App works out cost of owning a car

Audrey Tan and Lee Min Xuan are the co-founders of Playmoolah, which WhyMoolah is a part of.

SINGAPORE - Buying a car is a big decision, and an expensive one.

WhyMoolah, a real-life financial simulation app, helps users calculate the total cost of car ownership.

Using its recently released feature called Car Lifecard, potential car buyers can choose from various brands and calculate monthly repayments based on the cost of the car, loan, interest and the repayment period.

WhyMoolah is backed by DBS Remix and is part of the financial literacy start-up PlayMoolah.

The app can be used on Apple phones and tablets and on Android-powered devices.

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