Having the option to not have a car and still able to live your life comfortably is by large a luxury of its own.

A Singaporean said she was disappointed that a car is not a luxury item in Canada but a necessity. Owning a car does not feel elite in Canada.

@good-tn9sr

7 ай бұрын

depends on the car

@damnfreakingsien

2 ай бұрын

what does she expect? It's the same in Malaysia or USA, unless it's a BMW or other European brands.

@Wilson24678

Ай бұрын

Then go get a luxury car lah

Actually, owning a car here in most circumstances is considered a privilege. In fact, most people don't drive because the public transport networks (bus and the metro/MRT) are very extensive and are still being expanded. Perks of living in a country with pretty awesome public transport

@priscilladc92

7 ай бұрын

Yeah, that's true. Public transport is really convenient here and it's definitely cheaper than having to buy and maintain a car. Plus, it's much more environmentally friendly!

@SD-iv4sz

5 ай бұрын

Perks of being a city state

@xiphoid2011

5 ай бұрын

​@@priscilladc92I've vacationed in Singapore but never took the metro. The people interviewed in this video say it can take 1.5 hrs to travel across the city. That doesn't sound very convenient for such a small city. I am actually quite surprised.

@captainbroady

4 ай бұрын

@xiphoid2011 Singapore isn't a "small city", its literally as big as New York City. And if you take a look at the metro map, there's many stations too. Also, the 1.5h you cited from the video is just an estimate

@twgok3162

3 ай бұрын

@@xiphoid2011the 2hours is the entire length of the country

I know a friend who complained constantly about high price of BTO flat. Yet he owns a brand new car costing him more than $200K which allow him to drive for only 10 yrs.

@averageuser2027

Ай бұрын

Even without a car, a bto is still expensive.

@Wilson24678

Ай бұрын

vanity is a common disease in Singapore

I'm not a Singaporean but if I'm not mistaken, the COE only valid up to certain years and similarly you can only own a car for certain years before they must be scrapped, so not only purchasing a car is expensive, owning a car as well suppose you want to own them for your lifetime. The reasoning is logical, Singapore is a small country so if everyone can afford a car, it will defeat the purpose of driving the car itself when traffic jam added minutes if not hours to the travel time.

@boy638

7 ай бұрын

Seems logical in theory, but since it's a bidding system, it's the wealthy against the super wealthy. The average person can't even be in the circle even if they really need the use of a car. Perhaps there are exceptions for those in certain low income groups that I am not aware about.

@kagenlim5271

7 ай бұрын

Yet the system is broken

@grozaphy

7 ай бұрын

10 years. you can renew after the 10 years is up

@kagenlim5271

7 ай бұрын

@@grozaphy for the same price a new coe would be. Which is insane

@vincecarlo

7 ай бұрын

ONLY In SG where a Single Pdt can be Taxed 8 TIMES in 8 Different WAYS. 4G is ADDICTED TO💰💰💰 This Multi Level Taxation on Vehicles in SG that makes it THE MOST EXPENSIVE Country for Car Ownership. Vehicles are Slapped with 8 Different Taxations on A Single Product - Import Tax - ARF - COE - Registration - Road Tax - ERP - Petrol Tax - GST It is A Well Devised System to Squeeze the Citizens in Multi Faceted Taxation System. 61% Voted to Be SCREWED

Only about 13% of Singaporean owned a car and out of it more than 50% struggling to maintain the car hahha

@Twodaae

7 ай бұрын

I feel that if you do not have the cash to buy the car (and have to take a loan) then you cannot afford to buy that car... save up more before purchasing the car. Drivers who own cars should not have to worry about the costs involved in maintaining the car, just pay and drive.

@tinyblackmage

21 күн бұрын

@@TwodaaeI agree. Buying a car with loan is just silly

For those that do not know or don’t live here, due Singapore being a really small country, the government implemented a law way back in the day, that only a maximum of 1 million vehicles are allowed on our roads at all times thus the high prices of cars here in Singapore. Anyway, because Singapore is pretty small so cars are not a necessity in this country plus our public transport system is pretty good already. The only reason why you would be willing to spend on a car here is if you have a family or if you just wanna flex your financial muscles.

@kastrokat6277

7 ай бұрын

Tbh our public transport is decent but not that great. Its nothing like Seoul or Tokyo, where stations are 5 - max 10 mins walking distance apart, and supermarkets/affordable convenience stores/pharmacies are found everywhere. In those cities, they dont have COE, but very few people who live in the cities own cars as they can easily settle their day-to-day needs without one. Here, most people need to frequent a mall to settle weekly groceries/basic needs. Unless u live right above or opposite the mall, people who are older or have medical conditions or families usually struggle to complete these activities using pure public transport. A car is a necessity in such cases. Unfortunately what should be a necessity item as it is in most countries is now just made purely a luxury/flex item by the government.

