The cost of owning a car goes for as long as you own the vehicle. The upfront payment of a car is just the beginning of your expenses.

Apart from that you have to factor in loan financing, road tax, motor insurance, fuel consumption, maintenance costs, and depreciation as some of the hidden costs such as repairing a car.

Last year, the total number of vehicles ownership in Singapore, led by cars, has dropped for third consecutive year.

According to statistics released by the Land Transport Authority, the private car population fell by 4% to 552,427 – the lowest in eight years.

Observers attribute the fall to a clawback of Certificates of Entitlement (COEs) in the early 2010 to correct an earlier oversupply.

While in Malaysia, according to the Malaysian Automotive Association (MAA), in the same year, the sales of new passenger cars alone totalled at 514,545.

South East Asia …