Why Are Cars So Expensive in Singapore? | Street Interview
ฝัง
- เผยแพร่เมื่อ 7 มิ.ย. 2024
- The views expressed in this video do not represent that of Asian Boss or the general Singaporean public.
We hit the streets of Singapore to talk to locals about their car prices and to find out why Singapore is the most expensive country in the world to buy a car.
0:00 - Preview
0:13 - Intro
0:59 - Are you a car owner?
1:45 - What car are you driving?
2:45 - What do you do for a living?
3:25 - Why did you buy a car?
5:16 - Comparison to US car prices
7:45 - Supercar owners in Singapore
8:06 - What do you think of car owners in SG?
10:14 - Why are cars so expensive in SG?
12:00 - Explanation of COE
13:23 - Advice to foreigners
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Having the option to not have a car and still able to live your life comfortably is by large a luxury of its own.
Actually, owning a car here in most circumstances is considered a privilege. In fact, most people don't drive because the public transport networks (bus and the metro/MRT) are very extensive and are still being expanded. Perks of living in a country with pretty awesome public transport
Yeah, that's true. Public transport is really convenient here and it's definitely cheaper than having to buy and maintain a car. Plus, it's much more environmentally friendly!
Perks of being a city state
@@priscilladc92I've vacationed in Singapore but never took the metro. The people interviewed in this video say it can take 1.5 hrs to travel across the city. That doesn't sound very convenient for such a small city. I am actually quite surprised.
@xiphoid2011 Singapore isn't a "small city", its literally as big as New York City. And if you take a look at the metro map, there's many stations too. Also, the 1.5h you cited from the video is just an estimate
@@xiphoid2011the 2hours is the entire length of the country
A Singaporean said she was disappointed that a car is not a luxury item in Canada but a necessity. Owning a car does not feel elite in Canada.
depends on the car
what does she expect?
It's the same in Malaysia or USA, unless it's a BMW or other European brands.
Then go get a luxury car lah
I know a friend who complained constantly about high price of BTO flat. Yet he owns a brand new car costing him more than $200K which allow him to drive for only 10 yrs.
Even without a car, a bto is still expensive.
vanity is a common disease in Singapore
I'm not a Singaporean but if I'm not mistaken, the COE only valid up to certain years and similarly you can only own a car for certain years before they must be scrapped, so not only purchasing a car is expensive, owning a car as well suppose you want to own them for your lifetime.
The reasoning is logical, Singapore is a small country so if everyone can afford a car, it will defeat the purpose of driving the car itself when traffic jam added minutes if not hours to the travel time.
Seems logical in theory, but since it's a bidding system, it's the wealthy against the super wealthy. The average person can't even be in the circle even if they really need the use of a car. Perhaps there are exceptions for those in certain low income groups that I am not aware about.
Yet the system is broken
10 years. you can renew after the 10 years is up
@@grozaphy for the same price a new coe would be. Which is insane
ONLY In SG where a Single Pdt can be Taxed 8 TIMES in 8 Different WAYS.
4G is ADDICTED TO💰💰💰
This Multi Level Taxation on Vehicles in SG that makes it THE MOST EXPENSIVE Country for Car Ownership.
Vehicles are Slapped with 8 Different Taxations on A Single Product
- Import Tax
- ARF
- COE
- Registration
- Road Tax
- ERP
- Petrol Tax
- GST
It is A Well Devised System to Squeeze the Citizens in Multi Faceted Taxation System.
61% Voted to Be SCREWED
A car is usually not a symbol of wealth. It is a symbol of debt.
Debt is not a bad thing if you know what you are doing. If you know, you know.
In Singapore's context 100% debts
Lmao.. You are poor.
Public transportation is always better.
@@maramba32 depends. If always packed and break down like how it used to a lot few years (5-10 years) back, I rather have the option of having my own transport.
Only about 13% of Singaporean owned a car and out of it more than 50% struggling to maintain the car hahha
I feel that if you do not have the cash to buy the car (and have to take a loan) then you cannot afford to buy that car... save up more before purchasing the car. Drivers who own cars should not have to worry about the costs involved in maintaining the car, just pay and drive.
@@TwodaaeI agree. Buying a car with loan is just silly
For those that do not know or don’t live here, due Singapore being a really small country, the government implemented a law way back in the day, that only a maximum of 1 million vehicles are allowed on our roads at all times thus the high prices of cars here in Singapore. Anyway, because Singapore is pretty small so cars are not a necessity in this country plus our public transport system is pretty good already. The only reason why you would be willing to spend on a car here is if you have a family or if you just wanna flex your financial muscles.