@r.chiwon1708

7 ай бұрын

@@kastrokat6277 Yup I definitely agree in terms of Public Transport Accessibility, we cannot compare to Seoul or Tokyo although we might probably catch up with the opening of more MRT stations in the new few years. And yes I can also agree if you are living with old folks or people with disabilities, having a car would be most helpful.

@priscilladc92

7 ай бұрын

Yeah, that's true. I've heard about this law before. It's really interesting how it affects the car prices here. It's definitely something to consider when deciding whether or not to buy a car in Singapore.

@RaiunHana

7 ай бұрын

​​@@kastrokat6277In terms of distance between stations, maybe SG is not comparable to Seoul but definitely comparable to Tokyo. I picked out random pairs of stations for each and the distance range for Tokyo is 2.2km to 6km and the distance range for SG train stations is 1.3km to 4.4km. Of course, they aren't gonna be the same throughout all the stations but you get the general idea that the distances aren't too far apart. Like many Singaporeans, I've walked from station to station before and as long as you're near a hdb estate, you'll 100% see a supermarket (and coffeeshops) or 2 along the way. In my 30+ years of living in SG, I've never once needed a car for groceries (I started buying groceries as a kid of 9 - 10 years old)

A car is usually not a symbol of wealth. It is a symbol of debt.

@sp33dbump33

7 ай бұрын

Debt is not a bad thing if you know what you are doing. If you know, you know.

@desmorado

7 ай бұрын

In Singapore's context 100% debts

@Trumppower

7 ай бұрын

Lmao.. You are poor.

@maramba32

7 ай бұрын

Public transportation is always better.

@Notsurewhattoputlol

7 ай бұрын

@@maramba32 depends. If always packed and break down like how it used to a lot few years (5-10 years) back, I rather have the option of having my own transport.

Things took a dark turn real quick when the guy admitted he only bought a car because his parents were at the tail-end of their twilight years...

Hopefully Singapore can build a lot more dedicated bike paths and bike parking areas as well

@NazriB

7 ай бұрын

Lies again? Captain Of Euro USD SGD

@harveykim2525

7 ай бұрын

I don't think you understand what weather in Singapore is like. Just going outside is difficult. Biking? Are you kidding me?

@wurbski

7 ай бұрын

​@@harveykim2525that sounds like a you problem

@harveykim2525

7 ай бұрын

@@wurbski Watch the interview. Even the locals say that the weather is very challenging.

@teohontech7141

2 ай бұрын

@@wurbski Actually a everyone problem since everyone is affected by humidity

Singapore people seem like great people. Power to them, I wish them more success!

Cars are symbol of wealth here in my country, but foolishly many prioritise buying a car than a home and ended up where they have a car but didn't have any garage to put them in

I don't understand why all these people don't understand the main reason as to why the car pricing becomes way too crazy is to control the limitation of car ownerships and also to reduce the amount of crowding that will become an issue if population keeps on increasing whereby the plot of land still stays the same just like in Hong Kong..

You have to be impressed with us millenials. Im still at 5:16 but Im proud that most or relatively some of us millenials here in asia now know what "NEEDS" and "WANTS" are and still have a healthy discussion with someone about it 🎉 Im proud of us

@hannesRSA

7 ай бұрын

They don't know that "can afford" is subjective though.

@yerri5567

7 ай бұрын

@iloveyellow7214 Proud of common sense? What?

@RitosM

7 ай бұрын

If you were someone who's already 27+ and still cannot manage needs vs wants you wouldn't be in a great place financially today.

@ae101rulez

5 ай бұрын

"need" and "want" equals to a term that either are u rich or not bo to afford...

I would happily to take their public transportation for everyday commute than to own and driving a car in Jakarta

@naldyano

7 ай бұрын

I feel you man 😂

@hannesRSA

7 ай бұрын

There's not even space for scooters because the concept of lanes or traffic rules don't exist.

@Callsign-Blade_RunnerSG

7 ай бұрын

@kevinvenxik5045 That is the issue with Jakarta’s poor road infrastructure planning and growth. Nothing to do with the convenience of owning a car.

@AlfariziZakaria

7 ай бұрын

So true traffic jam in here so horrible

Once again, I salute the Singaporeans commenting here and explaining to the audience why prices are high and rightly so. Good to see the unity everyone is displaying here. Cheers. The economic costs of traffic congestion is really the end goal here. If everyone unites and plays their part, which most are, we then have our wonderful economy that is part of our national defence =p

@ae101rulez

5 ай бұрын

Sure bo? Then why when come to msia side, keep say envy we can own more than 1 car 1 bike at home? Middle class Sg is trapped in this debt till cpf withdrawal time. Maybe is okay u can con those "farang" or "angmo" viewers siaaa...almost all complain about outdated COE system and getting bad to worst public transport system...don't take comparison of the public transport system if u live in central or CBD area compared with mid class workers that work at the fringe of Sg yaaa..everytime when talking to their neighbour countrymen, keep envy we can own multiple cars and bike parking at home...

