Beyond just the aesthetic of a car, there are heaps of things you need to know as a car owner. We’ve complied a 101 guide for anybody looking to purchase a car in Singapore.

Cost of having a car in Singapore

Getting a car in Singapore is really much more than paying for the price of the car, there are also other factors like:

  1. Parking – For HDB season parking it ranges from $65 – $185, Condo season parking varies
  2. Petrol – $2.13 – $2.70 (At time of publication)
  3. Road Tax–Calculated based on
    1. Type of vehicle,
    2. Propellant
    3. Engine capacity
    4. Vehicle age

Payable every 6/12 months depending on your preference.

  1. Car Insurance–Varies based on
    1. Driver age
    2. Driving history
    3. Car value
  2. Vehicle inspections

Based on the age of the vehicle, you can go to Vicom to get  your vehicle tested, check out the table below to see when you need to send your vehicle for servicing

Type Of VehicleBelow 3 years3 to 10 years>10 years
Motorcycles & ScootersNilAnnuallyAnnually
MotorcarsNilBienniallyAnnually

Source: One Motoring

OMV, ARF, PARF and COE Rebates

Open Market Value (OMV) is determined by the Singapore Customs and is the price paid including purchase price, freight, insurance and all other charges related to the sale and delivery of the car to Singapore. To check on your vehicles OMV go here.

Additional Registration Fees (ARF) is a tax imposed on registration of the vehicle based on a percentage of the OMV. This sum is paid on purchase of your vehicle.

Preferential Additional Registration Fee (PARF) is a benefit given to a vehicle owner to de-register his vehicle before its COE expires. It is calculated based on the age of the car at de-registration and varies from 50 – 75% of the ARF.

Age at Deregistration (year)PARF Rebate 
(for cars registered with COEs obtained from May 2002 tender onwards)
Not exceeding 575% of ARF paid
Above 5 but not exceeding 670% of ARF paid
Above 6 but not exceeding 765% of ARF paid
Above 7 but not exceeding 860% of ARF paid
Above 8 but not exceeding 955% of ARF paid
Above 9 but not exceeding 1050% of ARF paid
Above 10Nil

Source: One Motoring

COE Rebates are given when a vehicle is deregistered before it’s COE expires calculated based on the remaining months and days to expiry. For more details take a look here.

Car Depreciation

The Certificate of Entitlement (COE) for a vehicle in Singapore lasts for 10 years. The depreciation of a vehicle here is very much tied to that. To find out the depreciation of your vehicle, just take the OMV of your vehicle and divide it by 10.

Car Workshops and Maintenance

One of the biggest problems with having a car, is maintaining it. Do you:

  1. Hear something strange when you tap your brakes?
  2. Have problems starting your car?
  3. Have tires that feel bald?

Get yourself down to a workshop and sort those problems out. Any malfunction on your brakes or problems with your tires can lead to potentially catastrophic accidents so it’s always best to play safe. The question then comes, where do we go to?

When buying a new car, generally the car will come with a warranty and a servicing package at the dealers or car manufacturer’s workshop, so for the first few years you won’t have to make any choices there. After your warranty ends, you can choose to continue going to your dealer/car manufacturer’s workshop or choose to find a new workshop. If you choose to, consider (*These workshops do not have affiliations with The New Savvy):

Huat Lee Batteries & Motor Service Pte Ltd

This workshop is priced so competitively they actually has Groupon-style Mega Deals on their website.

https://www.huatleeauto.sg/

Autobay@Kaki Bukit Hse 1
Kaki Bukit Ave 6, BLK C #01-65/66
S(417883)

Open
Mondays – Saturdays: 9.30am to 6.30pm

Contact
Phone   : 67475823, 67476477
Mobile  : 98307738

Optima Werkz

A preferred one stop service centre that can handle almost any brand you throw at them.

https://www.ow.sg/

6 Kung Chong Road, Singapore 159143
9A Serangoon North Avenue 5, Singapore 554500
551 Upper Thomson Road, Singapore 574415

Open
Mondays – Fridays: 8.30am to 5.30pm
Saturdays: 9am to 3pm

Contact
Tel: (+65) 6472 1313 (Kung Chong Road)
Tel: (+65) 6484 9919 (Serangoon North)
Tel: (+65) 6452 6868 (Upper Thomson)

Some petrol kiosks also provide routine maintenance service packages like oil changes, check out Shell.

When should I service my vehicle?

All problems aside, you should send your vehicle for servicing when

  • Every 10,000 km your vehicle travels
  • Every 6/12 months

Work you may need to do includes

  • Oil changes
  • Tire changes
  • Battery changes
  • Air Con regasing

If you’ve been involved in an accident, please make sure you go to a workshop that has been pre-approved by your insurance company. Call your insurance company before making your way to a workshop or getting your vehicle towed there.

For more information on owning a car, explore these car articles.

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C.E.O @ The New Savvy
Anna Haotanto is passionate about finance, education, women empowerment and children’s issues. Anna has been featured in CNBC, Forbes, The Straits Times, Business Insider, INC and The Peak Singapore. She was nominated and selected for FORTUNE Most Powerful Women conference in 2016 (Asia) and 2015 (San Francisco, Next Gen). Anna has 10 years of experience in the financial sector and is currently a Director in Tera Capital. Her previous work experience includes positions at Citigroup, United Overseas Bank, a regional role in Business Monitor and a boutique private equity firm based in Shanghai. She graduated from Singapore Management University (Finance and Quantitative Finance).