Singapore is notorious for having expensive cars. With the average cost of cars hovering around S$106,000 in 2017, cars in Singapore are 4-5x more expensive than cars in the US or Korea. In fact, Singapore’s car price is the highest in the world. This poses an interesting question: is using ride-hailing services like Uber and Grab actually cheaper than owning a car in Singapore? According to the analysis conducted by our team at ValuePenguin, the cost of using Uber every day is quite comparable to owning and driving a car. Owning a Car = Riding on Grab or Uber = S$15,000 to S$16,000 of Cost Per Year On average, it costs about S$15,000 to S$16,000 to either drive a car or use ride-sharing services everyday for a year. However, when you take into account other miscellaneous costs like parking & various incentive programs introduced by Grab & Uber, using ride-hailing apps everyday is actually ......