Hi
(A) To import a foreign register car, see: https://www.onemotoring.com.sg/content/onemotor...
(B) Cost:
When importing the car, you will have to pay an excise duty to Singapore Customs, calculated based on 20% of the Open Market Value (OMV) of the car.
The OMV of a vehicle is basically the price paid or payable when a vehicle is imported into Singapore. This is assessed by the Singapore Customs and includes purchase price, freight, insurance and all other charges incidental to the sale and delivery of the car to Singapore.
When buying a vehicle, you should find out the vehicle’s OMV to calculate the upfront cost, including the Additional Registration Fees (ARF), that is payable.
When importing a vehicle, you have to pay Singapore Customs 7% GST that is calculated based on the total cost of importing the vehicle. The total cost of importing the vehicle includes the cost of the vehicle, insurance and freight, as well as any duties that have to be paid.
Eg. I assume it is a brand new card when you bought it (not 2nd hand) and a non national made car (non proton / perodua etc) since they are more affordable and make more sense to keep it as weekend car since it's hard to go around in M'sia without own transport.
Breakdown: (Ref: https://www.finder.com/sg/importing-a-car#pb-2 )
Excise duty to Singapore Customs: Calculated based on 20% of the Open Market Value (OMV) of the car. So assume 2018 Toyota Altis 1.8, the average OMV is about SGD19,741 and could be more, hence the excise duty is about SGD4k. Find out from here for other brand /model: https://www.onemotoring.com.sg/content/onemotor...
ARF = 100% of OMV = SGD4k (for cars OMV less than or equal to 20K)
Used car surcharge. If you import a used vehicle (up to a maximum of 3 years of age), a used car surcharge of $10,000 will be payable.
Shipping and Custom cost.
Insurance: SGD600 to 1k
COE : SGD 35 to 38k now (Source: https://www.sgcarmart.com/news/writeup.php?AID=70 ).
7% GST = Based on the total cost of importing the vehicle. The total cost of importing the vehicle includes the cost of the vehicle, insurance and freight, as well as any duties that have to be paid.
Total about SGD61k on sg road price (which is more than your orginal purchase price in 2018 but cheaper than buying a new same model in SG)
Honestly, cars in SG is a liability as it only bring people / stuff from point A to B and depreciates a lot in the first few years. With the cost of COE, ERP, Multi story car park, season parking etc on top of maintenance, insurance , it's really not worth it.
(C) Suggestions:
Sell the car in M'sia. Get the $ to buy a car in SG or better still , invest it in RM or SGD to make more $.
If you wish for weekend transport/ going around in M'sia, get a mid tier 2nd hand proton / perodua that is affordable as weekend car. Not only it is economical, it prevents also being the target of car thief and also is affordable to maintain, in the event of accident also cheaper to repair.
**If you like my answer or think that my answer is useful or my answer has help you, please do upvote / like my answer / reply. Thank you :)
Hi
(A) To import a foreign register car, see: https://www.onemotoring.com.sg/content/onemotor...
(B) Cost:
When importing the car, you will have to pay an excise duty to Singapore Customs, calculated based on 20% of the Open Market Value (OMV) of the car.
The OMV of a vehicle is basically the price paid or payable when a vehicle is imported into Singapore. This is assessed by the Singapore Customs and includes purchase price, freight, insurance and all other charges incidental to the sale and delivery of the car to Singapore.
When buying a vehicle, you should find out the vehicle’s OMV to calculate the upfront cost, including the Additional Registration Fees (ARF), that is payable.
When importing a vehicle, you have to pay Singapore Customs 7% GST that is calculated based on the total cost of importing the vehicle. The total cost of importing the vehicle includes the cost of the vehicle, insurance and freight, as well as any duties that have to be paid.
Eg. I assume it is a brand new card when you bought it (not 2nd hand) and a non national made car (non proton / perodua etc) since they are more affordable and make more sense to keep it as weekend car since it's hard to go around in M'sia without own transport.
Breakdown: (Ref: https://www.finder.com/sg/importing-a-car#pb-2 )
Excise duty to Singapore Customs: Calculated based on 20% of the Open Market Value (OMV) of the car. So assume 2018 Toyota Altis 1.8, the average OMV is about SGD19,741 and could be more, hence the excise duty is about SGD4k. Find out from here for other brand /model: https://www.onemotoring.com.sg/content/onemotor...
ARF = 100% of OMV = SGD4k (for cars OMV less than or equal to 20K)
Used car surcharge. If you import a used vehicle (up to a maximum of 3 years of age), a used car surcharge of $10,000 will be payable.
Shipping and Custom cost.
Insurance: SGD600 to 1k
COE : SGD 35 to 38k now (Source: https://www.sgcarmart.com/news/writeup.php?AID=70 ).
7% GST = Based on the total cost of importing the vehicle. The total cost of importing the vehicle includes the cost of the vehicle, insurance and freight, as well as any duties that have to be paid.
Total about SGD61k on sg road price (which is more than your orginal purchase price in 2018 but cheaper than buying a new same model in SG)
Honestly, cars in SG is a liability as it only bring people / stuff from point A to B and depreciates a lot in the first few years. With the cost of COE, ERP, Multi story car park, season parking etc on top of maintenance, insurance , it's really not worth it.
(C) Suggestions:
Sell the car in M'sia. Get the $ to buy a car in SG or better still , invest it in RM or SGD to make more $.
If you wish for weekend transport/ going around in M'sia, get a mid tier 2nd hand proton / perodua that is affordable as weekend car. Not only it is economical, it prevents also being the target of car thief and also is affordable to maintain, in the event of accident also cheaper to repair.
**If you like my answer or think that my answer is useful or my answer has help you, please do upvote / like my answer / reply. Thank you :)