It is not just buying a car. A certificate of intitlement (COE) is needed. I believe it is 120,000 Singapore dollars now. So the certificate may cost more than the car some of these people have just bought.

@clownfish7776

7 ай бұрын

120 SGD is not too outrageous. Maybe you re missing a few zeros at the end?

@thomasgrabkowski8283

7 ай бұрын

120k

@nlorand9033

7 ай бұрын

@@clownfish7776 I stand corrected as I missed out the k

@Sky-8646

7 ай бұрын

Is 150k now not 120k..😂

@vincecarlo

7 ай бұрын

ONLY In SG where a Single Pdt can be Taxed 8 TIMES in 8 Different WAYS. 4G is ADDICTED TO💰💰💰 This Multi Level Taxation on Vehicles in SG that makes it THE MOST EXPENSIVE Country for Car Ownership. Vehicles are Slapped with 8 Different Taxations on A Single Product - Import Tax - ARF - COE - Registration - Road Tax - ERP - Petrol Tax - GST It is A Well Devised System to Squeeze the Citizens in Multi Faceted Taxation System. 61% Voted to Be SCREWED

I don’t know where you’re getting your numbers from but the base price of a Toyota Prius in the US is about $27,000 USD BUT I’ve never seen it sell at that price. If you go to a dealer, you won’t find one at that price. Average price is about $45,000. I shopped for one last year.

@Twodaae

7 ай бұрын

$45k... still cheap vs a $200k Prius in Singapore

@jasperteo8443

7 ай бұрын

I got a 2019 Hyundai Avante last year for $78k SGD for family and work, definitely not that cheap as compared to other places. But in the US I guess you can call cars a necessity.

@joshualee8151

6 ай бұрын

pretty sure when the prius came out at the beginning they were under 30k

"Great video, Asian Boss! I really enjoyed learning about why cars are so expensive in Singapore. It's fascinating how the cost of owning a car is influenced by factors like limited supply, high taxes, and the Certificate of Entitlement (COE) system. The interviews with locals provided valuable insights, especially when it comes to the impact on everyday people and their decision to own a car. It was interesting to see the comparison to US car prices as well. The huge price difference between the two countries really highlights the unique challenges faced by Singaporeans when it comes to car ownership. It's also worth noting how some individuals mentioned the prestige associated with owning a car in Singapore, especially supercars. I appreciate the efforts of Asian Boss in bringing us these thought-provoking videos that shed light on different aspects of life around the world. Keep up the great work! Looking forward to more informative content like this. 🚗💡💪 Salamat, Asian Boss! 🌟🙌"

Good video !

Love Holland village! Nice interviews and good diversity to get an idea. It boggles one mind if you hear this for the first time, all those unique rules and tax system

Nice topic.

Not many realizd the importance of car, when you start aging you will know how much this helps for the elderly to move around instead of taking public transport.

yow this guy talks about having a car is a luxury thing, he became a philosopher rq. respect

Buying a car in Singapore feels like a total rip off.

@heidi-hu1tv

7 ай бұрын

It`s a tax. Singapore pays the most tax in the world when you consider housing and cars. But these are conveniently removed from the current price index basket of goods.

@Alozhatos

7 ай бұрын

Rip-off forever.

The wants of the many outweighs the needs of the few.

I paid US$500 for my first used car in America and US$2000 for my second car.

@davidtay9347

7 ай бұрын

I'm jealous😢

@Timholle

7 ай бұрын

Yeah because public transport is almost negligible in the US. It’s not accessible, not efficient & dangerous. Tons of junkies, criminals, crazy peeps etc

@franklopez2969

Ай бұрын

​@Timholle don't forget corruption, didn't you have a big corrupt lady/ government scandal?

Car is sg is like a monthly subscription. You pay for what you use..or rather you’re paying salary to your car

I was happy with using public transport and never would've bought a car if where I live now had it

The guy with the Audi A5 coupe is the Singaporean version of Alex Albon. 😂

@chua5016

7 ай бұрын

except that his english cmi

@troywho1627

7 ай бұрын

Maciam kepala buto 0nly😂😂 luxury 😂😂😂

@connormcchicken5915

7 ай бұрын

@@chua5016agreed. His english is atrocious but he did bring some good points across

@babiutan06

6 ай бұрын

Yeah man sorry for my English hahahaha I never finish study that's why , btw I'm the A5 coupe driver

@MrNSFC

2 ай бұрын

​@@babiutan06 bro kau kerja APA? The Audi is excellent. Congrats. Well done.

Thats good. And permit is really expensive too.

Same as in Indonesia 🇮🇩 , the car tax is extremely high, u could purchase 2-3 cars of the same model in the US with the price in Indonesia, therefore only wealthy ones could afford it, even secondhand cars aren’t cheap also 😆

@cocaineminor4420

7 ай бұрын

Damn I thought you guys have cheap cars I guess I was wrong.

