How Much is the Cost of Owning a Used Car in Singapore
The cost of a used car includes a down payment fee, a loan (if acquired), a registration fee and some road taxes.
The cost of a used car includes a down payment fee, a loan (if acquired), a registration fee and some road taxes.
When buying a pre-owned car, it is important to consider more than just the price, make and model of the vehicle.
According to the Monetary Authority of Singapore, a loan for a used car can be 70%, considering the price is less than or equal to $20,000.
Buying a second hand car in Singapore – or anywhere in the world – can be overwhelming if the vehicle’s information or the purchaser’s familiarity with the buying process is inadequate.
Compared to brand-new vehicles, second-hand cars offer significantly greater value and allow you to enjoy all the benefits of car ownership without the financial pitfalls.
Compared to brand-new vehicles, second-hand cars offer significantly greater value and allow you to enjoy all the benefits of car ownership without the financial pitfalls.
One particularly important yet challenging aspect of keeping and driving a used car is its maintenance.
Japanese cars have become an increasingly popular choice in Singapore, with some representing the most common sights on national roads today.
With the increasingly high costs of COEs turning new car ownership into a burden, many are considering used car buying as a value-friendly alternative.
Carefully assess how your used car fits into the categories and baselines described above.