True Cost of Owning and Running a New Car

Oneshift Editorial Team
19 Jan 2015

It's no secret that owning a car in Singapore is expensive, and recent changes to the laws and policies of car ownership have made this dream more difficult to achieve. We break down and reveal the shocking the costs of owning and running a mid-range sedan for a period of 10 years.

Example: Hyundai Sonata 2.0 MPi

Price: $139,999

The Hyundai Sonata is one of our favourite mid-sized family sedans on the market, it’s well-priced, well-equipped, and will take on the role of a family-runabout well. Therefore, we will base our calculations on the cost of a brand-new 2015 Hyundai Sonata 2.0 MPi, priced at $139,999. Assuming a 50% 5-year loan is taken and no other special financing deals are provided (which is usually not the case), and that the car will be driven for 10 years.

We have used our very own Oneshift Car Loan Calculator to make the make these calculations.

Moreover, this does not factor in the other costs such as ERPs, fines, punctures, other parking expenses, and accidents. Also, fluctuations in fuel prices or possible policy shifts such as changes in road taxes would also change the overall ownership cost.

While the purchase of a car and its monthly loan repayment is something that you might be able to manage, but the high cost to upkeep the car is a major consideration a prospective car owner needs to consider.

Owning a car in Singapore isn't impossible but does require more financial determination compared to other countries. But prudent financial planning and keeping one foot on reality will be helpful to anyone looking to realise their motoring dreams. 

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


Best offer with no obligations.
Start Now!

Justin had followed up with me closely on the transaction. I gotten a patient dealer who explained to me on the condition of my car despite some wear and tear problems.

Firdous Begam - 20 hours ago

A very good platform to sell your car. Service is excellent. No hassle. fast and easy. Thank you SwiftQuote

Liew Chin Leong - 4 days ago

Received speedy replies from the Dealer in regards of responding time and also my inquiries which was solved within a day!

Doreen Wee - 5 days ago

Well done! Very efficient and clear cut from providing best bid till purchase agreement was signed. Fee charge is reasonable! Would definitely recommend friends and relatives if they are selling their cars!

Seet Lee Lian - 6 days ago

My dealing with the successful bidder was professionally conducted. Dealer was pleasant and conducted himself well and promptly in all our dealings. I am very pleased with the whole transaction and the outcome. Thank you and warm regards, Boon

Tan Boon Hua - 1 week ago

Very smooth process . Great experience!

Anuj Kumar Garg - 1 week ago

Its a great experience using SwiftQuote. Really fast and effective. Once submitted, revert within a day with ready quote and even the link up process has been really smooth. What is even more amazing, its FREE!!! Thank you Team @SwiftQuote! Sold car in less than 5 days.

Oh Tze Beng - 1 week ago

Swiftquote enabled me to sell my car at a good price, with a very little effort being required on my part. I would recommend the service to others!

Andrew McIntosh Soutar - 1 week ago

Responsive and efficient!

Chong Kwong Liong Kaspar - 1 week ago