01 Itemised
The full bill, line by line
A mid-range Cat A car over its 10-year certificate, per month:
| Line | ~ / month | Worth knowing |
|---|---|---|
| Depreciation (incl. COE & ARF) | $800–$1,500 | Half the entire bill — the car sheds value whether or not it moves |
| Insurance | $100–$150 | Rises with claims and age of driver |
| Road tax | ~$60 | 1.6L petrol; EVs differ |
| Petrol | ~$250–$350 | At ~$3/litre pump prices |
| Parking (home + everywhere else) | $150–$300 | HDB season ~$110 before a single mall |
| ERP, maintenance, misc. | $150–$300 | Grows as the car ages |
| All-in | ~$1,800–$2,800 | At $124k COEs, the old "$1,500/mo" rule is out of date |
Ranges from published Singapore ownership breakdowns and LTA's own cost calculator; June 2026 COE: Cat A ~$123.8k, Cat B ~$123.5k. PARF and COE rebates on deregistration soften — but don't rescue — the depreciation line.
02 Priced generously
The car-free basket — with unlimited Grab guilt
To keep this honest, price the alternative generously — not a spartan bus-only life, but the version where you never once feel bad about tapping the app:
| Adult travel pass — unlimited trains & buses | $128 |
| Grab / taxi, ~4 rides a week incl. airport runs | ~$400–$600 |
| Car-sharing weekends (GetGo from ~$3/hr + $0.44/km) | ~$100–$200 |
| A very comfortable car-free month | ~$650–$900 |
The ride-hail line is deliberately lavish — it's an illustration, not a statistic. Even so, the basket lands $1,000–$2,000 a month below the car.
03 The real price tag
The gap, compounded over one COE cycle
Illustrative: a $2,000/month difference, compounded monthly at 5% for 10 years. One decade of car ownership ≈ a second retirement fund, or most of a child's overseas degree.
For your money: the car is the single largest optional expense in most Singaporean lives — bigger than any insurance mistake, any fund fee, any latte. Every other optimisation on this site combined can be undone by one casual showroom visit.
For your life: and yet — money is a tool, not the point. If the car buys an hour a day with your kids, makes a caregiving routine humane, or is simply the thing you love, $2,000 a month can be excellent spending. The only bad version is the accidental one: bought for status, used twice a week, resented monthly. Decide it like the $300k decision it is, not like an upgrade.
04 The honest other side
When the car genuinely wins
- The caregiving years — school runs plus ageing parents across the island plus a job with hours. The car buys back the exact time that's scarcest, and no spreadsheet outweighs that season.
- Work that needs wheels — sales rounds, site visits, equipment. If the car earns income, it's a business cost, not a lifestyle one.
- Mobility needs at home — a wheelchair, a parent who can't manage the MRT. Necessity ends the debate.
- Far from the network — though if you're still choosing where to live, the car test says: buy nearer the MRT and skip both the car and the "cheaper" flat that required it.
05 Between all and nothing
The middle paths most people skip
| Option | Rough cost | Best for |
|---|---|---|
| Car-sharing (GetGo, Flexar) | Pay-per-use, ~$3–9/hr + per-km | Weekend drivers — a car when you want one, a bill only when you use it |
| Off-Peak Car scheme | Up to $17k off COE/ARF + road-tax savings; $20/day weekday licence | Weekend-and-evening lives that still want their own car |
| Older COE car | Far lower depreciation, higher upkeep | Needing wheels for a season, not a decade |
| The one-car family | Half of two cars | Couples where only one commute truly needs it |
The question was never "car or no car" — it's "how much car does this season of life actually need?" Answer that per season, not per decade, and the $300k subscription becomes a deliberate choice you're allowed to make — in either direction.
Want to go deeper?
Sources & notes
Figures as of June 2026. COE premiums (Cat A ~$123.8k, Cat B ~$123.5k, mid-June 2026 exercise): LTA bidding results — they move fortnightly. Ownership cost lines: LTA's car-cost calculator and published Singapore breakdowns; road tax for a 1.6L petrol car ~$744/yr; HDB season parking ~$110/mo. Adult Monthly Travel Pass $128: SimplyGo/PTC. Car-sharing rates: GetGo published pricing; BlueSG relaunched as Flexar in 2026. Off-Peak Car scheme terms: LTA. The ride-hail budget and the 10-year compounding are our illustrations, assumptions stated. PARF/COE rebate mechanics: LTA.
General information, not financial advice. Costs vary widely by car, driver and life — run your own version with LTA's calculator before deciding. Jonathan Wong is a licensed financial adviser representative in Singapore, currently between firms — during that period he is not able to provide financial advice. You can check his registration yourself on the MAS Financial Institution Representatives Register at eservices.mas.gov.sg/rr.