@artsyhyd

7 ай бұрын

@@cocaineminor4420 haha nope, here it’s 2-3 times the price in the US 😂 That’s why having a car is equal to social status here, a luxury.

@yuddytuddy7990

7 ай бұрын

@@cocaineminor4420don’t you want to know the annual tax that must be paid for owning a car… and the roadside illegal parking payment… 😂

@user-lz5fo9gr9c

5 ай бұрын

Actually car tax is usually quite high in neighbouring countries. Especially conti cars, for instance in thailand a brand new bmw series you can easily buy 3 to 4 of it in US.

Honestly i feel that since car ownership has a limitation in SG, COE shouldnt simply be open market and common price for all. I think the pricing of the COE should be pegged to the car owner's NOA. There are families, people with disabilities/medical conditions who require a car for convenience, as public transport may not well serve their needs. For now car ownership has become "a luxury"/ "rich people sport", when it shouldnt be that. The higher income tiers can afford to pay the higher COEs and are the ones driving up the prices, but certainly not the average joes.

@alvin67788

6 ай бұрын

every year people feedback to straits times, LTA always give canned replies with usual transport control measure excuses. pap need lose more GRC to wake up and ask what this means to average joes which are majority people.

@winc86

6 ай бұрын

Go to a big country, all average joes can own car.@@alvin67788

Never had to drive in Singapore, the public transportation is world class. The COE is a form of luxury tax because there is little necessity in owning a car when you can use buses, MRT, cabs or ride hail apps. Singapore is just a small island & these days the buses even stop and assist wheelchair bound folks.

If someday we all go to prison for downloading music, I hope they split us by music genre.😂😂

@L17_8

7 ай бұрын

Jesus loves you ❤️ please turn to him and repent before it's too late. The end times described in the Bible are already happening in the world.

@MrTakoyaki1992

7 ай бұрын

Would be awkward if you're into trance😂

Car prices are definitely insane in Singapore! I grew up half my life in Singapore and now live in the US. I am in a position to own multiple cars here now but if i were to still be living in Singapore, that will definitely not be the case.

@user-lz5fo9gr9c

5 ай бұрын

You do know US is way bigger than singapore right Over there cars are considered as a need. People need to travel to other states or cities. And public transport is not that convenient like singapore. So you can't really compare withUS.

Singaporeans don't seem to realise that the premiums that they/we pay for the cars, result in us having a super smooth driving experience everyday without the horrendous traffic jams you see in most major cities as crowded as us.

@Callsign-Blade_RunnerSG

7 ай бұрын

@MrJonslife No it doesn’t, it just deprived less well to do citizen families of having a decent family car. A sign of the Rich getting richer while the poor is getting Poorer.

@colintanmh

7 ай бұрын

​@Callsign-Blade_RunnerSG He can't help it. He's rich so he doesn't care about the rest who can't afford a car. He just loves his smooth driving experience yah.

@good-tn9sr

7 ай бұрын

@@Callsign-Blade_RunnerSGthis is an example of rich getting poorer 😂

@xcre8ionx

7 ай бұрын

​@@Callsign-Blade_RunnerSGthat is in Malaysia lah.. without car they are handicap.. Singapore is more about choice.. no car can save more money😂

As with most countries, there are things that are cheaper and things that are more expensive. For example the medical care/health insurance system in the US is a mess. Even with "insurance" you could easily end up in financial ruin if you require a major procedure. Also the fact that eye care & dental care is separate insurance you need is stupid and just another expense.

@keimorgan5654

7 ай бұрын

I agree. I don’t understand why dental and eye insurance is separate in the USA. They are very important. Makes no sense.

South East Asia is so damn expensive even if Japan is next to it. A GR Toyota Supra is like 55k USD in USA, but well over 80k USD in Philippines/Thailand/Singapore.

@gedecandra7722

7 ай бұрын

It's actually good thing to prevent the emerging of ridiculous car centric nation like the USA.

@mimioize1634

7 ай бұрын

⁠@@gedecandra7722yeah paying 80k for a Corolla is a good thing 😂 Singapore sounds horrible

@RandomVidsforthought

7 ай бұрын

​@@mimioize1634It's not

@vincecarlo

7 ай бұрын

​@@mimioize1634 ONLY In SG where a Single Pdt can be Taxed 8 TIMES in 8 Different WAYS. 4G is ADDICTED TO💰💰💰 This Multi Level Taxation on Vehicles in SG that makes it THE MOST EXPENSIVE Country for Car Ownership. Vehicles are Slapped with 8 Different Taxations on A Single Product - Import Tax - ARF - COE - Registration - Road Tax - ERP - Petrol Tax - GST It is A Well Devised System to Squeeze the Citizens in Multi Faceted Taxation System. 61% Voted to Be SCREWED

@user-lz5fo9gr9c

5 ай бұрын

Alot singaporeans have the typical mindset that neighbouring countries cars are cheaper. Yes perhaps for some japs car but if you are talking about luxury or fancy cars. The price is around the same as SG.