Tbh our public transport is decent but not that great. Its nothing like Seoul or Tokyo, where stations are 5 - max 10 mins walking distance apart, and supermarkets/affordable convenience stores/pharmacies are found everywhere. In those cities, they dont have COE, but very few people who live in the cities own cars as they can easily settle their day-to-day needs without one.
Here, most people need to frequent a mall to settle weekly groceries/basic needs. Unless u live right above or opposite the mall, people who are older or have medical conditions or families usually struggle to complete these activities using pure public transport. A car is a necessity in such cases. Unfortunately what should be a necessity item as it is in most countries is now just made purely a luxury/flex item by the government.
@@kastrokat6277 Yup I definitely agree in terms of Public Transport Accessibility, we cannot compare to Seoul or Tokyo although we might probably catch up with the opening of more MRT stations in the new few years. And yes I can also agree if you are living with old folks or people with disabilities, having a car would be most helpful.
Yeah, that's true. I've heard about this law before. It's really interesting how it affects the car prices here. It's definitely something to consider when deciding whether or not to buy a car in Singapore.
@@kastrokat6277In terms of distance between stations, maybe SG is not comparable to Seoul but definitely comparable to Tokyo. I picked out random pairs of stations for each and the distance range for Tokyo is 2.2km to 6km and the distance range for SG train stations is 1.3km to 4.4km. Of course, they aren't gonna be the same throughout all the stations but you get the general idea that the distances aren't too far apart. Like many Singaporeans, I've walked from station to station before and as long as you're near a hdb estate, you'll 100% see a supermarket (and coffeeshops) or 2 along the way. In my 30+ years of living in SG, I've never once needed a car for groceries (I started buying groceries as a kid of 9 - 10 years old)
Hopefully Singapore can build a lot more dedicated bike paths and bike parking areas as well
Lies again? Captain Of Euro USD SGD
I don't think you understand what weather in Singapore is like. Just going outside is difficult. Biking? Are you kidding me?
@@harveykim2525that sounds like a you problem
@@wurbski Watch the interview. Even the locals say that the weather is very challenging.
@@wurbski Actually a everyone problem since everyone is affected by humidity
Good video !
Cars are symbol of wealth here in my country, but foolishly many prioritise buying a car than a home and ended up where they have a car but didn't have any garage to put them in
Singapore people seem like great people.
Power to them, I wish them more success!
Things took a dark turn real quick when the guy admitted he only bought a car because his parents were at the tail-end of their twilight years...
Nice topic.
"Great video, Asian Boss! I really enjoyed learning about why cars are so expensive in Singapore. It's fascinating how the cost of owning a car is influenced by factors like limited supply, high taxes, and the Certificate of Entitlement (COE) system. The interviews with locals provided valuable insights, especially when it comes to the impact on everyday people and their decision to own a car.
It was interesting to see the comparison to US car prices as well. The huge price difference between the two countries really highlights the unique challenges faced by Singaporeans when it comes to car ownership. It's also worth noting how some individuals mentioned the prestige associated with owning a car in Singapore, especially supercars.
I appreciate the efforts of Asian Boss in bringing us these thought-provoking videos that shed light on different aspects of life around the world. Keep up the great work! Looking forward to more informative content like this. 🚗💡💪
Salamat, Asian Boss! 🌟🙌"
Love Holland village! Nice interviews and good diversity to get an idea. It boggles one mind if you hear this for the first time, all those unique rules and tax system
I don't understand why all these people don't understand the main reason as to why the car pricing becomes way too crazy is to control the limitation of car ownerships and also to reduce the amount of crowding that will become an issue if population keeps on increasing whereby the plot of land still stays the same just like in Hong Kong..
You have to be impressed with us millenials. Im still at 5:16 but Im proud that most or relatively some of us millenials here in asia now know what "NEEDS" and "WANTS" are and still have a healthy discussion with someone about it 🎉
Im proud of us
They don't know that "can afford" is subjective though.
@iloveyellow7214 Proud of common sense? What?
If you were someone who's already 27+ and still cannot manage needs vs wants you wouldn't be in a great place financially today.
"need" and "want" equals to a term that either are u rich or not bo to afford...
