Is it really expensive to own a car in Singapore?

[bev_allen]

Hi everyone!

I will be flying from Georgia to Singapore next month and I am trying to find out on rougly how much would it cost to own a car? Do you think that I would be able to get a 2nd hand continental car with a $70K budget? or should I just lease one? I will be staying in Singapore for good and would need a car for business purposes.

Thanks everyone and I appreciate your help on this!

Beverly

[sundaymorningstaple]

Is that why you are posting from Missouri?

[matchbox]

hi bev_allen

I know a new volkwagon polo 1.4L will cost around or at least S$105k in singapore.... you can check out this website here...

www.sgcarmart.com/

[curiousgeorge]

What you need to know is that any vehicle requires a Certificate of Entitlement to be on the road in SG.

This is the way the SG gahmen keeps a lid on the number of vehicles clogging the streets (as well as electronic road pricing).

So, a new 1.8L car today will cost:

Car price
Additional registration fee (170% of the value of the car)
sales tax (7%)
COE - currently about $72,000!


So when you see a 2nd hand car for sale in SG, its price will be a combination of Open Market Value AND the remaining COE.

If you buy a 9 year old car, it could be dirt cheap, but unless you intend to trash it in a year, it will cost you another 60,000-72,000 to keep it on the road for another 10 years when the COE is up for renewal.

SGcarmart is the place to start your search.

BUT BEWARE: SG also has 'red plate'cars that are only permitted on the roads 7pm-7am and on weekends...the additional registration fee and COE are much lower, so the cars are much cheaper...but you can't use it during business hours! (Well you can buy a coupon to display for $20 a day or something, AFAIK). These are known as OPC or Off-Peak Cars.

Take a look at this article http://www.sgcarmart.com/news/writeup.php?AID=12

[ScoobyDoes]

What you need to know is that any vehicle requires a Certificate of Entitlement to be on the road in SG.

This is the way the SG gahmen keeps a lid on the number of vehicles clogging the streets (as well as electronic road pricing).

That's working very well then, isn't it?

They did it the wrong way here (of course) by putting in the CoE. In principle it can work but suddenly and overnight they elevated the car to a status symbol of wealth and the CoE an item that can be traded.

Great..... put an item that can be traded in a Chinese environment

Hong Kong has basically done it more correctly. Using Matchbox's example of the Polo, there a brand new one is HK$166,000 (RRP) that today is SG$25,660 at today's exchange rate.

At this price the car is not a status symbol - anybody CAN afford to buy one - hence public transport is more widely used in the territory.

The roads are not clogged up any more than Singapore's currently are and the thing governing there population is basically parking fees and the road tax in comparison to Singapore. Road tax on that Polo in HK is equivalent to SG$880 today whilst here it's $620. Doesn't sound like a big difference but it's basically 30% and I would say the other running costs such as fuel and insurance etc. may run with similar (or more) differences.

RON98 Super Unleaded in HK is ~SG$2.80/L compared to around SG$1.90/L here. In the end, then, you pay based on USAGE and this is more FAIR.

Sorry, went OT

[sundaymorningstaple]

Sorry, went OT

And what, may I ask, was a respectable person doing in OT?

Abbreviations with double meaning can get one into trouble, especially with the level of masters degree holders here.

[ScoobyDoes]

OP (Original Poster) = NG (New Guy) = OT(Off Topic) = DKOT

Doesn't Know OT (400 Orchard Road)....... YET = um, Yet



Anyway, you ah, too long in Singapore is it? Said 'went OT' not 'went TO OT'.... speak proper English my friend and it will save you some grief.

[boffenl]

YES, you can certainly afford a second hand car with a $70k budget. Check out sgcarmart.com and look around. I just sold my Mazda since it just got too expensive (gas is CRAZY here, parking and insurance fees are insane).

Good luck!

[sundaymorningstaple]

YES, you can certainly afford a second hand car with a $70k budget. Check out sgcarmart.com and look around. I just sold my Mazda since it just got too expensive (gas is CRAZY here, parking and insurance fees are insane).

Good luck!

You using CNG? or like me, still cannot get used to saying Petrol.

[boffenl]

Yeah, I debated writing gas/petrol but since he's a newbie from the US went with gas. Hey, we all have gas, right? Ah, it's Friday that's my only excuse. And I've been thinking about Tastycakes since the post earlier this morning. Pandan cake doesn't cut it.

[taxico]

i like using "gas." it's short. it's simple.

but i dislike being asked "what do you mean 'gas'?"

"petrol" also needs to be pronounced local style...

emphasis on the TROL instead of the PE...

[taxico]

emphasis on the TROL instead of the PE...

actually... i honestly don't know which is the correct pronunciation.

maybe that's why i i prefer "gas"

[nakatago]

emphasis on the TROL instead of the PE...

actually... i honestly don't know which is the correct pronunciation.

maybe that's why i i prefer "gas"

From wikipedia:

Gasoline ( /ˈgæsəliːn/), or petrol ( /ˈpɛtrəl/), is a toxic translucent, yellow-tinted liquid mixture, derived from petroleum, which is primarily used as a fuel in internal combustion engines.

...so no emphasis on either syllable and you just kinda roll from one syllable into the next...

[dani2012]

actually you can always have contacts of the local cab drivers, they are really good for your transport once you have about >10 contacts