Singapore Car Ownership

Singapore Car Ownership

Details accurate as of 29 February 2008

For those of you thinking getting your own ride but a little clueless at the cost of maintaining one, I hope this post helps a little. The information might go outdated very fast, but the saying shall remain: “Buying a car is easy, it’s the maintaining that kills you”.

Cost to own a car = (A) + (B) + (C)

(A) Sunk Cost:
Season parking (open-air) .............. S$65 /month
ERP / Cashcard* ............................ S$50 /month
Petrol (unleaded 95)* .................... S$250 /month
Servicing** ................................... S$90 - $300 /10,000 km

*indicates fluctuations based on usage rate
**indicates dependent on servicing program and the extend of wear ’n tear


(B) Monthly Car Installments*
[(Value of Car - initial downpayment)/120 months] + Bank Interest** + many other crap

*Based on a 10 year loan;
**Depending on which Bank.

E.g. A S$53,688 Mazda 3 (1.6 auto) is asking for S$517 /mth on http://www.sgcarmart.com/


(C) Based on a 1,600cc car…
Insurance (1st time) ......... S$1,700 /year
Road Tax ........................ S$874 /year


Formula to calculate your 6-monthly Road Tax
(For engine capacity 1,000cc – 1,600cc only):

[$250 + 0.375 (Engine Capacity – 1,000)] x 0.92

E.g. A 1,500cc Toyota Vios will pay S$402.50 road tax every 6-months; so its 2 x S$402.50 = S$805 yearly.

Tip: From July 2008 onwards, road tax will drop by 15%, hence the new formula for calculating your 6-months road tax for the 1,000cc – 1,600cc category:

[$250 + 0.375 (Engine Capacity – 1,000)] x 0.782


WHAT'S GOOD?
Below are some of my personal preference (in order of preference) which I think suits young working adults; doesn't go too hard on the pocket, fuel-economy, and gives a sporty image.

For detailed pricing and specificaions, please proceed to the following sites:
sgCarMart.com
Carma.com.sg


SUZUKI SWIFT 1.3 (A) S$50,900 @ S$491 /mth
SUZUKI SWIFT SPORT 2007 1.6 (A) S$65,000 @ S$626 /mth


MAZDA 3 1.6 (A) S$53,688 @ S$517 /mth

HONDA JAZZ 1.4 (A) S$59,000 @ S$569 /mth

DAIHATSU TERIOS 1.5 (2WD) (M) S$56,300 @ S$543 /mth
TOYOTA YARIS 1.5 E (A) S$56,388 @ S$543 /mth

NISSAN MARCH 1.4 Comfort (A) S$55,500 @ S$535 /mth
SUBARU R1 (658 cc) (A) S$47,888 @ S$462 /mth
TOYOTA VIOS 1.5 E (A) S$53,388 @ S$515 /mth



FAILED
I was so fed up with Mitsubishi's website. It suxs!

MITSUBISHI COLT 1.5 Elegance (A) S$57,988 @ S$559 /mth
Fancy any ride?