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Own a car affordably in Sinkieland, no COE


Some bros have been KPKB about the high cost of car ownership in Singapore. Yes, its true, its not cheap. But Singkies are too stipid to use their brain. What if I told you that you can own a car for the cost of about $700 a month, all in. In some cases, less. I am talking about actual ownership, not lease or rent. This cost is comparable to many western countries.

First, let's look at the approximate cost of car ownership in Singapore for a new vehicle. As you all know, Cat A car is likely to be in the $100K -150K range, plus say another $65K -$80K COE, then ARF, road tax etc. You are looking at $200K -$225K. Plus you have to pay interest on the car loan, assume its 5 years. That is another $20-30K easily. All in, you could be looking at $250,000K a year for 10 years to own a new Cat A car. So, $2000 + a month, for 120 months, when COE and car loan interest is straightline depreciated and factored in.

If you go to SGcarmart now, and search cars under $10K, surprise you will find lots of them. 133 to be exact. You can see a Kia Cerrato Forte 1.6, asking for $9,900. The COE runs until Sept 2024. So, basically, you have 9 months left on the COE. Mileage is 172K, which is not a lot for a 10 year old car. Of course, you can bargain the price down. Maybe get it down to $9K. At the end of the 9 months, you can bring it to a a scrap car dealer or a car exporter and still get the body value for it. Usually, for this type of cars, maybe you can get $1k for the body value, sometimes more depending on the model. Plus there will be some residual ARF refunded to you too. Normally a few hundred dollars. In most cases, the road tax is already paid for the rest of the 10 year life of the car. In the case of this car, the road tax is paid till June. So, u have to top up another 3 months which is about $300. Therefore, for this 9 months that you use it, the cost of ownership is approximately $7800, or $867/ month.

Of course, there are other cars cheaper then this listed. And also luxury cars like 2004 Merc E320 with only 165000 km COE good until Aug 2024 asking for $9800. It's a classic W211 Avantgarde Merc for that year. This car is actually listed now. For this kind of price, most people have the money in their bank account to buy it. No car loan needed.

For me, I love cars. So, I have a chance to drive a different car every year. Sometimes, 2 cars. LOL. I have one car that I own since new. I have these other cars that I buy cheap. Some people think its laychay to change cars every year. I have no problem with this and enjoy driving different cars. If you want to save some decent money, it will take some work. If people are too lazy to do it, that is their business. Some people say these old cars will break down and cost you money to maintain. I find this has not been the case. I was an armour officer for many years, so I am comfortable checking out a vehicle. I know what to look for. Usually, I stay with Japanese or Korean models, and avoid continental models unless the car intrigues me. Also, I avoid American models. The good thing about Singapore used cars is that Singapore drivers keep their cars in very good shape, and well maintained. The oil change is always done. Many of these older cars, I don't even see a dent in them. And the mileage is low too. In almost 100% of the time, the mileage is under 200K, which for a used car like a Honda or Toyota, it's nothing. Even for a Mercs, its not even breaking the car in. And lastly, remember you are only going to own the car for a few months. If you own to for 5 years, then it's a different matter. You might have maintenance issues like timing belt changes and what not. But it wouldn't have time to manifest itself.

I also find the best part is that if I have to leave town for 1 month or more, I just make sure the COE expires before I leave and so, I am not wasting the money while the car sits idle. For those who buy new cars, if they leave town for 1 or 2 months, they still have to pay car loan. COE depreciation, and Vehicle depreciation over the time they are not in Singapore. I also used these older vehicles to help out an older cousin who had fallen on bad times. He was laid off and unemployed for a long time. He took the test, and I bought him one of these cars, so he can be a Grab driver. He drove it for a few months and made decent money doing it.

Hope this helps bros here think out of the box.

Moi think out of box and decide to leave the box. I went germany and many cars chip chip chip chip


If you do this better stick to Toyota only. COE German, conti or Korean car you will end up paying much more at workshops.


Alfrescian (InfP) - Comp
Generous Asset
If you do this better stick to Toyota only. COE German, conti or Korean car you will end up paying much more at workshops.
2 things. I was armour, so I do know something about vehicles and how to look at it. U can always bring a mechanic along when u inspecting it. And 2, u will only be driving it for a few months. Max 1 years before u scrap it. Sinkies keep their cars in very good shape, even the old ones. As long as there is no major mechanical issues like problems with the transmission and engine, then it should be fine. I am prepared to live with any minor issues.