It’s a well-known fact that owning a car in Singapore is expensive. Besides the cost of buying the car itself, there is still a whole other list of costs involved to keep your car in good condition. Here is our breakdown of the running costs, hidden costs and other fees involved in maintaining a car in Singapore.
To keep things simple, we will be using the top-selling car in Singapore in 2019 as an example: the Honda Jazz.
Making sense of car costs
We’re going to be looking at a lot of numbers in this article. To make sure we don’t get lost, it’s helpful to organise car costs into the following breakdown:
- Purchase costs: What you have to pay when you buy the car.
- Maintenance/running costs: Expenses incurred in the daily use and periodic upkeep of your car.
- Hidden costs: These are not immediately obvious, like parking charges, but you’d want to be aware of them.
- Average annual cost of keeping a car: We finalise the magic number for you after taking everything into account.