(Updated on 7 Feb 2023)
“How much?!?”
Those new to Singapore often balk at the cost of car ownership here. Their eyes would pop just hearing how much the Certificate of Entitlement (COE) alone costs.
The battle-hardened long-suffering steadfast drivers among us, however, will hardly bat an eyelid unless COE prices start hitting record highs. That is because we understand that sometimes, owning a car in Singapore is expensive but worth it.
First things first, let’s get this settled. It is possible to own a car in Singapore without breaking the bank. With car loans and proper budgeting, you can find a comfortable new or pre-owned car that will meet your needs. And when taking account these needs, it makes sense why you would want to get a car in Singapore.
1. If you have young kids or elderly folks
When you have children, it can feel like you are endlessly shuttling back and forth between doctor appointments, tuition classes, and other commitments. Owning a car makes it that much easier to ferry them around. And you can simply chuck all the children’s stuff – school bags, prams, bicycles, sports equipment … so much stuff! – in the car boot.
If you have elderly parents with mobility issues, it is especially useful to have your own car to drive them anytime, anywhere, and in comfort.
2. If you want more personal commuting space
As efficient as public transport is in Singapore, one has to deal with the lack of personal space. Whether you are commuting by bus or the MRT, you are constantly surrounded by people. This can get uncomfortable during peak hours when you are jam-packed with throngs of strangers in an enclosed space.
You get personal space and privacy with your own car. Driving with the air-con set to your liking, and accompanied by your favourite music playlist, is a great way to unwind after a long day at the office.
3. If you are travelling to harder-to-reach areas
Public transport in Singapore is efficient, but nothing beats having a car when you want to get away from the hustle and bustle of city life.
One of the best parts of owning a car is that now you can take road trips to a remote park or nature reserve some distance away from home. Or how about a trip up north to Malaysia when you feel like taking off on the spur of the moment.
>>READ: Driving to Malaysia? Here’s what you need …
4. If you travel a lot for work
When you don’t have to spend time waiting for a bus, taxi, private hire car or MRT, you can set off from home or your office whenever you want. And if you are making several trips a day for work, it makes even more sense to have your own transport.
You have better control over your schedule and are less likely to be late because the private hire car driver cancelled on you, or if there is a train breakdown. Not to mention the stress of trying to get a taxi or private hire car during peak hours or when it rains!
>>READ: Tips for driving safely in the rain
5. If you see a sustainable drive with electromobility
If you are eco-conscious and have been holding back on getting a car, owning an electric vehicle (EV) could be a way to gain more freedom and flexibility while ensuring a more sustainable drive.
The Singapore government has been promoting electromobility through various initiatives. From expanding the charging infrastructure to offering incentives for electric vehicle adoption, policymakers are paving the way for a sustainable transportation future. With an increasing number of charging stations and EV-friendly policies, owning an electric vehicle in Singapore has never been more convenient.
>>READ: 5 lit reasons to buy an EV in Singapore
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6. If you need some bragging rights
There’s no sugar-coating this – owning a car will grant you a higher social status. In Singapore, car ownership is viewed as a symbol of success and affluence. Also, who doesn’t want to pull up to work in a sweet ride every day?
Though the case can be made that success shouldn’t be based purely on gaining more material things, it is still a point to consider, especially if your work requires you to make a positive impression in front of the clients.
Bottom line
There are many valid reasons why owning a car in Singapore is worth it. Car ownership in Singapore is expensive, but it is still essential for many drivers. At the end of the day, you are the one to decide if the benefits of owning a car are enough to outweigh the costs for one.