I don’t know where you’re getting your numbers from but the base price of a Toyota Prius in the US is about $27,000 USD BUT I’ve never seen it sell at that price. If you go to a dealer, you won’t find one at that price. Average price is about $45,000. I shopped for one last year.
$45k... still cheap vs a $200k Prius in Singapore
I got a 2019 Hyundai Avante last year for $78k SGD for family and work, definitely not that cheap as compared to other places. But in the US I guess you can call cars a necessity.
pretty sure when the prius came out at the beginning they were under 30k
Once again, I salute the Singaporeans commenting here and explaining to the audience why prices are high and rightly so. Good to see the unity everyone is displaying here. Cheers.
The economic costs of traffic congestion is really the end goal here.
If everyone unites and plays their part, which most are, we then have our wonderful economy that is part of our national defence =p
Sure bo? Then why when come to msia side, keep say envy we can own more than 1 car 1 bike at home? Middle class Sg is trapped in this debt till cpf withdrawal time. Maybe is okay u can con those "farang" or "angmo" viewers siaaa...almost all complain about outdated COE system and getting bad to worst public transport system...don't take comparison of the public transport system if u live in central or CBD area compared with mid class workers that work at the fringe of Sg yaaa..everytime when talking to their neighbour countrymen, keep envy we can own multiple cars and bike parking at home...
I would happily to take their public transportation for everyday commute than to own and driving a car in Jakarta
I feel you man 😂
There's not even space for scooters because the concept of lanes or traffic rules don't exist.
@kevinvenxik5045
That is the issue with Jakarta’s poor road infrastructure planning and growth. Nothing to do with the convenience of owning a car.
So true traffic jam in here so horrible
It is not just buying a car. A certificate of intitlement (COE) is needed. I believe it is 120,000 Singapore dollars now.
So the certificate may cost more than the car some of these people have just bought.
120 SGD is not too outrageous. Maybe you re missing a few zeros at the end?
120k
@@clownfish7776 I stand corrected as I missed out the k
Is 150k now not 120k..😂
ONLY In SG where a Single Pdt can be Taxed 8 TIMES in 8 Different WAYS.
4G is ADDICTED TO💰💰💰
This Multi Level Taxation on Vehicles in SG that makes it THE MOST EXPENSIVE Country for Car Ownership.
Vehicles are Slapped with 8 Different Taxations on A Single Product
- Import Tax
- ARF
- COE
- Registration
- Road Tax
- ERP
- Petrol Tax
- GST
It is A Well Devised System to Squeeze the Citizens in Multi Faceted Taxation System.
61% Voted to Be SCREWED
Thats good. And permit is really expensive too.
Car is sg is like a monthly subscription. You pay for what you use..or rather you’re paying salary to your car
Honestly i feel that since car ownership has a limitation in SG, COE shouldnt simply be open market and common price for all. I think the pricing of the COE should be pegged to the car owner's NOA. There are families, people with disabilities/medical conditions who require a car for convenience, as public transport may not well serve their needs. For now car ownership has become "a luxury"/ "rich people sport", when it shouldnt be that. The higher income tiers can afford to pay the higher COEs and are the ones driving up the prices, but certainly not the average joes.
every year people feedback to straits times, LTA always give canned replies with usual transport control measure excuses. pap need lose more GRC to wake up and ask what this means to average joes which are majority people.
Go to a big country, all average joes can own car.@@alvin67788
yow this guy talks about having a car is a luxury thing, he became a philosopher rq. respect
As with most countries, there are things that are cheaper and things that are more expensive. For example the medical care/health insurance system in the US is a mess. Even with "insurance" you could easily end up in financial ruin if you require a major procedure. Also the fact that eye care & dental care is separate insurance you need is stupid and just another expense.
I agree. I don’t understand why dental and eye insurance is separate in the USA. They are very important. Makes no sense.
main cost driving up the cost is coe , decades old bidding system. It should be replaced by income based and balloting system similar to hdb. Everyone entitled to only one coe per ten yr with minimum say 30k coe. Higher capacity extra tax. $5k admin fee for background checks.
I was happy with using public transport and never would've bought a car if where I live now had it
Same as in Indonesia 🇮🇩 , the car tax is extremely high, u could purchase 2-3 cars of the same model in the US with the price in Indonesia, therefore only wealthy ones could afford it, even secondhand cars aren’t cheap also 😆
Damn I thought you guys have cheap cars
I guess I was wrong.
