Owning a car in Singapore is not easy mainly due to the high cost of buying one as well as the difficulty obtaining a Certificate of Entitlement. Despite this, Singaporeans still long to own a car to give them more mobility as well as the capability of reaching out of the way places. Car choice is normally associated with the age of the potential car owner. Let us take a look at the car preferences of people based on their age.
Even though owning a car in Singapore is not easy, a survey conducted by Sunday Strait Times showed that majority of young people or Millennials in Singapore would still like to own a car. The majority of the respondents did not consider it as a status symbol. They want to own a car as a matter of convenience since it allows them to go to out-of-the-way places or it can help bring the family from one place to another.
The high cost of owning a car has made young people look at cost first before style or design. Since they are still trying to build up their career, they look for reasonably-priced cars. They also check the features offered by the car. Their strong affinity to technology will have them leaning towards cars with more tech features. A GPS or entertainment system is among the gadgets they probably hope o have in the car. Due to these factors, they may look at buying a Toyota Aqua or a Honda Shuttle.
There are also some young people who come from well-off families. These millennials normally look for a fast ride to match their fast lifestyle. Unlike their working-class counterparts, these look at cars as a status symbol. They have the tendency to show off and may even have more than one car in the garage.
The only thing that prevents them from by a car is the Certificate of Entitlement since it is required before anyone can own a car in Singapore. These moneyed millennials normally get an Audi, Mercedes-Benz or BMW.
People considered a part of Generation X or those in their middle ages are mainly old enough to afford to buy what they want and young enough to enjoy them. While they can afford to display their status, they have the tendency to look at the features offered by a car. Even as they focus on utility, they also want cars that are comfortable to use. They essentially mix up luxury with practicability.
This practical approach to buying cars is also reflected at their consumer habits. Since they were brought up focusing on financial responsibility, they are more discerning with their choices. One of the cars they typically buy is the Ford Explorer Sport due to its practicability. But, there are also some instances when they would splurge. They may buy cars they dreamed of having since they were young. At this point in their life, they will have money to spend for the cars they were not able to afford in college.
Old But Wise
Those in the older generation or the Baby Boomers are another story. They are already at the twilight of their lives and see cars as status symbols. They want to show off their accomplishments and are in the market for high-end luxury cars. These cars offer a comfortable and luxurious ride.
These people are experiencing a new phase in their life where the home is empty and they have both time and financial freedom. Due to this, they may be attracted to cars that are sporty and elegant. On the top of the list of Baby Boomers is Mercedes-Benz. The German Brand is followed closely by Jaguar and Porsche.
Our preference for certain cars may change as we age, but our desire for value and high transparency when purchasing a car remains a constant. And with Carro. you can be assured to get both. No matter what your age is, you will be able to find your perfect used car at Carro.