I have a confession: I’m fascinated with things that swirl in a downward spin.

They are nothing too purposeful or grand. Just mundane stuff like starring at the washing machine to see all my clothes – both monochrome and psychedelic - mingle in a robust downspin, or scrutinising tea leaves – both fruity-sweet and richly bitter varieties – swivel and eventually come to rest at the bottom of my Doraemon cup.

I know what you’re thinking – I do draw the line at the toilet flush, thank you very much.

Before you write me off as an insouciant free spirit, let me elaborate that I do get excited by ‘worldly’ southbound things too; case in point: the recent fall in vehicle prices.

Now, I’ve never aspired to own a car (the thought of bearing an irredeemable depreciation cost is enough to make me feel down). Neither was I ever motivated to get a driving license (in my Utopian world, I prefer to be driven around). But thanks to the downturn, I must admit that the act of acquiring four sets of wheels may not actually result in a fifth one (wheel) after all.

It all started with the $2 COE last November. I mean, what happened, folks? Did we get so caught up with Zhang Ziyi’s getting down and dirty on a beach (she was only sunbathing, what were you thinking?) that we forgot to bid? Wait a minute, what do you mean that took place this year and that I’m the only one still obsessing over it? Okay, let’s not get distracted and get back to the subject at hand: I must say I truly welcomed that piece of breaking news with open arms and even spent a good amount of time scrutinising Ziyi, er, I mean the COE.

Apart from this, prices of cars are also dropping faster than I can yell “Gross!” at the sight of fresh bird droppings on my imaginary windscreen. A quick check of news articles and ads from this site revealed that certain models are going at discounted prices of $10,000 or thereabouts off their usual!

All these seem to point to one question: to buy or not to buy? Should I throw caution to the wind or simply go with the flow?

Well, I suppose if I already own a big/luxury car but don’t actually require one, it makes economic sense for me to downgrade to a smaller vehicle since the latter is now more affordable. Downsizing in uncertain times could take some burden off the financial load (especially if I need to maintain a certain level of liquidity for ease of cash flow) – provided my loan’s not tied to a huge amortisation figure.

But if I were to be currently suffering from negative equity – thanks to the low COE prices, poor export value and low Parf rebate, then I may really need to hold my horses. Add to the fact that should the recession turn out to be long-drawn, the worst case scenario could see people losing their jobs, have their car repossessed by financiers and/or be made bankrupt. These could serve as reasons enough for one to think twice in view of the draw.

Of course, there are two sides to a coin and the current low prices probably work in the favour of those with different needs or financial standing.

While financial difficulties would be most felt by those in the upper echelons of society with investments worldwide, a good portion of local white collar workers is actually less exposed to the risks and able to afford a car at a good price. However, while this could serve as be good news for those planning to set up a family, individuals should still weigh their options and assess where their monies could be better used/investment as a car is – and will always be – a financial liability in Singapore’s context.

So the moral of the story is, one should seize the chance to buy what you need and can afford and stand up against temptation if - after doing your Maths - all stars are pointing in the opposite direction.

Whew, all these car-acquiring analysis is making me giddy. I need to go for a spin to freshen up.

In her own world, Linda Lee is a prolific logophile who, according to some of her friends, texts SMSes in cryptic codes that puts Da Vinci to shame. In reality, the scribe is just another typical Singaporean who could have, in serendipitous circumstances, came into contact with you – butt, armpit and all - while taking the sardine-packed MRT to work during rush hour. When she’s not busy waxing nonsensical, she spends her free time trying to perfect childish impersonations of Japanese anime, Ponyo On The Cliff By The Sea. Look out for more articles from www.st701.com - (Guides & Articles).