@@cocaineminor4420 haha nope, here it’s 2-3 times the price in the US 😂 That’s why having a car is equal to social status here, a luxury.
@@cocaineminor4420don’t you want to know the annual tax that must be paid for owning a car… and the roadside illegal parking payment… 😂
Actually car tax is usually quite high in neighbouring countries. Especially conti cars, for instance in thailand a brand new bmw series you can easily buy 3 to 4 of it in US.
Buying a car in Singapore feels like a total rip off.
It`s a tax. Singapore pays the most tax in the world when you consider housing and cars. But these are conveniently removed from the current price index basket of goods.
Rip-off forever.
Not many realizd the importance of car, when you start aging you will know how much this helps for the elderly to move around instead of taking public transport.
Anyone can afford a car in Singapore if he is willing to do some delivery jobs part time. That will pay for the instalments.😊
I paid US$500 for my first used car in America and US$2000 for my second car.
I'm jealous😢
Yeah because public transport is almost negligible in the US. It’s not accessible, not efficient & dangerous. Tons of junkies, criminals, crazy peeps etc
@Timholle don't forget corruption, didn't you have a big corrupt lady/ government scandal?
how much those car in Saudi / Indonesia?
The wants of the many outweighs the needs of the few.
South East Asia is so damn expensive even if Japan is next to it. A GR Toyota Supra is like 55k USD in USA, but well over 80k USD in Philippines/Thailand/Singapore.
It's actually good thing to prevent the emerging of ridiculous car centric nation like the USA.
@@gedecandra7722yeah paying 80k for a Corolla is a good thing 😂 Singapore sounds horrible
@@mimioize1634It's not
@@mimioize1634
ONLY In SG where a Single Pdt can be Taxed 8 TIMES in 8 Different WAYS.
4G is ADDICTED TO💰💰💰
This Multi Level Taxation on Vehicles in SG that makes it THE MOST EXPENSIVE Country for Car Ownership.
Vehicles are Slapped with 8 Different Taxations on A Single Product
- Import Tax
- ARF
- COE
- Registration
- Road Tax
- ERP
- Petrol Tax
- GST
It is A Well Devised System to Squeeze the Citizens in Multi Faceted Taxation System.
61% Voted to Be SCREWED
Alot singaporeans have the typical mindset that neighbouring countries cars are cheaper. Yes perhaps for some japs car but if you are talking about luxury or fancy cars. The price is around the same as SG.
2:17 A coop is where you keep the chickens. It's coupe.
Car prices are definitely insane in Singapore! I grew up half my life in Singapore and now live in the US. I am in a position to own multiple cars here now but if i were to still be living in Singapore, that will definitely not be the case.
You do know US is way bigger than singapore right Over there cars are considered as a need. People need to travel to other states or cities. And public transport is not that convenient like singapore. So you can't really compare withUS.
The guy with the Audi A5 coupe is the Singaporean version of Alex Albon. 😂
except that his english cmi
Maciam kepala buto 0nly😂😂 luxury 😂😂😂
@@chua5016agreed. His english is atrocious but he did bring some good points across
Yeah man sorry for my English hahahaha I never finish study that's why , btw I'm the A5 coupe driver
@@babiutan06 bro kau kerja APA? The Audi is excellent. Congrats. Well done.
If someday we all go to prison for downloading music, I hope they split us by music genre.😂😂
Jesus loves you ❤️ please turn to him and repent before it's too late. The end times described in the Bible are already happening in the world.
Would be awkward if you're into trance😂
I saw lamborghini svj in singapore near orchard rd I was super excited to see
How do government regulations apply to companies that own trucks for delivering essential goods? Are the same rules enforced on them?
I'm not an expert but afaik there are categories, so goods vehicles are in a separate category
To each their own ..
Take a typical normal sedan brand new Toyota Camry @ 260k for 10 years ownership
Car operating cost estimated at 70% of the purchase price over 10 years
Above excluding interest, unless one is taking a loan
442k over 10 years
or $121 a day to own a private transportation
(Not forgetting non car owners need to spend money on taxi or public transport daily too)
Say if you take 2 hours by public transport, and 30 minutes by driving to work one-way
You save 3 hours a day with a car, and are able to ferry family, run errands and do more things with that 3 hours. Even just catching more sleep is good.
