Is it worth it to have a car in SG?

A car is a liability. Period.

Try to look at alternatives like grab etc.

Just my two cents. I ride a motorcycle but I know this option is not viable for everyone.

I think it depends on how much u really need a car and how much value can it value add to your life. Personally, when i was working in office after i grad, i took pt to and fro work everyday and car wasnt an essential for me so i didnt buy. But after switching to do sales, it req me to travel around sg quite a bit everyday so i decided to get a used car. But partly also because i have spare cash and i have enough money to still live comfortably after getting the car haha. i got my car fr https://www.motorist.sg/used-cars few years back and the price was decent i feel. if u want to get a car can consider looking for them. But i will say whether u should buy a car, really depend on how often u will use it and do u really need it bc the cost to buy and maintain it is still relatively hig.

Depends on how you look at it.
Financially wise, its almost never worth it to own a car, since its an depreciating asset.

But if a car brings value to your work, relationships, etc
Then I think its worth it to have one if you are financially able to afford it.

To a taxi driver, his/her car is an income generating asset. And depending on your profession, a car might help you to be more efficient.

A parent with a car might find it valuable as they fetch their child to and fro school; giving them time to communicate and learn more about what their child is going through (having a good relationship with your loved ones will always be priceless).

So it really depends on why you want the car and what impact will it bring along.

Hi there anon,

Agreed with what Clarence shared! If having a car value adds to your lifestyle (work, family, friends, hobbies .etc) and if it outweighs the high costs incurred in it (getting your license, COE, car's cost, maintenance, petrol .etc), then I think you should get it.

I think both public transport and driving your own car have their own perks. I personally wouldn't get a car because I am relatively satisfied with our public transport (compared to some other countries) and other transport alternatives like Grab & Gojek.

If you're looking for more information & analysis, here are some helpful Seedly articles about driving in Singapore!

1. How much should you be earning before buying a car in SG: https://blog.seedly.sg/buy-car-how-much-should-be-earning/
2. Cost of getting a car in SG 2019: https://blog.seedly.sg/factors-cost-car-price-singapore/
3. Driver's license costs in SG: https://blog.seedly.sg/cost-driving-license-singapore-private-vs-school/
4. Petrol price comparison in SG: https://blog.seedly.sg/ultimate-comparison-petrol-station-prices-best-credit-card-fuel-promotions-singapore-sinopec-shell-esso-caltex-spc/
5. Other 'Transportation' articles on Seedly: https://blog.seedly.sg/category/financial-lifestyle/transportation/

Hope they help!! :-)