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70% of my car cost is coe and taxes... I think


Petamore
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The following is an illustration based on high level estimates:

 

In 2014, new car registrations total 28,932.

 

http://www.lta.gov.sg/content/dam/ltaweb/corp/PublicationsResearch/files/FactsandFigures/MVP02-2_New_Cars_by_make.pdf

 

Proportion of luxurious car (my definition mercs, volvo, etc) vs bb cars (my definition toyota, subaru, honda etc) is 50:50. Just an estimate for illustration purpose.

 

Basic new car price 100K

Maximum 200K

 

Average 150K

Coe of an average car 70k

Import taxes etc 40k

Total coe and taxes 110k

 

Estimated coe and taxes collected in 2014:

 

28,932 cars x $110,000 = $3,182,520,000

 

That's $3.2 billion and the amount excludes commercial vehicles and taxis.

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Well I know mine is.

COE is 70k

OMV is 19k

ARF is 9k

I paid 113k for it.

Depreciation about 11k per year.

I let the dealer make 15k nvm lor.

Compared to the 50k that PML makes 15k isn't much.

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Just side track a bit, some people I know of, they earn quite well yet they don't drive as they think that car ownership in Singapore is a very high expense with no returns. And so they choose not to own a car but to save. They become quite rich after many years.


Car ownership is a bit like drugs, once you started it, you cannot stop. Because it is so nice but so costly. lol.

Edited by Ingenius
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no wonder our MCE road so smooth and quiet. :D

Lol. That is mce bro. Try taking pie either directions in the morning peak hours. Or try mce exiting to ecp during evening.

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Car ownership is a bit like drugs, once you started it, you cannot stop. Because it is so nice but so costly. lol.

 

Can stop and you have to stop - when you are too old to drive [scholar][scholar]

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With such high cost of car ownership, maybe one should drive more, like up north, to make it more worthwhile. Never driven to Ipoh and penang, hmm, maybe should do it one day.

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(edited)

Another side track, since 50% of new car registration are pretty high end cars ie above 150K (ratio of mercs and bmws against toyotas), it is also quite telling why coe prices can be supported.

Edited by Petamore
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When u drive just drive no need ponder these things, just ensure u can meet the monthly repayments

Actually I ponder, if I get a promotion, should I ;

 

A) buy a b&b less than 120k car + enough saving for a rolex Daytona/ Europe tour for family or

 

B) buy a entry level mid level car in 150k range with maybe Asia tour package for family or

 

C) buy a satki $200k car and can only afford dingtaifong once a mth.

 

Ummm.... Well, let's see will I get a promotion first.... Hehehe....

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Actually I ponder, if I get a promotion, should I ;

 

A) buy a b&b less than 120k car + enough saving for a rolex Daytona/ Europe tour for family or

 

B) buy a entry level mid level car in 150k range with maybe Asia tour package for family or

 

C) buy a satki $200k car and can only afford dingtaifong once a mth.

 

Ummm.... Well, let's see will I get a promotion first.... Hehehe....

Or if don't drive, can bring family to Europe every year !:)

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Actually I ponder, if I get a promotion, should I ;

 

A) buy a b&b less than 120k car + enough saving for a rolex Daytona/ Europe tour for family or

 

B) buy a entry level mid level car in 150k range with maybe Asia tour package for family or

 

C) buy a satki $200k car and can only afford dingtaifong once a mth.

 

Ummm.... Well, let's see will I get a promotion first.... Hehehe....

B

 

Then Tell ur boss about this plan lol

Edited by Thaiyotakamli
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The following is an illustration based on high level estimates:

 

In 2014, new car registrations total 28,932.

 

http://www.lta.gov.sg/content/dam/ltaweb/corp/PublicationsResearch/files/FactsandFigures/MVP02-2_New_Cars_by_make.pdf

 

Proportion of luxurious car (my definition mercs, volvo, etc) vs bb cars (my definition toyota, subaru, honda etc) is 50:50. Just an estimate for illustration purpose.

 

Basic new car price 100K

Maximum 200K

 

Average 150K

Coe of an average car 70k

Import taxes etc 40k

Total coe and taxes 110k

 

Estimated coe and taxes collected in 2014:

 

28,932 cars x $110,000 = $3,182,520,000

 

That's $3.2 billion and the amount excludes commercial vehicles and taxis.

Hence, we are a economically driven...

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Cars are like alcohol and ciggys here in S'pore. Cannot completely ban, so might as well tax the hell out of it and maximise profit.

 

That's the Singapore way.

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Cars are like alcohol and ciggys here in S'pore. Cannot completely ban, so might as well tax the hell out of it and maximise profit.

 

That's the Singapore way.

ya but there is no substitute for alcohol and ciggys.

no car can take B. M. W.

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