A car is considered a personal use asset. This means that on a long term basis, the car depreciates to almost zero. After netting the interest due to car loan, maintenence, insurance, road tax and petrol, the car automatically becomes a liability. For those in the sales job who need the car to generate the sales revenue, they have no choice as it is a necessity. However, for others a car is just a liability. In Singapore, car price is over priced and too expensive. The price is further inflated by the COE. It is better to just take the taxi whenever you need to travel quickly from one place to another. Most people buy car to show off. This is a silly attitude. There is nothing to show off when your liability is more than your asset.