Personal Finance
How Much Could You Actually Save by Not Owning a Car?
By ValueChampion  •  October 3, 2018

Owning a car in Singapore is very expensive. For example, most sedans cost about 4 to 5 times more in Singapore than in the United States or Korea. Due to these high costs Singaporeans have reduced their reliance on driving and it has even become "fashionable" to not own a car. Instead, individuals can take advantage of the availability of ride-sharing, public transportation and other types of transportation such as bicycles and scooters. With that said, how much could you actually save by avoiding driving completely?

How Much Does it Cost to Own a Car in Singapore?

We estimate that the total annual cost of owning and driving a car in Singapore is approximately S$15,127. To calculate the this figure we added the purchase price of the vehicle, annual car insurance premium, annual maintenance costs, road tax and cost of petrol. However, we did not account

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By ValueChampion
We distill sprawling marketplaces—for insurance, credit cards, bank accounts, and more—down to choices that represent a sweet spot for value—as in offering the features, returns, or experience we think you need for the smallest outlay. We ask: Is the return on a particular purchase or decision worth the cost or risk of that option, and how does the choice stack up against other options?
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