Buying a spiffy new ride in Singapore is about the worst “investment” decision you can possibly make. Budget Babe does the math to explain why you should give car ownership a miss.

Words by Budget Babe — This post is inspired by one of my readers, who mentioned that he regretted buying his vehicle. I’ve never had any desire to own my own ride, but Terence’s comment prompted me to investigate the hidden costs of owning a car in Singapore, which I think many people do not fully consider when they say they want to buy a car. Take my boyfriend for instance. He really wants to buy a car, and he keeps telling me that he can get a used model for just over $20,000. But I know the actual costs are going to be a lot more than that, because:

1. The COE in Singapore is dreadfully expensive

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