a base fare of $2.50.
As we can see, one will be able to save the most by getting a concession pass for public transport, as you will be able to save $1250 a month. Even after you factor in the infrequent taxi rides for 'emergencies' such as days where you wake up late and need to rush to work or those shopping trips over the weekend where you like to pamper yourself, you will probably have a decent amount left over as savings.
You may be thinking, 'wait, there's no way a car costs this much!' Indeed, the base cost of the Toyota Vios is only $71,988, which will cost $599.90 a month. However, once you factor in the various running costs such as cost of fuel, maintenance, road tax and insurance, that figure inflates up to more than twice, which makes owning a car in Singapore almost certainly a financial mistake.
You may be thinking, 'wait, there's no way a car costs this much!' Indeed, the base cost of the Toyota Vios is only $71,988, which will cost $599.90 a month. However, once you factor in the various running costs such as cost of fuel, maintenance, road tax and insurance, that figure inflates up to more than twice, which makes owning a car in Singapore almost certainly a financial mistake.