Ultimate Car Buying Guide

Oneshift Editorial Team
8 Oct 2013
 

Getting Started

So you’ve had enough of waiting for taxis and being squeezed on the train next to people who don’t exactly smell great. So you’ve decided to bite the bullet and buy yourself a car. What’s next? We’re going to illustrate to you roughly how much it’ll cost per month to upkeep a basic entry-level car so as to help you settle down with the ownership of a car.

 

Buying a normal car

After spending a fair amount of time looking around, we discovered that the most affordable car you can buy in the market today sets you back about $100,000. Based on current legislation, you can only loan a maximum of 60% of the selling price of the car, for a maximum tenure of 5 years.

This means you’ll need to have $40,000 in cash to make the down payment. And for this illustration, we’re going to assume that you don’t pay a single cent of interest. Therefore, your $60,000 loan over 5 years would come out to $1000/month.

Unless you live in a privatised home, season parking is going to set you back a minimum of $65/month. Let’s not forget insurance at around $100/month and road tax at $50/month. And what’s the point of owning a car if you don’t use it? Assuming one drives about 30km/day, which works out to about 900km per month, your petrol bill would probably be around $150/month based on an average fuel economy of 12km/L. And lets not forget about ERP and parking. Working in the Central Business District (CBD)? Expect parking to cost upwards of $200/month. And ERP can cost easily up to $4/day. But to average it out against those who do not work in the CBD and have free parking at work, let’s say that ERP and additional work/leisure parking works out to a conservative $4/day or $120/month.

So at this point, we’re at around the $1500/month mark to own and operate a brand new entry-level vehicle in Singapore. Add in other real world extras such as regular vehicle maintenance, interest on auto loan, parking fines, and one should be prepared to shell out close to $20,000 per year to own the most affordable brand new car in Singapore.

 


Sell Fast With Ease - SwiftQuote

With SwiftQuote, you get:
  Best value for your car    A peace of mind when selling    Fast sale from start to end

HIGHEST PRICE FOR YOUR CAR

Best offer with no obligations.
Start Now!

I just sold my car via SwiftQuote. and manage to sell it at the higher price compare with other car dealer. I would like to thank Justin for the great follow up and advice. Thank You Justin.

Tng Poh Chuan - 3 days ago

Quick, fuss free.. get better value than trade-in your car to the dealer. All you need is just 3 mins to submit your request and SwiftQuote will help you to get the highest bidder.

Widodo Suwita - 5 days ago

Dear SwiftQuote I received the best quote from you guys within 24 hours. Despite my hesitation the price after 10 days was the same. The follow up was professional and personalised. Congratulations,will not hesitate to recommend to friends Keep it up.

Vic HHTng - 6 days ago

Quick and easy to submit my vehicle details, I received a very good quote from the dealer.

Alexander Lau - 1 week ago

Justin has been very friendly and helpful. His great service in accommodating the transaction for both me and the dealer went smooth and fast for me.

Aaron Chew Khee Chye - 1 week ago

Selling my car by registering at SwiftQuote is very convenient and received a quote in short period with higher bidding price. It is a great service.

Hla Myo Aung - 1 week ago

I sold my car with relative ease through SwiftQuote at the best price. Justin was very prompt to come back to me with the best quote and there is no hassle. Great service and follow up. Overall experience was great. Well done and thumbs-up!

Lee Sin Guan - 1 week ago

Excellent service provided by Justin. I'm served by an honest dealer. Will definitely recommend SwiftQuote to my friends!

Dragon Gail Anne - 2 weeks ago

Competitive price offered by dealer. Didn't knew that everything can go so smoothly without hiccups. All my things were sorted out within a week!

Evan Kok - 2 weeks ago