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How much is a 2nd hand car in Singapore?

Author

James Craig

Updated on March 07, 2026

How much is a 2nd hand car in Singapore?

Buying a used car is common in Singapore where car ownership is expensive. Sure, your second-hand car won't have that new-car smell and it isn't as prestigious. But it is more affordable – you can potentially get a Lexus IS250 or BMW 3 Series 320i Coupe for less than $19,000 or an Audi A3 Sportback for under $20,000.

Regarding this, how much is a second hand car in Singapore?

That means your car's Applicable Open Market Value (OMV) needs to be $20,000 or less (in order to qualify for a loan of 60% of the car price).

1. Upfront payment when buying a second-hand car.

PurposeAmount
Downpayment$18,809
Car insurance$1,200
Road tax$742
Total$20,751

Similarly, is it good to buy 2nd hand cars? The advantages of buying a used car

New cars typically lose around 30 per cent of their value in the first three years. Some lose more than this, while other popular models (private sales, not fleet models) often lose less. As a result, it's possible to save a lot of money on a newish second-hand car.

Thereof, how much does it cost to own a car in Singapore 2019?

Here is an estimate based on the profile of a 45-year-old single male motorist with 5 years driving experience, a 0% NCD on a Toyota Corolla Altis. A new Toyota Corolla Altis costs around S$104,998. Insurance costs in Singapore could set you back on average S$1,473 a year.

How much does it cost to own a car in Singapore in 2019?

Vehicle OMVARF Rate
Above S$50,000180%

Is it worth to buy a car in Singapore?

No it is not worth it unless your job requires a lot of moving around, or you live at really hard to reach area by bus/MRT. A basic car is easily $1500/month cost (depreciation, COE, road tax, parking, ERP, gas, maintenance, tyres, etc.). You could use taxis everyday and not spend that much! It is a luxury.

Which is the best 2nd hand car to buy?

Best Second Hand Cars to Buy in India
  • Maruti Alto 800. The first car in our list of Best Second-hand Cars to Buy in India is the Maruti Alto 800, which is also among the cheapest cars in India.
  • Maruti Swift.
  • Hyundai Elite i20.
  • Volkswagen Polo.
  • Maruti Dzire.
  • Maruti Ciaz.
  • Honda City.
  • Maruti Vitara Brezza.

What is the cheapest car in Singapore?

5 Cheapest Cars In Singapore That You Can Buy In 2020
  • #5 Nissan Note 1.2 Lite (A) – $73,100.
  • #4 Mitsubishi Space Star 1.2 CVT Style (A) – $69,999.
  • #3 Mitsubishi Attrage 1.2 CVT Style (A) – $69,999.
  • #2 Perodua Myvi 1.3 X (A) – $67,999.
  • #1 Perodua Bezza 1.3 Premium X (A) – $64,999.

Is it worth buying second hand luxury car?

A used luxury car will still cost a lot to insure, drink a lot of fuel (unless it's something like a Lexus hybrid or a Mercedes diesel) and cost a lot to service and repair. However, if you can meet these costs, then the cash saving on purchase is well worth it.

How much mileage is good on a used car?

What Is Good Mileage for a Used Car? Mileage will vary between vehicles, but a decent rule of thumb to follow is that people drive an average of about 12,000 miles a year. Therefore, 120,000 miles would be a good mileage for a used car that's about 10 years old.

Is it better to buy second hand car or new?

The most specific advantage of opting to purchase a second-hand car instead of a new one is that it facilitates more affordability and hence, increases your savings. You can own a pre-owned car of your preferred make and model at a much lesser price when compared with a new car of the same model.

Why are Singapore cars cheap?

There are 5 main factors that determine the price of a brand new car in Singapore. They are: 1) Open Market Value (OMV), 2) Additional Registration Fee (ARF), 3) Excise Duty & GST, 4) Certificate of Entitlement (COE), and 5) the local dealers' margin. We'll explain what these costs are.

How old should a second hand car be?

A well-maintained 10-year-old car could possibly be a better investment than a newer model which hasn't been looked after. As a very general rule of thumb, a car is usually reliable up to 5 years providing it has been maintained.

How do I choose a second hand car?

How To Choose A Used Car
  1. Find out the market value. This should be the first step in your used-car-buying process.
  2. Carefully inspect the car.
  3. Do a serious test drive.
  4. Get the car checked out by a mechanic.
  5. Get the repair history on the car.
  6. Consider the relationship between a car's age and mileage.
  7. Always be ready to walk away.
  8. Summary.

Is it worth buying a COE car?

COE cars are cheaper than PARF cars. But that cost of a COE car can easily jump if you happen to buy a car with mechanical defects – plus you still need to pay higher road tax as well. PARF cars on the other hand are newer, usually in better mechanical shape, and still retain much of their resale value.

What is the cheapest car in the world today?

The Hyundai Eon is one of the cheapest cars in the world thanks to its current price tag of $5,000.

How much is a weekend car in Singapore?

"Weekend car" rules Singapore

It costs $20 and allows you to drive unrestricted for 1 day.

How long can you own a car in Singapore?

10 years

How much does it cost to own a car in Singapore per month?

Maintenance and Running Costs
Average monthly costAverage annual cost
Petrol$146.52$1,758.23
Parking$110$1,320
ERP$30$360
Road TaxN/A$568

How much is a house in Singapore?

Average Cost of Homes in Singapore
Housing TypeAverage PriceMedian Price
HDB AverageS$532,768S$495,000
Condo Cost OverallS$1,780,051S$1,467,778
LandedS$5,063,507S$3,850,000

How much do I need to earn to afford a car?

If you'd like a cheap, affordable and simple vehicle that's good enough to get to and from work, budget about 10 to 15 per cent of your annual income. If you'd like a safer, more reliable and more comfortable car for travelling to and from work and on using on weekends, budget about 20 to 25 per cent of your income.

How much is car maintenance per year?

Costs climb with your car's age, but basic maintenance services can start at less than $100 per year.

What used cars to avoid?

Worst Used Cars
ModelYear(s) to Avoid
FordFocus2012-2017
FordMustang2015-2016, 2018
FordRanger2019
GMCAcadia2011-2013, 2016-2017, 2020

What is the best second hand car to buy in Malaysia?

Perodua Myvi

The humble hatchback has been Malaysia's best-selling car consecutively for a decade since 2006. With over a million cars sold, it holds a special place in many Malaysian families as a great second car or even as a first car for young adults.

Where is the best place to buy a used car?

Where's the Best Place to Buy a Used Car?
  • Certified Pre-Owned at a Dealership. Buying a certified pre-owned (CPO) car is a convenient way to find a used car in excellent condition.
  • Independent Dealership. An independent dealership isn't associated with any particular automaker.
  • Private Party.

What's the sweet spot for buying a used car?

When you're buying a used car, I'd say the sweet spot is two-three years and 24,000 to 36,000 miles. At that point, lots of cars will have depreciated by about a third. Some more, some less. But with most new cars easily going 100,000 to 150,000 miles, you're buying the majority of the car's life, for a third off.

Should I buy new or used car Singapore?

Although you will be trading off the worry-free experience of buying new from an authorised dealer, used cars tend to be cheaper, and you will be able to have a wider selection of car models as well.

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