Why used cars are so expensive?

read up on COE by LTA, which is a 10 year permit for cars .. you will get an idea why the cars are expensive here ..

New year .. hence my laziness.

If I pick up the mood, I will roll it out for you .. in detail.

Certificate of Entitlement - Wikipedia, the free encyclopedia

Cheers

Govt rightly limits car use. They do this by limiting the number of cars on the road by requiring that each have a COE. COE's are limited and you get one if you bid in open auction for one. So demand and limited supply meets at a price - currently circa $40,000 for a 10 year COE. Add the price of the car on top and you get car prices in Singapore.

If you ask me it's extremely sensible. Otherwise the place would be chaos with loads of cars. Even with these controls it's busy.

Hi Kelvin,

have you tried looking up Singapore No.1 Car Site for New Car & Used Cars - sgCarMart
The cost of car usage average about $1,200~$1,500 a month.
if u get a 5 year old car you depreciation would be about $600 a month ex other expenses like insurance, petrol, servicing, and car parks.

Remember also that when you give up your car after a year, you do get back some values too.

Best
TechnoWriter

kelvin.sg said:

Hi guys,

I just arrived in Singapore. I am here for a year. I would like to buy used car and found it's too expensive. I can buy new car for the same price in NJ.

I talked to my colleagues here and found out that there is no cheap used car. Any comments?

My house is far from public transport and other transportation. Please help! Thanks.



Kelvin...


PS: I have same problem and took the same thread from other forums and there was no reply.

Click to expand...

yesss.. agree with all that is said.. cars are ex.. and even if you managed to get a low price vehicle , the amount of maintenace and petrol would be about 1K per month (Road Tax / insurance / loan / petrol ) ... not forgetting ERP ( if the route you travel to work has ERP gantry )

Re :

Used cars are expensive some times, since it would have been well maintained. I bought a well maintained used car recently from Acar2go dealers at acar2go.co.uk It is really worth buying.

My family will be moving into Singapore next month. I am really interested to know more about owning a car in Singapore. What is COE? Is it compulsory to pay and is it applicable to everyone? Any exemptions for expats and what other hidden costs to look out for.

LSJ: Take a look at ONE.MOTORING - Home - all info there ..

And also Certificate of Entitlement - Wikipedia, the free encyclopedia

Yes, many a times we find that used cars are more expensive when we take car on rent. I took a 3yrs old used car for backpacker insurance. That cost me almost half the whole trip.

COE means Certificate of Entitlement