If the car can bring back more "value" than said cost, it justifies the purchase financially.
If not, then you're paying a premium for that experience, emotional and personal appeal, which is non-quantifiable
Cheers
How about the Singapore Government gives these limited COEs to the people by a lottery? People would apply for COE regardless of their income. On this way they could still keep the amount of cars low. That would be a fair system
4:12 isnt he a mediacorp actor? i think he was on meet the mp with oon shuan and aaron aziz
Never had to drive in Singapore, the public transportation is world class. The COE is a form of luxury tax because there is little necessity in owning a car when you can use buses, MRT, cabs or ride hail apps. Singapore is just a small island & these days the buses even stop and assist wheelchair bound folks.
it would be cool to hear some asian countries peoples opinion on the Israel-Gaza war. Like you did when the russia-ukraine war started
What’s with all the small car engine in Asia?
I suggest buy a second car as your first car... there are much cheaper options but coe remains the same...
How much for a motorcycle?
the reason i bought a car is because I got 2 kids. My house is far from mrt and bus stop. Both of my kids hates walking. Is quite hectic bringing them out using public transport. Normally before reaching shopping center my armpit and my ass already starting to sweat😂
🤣🤣
Terbaik 👍
It used to be 'kinda' affordable 10-20 years ago even with the coe which cost around 60-70K. but now it just doesn't make sense to have a car depreciating 20K each year which only last u 10 years
Wrong. COE price was low from 2018 till early 2022. It's risen now only because back-to-work singaporeans are bidding against each other. And car rental companies are adding to their stock after the new vehicle shortages of 2022 and early 2023.
I renewed my COE in 2018 for $26k
I also heard getting a singapore license is like getting a celebrity status. It’s really hard to pass in the driving center.
Not really uk and Germany is probably harder
Singaporeans don't seem to realise that the premiums that they/we pay for the cars, result in us having a super smooth driving experience everyday without the horrendous traffic jams you see in most major cities as crowded as us.
@MrJonslife
No it doesn’t, it just deprived less well to do citizen families of having a decent family car. A sign of the Rich getting richer while the poor is getting Poorer.
@Callsign-Blade_RunnerSG He can't help it. He's rich so he doesn't care about the rest who can't afford a car. He just loves his smooth driving experience yah.
@@Callsign-Blade_RunnerSGthis is an example of rich getting poorer 😂
@@Callsign-Blade_RunnerSGthat is in Malaysia lah.. without car they are handicap.. Singapore is more about choice.. no car can save more money😂
You would have think that a 100k coe will drive demand down; sadly, It did not.
It’s great for Singapore putting car prices very high because it will cause traffic jam and accident
Another country should do this too but some country has very bad public transportation system so I don’t think another country can do this
Other countries can never do this because they land size is much bigger than Singapore They have many states and cities and people need to travel around. And usually public transport is only available in the capital or major cities. So cars are considered as a need over there whereas Singapore itself is a island nation. Public transport cover the whole island so there isn't really a need to own a car.
I just learn in Canada insurance can be stupid expensive even if you have a license for few years that why my close family member one of kid use sky train every day to go to work when I was there I saw how many people without cars waited for the train and bus just to go to school or work I’m glad to live in US car insurance for my 2019 accord is $400 max like I get a Audi e tron EV it could get up to $2,000.
I stop to own car after 2017. We are able to save money for more oversea trips, including Antarctica.
I will stop owning a car when my kids turn 5-6 years old🤣
A Prius is about $30k in the US (S$40k)
It’s true that car is symbol of luxury and people who don’t own it’s richer than car owner but if car owner is wise and don’t mock anyone it will be fine
Then again, Singapore is not that huge and mass public transportation facilities are enough, so I can understand why they don't need a car
Is it USD or Singapore dollars
1:22 isn’t that Ga Hao?
judging from the answer from the interviewee when asked why do you own a car it does sound like a sensitive topic in singapore lol
I planning on buying a car that cost $25k usd or above, if y’all don’t know Donut release a video a futuristic car that’s worth spending on. And COE is high as hell, now 100k I think, my dad say it was 10k in the past. At this point, I rather built a jet pack
it's not 20k in the US. it's like 40k for a car now
My friends owning a car mostly for kid’s school & enrichment classes ferry.
I visited Singapore for two weeks to visit my brother and it was an awesome stay, the fact that I can go anywhere easily with public transport is a gem, not having to drive and just relax or sleep while commuting after work is a huge boon I wish I could have in my country.
