Getting a car $$$ ???

[TS]

With 2 kids, and the intention to spend weekends in Malaysia, I think we'll need to look at getting a car. I think we'll be in Singapore for 5+ years so it's not exactly a short term deal.

I can't seem to find a comprehensive website explaining all of the options and I know that buying a car in Singapore isn't exactly easy or cheap (COE, depreciation, taxes etc.).

I'm not looking for a luxury car just something practical but fairly new (Toyota, Nissan, Hyundai etc.) Can someone explain the annual costs involved in buying, leasing, or renting????

Thanks.

[new here2]

Hello, we have been here for about 3 1/2 weeks now. We just purchased a new car. It seats 7 so I can carpool or have enough space for when people visit. We took out a five year loan as that is how long we plan on being here. It will cost us $1565 a month including purchase price, COE, registration, radio license, number plates, road tax and insurance. I found the dealership to be very helpful in explaining all of the charges.

Best of luck

[GuestUser]

Check out this website:

http://www.onemotoring.com.sg/publish/o ... _cost.html

It gives you all the details about buying cars, bidding for COE (the dealer can do it on your behalf), breakdown of car costs, etc.

[CarLover]

Hi there,

the first thing you should know about buying a car in Singapore is that it can be complicated.

The cost of a car comprises:

- the import value (or Open Market Value, OMV)
- import duty (20%)
- Additional Registration Fee (110%)
- GST (5%)
- COE (variable, now at around $20k or so)
- local accessory installation, number plates, etc.
- dealer mark-up

Cars less than 10 years old have a residual value which is directly related to the OMV and COE values for that particular car.

The tax regime change twice in recent years. Once in 2002 when the authorities changed the formula used to calculate the residual value and once more in 2004 when they lowered it again. Therefore, it is possible to have a car registered in May 2002 or earlier that is worth more than one registered after!

Most new dealers are trustworthy, just beware of the hard-core salesman that still exists, as they do in any country.

Pre-owned dealers are another cup of tea... there's not enough space here to adequately talk about them.

I'd say overall, the first thing you need to do is to understand your needs carefully in relation to local conditions, then look for some local advice, before signing anything. If you need further advice, why not post another message with your email address and I'll be in touch. Alternatively, you can post any specific questions here and I'll do my best...

Till then, take it easy and good luck!

[jivintan]

TS,

depending on your actual needs, leasing can be better alternative where you do not need to worry about servicing, maintenance, renewal of insurance and road tax and has no transport if your vehicle breaks down.

Rgs
Jivin Tan

[KC]

I am selling my landrover. wonder if u re interested

[Guest]

I am selling my landrover. wonder if u re interested

PLEASE CALL ME 90010940