Owning a car Singapore may seem common to locals, but did you know that cars in Singapore are priced at least 2 times higher than around the world? Being a car owner in Singapore comes at a great cost – Certificates of Entitlement (COE), high parking rates, restrictions on car modifications and stringent traffic regulations. We understand the pain of paying close to 100 grand or more for just 10 years of car ownership in Singapore. Which is why we are sharing with you these 3 tips on owning a car in Singapore.
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1. Choosing the right car
Driving in an urban landscape is never easy, coupled with the soaring prices, choose wisely to get the right car for your transportation needs. A sedan is perfect for a family of 4 or 5, so is a crossover for those who like big cars. An SUV is great for a big family, and hatchbacks are great for those who worry about parking in Singapore.
Here’s a list of what you need to know before choosing the right car: http://www.caranddriver.com/features/whats-the-right-new-vehicle-for-me
Got the need for speed? Think again. Speed cameras are everywhere.
2. Know your budget
Unless you are capable and willing to splash over 100 grand cash on your car, you need to know your budget. Check out the car loan interest rates with your local car dealers before you start planning. Apart from the Open Market Value (OMV) of your chosen car, other factors like the COE, GST (goods and services tax) and ARF (additional registration fee) applies to the cost of your car, not forgetting your dealer’s margins.
Click here to find out more about how the price of your car is calculated.
Click here for updated COE prices.
Cars are a luxury, taking public transport saves both money and the environment!
3. Maintaining your car
Regardless if you are a car modification enthusiast or just a diligent car owner who takes great care of your car, maintenance is a big part of car ownership. Go back to your local car dealers for the most trustworthy, authentic car parts and accessories. For a more economical alternative, some suggest heading to Johor Bahru for cheap car parts and accessories. Thanks to our media sites at the Jalan Besar district, we have found some workshops and megamarts that you can find trustworthy goods and services at a lower cost. Places like Concorde Auto Accessories, Lian Siong Corporation, Kam Auto Mart and even Mustafa Centre are the bigger retailers for car accessories.
Do plan ahead if you are considering getting a car in Singapore as they don’t come cheap. Taking the public transport is also a good alternative, saving both money and the environment. Also, don’t forget to keep yourself updated on the traffic regulations in Singapore. Drive safe!