It seems to me the Singaporean government is doing everything to prevent people from buying vehicles but somehow Singaporeans see owning a vehicle as a matter of pride and luxury that they are willing to overlook the outrageous costs and severe limitations just to get one.
The COE starting at $120k alone is nothing more than giving the government free money in exchange for a piece of paper that says you are entitled to own a vehicle for ten years, the cost of the vehicle itself can be at least 2 or 3 times more than the market price not counting the insurance and road tax. Fuel prices in Singapore is also much more expensive that other countries.
Instead of COE system which only the wealthy can benefit the government should perhaps look into allocation systems that is fairer (each family is entitled to one etc)
Exactly
Why is one "entitled" to a car regardless of one's earning abilities? You want to force poor singaporeans to buy a car if they cannot afford one? Aren't you playing into the hands of car companies and encouraging consumerism?
@@scbchong6964 Of course it can be optional like HDB subsidies for families with children. Most of the average families are struggling to even earn 30k a year and some of the interviewees in the videos have highlighted how families with children need a car more however they can't afford it.
Additionally in what way does the COE system helps at all? I don't see the roads free of traffic jams and price of COE keeps going up.
You hit the nail on the head. The COE system is an artificial scarcity created to line their coffers.
"but somehow Singaporeans see owning a vehicle as a matter of pride and luxury that they are willing to overlook the outrageous costs and severe limitations just to get one."
Over time, it will just be a "it is what it is" mindset. "I only live once. COE is something that I can't control." "Money can't be brought into the grave." "Why worry too much and save for old age, when you won't have the energy to enjoy"
I mean that just means every family has 1-2 car rather than 2-4 in USA . Not that big of a difference if you look at it like that. Per capita in singapore is high so its not like they cant afford jist 1 car per household
You should go to Burma
Hey Asian boss!!!
Come, let make a guess.
How many time is the US bigger than Singapore in land size?
US is 13,508 times bigger than Singapore.
Even the smallest state in US (Rhode Island) is 4.31 times bigger than Singapore. Not forgetting Rhonda Island population is only 1.05mil compared to Singapore 5.6mil population.
What would the traffic conditions be like in Singapore if the cars were as cheap as the US?
Any human with a brain will know that Singapore has no choice but to sell her cars with that price.
In a free market system though, couldn't they just have normal car prices, and let the market determine if there is too much traffic due to too many cars? I don't think it's the government's job to limit car ownership...
Or you could always improve the road infrastructure??? Roads on top of roads, roads going in and out of buildings, multi level highways, flying cars
@@1988kcmo Govt's job is to run the country properly. Having too many cars and causing major traffic jams is not what a good govt would do. The free market is not always rational and this is one particular situation.
You sustain economic losses if people are stuck in traffic doing nothing.
The free market system cannot be applied to everything.
Should the free market let all the rich Chinese come and buy out all our private property leading to even higher prices? So locals end up going into the govt housing market which in turn also goes sky high? A person coming from a place of logic and understanding of how the world works would know you need govt controls. Oh but govt controls are against free market principles, is the govt bad for wanting to manage property prices?
Similar to car ownership.
Well said. Alot singaporeans just blindly compare other countries car prices. But they have to know other countries are way much bigger than singapore. They have many states, provinces and cities. And i believe public transport is only available in the capital or major cites. So for them cars are considered as a need whereas whole SG not even the size of their one city and the whole island is cover with public transport.
Well I dk how this works, but maybe Singaporean can buy tesla from msia, because the new facelift tesla model 3 will start selling here at the end of the year for RM189K, this is like uh less than 60k sing dollar.
Cant drive it in sg w/o vep
They use a heck lot of "Yahs". LOL
I felt like the recent videos are portraying SG to be a ridiculously expensive place to stay in, and now with the "absurd" car prices. what people don't understand is, if everyone in SG can afford a car. be prepared to be stuck in traffic for hours just to get home from work. I experienced it first hand in the cities of China and Indonesia and it is crazy. The public transport in SG is so efficient and convenient but it feels like in SG, a car becomes a "need" to be more convenient and also a symbol of status. I didn't get a car till my mid 20s due to the nature of my work, I found it way more affordable to just cab about without the hassle of owning a car. SG is expensive because of the wants and not the needs.
Singapore too expensive.
