Car ownership in Singapore involves a huge financial expense, probably the highest in the world. Therefore a frequently asked question is how much dough do drivers in Singapore have to sacrifice in order to own a car.

Here are some factors to consideration before getting yourself into the financial commitment of car ownership:

1. Loan Installment

2. Motor Insurance

3. Road Tax

4. Fuel

5. Parking

6. Servicing

7. Electronic Road Pricing

8. Cleaning & Car Grooming

9. Inspections

10. Others (eg, Radio License, occasional fines, etc)

And all these add up to around $1,000++ per month, depending mainly on your loan installment. In the next post in the coming days, I’ll touch how much each of these categories really cost.

Till then, drive safely.

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