Transport & Motoring Archives | Page 11 of 15

Avoid Making These Costly Mistakes As A Parent Of A Teen Driver

Having a teenage driver is a breathtaking experience that can keep Singaporean parents awake at night. It is normal to worry about the safety of your child on the open road where anything can happen. Who am I kidding? Even my parents are terrified that I am driving as a young adult.

If you do not want to pay for increased insurance premiums or medical fees, here are three mistakes that you need to avoid…

MISTAKE #1: SETTING AN EARLY BLASTOFF

Ah, the teenage brain! How does one begin to describe the wiring of the “teenage brain”? For starters, it is marked by the significant to the rewards prompted by taking risks. Researchers from the University of Texas found that teenage brains were craving for adrenaline-fueled rewards. This explains why they lean toward extreme activities. The teenage brain may be harmful when mixed with the ability to drive a vehicle.

The minimum age to acquire a Qualified Driving Licence in Singapore is 18 years old. Just because your beloved can start driving at 18, does not mean that he or she needs to be behind the wheels at a young age! Having your teenager wait makes a financial sense. Time may not only give your child maturity, but it may also reduce your car insurance premium.

MISTAKE #2: PURCHASING A NEW RIDE

Most Singaporean parents want to give the best for their children. The idea of buying a shiny ride for your newly licensed driver may have crossed your mind as a devoted parent. You might rationalize your purchase by thinking that a brand new car is safer and more advanced. However, an expensive car costs more to insure. Not to mention, you are handing the responsibility to a fairly experienced driver. Are you brave enough to tackle these risks?

Let me highlight the total cost of owning a car (i.e., excluding miscellaneous, maintenance, parking, and petroleum fees). 10 years of owning a car may cost you about S$138,723. This whopping amount includes the Certificate of Entitlement, Total Car Loan Value, Road Tax, COE and PARF Rebate, and Car Insurance.

Consider purchasing a used car as a training ground for your teen. This will teach him or her the value of saving up. Isn’t it more thrilling to drive an impressive car with the money that you worked hard for?

MISTAKE #3: FAILING TO ENFORCE THE LAWS

As I said a while ago, the teenage brain is wired to embrace adrenaline-fueled situations and rewards. This factor may increase the risk of breaking the traffic laws and getting into vehicular accidents. Teenage drivers generally face greater restrictions than other drivers. The main restriction is the age limit.

Last year, a horrific accident involved an under-aged driver (i.e., aged 17) and a motorist at the junction of Ang Mo Kio Avenue 5 and Ang Mo Kio Industrial Park 2. The motorist was badly injured and his passenger died instantly. The teen driver suffered from emotional distress after realizing the gravity of his actions. He was even bullied online. Under the law, the penalty for hit-and-run accidents is a fine of up to S$3,000 or imprisonment of up to 12 months.

Image Credits: pixabay.com

Similar scenarios may be prevented with careful guidance from the parents. I am not saying that you are solely responsible for your young driver’s every move. But, you have a heavy influence on it. Start by educating your child about the traffic laws and by serving as a good role model of a responsible driver. Use foresight by enrolling your teen in a local driving school such as the Singapore Safety Driving Centre (SSDCL) or the Bukit Batok Driving Centre (BBDC). These institutions were registered for Basic Theory Test, Final Theory Test, and Practical Driving Test.

Sources: 1 & 2

How To Save Money As A Newbie Driver

Not owning a car in Singapore may be the wisest thing for your wallet. However, there are efficient ways to minimize your financial destruction. Consider the following:

GAIN THE THEORETICAL KNOWLEDGE FOR FREE

Theoretical knowledge includes the fundamental aspects of driving such as the road signs and the car parts. Recently, I enrolled myself in a driving school that offered free lectures as a part of the year-end promotion. I was fortunate as some driving schools charge extra for these.

You may avoid the additional costs too! Simply uncover the gems found online. For example, you may download this informative file to widen your understanding on Singapore’s road traffic signs.

You may also purchase a single instructional book and learn by yourself. Doing so will save you money, time, and effort.

