Car Ownership in Singapore – What’s the Cost?

Car ownership in Singapore involves a huge financial expense, probably the highest in the world. Therefore a frequently asked question is how much dough do drivers in Singapore have to sacrifice in order to own a car.

Here are some factors to consideration before getting yourself into the financial commitment of car ownership:

1. Loan Installment

2. Motor Insurance

3. Road Tax

4. Fuel

5. Parking

6. Servicing

7. Electronic Road Pricing

8. Cleaning & Car Grooming

9. Inspections

10. Others (eg, Radio License, occasional fines, etc)

And all these add up to around $1,000++ per month, depending mainly on your loan installment. In the next post in the coming days, I’ll touch how much each of these categories really cost.

Till then, drive safely.

Click here to return from Car Ownership in Singapore to Motor Insurance Singapore Home

Friends Who Read the Above Article Also Read:

1. AXA Insurance – Summary of Main Benefits (Authorized Workshops)
2. Liberty Insurance – Summary of Main Benefits (Authorized Workshops)
3. NTUC (Drivo Classic) – Summary of Main Benefits (Authorised Workshops)
4. MSIG – Summary of Main Benefits (Any Workshop)
5. Frequently Asked Questions (FAQ)

This entry was posted on Wednesday, April 8th, 2009 at 10:22 pm and is filed under Motoring Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.