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