I’ve never aspired to own a car in Singapore
Since young, I have been told by my teachers that a car is a depreciating asset. Besides road tax, parking fees, ERP and petrol/electrical costs, it needs regular maintenance and will require repairs at one point or another. It is recommended not to spend more than 20% of one’s disposable income on car expenses. Although owning a car provides convenience (especially if one is laden with shopping or has young children or family members with mobility issues or want to do a roadtrip up north to Malaysia) and can be a form of status symbol to signal that one has arrived, it is a liability rather than an asset.
In Singapore, car ownership is intentionally expensive because the government does not wish land-scarce Singapore to devolve into a city plagued by lung-damaging air pollution and bumper-to-bumper traffic jams is an everyday occurence. To achieve this, besides raising the costs of owning a car substantially and constantly fine-tuning the road pricing system, it also set out to develop an affordable world-class public transport system. For the masses, giving up their personal desire for a car for a cleaner and greener Singapore is more palatable when there is a cheaper and reliable alternative.
Singapore has succeeded admirably in that respect. It is a testament to the high frequency of trains and buses that Singapore residents don’t have to refer to timetables to plan their journeys unlike their counterparts overseas. However, it is not resting on its laurels. It is continuing to expand the MRT network to improve travelling time and provide a seamless connection from one part of the main island to another.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Lin Lau Peh : effectively one does not own the car. Owners paying rent to gov to use the car for 10 years then get a token back.
tanvi : The public transport in SG is so convenient already. It is not worth to own a car.
Just rent a car if you want to travel in Malaysia.
Dadacai OP Lin Lau Peh : Well said!
Dadacai OP tanvi : Good suggestion![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")