Singapore car expenses-lease, COE, parking, congestion fees?

[lanzi]

Can someone please break down all of the expenses incurred with owning a car in Singapore?

How much would the lease on a small SUV- Honda CRV or the equivalent be?

Which of the expenses would be all inclusive with a car lease?

What are these so called "congestion fees" and how are they determined?

Thank you

[sundaymorningstaple]

Start Here:

http://www.onemotoring.com.sg/publish/o ... ng/en.html ,

here:

http://www.lta.gov.sg/ ,

and here:

http://www.spf.gov.sg/

If you have other questions after digesting all that is there we'll try to help.

sms

[denisb]

expect to pay three time what you aer paying in your own country.

SG is a small country, therefore the main city centre would be crowded with traffic.
further out of the city would be much better.

[sundaymorningstaple]

denis, from looking at your first 7 posts, I'd say you are only trying to get enough posts to use your PM function. Most of your posts are nonsense at best, and would seem to be only there for you to see your nick in print.

What is your post about here? The poster did not ask about places to live so why are you telling him "further out of the city would be much better"? Better for what? He's asking about the costs of vehicle ownership. e.g., road tax, ERP fees, COE prices, PARP fees, OMV costs, average parking fees, fuel costs, insurance costs and any other costs associated with owning & driving a motor vehicle.

[christay]

Hi.

It's not all about the absolute numbers. It's about how much you will spend on variable costs + how much you will lose over a specific period of time.

When you buy a new car, these are the major costs:

Import value of the car OMV
ARF 100% of OMV
Import Duty 20% of OMV
GST 7%
Dealer margin.
There are other incidentals like local accessories (leather, alloys, ERP IU, number plates, solar film etc.)

The above is academic. The only categories of people who would buy a brand new car over used are:

1) The company foots the bill so the loss is irrelevant
2) They haven't done their research on used car values
3) Have a strong aversion to used cars and are prepared to pay the premium
4) Have overestimated the disposal value based on the salesman's representations
5) Are afraid of used car dealers
6) Must buy a particular model that's so rare on the used car market.

I can make a sweeping generalisation here. If you want to keep your costs down, buy used. There are ways of mitigating the risks like independent professional checks etc.

There is a lot of information on how to buy a used car out there. Spend a bit of time now, save a lot of money later.

As for variable costs, these include insurance (which is climbing), road tax (which has gone down a lot), parking, ERP, maintenance.

The other major cost is interest which when quoted (eg 2.88%) is not the effective rate. And the effective rate is even higher if you terminate the loan early (eg, take a 7 year loan even though you intend to own it for 3 years).

Anyway, there are loads of helpful members here who will answer specific questions Good luck!

[Ashes]

Hi Lanzi,

This is some of the information for you. (Base on what I know)

To purchase a car:
- a min 10% of the car price is needed for down payment before you purchase.
- owning a vehicle is a liability in Singapore unless you use it for business usage. It is because you have to pay car tax & insurance annually, maintenance/services, monthly installments of the car and all the miscellaneous Electronic Road Pricing and parking fee in Singapore.

By the way, how long are you intended to stay in Singapore?

If you are going to stay just for a year or two, I will advise you to lease/rent a car instead.

Leasing/Renting a car

- You just have to pay an amount monthly and everything will be taken care of by the company that rent to you. It is much more hassle free. On top of that, you will get a replacement car if your car went for servicing.

For what I know, the price for leasing/renting of SUV varies on the capacity of the car. It can ranges from $1700 -$2500 for a SUV.
If for Honda CRV (2.4L), it will roughly cost maybe $2500. I don't know. Just a gauge. If you want, I can ask my friend for you. But basically that is it.

I don't understand what you mean by "congestion fees". Is it ERP?