People always say how expensive it is to buy a car in Singapore. Fewer people talk about how expensive it is to maintain a car in Singapore.
With Category A COEs being protected from luxury makes very soon, some of us who are looking to buy smaller mass market cars are probably feeling a bit happier.
Cars with engine power output exceeding 97kW will be classified under Category B in COE bidding exercises starting February 2014.
The new categorisation criteria comes as LTA seeks to better delineate mass market cars from premium cars.
Imagine rich folks buying cars like BMW 116, Mercedes Benz C180 and even the Lotus Elise competing for Category A COEs with people buying a Mazda 2 like me! It just isn't fair! Well, it will soon become a thing of the past. Read article:
here.
However, if you are thinking of buying a car, whether it is a need or a want, be prepared to spend a fair bit of money to keep your car running in good condition.
I just sent my car for servicing recently and this was how much it cost me:
To be fair, it was a major service as the half yearly maintenance bill usually hovers around the $300 mark.
For a 1.5 or 1.6 litre Japanese make, a $15k to $20k a year burn rate is about right, including depreciation (although some might argue that this is a non-cash item). Is it money well spent?
Read these?
1.
Buy a Mercedes Benz.
2.
Lease a car, don't buy.