CHECK THE CONDITION OF YOUR TIRES

Be honest with yourself. As a newbie driver, you may overlook the state of your tires unless they are completely flat. A tire will enable you to travel as long as it has air. This is why some people fail to realize that their tires are under-inflated. Under-inflated tires can not only cost you more petrol, but also your lives.

Image Credits: pixabay.com

Prevent accidents from happening by checking your tire pressure on a monthly basis.

REMEMBER THE FIRST GEAR

As I examined the available options from the driving school, I committed myself to manual vehicles first. I wanted to absorb the basics in order to have an easier time with the automatic vehicles.

What I like most about manual controls is its ability to control the acceleration. If you place more importance on fuel-efficiency then, this is a route that you shall take. Manual vehicles generally use less fuel depending on the driver’s awareness and proficiency. A driver who constantly skip the first gear tend to burn more fuel with the second gear’s power. So, do not forget to initially shift the control to the first gear.

PLAN YOUR PATH AHEAD OF TIME

In this day and age, it is easy to rely on the convenience of technology. The community-based navigation app called Waze boasts its ability to provide an accurate map that steers away from traffic jams. Almost all of my family members depend on this free app. However, its distinct routes may not necessarily be cost-efficient.

Save money on petrol by searching the shortest route possible. Look at Google Maps and other resources to get a decent estimate of how long each path may take. Plan wisely!

Sources: 1, 2, & 3

SWAT, a new ride-sharing app, takes you anywhere for just $5 fixed

Do you take Uber and Grab often because of its cheap fares?

Here comes SWAT, a new ride-sharing service, that has recently launched and promises to take you anywhere for a flat fee of $5 regardless of the distance.

Too good to be true? Read on.

SWAT aims to provide low cost and convenient transport that is accessible to everyone. To achieve this, they analysed millions of commuters’ data to identify repeated group travel patterns.

The data shows that most of us travel from and to the same destinations more often than we think. SWAT technology adopts a data driven approach to pool commuters real time to achieve highest vehicle utilisation rate at the lowest cost for commuters

SWAT is an intelligent pre-book ride services that provides taxi-like services at bus-like prices.

SWAT currently uses Toyota Hiaces as its Swatmobiles and they can ferry up to 13 passengers at one time. Think carpooling.

The catch, however, is that you need to prebook your ride up to 1 day in advance or up to 30 minutes before your departure. Prebooking your ride creates reliability and reduces the stress of early peak hour commute.

In some occasions, you will also need walk to the pick up location of no more than 300m to wait for the vehicle. These are bus stops, taxi stands, lamp posts, petrol kiosks, and landmarks.

Your travelling time will be slightly longer than if you took a taxi but the difference should be no longer than 10 minutes.

How it works:

[fancygallery id=”5″ album=”147″]

As part of its pilot launch, the services currently operate from 7am – 10am on weekdays excluding public holidays. Routes and servicing hours will be expanded progressively.

Currently, iOS users can download the app from the Apple iTunes store. It will soon be available for download at the Google Play Store.

For more information on their services, check out their website here.

* Pre-booked rides will be free this week till 30 Sep 2016.

4 Types Of Car Loans In Singapore

1. BANK’S CAR LOANS

Bank car loans are the most accepted, traditional, and typical route consumers take. Due to their traditional nature, loaning money in the bank requires the completion of fixed procedures that attest your financial stability.

You will be asked to complete a loan application that may include: your name, NRIC, date of birth, address, current and previous employers, length of employment, occupation, sources of income, total monthly income, and information about existing credit accounts. This along with your application shall help the bank decide if you are trustworthy and credible enough to pay the loan. This is why you must have a stable income and good financial history if you are considering this option.

The interest rates for bank car loans can go as low as 2.28% (DBS Car Loans) or 3.25% per annum (Maybank Car Loan).

2. FINANCE COMPANY’S CAR LOANS

Finance companies, licensed under the Finance Companies Act, are focused on providing saving deposits and credit facilities to individuals and firms.

