Advice on car ownership?

[oralia]

@william3 I make less than you and I have similar expenses, and I'm able to afford a car that is more expensive than average.

In central Tokyo your biggest expense will be a parking space.

You'll be fine.

 

[william3]

@oralia Do you mind sharing what your monthly car expenses look like?
I have never owned a car, so any data would be much appreciated.

 

[oralia]

@william3 Besides the car loan, which will depend on what car you end up buying, how much you pay as the deposit, and how many months you take to pay it back:

• Around ¥3500/month in fuel (for a Toyota hybrid, driving ~5000 km per year)
• Around ¥10-15000/month in toll roads
• Around ¥7000/month for insurance
• About ¥1000 in the car wash every once in a while. I used to wash it every 2-3 weeks at the beginning, now I wash it myself in my parking space
• About ¥3000 monthly for parking (not my parking spot, but when I go to the mall or to central Tokyo and I have to park at a paid parking)
• Around ¥30000 once a year for car maintenance
• ¥75000 last November for the first 車検
• ¥36000 every May for the vehicle tax
• I had a ¥7000 fine once for not stopping at a stop sign.

Besides these expenses, you will have to find and rent a parking spot (月極) near the place you live. In central Tokyo this will cost you about ¥50000/month, maybe more if you're in an expensive area. I don't have to pay this because I own a house with my own parking spot.

Note that these are the costs for my Toyota hybrid (a very normal C-HR). I've recently switched to a sports car that is going to be more expensive to maintain (fuel, insurance, and repairs/車検), but if you buy a Tesla or a more common car then you won't have to worry about that.

 

[oralia]

By the way, note that insurance will be more expensive for you because you're much younger and haven't been driving before. I'm 48 years old, got my Japanese license in 2011 and have never had an accident (touch wood!). Apparently I get a 44% discount on insurance because of this.

 

[william3]

@oralia Thanks so much, I will definitely keep that in mind.

 

[onthemoon]

@william3 Since I don’t need a car for everyday life, I just rent one whenever I feel like it. Much less hassle and cheaper, but I still get the enjoyment. Why drive 1 car when you can try out a different one every time?

 

[howeryall]

@william3 You show me a paystub for 1800man and I’ll come work for you.

 

[l_noel]

@william3 urban driving is by far the most annoying aspect of owning a car in Tokyo, especially if you're not going to be moving anytime soon.

when you do move, you have to do paperwork for your car too. you have shaken inspection every two years, and road tax yearly. admin stuff isn't prohibitively expensive or complex.

everyone saying rental isn't considering that everyone in japan plans their trips weeks/months in advance, so car reservations in any given destination often fill up quickly and get booked out for weeks during popular times to travel - so owning a car does give you the freedom to just dip out to wherever and enjoy the drive

 

[toni123]

@william3 I don’t own a car. I got over that emotional purchase several cars ago. Go rent a Skyline and head for the mountains today. That’s what I do when I get the “I can buy any car I want” feeling.

 

[pastorpontibus]

@william3 I make less and bought a Stepwagon (got two kids) and I consider it as my best purchase besides our house. The freedom to be able to go anywhere and just relax and listen to music/podcast is the best therapy ever.

For Tips:
1. Scout for a parking area at your place and see how much it would be monthly. I dont pay for parking due to owning our own house.

1. Make a big downpayment to make the monthly lower. Honestly with your salary you can buy the car outright.
2. Insurance = full coverage/unlimited depends on age, type of license, etc. i'm using sompo and it ranges around 9k-11k (i have kids so im sure yours would be lower)
3. Gas = 8,000 monthly. Our car is EHev so hybrid and good fuel consumption. Plus we dont really go far. Maybe one long trip a month.
4. Etc = tolls in tokyo or in japan is crazy expensive. I only do toll when I'm in a rush but else i do non toll option via google maps and enjoy the drive.
5. Vehicle Inspection = 120k+ this is via dealer. I took a 5year extension so i dont need to do it after 3 yrs. This can also be lower if you bring your car to autobacs, etc..
6. Vehicle tax = van 30-40k a year. So anything lower than a van means lower the vehicle tax
7. Accessories etc... = at your own expense of course

Hope this helps.

 

[william3]

@pastorpontibus Thank you for being the only person on this thread that is actually sharing car related expenses and advice. I'll definitely keep them in mind.

 

[missy08]

@william3 With that salary I don’t need you have to worry so much about budgeting, bro.

 

[vannahlovesjesus]

@william3 Not recommended because of the upkeep costs, only worth it if you drive weekly. Far easier to rent when you want to go for a ride.

 

[bef]

@william3 Don’t get a Tesla. Get a BMW or Mercedes electric if that’s what you’re into.

 

[johndjhnydee]

@william3 Man, this post making me depressed. On another note: buying a car or house is relatively easy, if you could find the right people they’ll walk you through anything, ask them for financial simulation. With your salary they’ll grovel beneath your feet.

 

[gotquestion]

@william3 I’d buy a house with a parking spot and then a car. Won’t have to pay for parking and the cost of the car will likely be offset by equity build up in the house.

 

[jewelpet]

@william3 just buy the tesla it is drop in the bucket for your level of income. they are ranked high on safety so good pick

 

[mary44]

@william3 There were two EV car threads on r/japanlife in the last three months and Tesla was described as an especially disadvantageous asset to have in Japan compared to other countries. Luxury foreign brand compared to many other, cheaper EV offers.

 

[jonaddidas]

@william3 Buy my car lol. If you’re just looking to drive every so often and don’t care about speed or flashy looks. I’m going to be leaving Japan soon and need to get rid of it. 2018, low mileage. PM me, I’ll walk you through the details of owning a car in the city.

 

[heyitsthatguy1247]

@william3 in your case this is a question of "time preference" as there are more than one implicit underlying assumptions in your post.

Depending on how is your current set up there is the possibility of getting the car and offset part of it as a cost.

wihtout knowing your financial goals it is hard to give an advice. it sounds from your post that you are grinding a lot (9-7 work + gym..) plus I think constraining oyurself on the spending side (thus your question). I think your biggest enemy here is not getting a car, but burning out for being too strict with yourself. Have an honest conversation with yourself and make sure you are addressing a few of those "wishes" your internal voice is telling you, then you might figure out whether you want a car or that is just a shortcut as you are unable to get someehting else you might wnat (e.g: working on a project you actually like, and/or getting more freetime..)