Buying a car in Singapore could be a far-fetched dream for many locals, the government there is a big proponent of public transport and fewer vehicles. These are some of the reasons the island state has one of the highest car prices in the world.
Singapore has a policy for car ownership that includes bidding for a Certificate of Entitlement, limited in the release by the Ministry of Transport, COE grants the owner the legal right to register and drive their vehicle in Singapore for a period of 10 years. Hinged on demand and supply, the cost of COE fluctuates and affects the price of owning a car.
With the COE factor included, the cheapest car in Singapore today is the Malaysian-made Perodua Bezza by Perodua. While the model is priced at RM50,00 for the top variant and the entry-level model at RM35,000 in Malaysia, Singaporeans will be paying roughly S$115,999 for the 1.3 Premium X automatic version according to SGCarmart.
COE for Category A which the Bezza falls under is $90,589, the car price and other incidentals make the difference. On top of the purchase price, owners will have to pay $548 road tax per year which equates to RM1808.
So, the next time you’re in Singapore and sitting in a ride hailed vehicle which happened to be a Bezza, just remember before you judge the car or the driver, that he or she paid RM330 grand to own the car!
