Buy a Vehicle
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Buying a car, motorcycle or some other form of personal transport involves more work than simply walking into a showroom, picking out a snazzy model, writing a cheque and driving home. Apart from hunting for the best deal on your preferred vehicle, you will also have to bid for a Certificate of Entitlement (COE) , bid for a vehicle registration number and pay an annual road tax.
Find out more about the policies and procedures related to buying a new vehicle.
Owning and maintaining a car is an especially big-ticket cost in Singapore. So before you make the decision and commit the finances, invest the time to find out more about buying that new car or motorcycle so that you can make an informed decision.
While the option of buying a used vehicle has its benefits, it also has certain disadvantages such as potentially higher maintenance and expired warranty coverage. So be sure to find out as much as you can about a used vehicle and make an informed decision before signing on the dotted line.
Once you have decided on a used vehicle that is suitable to your needs, and are ready to make the purchase, there are certain procedures to note. Learn more about these procedures to ensure a smooth transaction.
The Certificate of Entitlement (COE) is designed to better manage the number of vehicles on our roads so that traffic remains smooth flowing. Potential car owners are required to bid for the right to own a car. Obtaining a COE entitles you to own a vehicle for 10 years from the date of registering it.
A limited number of COEs are released for bidding on the first and third Monday of each month and the bidding exercise typically last three days. Find out how to bid for a COE.
You can bid for a vehicle registration number to register a newly purchased vehicle or to replace the registration number of an existing one. Bids are placed during one of two bidding exercises, the main bidding exercise and the weekly bidding exercise. Find out more about the process of bidding for a vehicle registration number.
Buying a car or motorcycle in Singapore requires a large financial commitment. Few people plan to, or can afford to make a full payment without some form of financial assistance. Find out more about how to finance a vehicle purchase here.
In addition to the costs related to the purchase of a vehicle, you should also be aware of the costs to upkeep your vehicle on the road. One of these recurring costs is your annual road tax. Find out how to calculate your annual road tax here so that you will have a more accurate financial perspective of the overall costs of vehicle ownership.
