Car Ownership – Can Your Car Pay for Itself?
It’s no secret that owning a car in Singapore is a ridiculously expensive affair. From Electronic Road Pricing (ERP) charges to car loan instalments, the accumulated costs can put a squeeze on your finances — especially if you’re in between a regular job or saving up for a big goal.
Enter Grab. Becoming a ride-share driver with Grab enables you to pay off these expenses with a side income. You can accept rides according to your schedule, so you can potentially use an hour’s window in your day to earn a month’s worth of petrol. Assuming you drive an entry-level Category A vehicle, we’ve come up a list of your car ownership expenses and how you can pay them off easily by driving with Grab.
ERP: $176 per month
Need to get into the CBD? Accept a ride that takes you there and let your passenger pay your ERP charge for you as part of his fare!
Also, with Grab’s guarantee of minimum $8 fares for short rides for GrabCar, you’ll earn a day’s worth of ERP charges in a matter of minutes.
Petrol: $240 per month
When you notice the fuel needle on your dashboard leaning towards Empty, accept a Grab ride before heading to the pump. A few trips are more than enough to get you covered for your weekly refuel.
Parking: $440 per month
Real estate for your car doesn’t come cheap — pay it off by driving with Grab. Benefit from GrabCar’s lower commissions during weekday afternoons* and you won’t feel the pain of parking fees when out and about with the family during the weekend.
Car Loan: $1,003 per month^
Need help to pay off your hefty car loan? Commit more time to driving with Grab and stand to enjoy attractive bonuses as well as special weekly and monthly incentives such as fare boosts for GrabCar. Once you sign up as a driver with Grab, owning a car has never been easier on the wallet.
^Assuming an entry-level Category A vehicle that costs $90,000 inclusive of COE, ARF, GST, Excise Duty, OMV, dealer’s margin and monthly installment after 40 per cent down payment of $54,000.
Pay nothing to maintain your car? Drive with Grab now!