I saw lamborghini svj in singapore near orchard rd I was super excited to see

Anyone can afford a car in Singapore if he is willing to do some delivery jobs part time. That will pay for the instalments.😊

TBH as a Singaporean, the public transport here is fantastic and practically reaches everywhere that most people want to go, mostly on time and reliable. If one wants a bit more convenience, ride hailing services are easily available, widely used and are relatively cheap. With this alone, it makes it hard to justify needing a car for more convenience, in fact i think it comes with own inconveniences and costs (parking, insurance, road tax, petrol, car wash, etc).I don't imagine car ownership is a need for most people here unless you have young children (like < 10yrs old), elderlies, job requirements, etc. Other than that, it's purely a want and a luxury or for some, a hobby.

@aliabdulkader3465

7 ай бұрын

Ya the bus train drop you at doorstep

@iamavaenergy

6 ай бұрын

That's true. It's really convenient to get around with the public transport here. And it's definitely cheaper and easier to not own a car. Unless you have special needs or want a car for leisure, it's really not necessary to own one in Singapore.

@ae101rulez

5 ай бұрын

Ya ya ....where u live? central? CBD area? People Living in Jurong but working in bedok takes 1 hour plus daily... efficient my foot.

@ibrahimjubayer8373

4 ай бұрын

It’s a passion for many

I felt like the recent videos are portraying SG to be a ridiculously expensive place to stay in, and now with the "absurd" car prices. what people don't understand is, if everyone in SG can afford a car. be prepared to be stuck in traffic for hours just to get home from work. I experienced it first hand in the cities of China and Indonesia and it is crazy. The public transport in SG is so efficient and convenient but it feels like in SG, a car becomes a "need" to be more convenient and also a symbol of status. I didn't get a car till my mid 20s due to the nature of my work, I found it way more affordable to just cab about without the hassle of owning a car. SG is expensive because of the wants and not the needs.

@heidi-hu1tv

7 ай бұрын

Singapore too expensive.

@adamtay-zp2bx

7 ай бұрын

We are underpopulated, so why can’t everyone own a car? It is not like we are overpopulated.

@aloysiusgoh1278

7 ай бұрын

I'm quite sure even with coe , jams are pretty bad still on highways during peak hours where it matters the most

@y061616

7 ай бұрын

​@@aloysiusgoh1278yea at most 30mins? wait till u see the jams in the countries I've mentioned.

@y061616

7 ай бұрын

​@@adamtay-zp2bxthat's a first to hear that we are underpopulated 😅

I also heard getting a singapore license is like getting a celebrity status. It’s really hard to pass in the driving center.

@twgok3162

3 ай бұрын

Not really uk and Germany is probably harder

Low car price will be a nightmare for the traffic. the public transportation is very convenient. no need to pay too much on debt.

main cost driving up the cost is coe , decades old bidding system. It should be replaced by income based and balloting system similar to hdb. Everyone entitled to only one coe per ten yr with minimum say 30k coe. Higher capacity extra tax. $5k admin fee for background checks.

It seems to me the Singaporean government is doing everything to prevent people from buying vehicles but somehow Singaporeans see owning a vehicle as a matter of pride and luxury that they are willing to overlook the outrageous costs and severe limitations just to get one. The COE starting at $120k alone is nothing more than giving the government free money in exchange for a piece of paper that says you are entitled to own a vehicle for ten years, the cost of the vehicle itself can be at least 2 or 3 times more than the market price not counting the insurance and road tax. Fuel prices in Singapore is also much more expensive that other countries. Instead of COE system which only the wealthy can benefit the government should perhaps look into allocation systems that is fairer (each family is entitled to one etc)

@kagenlim5271

7 ай бұрын

Exactly

@scbchong6964

7 ай бұрын

Why is one "entitled" to a car regardless of one's earning abilities? You want to force poor singaporeans to buy a car if they cannot afford one? Aren't you playing into the hands of car companies and encouraging consumerism?

@humedesmond7774

7 ай бұрын

@@scbchong6964 Of course it can be optional like HDB subsidies for families with children. Most of the average families are struggling to even earn 30k a year and some of the interviewees in the videos have highlighted how families with children need a car more however they can't afford it. Additionally in what way does the COE system helps at all? I don't see the roads free of traffic jams and price of COE keeps going up.

@RemusRomulus

7 ай бұрын

You hit the nail on the head. The COE system is an artificial scarcity created to line their coffers.

