Thursday, December 4, 2014

Car ownership in Singapore

I passed this Rolls Royce sitting on the street while walking back to my hotel.  Car ownership in Singapore is expensive.

Initially you must purchase a Certificate of Entitlement.  The COE is good for 10 years.  Small cars (less than 1.6 liters) are about $50,000 while larger ones are about $70,000.  The purchase price of the car is then taxed at 110%.  A small car with a "window sticker" of $30,000 can end up costing well over $100,000.

Having that much invested in your ride might give some people second thoughts about parking it on the street.  If you can afford to spend upwards of $1,000,000 for your ride you might want to keep it close to home like this guy.

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