Owning a Car in Singapore: The High Costs and Challenges
- 7 months ago
Owning a Car in Singapore: The High Costs and Challenges
In Singapore, owning a car is a luxury that comes with a hefty price tag.
The cost of a 10-year Certificate of Entitlement, which is required before buying a vehicle, has skyrocketed to a record minimum of $76,000.
And that's just for the right to purchase a standard Category A car with a small to medium-sized engine.
If you want something bigger or flashier, like an SUV, you'll have to shell out $106,630.
These costs are on top of the already expensive vehicles themselves.
The quota system, implemented in 1990 to reduce traffic and emissions, has made cars unaffordable for the average Singaporean.
With a median monthly household income of $7,376, buying a car becomes a distant dream.
Ricky Goh, a local car dealer, expressed his concern about the price increase, saying it will be even worse for business.
Wong Hui Min, a mother of two, shared her dilemma of relying on her car for her family's needs but questioning if she can afford to keep it in the long run.
Supporters of the quota system argue that it has helped Singapore avoid the congestion seen in other Southeast Asian capitals.
They also point out the extensive public transport system available to those who can't afford a car.
Alternatively, motorbikes are a more affordable option, with permits costing $7,930.
Owning a car in Singapore is a costly endeavor, with prices reaching all-time highs.
The quota system and rising costs of living have made it increasingly difficult for Singaporeans to afford a car.
While the system has its benefits, it also presents challenges for those who rely on their cars for daily activities.
#latestnews #news #cnn
In Singapore, owning a car is a luxury that comes with a hefty price tag.
The cost of a 10-year Certificate of Entitlement, which is required before buying a vehicle, has skyrocketed to a record minimum of $76,000.
And that's just for the right to purchase a standard Category A car with a small to medium-sized engine.
If you want something bigger or flashier, like an SUV, you'll have to shell out $106,630.
These costs are on top of the already expensive vehicles themselves.
The quota system, implemented in 1990 to reduce traffic and emissions, has made cars unaffordable for the average Singaporean.
With a median monthly household income of $7,376, buying a car becomes a distant dream.
Ricky Goh, a local car dealer, expressed his concern about the price increase, saying it will be even worse for business.
Wong Hui Min, a mother of two, shared her dilemma of relying on her car for her family's needs but questioning if she can afford to keep it in the long run.
Supporters of the quota system argue that it has helped Singapore avoid the congestion seen in other Southeast Asian capitals.
They also point out the extensive public transport system available to those who can't afford a car.
Alternatively, motorbikes are a more affordable option, with permits costing $7,930.
Owning a car in Singapore is a costly endeavor, with prices reaching all-time highs.
The quota system and rising costs of living have made it increasingly difficult for Singaporeans to afford a car.
While the system has its benefits, it also presents challenges for those who rely on their cars for daily activities.
#latestnews #news #cnn