I’m a 30-something guy who’s been hankering after a fancy sedan such as a BMW ever since entering the workforce. There’s that special allure that comes with continental cars - the heady smell of leather, the seats that engulf you, that satisfying full-bodied thump when you close its doors, and that smooth ride associated with cars of heft and power.

So I decided to look up the price online of a BMW 3 Series. It’s $178,800.

I gulp a little. Do I have to bite this expensive bullet to keep my dream of travelling in a BMW alive?

I’ve been using Grab for some time, and one night, while booking a JustGrab, I got this:

Counting my lucky stars, I hopped on and told the nice chap “Wah I’m damn heng tonight kena such a nice car”.

He laughed and told me that actually there’s a service called GrabCar Premium, and its fares start at $7.5 - which is not far off from the base rate of $5 for JustGrab rides. The driver also shared that this service has a fleet of cars from BMW, Mercedes Benz and Audi.

This got me thinking. Will it actually be cheaper to book a GrabCar Premium ride everyday compared to owning a BMW?

So, I take out my calculator and start computing.

First, let's look at owning a BMW. For the sake of an easier comparison, I’ve decided to calculate the amount I would need to pay per month - after the 40% down payment of $71,520, that is.

$2,394.71 is the golden number to beat.

Can GrabCar Premium do better?

Essentially, the price difference is approximately $2,300/month to buy versus $1,500/month to book. GrabCar Premium comes with a chauffeur and I get the bonus of riding in various luxury cars.

I would be lying if I said I won't miss the convenience that comes with having a car that is just there physically waiting for you to drive it. Or the thrill of being the one behind the wheel.

But being driven around has it perks, especially when I'm not the one driving in a jam or when I'm dead tired. Also I won't have to worry about surprise expenses when it comes to car maintenance.

Both approaches have their ups and downs but at least I know which one makes economical sense.

And as the missus always says ‘It is most shiok to be driven around.’

For more detailed information (which hasn’t been covered by my beautiful tables), visit Grab.

 This sponsored post opens the eyes of Mothership.sg’s writers to the wonders of GrabCar Premium, which is why we’ve started to take it to work every day.

Top image by Dushan Hanuska