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Buying a car in Singapore

1. How much does a car cost in Singapore?

In Singapore, the price of the car generally consists of the Certificate of Entitlement, Open Market Value and Additional Registration Fee. Automobiles are taxed based on their Open Market Value, or OMV.
Vehicle OMV (Open Market Value) Rate of ARF (Additional Reg. Fee)
$0 - $20,000 100% of OMV
$20,000 - $50,000 140% of OMV
$50,000+ 180% of OMV
 

The government in Singapore uses the COE system to control the number of cars on the road, and only release a limited number each year. COEs are valid for ten years and can be renewed for a further five years, or ten years. You can either bid for your own COE – tenders are called for twice each month – or you can leave it up to your dealer. The cost of a COE rises or falls according to demand.

In addition, for a vehicle valued above $20,000, the loan value is now capped at 50 percent, and for a vehicle below $20,000 the cap is 60 percent. Furthermore, banks can now only offer loan periods of up to five years.

Please click here to understand more about car ownership in Singapore.

 

Driving in Singapore

1. How do I obtain a driving license?

If you are 18 years and older, you can apply to take the basic and advanced driving theory tests to get a provisional driving licence (PDL). The PDL will allow you to take practical lessons from a certified driving instructor, upon completion which you will then take the final driving theory test and practical driving test.

 
2. Can I convert my foreign driving license to a Singapore driving license?

A Singapore driving licence is required if your stay here is more than six months. Those who must convert are Singapore citizens who obtained licences overseas, permanent residents and foreigners on work permits, and student, employment or dependent passes.

You must take the local Basic Theory Test before you are allowed to convert your foreign driving license to a Singapore licence.

 
3. I am only here for less than 6 months, what should I do?

You can obtain an International Driver Licence from your home country or from the Automobile Association of Singapore (Tel: 6737-2444)

4. What are the common traffic rules and regulations to follow when it comes to driving in Singapore?
  • In Singapore, drive on the left side of the road (meaning the driver sits on the right side of the car and the overtaking lane is the right most lane)
  • You must be at least 18 years old to qualify for a car driving licence.
  • The speed limit is 50 km/h on roads and 70-80 km/h on expressways.
  • Do not drink and drive. The legal Blood Alcohol Content (BAC) limit is 80 mg of alcohol per 100 ml of blood.
  • Seat belts and child seats are mandatory.
  • Head lights must be turned on between 7pm and 7am.
  • It is illegal for drivers to hold any form of mobile devices (handphones, tablets, PDA, etc) while driving.
 
5. How does the Demerit Points System work?

All new Singapore driving licence holders are issued a one-year probationary licence, which allows up to a maximum of 12 demerit points in the year. Your license will be revoked should you exceed 12 points in the first year. After the first year, the demerit points allowable are increased to 24 points over a 2-year period. Some of the more common demerit points are:

  • Exceeding speed limit by up to 20km/h: 4
  • Exceeding speed limit by 21-30km/h: 6
  • Exceeding speed limit by 31-40km/h: 8
  • Exceeding speed limit by 41-50km/h: 12 (Offenders will be prosecuted in court)
  • Exceeding seed limit by 51-60km/h: 18 (Offenders will be prosecuted in court)
  • Exceeding speed limit over 61km/h: 24 (Offenders will be prosecuted in court)
  • Reckless driving: 12
  • Using of mobile devices while driving: 12 and a fine not exceeding $1,000
  • Failing to stop at traffic light: 12
  • Failing to stop at traffic light: 12
  • Obstructing traffic flow: 4
  • Failing to wear seat belt: 3
 
6. What do I do if I am involved in an accident?

For minor accidents where there are no injuries and vehicular damage is slight, it is common for both parties to settle the matter without going to the police. You should still exchange particulars with the other party and take down the vehicle's registration number. However if you intend to submit an insurance claim, a police report must be made within 24 hours. Of course for accidents involving injuries, call 995 immediately.

Brought To You By Wearnes Leasing

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