Should I Buy a Car?

Answer 6 quick questions about your lifestyle and finances. We will tell you whether car ownership makes sense in Singapore — and how much it would really cost.

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What is your monthly household income?

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Is Car Ownership Worth It in Singapore?

Singapore is consistently ranked among the most expensive places in the world to own a car. The COE system, Additional Registration Fee, and high running costs mean that car ownership is a major financial commitment — often the second largest after housing.

This quiz helps you weigh the convenience of having a car against the real financial cost. It considers your income, commute pattern, family situation, and lifestyle preferences to give an honest recommendation. For those who decide to proceed, our suite of calculators can help you budget the exact costs involved.

Frequently Asked Questions

How much does the average Singaporean spend on a car per month?
Including loan repayment, insurance, road tax, petrol, parking, and maintenance, most car owners in Singapore spend between S$1,500 and S$2,500 per month. Use the total cost calculator for a personalised estimate.
What are the alternatives to car ownership in Singapore?
Singapore has extensive public transport (MRT and buses), affordable ride-hailing (Grab, Gojek, Tada), car-sharing services (BlueSG, GetGo), and rental options. Many households find a combination of these covers 90% of their transport needs at a fraction of the cost.
When does buying a car make financial sense?
Car ownership typically makes sense when you drive frequently (10,000+ km/year), have family commitments that require a car (young children, elderly dependents), or live in areas with limited public transport. The quiz factors in your specific situation to give a tailored recommendation.
Is it cheaper to buy a new or used car in Singapore?
Used cars have lower purchase prices but shorter remaining COE tenure, which affects the cost-per-year calculation. A 5-year-old car at half the price of a new one is not necessarily cheaper per year once you account for the remaining COE period, higher maintenance, and lower PARF rebate.

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Calculators

Estimate every cost of car ownership

Results Archive

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Price Trends

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What is COE?

Complete beginner guide

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