@Notsurewhattoputlol

7 ай бұрын

"but somehow Singaporeans see owning a vehicle as a matter of pride and luxury that they are willing to overlook the outrageous costs and severe limitations just to get one." Over time, it will just be a "it is what it is" mindset. "I only live once. COE is something that I can't control." "Money can't be brought into the grave." "Why worry too much and save for old age, when you won't have the energy to enjoy"

Wow that’s insane! I’m not bragging because most Americans have owned multiple cars along their lives but I’m 40 years old and have owned a total of 11 cars 4 of those brand new and 5 motorcycles 2 brand new as well. But to be honest I’m tired of driving all the time. I enjoy riding my motorcycles more. But I get why Singapore has those crazy car prices.

how much those car in Saudi / Indonesia?

2:17 A coop is where you keep the chickens. It's coupe.

the reason i bought a car is because I got 2 kids. My house is far from mrt and bus stop. Both of my kids hates walking. Is quite hectic bringing them out using public transport. Normally before reaching shopping center my armpit and my ass already starting to sweat😂

@prisciiiii_

7 ай бұрын

🤣🤣

It’s true that car is symbol of luxury and people who don’t own it’s richer than car owner but if car owner is wise and don’t mock anyone it will be fine

it would be cool to hear some asian countries peoples opinion on the Israel-Gaza war. Like you did when the russia-ukraine war started

How about the Singapore Government gives these limited COEs to the people by a lottery? People would apply for COE regardless of their income. On this way they could still keep the amount of cars low. That would be a fair system

To each their own .. Take a typical normal sedan brand new Toyota Camry @ 260k for 10 years ownership Car operating cost estimated at 70% of the purchase price over 10 years Above excluding interest, unless one is taking a loan 442k over 10 years or $121 a day to own a private transportation (Not forgetting non car owners need to spend money on taxi or public transport daily too) Say if you take 2 hours by public transport, and 30 minutes by driving to work one-way You save 3 hours a day with a car, and are able to ferry family, run errands and do more things with that 3 hours. Even just catching more sleep is good. If the car can bring back more "value" than said cost, it justifies the purchase financially. If not, then you're paying a premium for that experience, emotional and personal appeal, which is non-quantifiable Cheers

Then again, Singapore is not that huge and mass public transportation facilities are enough, so I can understand why they don't need a car

Terbaik 👍

You would have think that a 100k coe will drive demand down; sadly, It did not.

How do government regulations apply to companies that own trucks for delivering essential goods? Are the same rules enforced on them?

@mahomisawa4172

7 ай бұрын

I'm not an expert but afaik there are categories, so goods vehicles are in a separate category

The Auntie is funny. She owns a car and says it’s convenient, because she no need to walk to MRT and bus and it’s easy to carry goods after shopping… But, when asked for foreigner, she ask them not to buy a car and say public transport is very good in Singapore!!! Haha! 🤣 I think she don’t want to share the quota with expat! So kiasu! 😂

@ae101rulez

5 ай бұрын

Are u expat? Living in your dream bubble central/CBD area where public transport is the best? Don't compare a "blur sotong" expat with the ordinary SG citizen and the Sg citizen I referring to is mid class Sg families...

@jeanpierre3359

5 ай бұрын

@@ae101rulez Angry KIASU!!!The aunty in the video must be you mum!🤣🤣🤣

I stop to own car after 2017. We are able to save money for more oversea trips, including Antarctica.

@Robinhood369_

7 ай бұрын

I will stop owning a car when my kids turn 5-6 years old🤣

For me lah why the cars are so expensive in Singapore because Singapore is small, so if the government make the car cheap then the country will be full of cars. That's why the government want to make people taking a public transportation instead of having their own cars. To save space without having too much cars in a small country.

Hey Asian boss!!! Come, let make a guess. How many time is the US bigger than Singapore in land size? US is 13,508 times bigger than Singapore. Even the smallest state in US (Rhode Island) is 4.31 times bigger than Singapore. Not forgetting Rhonda Island population is only 1.05mil compared to Singapore 5.6mil population. What would the traffic conditions be like in Singapore if the cars were as cheap as the US? Any human with a brain will know that Singapore has no choice but to sell her cars with that price.

@1988kcmo

7 ай бұрын

In a free market system though, couldn't they just have normal car prices, and let the market determine if there is too much traffic due to too many cars? I don't think it's the government's job to limit car ownership...

@Johnne009

6 ай бұрын

Or you could always improve the road infrastructure??? Roads on top of roads, roads going in and out of buildings, multi level highways, flying cars

@jeems2066

5 ай бұрын

@@1988kcmo Govt's job is to run the country properly. Having too many cars and causing major traffic jams is not what a good govt would do. The free market is not always rational and this is one particular situation. You sustain economic losses if people are stuck in traffic doing nothing. The free market system cannot be applied to everything. Should the free market let all the rich Chinese come and buy out all our private property leading to even higher prices? So locals end up going into the govt housing market which in turn also goes sky high? A person coming from a place of logic and understanding of how the world works would know you need govt controls. Oh but govt controls are against free market principles, is the govt bad for wanting to manage property prices? Similar to car ownership.

