Buying car

Buying a car in Singapore is a significant financial commitment, with various costs like the Certificate of Entitlement (COE), road tax, insurance, and regular maintenance.

For families, larger vehicles like SUVs or MPVs provide more space and comfort but come with higher running costs. For singles, smaller cars are more economical and easier to manage, but not much value add. Hidden costs, such as parking fees, ERP, and car depreciation, also add up.
Opting for a second-hand car can reduce upfront costs, especially since new cars depreciate rapidly in Singapore. However, while used cars are cheaper, they may come with higher maintenance needs, taxes and unexpected repairs, particularly if they’re older. The Vehicle Emission Scheme also affect second-hand cars, depending on their emissions profile, which could impact rebates or surcharges.
For family use, reliability and safety should be prioritized, while singles might focus on fuel efficiency and lower operating costs. Second-hand cars offer savings but require careful assessment to avoid costly surprises down the road. Use vicom or other big reliable paid 3rd party company to help assess the car.