Skip to main content

Owning a Car in Singapore: How Much it Really Costs?

 Unlike in other countries wherein owning a car
Unlike in other countries wherein owning a car is a practical thing for it does not cost that much, in Singapore, buying a car can truly be hefty when it comes to financial, given the fact that the country has a high cost of living. And with purchasing an auto, private car insurance comes next, since it is mandated by the law.

Despite this fact, there are still a large number of Singaporeans who consider owning a car in the future, thinking that it brings convenience, which is true. For those who are trying to decide whether to purchase four wheels, knowing the underlying costs is an absolute must!

1. Car maintenance cost
Have you seen a car that stayed brand forever? If you answered ‘yes’ to this, then all thanks to great car maintenance. But the more you try to keep your car looking fresh equivalents to high expenses. Another factor to take in mind is not all cars have the same maintenance costs; it varies depending on the mileage of the car, as well as the engine capacity, and the make and model of the vehicle.

Paying for a regular servicing in line with the recommended maintenance intervals of your car is the key that will keep your vehicle from the chances of breaking down. For instance, car owners need to have their auto serviced every 6 months or 10,000 kilometers, which can cost around $250 per visit, without extra work that needs to be done.

2. Fuel costs
No matter how luxury your car is, if it doesn’t have fuel, it would never work. Which is why, as a car owner, expenses on petrol charges should be a part of the budget. The fuel costs vary according to how much you use your automobile. On the contrary, you can be able to save money on fuel charges by choosing the right fuel grade that is perfect for your car. In addition, look for the best petrol brand which offers great deals and saves up to 20 percent on fuel charges with the use of petrol credit cards, membership cards, discounts, and whatnot.

3. Parking fees
It may take you some time looking for a space in Singapore where you can park your car for free. Remember, these days, there’s no such thing as free lunch, and so parking your vehicle comes with a price. In order to leave your vehicle in a secure space, you’ll need to pay a parking fee, in which the rates vary according to the location. It may cost around $1-$2 per hour, in which your parking fees can reach up to $100 or so per month.

4. Road tax
Aside from parking fees, another recurring cost every car can’t escape is the road tax, which is required for all the registered vehicles in Singapore every 6 months. The road tax charges that you need to pay depends on your car’s engine capacity.
It is also important to note that road tax for COE cars, or those vehicles that are older than 10 years require higher charges.

5. Car insurance
Getting your auto insured is may lead to expenses but it is a great way to safeguard you, your car, the other passengers you’re with, and other drivers in case an accident happens on the road.

On the other hand, there are some ways on how you can save money for insurance aside from choosing the company that offers affordable car insurance: being a safe driver! No Claim Discount is a privilege given to good drivers who did not get into a car accident or those who didn’t file a claim.

Comments

Popular posts from this blog

10 Reasons Travel Insurance Keeps Your Trips Protected

Traveling makes life exciting and worth living. Whether it’s domestic or an out-of-the-country trip, getting away with the people you love or just with your luggage is indeed a thrilling idea. Speaking of luggage, have you included to pack one of the most important things that you will need in the duration of your trip: travel insurance ? Many folks have been lax about getting travel insurance in Singapore for they think it is not necessary and may only cause another expense, which is totally wrong. Just to clear your mind, there are two broad categories of travel insurance: trip cancellation insurance and travel medical insurance. Obvious for the names, trip cancellation insurance is a package policy which allows you to revoke your trip for valid reasons earlier in time to your departure, while travel medical insurance apparently centers on medical benefits that is far way better than the aforementioned package policy. To further answer the question spinning around your head (ye...

Borrowing a Car Equals Borrowing Car Insurance Too!

You might have experienced sharing clothes, food, and other stuff with a friend, or a member of the family, which are somewhat a common thing. But have you ever tried tossing your car key to someone? Well, allowing a person, may it be your friend, family, or neighbor to drive your car is not as easy as sharing the above-mentioned things. Believe it or not, when you borrow someone else’s car or lend a person your key, it is like borrowing or lending car insurance , too! It is because auto insurance goes after the car and not the driver. At this point, the question “are you insured when you borrow a car” has already been answered, but let us go deeper. Despite the fact that you are like being covered by the insurance of the car you borrowed, it is important to know that it still depends on the terms of the car possessor’s policy and not yours. That is why it is indeed important to have research regarding car insurance just so you have a little background about the process in case ...

Ideal Destinations Where You Can Seize Long Weekends in 2019

Just the thought of working a typical eight-hour job (minus the overtime) for five days in a week can already make your mind and body exhausted, right? Though you have to admit the fact that work is truly needed to sustain your needs and wants in life, it is still advisable to take a break every once in a while to renew your lost energy and refresh your mind and soul. This is why there are long weekends! In case the normal weekends are not enough to make the getaway (which you have already had in mind for a long time) happen, here are some ideal spots where you can spend the four (4) long weekends in 2019. Since you will be thanking us later, you are welcome! To make it more fun and hassle-free, it also suggested picking the best travel insurance in Singapore. 1. Good Friday (19-21 April, Friday to Sunday) Krabi, Thailand If you have been dreaming of relaxing your worn out self on a beautiful beach, Thailand’s Krabi Island is definitely the ideal holiday destination for you...