@user-lz5fo9gr9c

5 ай бұрын

Well said. Alot singaporeans just blindly compare other countries car prices. But they have to know other countries are way much bigger than singapore. They have many states, provinces and cities. And i believe public transport is only available in the capital or major cites. So for them cars are considered as a need whereas whole SG not even the size of their one city and the whole island is cover with public transport.

I visited Singapore for two weeks to visit my brother and it was an awesome stay, the fact that I can go anywhere easily with public transport is a gem, not having to drive and just relax or sleep while commuting after work is a huge boon I wish I could have in my country.

My friends owning a car mostly for kid’s school & enrichment classes ferry.

I suggest buy a second car as your first car... there are much cheaper options but coe remains the same...

It’s great for Singapore putting car prices very high because it will cause traffic jam and accident Another country should do this too but some country has very bad public transportation system so I don’t think another country can do this

@user-lz5fo9gr9c

5 ай бұрын

Other countries can never do this because they land size is much bigger than Singapore They have many states and cities and people need to travel around. And usually public transport is only available in the capital or major cities. So cars are considered as a need over there whereas Singapore itself is a island nation. Public transport cover the whole island so there isn't really a need to own a car.

How much for a motorcycle?

The elderly indian made the best point - although Singapore is a small nation, the COE is certainly not the best policy to restrict ownerships of cars. Multiple wealthy families owns dozens of cars whereby each family member owns 1 - which has made this policy a priviledge for the rich rather than a policy to serve the people. Just like the CDC voucher being restricted to household, cars should be restricted to household as well, meaning any additional car purchase should be tax more per household. Additionally, there are certainly some family that needs the aid or convenient of a car more than others - especially so for people with elderly parents, handicapped family members or young children. Isnt the SG government encouraging youth to start a family? Who is going to ferry the young kids to and from whereever they need to be? Are ppl suppose to carry their 2 mth old newborn baby from the hospital via mrt to home? There are certainly many tweaks in this policy that the Singapore government can do better but chose not to do so

I find the Singapore accent so interesting.

judging from the answer from the interviewee when asked why do you own a car it does sound like a sensitive topic in singapore lol

This is why Singapore are the "crazy rich asians"

I bought a used honda civic in the US for $3000. Singapore car prices are insane

What’s with all the small car engine in Asia?

Singapore has one of the best public transportation systems in the entire world, and it is extremely cheap by any standard, as well as efficient and safe. For the vast majority of people, there is no need whatsoever to drive in Singapore. Those who are elderly, disabled, or pregnant can benefit because of the easy point-to-point transport (especially if someone else is driving), but if more people who don't need cars had them, the streets would be clogged, and everybody would lose because of this. I applaud the government for enacting measures that benefit all of society. Just look at some places that have become infested with cars and have poor public transit. You have no choice but to have a car and then sit in traffic.

@robocop581

7 ай бұрын

Getting rid of COE won't necessarily clog the streets. HK has no COE and has a very efficient public transport system. Only 13.5% of HKers own cars while in Singapore it's 11%

@person880

7 ай бұрын

​@@robocop581Good point, but if the COE were immediately removed, I would think the car ownership rate would go up. Besides, car ownership rate and percentage of trips done by car are two different things. One might own a car but use it only once a week for shopping and leisure, opting to use public transit for commuting. I don't know how Singapore and HK compare in that statistic.

@robocop581

7 ай бұрын

@@person880 There are no stats for car usage, only ownership. Plus many HKers own more than one car so maybe HK has the same number of licenced drivers as Singapore percentage wise

Cars enable an alternative lifestyle in Singapore, allowing easy access to places that are difficult to go to without public transport. At the same time unfortunately, the price is just ridiculous......

4:12 isnt he a mediacorp actor? i think he was on meet the mp with oon shuan and aaron aziz

It used to be 'kinda' affordable 10-20 years ago even with the coe which cost around 60-70K. but now it just doesn't make sense to have a car depreciating 20K each year which only last u 10 years

@scbchong6964

7 ай бұрын

Wrong. COE price was low from 2018 till early 2022. It's risen now only because back-to-work singaporeans are bidding against each other. And car rental companies are adding to their stock after the new vehicle shortages of 2022 and early 2023.

@Twodaae

7 ай бұрын

I renewed my COE in 2018 for $26k

A Prius is about $30k in the US (S$40k)

That's insane! i'm from m'sia, i own 3 cars now, its a must if you have a big family to move around. with that coe+ car prices, car owner must be really rich there 😮😅😅

@user-lz5fo9gr9c

5 ай бұрын

Malaysia is very big. Cars is a need over there and i believe public transport is only available in KL and some major cities. But look at SG, the whole island is cover with public transport.

