Are you spending more on your car than you need to be? Or are you looking for ways to cut down on your car-related expenses? We’ve compiled a list of the top mistakes car-owners in Singapore are making that cost them real dollars every day.

1. Paying high-interest rates on your car loan

Because cars are so expensive in Singapore, most prospective car owners finance their car purchase by getting a car loan, and then face the prospect of paying off that debt, plus interest, for the better part of the next 10 years. But did you know that you could save big by refinancing your car loan at a lower interest rate? For example, our study on the best car loans in Singapore found that you could save over S$3,000 by refinancing a S$70,000 5-year car loan taken out at an interest rate of 2.78% with OCBC’s Refinancing Loan at a 2.08% …