They typically work with banks, insurance companies, and auto dealers to give the best possible deals to their clients. If you are striving for the cheapest price for a used car, get a loan from a finance company that is also an auto dealer. Such company purchases vehicles from various sellers for resale. Aside from this, finance companies are a great source for refinancing loans.

For example, Speed Credit Pte Ltd offers a car-refinancing loan with a maximum amount of 80% of its Prevailing Quota Premium.

3. LICENSED MONEY LENDER’S LOANS

Licensed money lenders are businesses that are regulated by the country’s law. Unlike the loan sharks that lend with high interest rates, licensed money lenders’ fees are controlled by the parameters of the law, which means you can expect to have a fair deal. Some of the known money lenders in Singapore are Max Credit and CashMax Credit.

It is important to realize that the loans offered by the licensed money lenders are heavily influenced by your annual income. If your annual income is more than S$30,000 but does not exceed $120,000 then you can loan up to 4 times the amount of your monthly income. And if your annual income is at least S$120,000, you can loan as much as you want.

So if your annual income is less than S$20,000, licensed money lenders are the ideal option for smaller loans such as repairing your existing car.

4. SELLER’S CAR LOAN

An unconventional loan option is arranging a deal directly with the seller. You can either pay the seller in installments or pay the seller with a deposit. By paying in installments, you can only get the full ownership of the used car once you have paid the complete amount. By paying the seller with a deposit equal to what he has paid in the bank, the balance will be your responsibility after transferring the ownership to you.

Image Credits: pixabay.com (CC0 Public Domain)

This option only applies to used cars.

Sources: 1, 2, 3

Places To Find The Cheapest Parking Rates In Singapore (Most Are Free!)

1. IMM BUILDING

Eager to go on a shopping spree within your budget? Visit IMM! IMM is the largest outlet store in Singapore that boasts with 80 stores offering discounts of up to 80% all year round. Parking here is free for the first two hours and the first entry. Charges for subsequent time are S$0.30/15 minutes and S$1.07/hour. These rates apply from Monday to Sunday including Public Holidays.

Location: 2 Jurong East Street 21, Singapore 609601

2. MUSTAFA CENTRE

Open for 24 hours, Mustafa Centre is heavily popular in the shopping scene. From inexpensive groceries to affordable jewelry. You name it – they have it! In the management’s effort to improve your experience, they are giving away free parking for the first hour daily. Every subsequent 30 minutes or part thereof is charged with S$1.

Be prepared with at least S$2 as you might get drowned with all of Mustafa’s choices!

Location: 145 Syed Alwi Road, Singapore 207704

3. WEST COAST PARK

If you are hoping to de-stress from the city’s work life, grab a bicycle or a kite and retreat at West Coast Park. It is basically East Coast Park’s less crowded counterpart.

Best of all? The parking at Carparks 2 and 3 are free daily!

Location: West Coast Park, West Coast Highway, Singapore

4. CITY SQUARE MALL

City Square Mall, Singapore’s first eco-mall, is at close proximity to Farrer Park MRT station. Aside from its environmentally friendly features and array of food selections, customers can enjoy their free parking deals (details here).

Otherwise, you will have to pay the following rates:

Monday to Friday (except Public Holiday)
$1.40 for the first hour
$0.70 for every subsequent 30 minutes
$3.00 per entry

Saturday, Sunday & Public Holiday
$1.40 for the first hour
$0.70 for every subsequent 30 minutes
$3.50 per entry

Motorcycle Parking
$2.00 per entry (whole day)

Location: 180 Kitchener Rd, Singapore 208539

5. IKEA ALEXANDRA

IKEA Alexandra Singapore offers free parking for the first three hours for both IKEA FAMILY and Non-IKEA FAMILY members (T&Cs apply). IKEA FAMILY members can avail the free parking with a minimum spending of S$5 on home furnishing products. Non-members can enjoy the same privilege by spending a minimum of S$15 on home furnishing products. Nonetheless, you will be charged with S$1.50/30 minutes.

Location: 317 Alexandra Rd, Singapore 159965

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1, 2, 3, & 4

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