@hasmano4176

4 ай бұрын

@@user-lz5fo9gr9c that's i understand, but for a Bachelor without a family, i think is alright, but for a family, like meself, a car is a must to do errands, working etc. its not a luxury but a necessity. I do live outside KL.

it's not 20k in the US. it's like 40k for a car now

In malaysia, they earn ringgit can afford 300k ringgit BMW， you should go interview them

I just learn in Canada insurance can be stupid expensive even if you have a license for few years that why my close family member one of kid use sky train every day to go to work when I was there I saw how many people without cars waited for the train and bus just to go to school or work I’m glad to live in US car insurance for my 2019 accord is $400 max like I get a Audi e tron EV it could get up to $2,000.

Singapore is so small and crowded, public transport is good. There is hardly any need for a personal car.

The cutie in the blue shirt knows Elizabeth!!! エリザベス! ナイス!👍

Is it USD or Singapore dollars

I planning on buying a car that cost $25k usd or above, if y’all don’t know Donut release a video a futuristic car that’s worth spending on. And COE is high as hell, now 100k I think, my dad say it was 10k in the past. At this point, I rather built a jet pack

78,000.00 Singapore Dollars = 56,807.319 US Dollars 1 SGD = 0.728299 USD 1 USD = 1.37306 SGD You're welcome.

You should go to Burma

People here, as usual, complain about the high cost of owning a car. Worse are ppl who have been saying, COE n taxes r for the govt coffers. Unless u r blind & don't see infrastructure being built & improved. Comparing Sg car prices & US??? Lacking Sense of proportion & size? How much space does ONE car occupies, moving or not. How big is Sg, (go look in the map, if u can find it) Govt has to build roads, highways, pedestrian paths, traffic lights etc & most of all, carparks. What about other facilities, housing eg,. Don't just think for yourself. Since d govt discourages owning cars, they've built a 1st class transport system. Go take a look at other countries when on tour, don't just enjoy the view.

@user-lz5fo9gr9c

5 ай бұрын

Well said. Alot of singaporeans just blindly complain about car prices and keep comparing with other countries. If you want to compare with other countries you have to look at their size too. Other countries have many states and cities and public transport is usually only available in the capital or big cities. So if people do not own a car how are they going to travel, they may have to go to another city to visit their family members, friends, relatives etc. Singpore itself is a island nation and the whole island is cover with public transport.

They use a heck lot of "Yahs". LOL

Walk 5 - 10 minutes challenging 😂

@LifeHacksProducts

7 ай бұрын

when you own a car, you will agree lol

Now you know. Need to work in banking industry haha now Honda civic 2023 is 190k I can’t believe.

- The THING is the NOSE RING !!!

You guys didn't get to the most important reason on why cars are expensive in Singapore... It being a super small country, its gov puts high cost on owning cars and the number of cars a family can own

It’s because of the private hire vehicle fleets and the car sharing fleets that the private companies are aggressively buying and competing with the citizens. Since there is a limited amount of COEs available, the private companies use their economies of scale to swoop up the COEs that’s available and purposely bid it to an exorbitant prices due to supply and demand. Since people won’t be able to afford the cars due to the crazy COE prices, they will have no choice but to use the PHV and car sharing services. Now the citizens have been asking the government to put regulations on these companies and separate the COE category for such companies, like what they have done so for the taxi companies but why would they do that? The government is laughing and enjoying the extra revenue they are receiving. Higher COE cost also translate to higher prices of commodities due to the higher cost of transport. Additionally, the PHV and car sharing companies can sell their older vehicles at a higher prices from what they have purchased when the COE increase. It’s just a win win situation for the companies and the government while the citizens who really need cars suffer.

@ae101rulez

5 ай бұрын

True. This statement is the most right about the situation in Sg...rather than those "fake" bubble dream who say save environment, save lanjiao...those mid class families that really need a decent A-B transport are the one suffering due to money game and poor gov regulations loophole

@bcsianliang1568

5 ай бұрын

bro...u do understand what "economies of scale" means right? You think government gives a discount if u buy 10 COEs? You don't get any EOS with regard to car purchases. Also...u contradicted yourself by saying they used their EOS (meaning getting it cheaper), but then say that they bid at exorbitant prices...what does that even mean...so are they getting it cheaper by EOS or are they overbidding? Also...no choice but to use PHV/carsharing regardless of prices? Public transport? Which sane company would increase they costs by over bidding just to compete against a publicly owned public transport? Just using big words for the sake of it...gosh...

@XwytreX

5 ай бұрын

@@bcsianliang1568 Yala u very good, come everyone clap for this guy 👏👏👏

I am singaporean and i rather take public transport than taking cars the public transport is very convenient and very well utilised cars cause pollution

Do we actually need a car for most?

I mean that just means every family has 1-2 car rather than 2-4 in USA . Not that big of a difference if you look at it like that. Per capita in singapore is high so its not like they cant afford jist 1 car per household

One of singapore government CASHCOW. Control traffic population our axxes.

@scbchong6964

7 ай бұрын

Wrong. The COE cost is not lost but stored and depreciated equally in the paper value of the car. The paper value is a store of value and can be used as currency to offset the cost of the next car, new or used. And you don't need to repurchase a new COE for used cars.