Buying a car in Singapore is easy. Most brand cars are available in Singapore, however, not at the prices you're used to. At the time of this writing (2007), the price of cars has come down considerably, however these prices fluctuate continuously because of COE's. If you're looking for a new car, you would have to go through the official dealer or import a car from overseas. Too many to list here, every dealer can be found in the telephone directory, yellow pages and internet.
The best way to go about looking for a second-hand car in Singapore is through the classified advertisements in the local newspapers. For a good overview of used cars in Singapore, we recommend the Saturday edition of the Straits Times. There are always hundreds of cars for sale in these ads, virtually every brand and in all sorts of conditions. When you browse through the ads, make sure you do your calculations in terms of depreciation. Make sure you check the validity of the existing COE and how much it would cost to renew the COE, if it runs out next year.
Example; if the car is less than 10 years old, there is an OMV value, which you can retain if you decide to scrap the car at the expiring date of the COE. For instance, a $80,000 car with a $32,000 OMV and 2 years left of COE will cost you $80,000 - $320,00 = $48,000 / 2 = $24,000 per year. You can then decide to scrap the car, or renew the COE at it's going rate at that time.
Alternatively, you can look at the many Singapore online used car directories or even the local supermarket's 'bulletin board' where expatriates leaving the country sometimes put an ad up. A search on the web will give you hundreds of recent ads.
If you want to browse and touch-and-feel there are several used car dealers with the biggest collection of them probably at Turf City.
So how much does it cost to own a car in Singapore? It depends on the brand, value and COE rate, but the following is a good example:
You can buy a 10-year old Honda Civic with a new 5-year COE for S$35,000. Add to that the road tax and insurance, and you can drive your own car for around S$1,000,- per month.
Do you need more info? Leave a message on our expat message board!
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