We are underpopulated, so why can’t everyone own a car? It is not like we are overpopulated.
I'm quite sure even with coe , jams are pretty bad still on highways during peak hours where it matters the most
@@aloysiusgoh1278yea at most 30mins? wait till u see the jams in the countries I've mentioned.
@@adamtay-zp2bxthat's a first to hear that we are underpopulated 😅
The Auntie is funny. She owns a car and says it’s convenient, because she no need to walk to MRT and bus and it’s easy to carry goods after shopping… But, when asked for foreigner, she ask them not to buy a car and say public transport is very good in Singapore!!! Haha! 🤣
I think she don’t want to share the quota with expat! So kiasu! 😂
Are u expat? Living in your dream bubble central/CBD area where public transport is the best? Don't compare a "blur sotong" expat with the ordinary SG citizen and the Sg citizen I referring to is mid class Sg families...
@@ae101rulez Angry KIASU!!!The aunty in the video must be you mum!🤣🤣🤣
Status is just a Superficial thing, what counts is your bank statement.
Good video. I suggest doing a video on ways to make this entire system fairer and more equitable for all. The COE price does not prevent congestion. In fact, it may even contribute towards more congestion. The entire system needs to be overhauled. Excellent take on the current flawed system and changes needs to be done - th-cam.com/video/2SH1mWLJNKI/w-d-xo.html
Low car price will be a nightmare for the traffic. the public transportation is very convenient. no need to pay too much on debt.
Do we actually need a car for most?
I find the Singapore accent so interesting.
You guys didn't get to the most important reason on why cars are expensive in Singapore... It being a super small country, its gov puts high cost on owning cars and the number of cars a family can own
For me lah why the cars are so expensive in Singapore because Singapore is small, so if the government make the car cheap then the country will be full of cars. That's why the government want to make people taking a public transportation instead of having their own cars. To save space without having too much cars in a small country.
Singapore is so small and crowded, public transport is good. There is hardly any need for a personal car.
TBH as a Singaporean, the public transport here is fantastic and practically reaches everywhere that most people want to go, mostly on time and reliable. If one wants a bit more convenience, ride hailing services are easily available, widely used and are relatively cheap. With this alone, it makes it hard to justify needing a car for more convenience, in fact i think it comes with own inconveniences and costs (parking, insurance, road tax, petrol, car wash, etc).I don't imagine car ownership is a need for most people here unless you have young children (like < 10yrs old), elderlies, job requirements, etc. Other than that, it's purely a want and a luxury or for some, a hobby.
Ya the bus train drop you at doorstep
That's true. It's really convenient to get around with the public transport here. And it's definitely cheaper and easier to not own a car. Unless you have special needs or want a car for leisure, it's really not necessary to own one in Singapore.
Ya ya ....where u live? central? CBD area? People Living in Jurong but working in bedok takes 1 hour plus daily... efficient my foot.
It’s a passion for many
That's insane! i'm from m'sia, i own 3 cars now, its a must if you have a big family to move around. with that coe+ car prices, car owner must be really rich there 😮😅😅
Malaysia is very big. Cars is a need over there and i believe public transport is only available in KL and some major cities. But look at SG, the whole island is cover with public transport.
@@user-lz5fo9gr9c that's i understand, but for a Bachelor without a family, i think is alright, but for a family, like meself, a car is a must to do errands, working etc. its not a luxury but a necessity. I do live outside KL.
- The THING is the NOSE RING !!!
Wonder how much a Tesla cost there... Video didn't show any Tesla drivers... In where I live there are more Tesla's on the road than Civic
The cutie in the blue shirt knows Elizabeth!!! エリザベス! ナイス!👍
Now you know. Need to work in banking industry haha now Honda civic 2023 is 190k I can’t believe.
holy cow 1sgd is 1cad. 300k for a car is way too much wtf
It’s because of the private hire vehicle fleets and the car sharing fleets that the private companies are aggressively buying and competing with the citizens.
Since there is a limited amount of COEs available, the private companies use their economies of scale to swoop up the COEs that’s available and purposely bid it to an exorbitant prices due to supply and demand. Since people won’t be able to afford the cars due to the crazy COE prices, they will have no choice but to use the PHV and car sharing services.
Now the citizens have been asking the government to put regulations on these companies and separate the COE category for such companies, like what they have done so for the taxi companies but why would they do that? The government is laughing and enjoying the extra revenue they are receiving.
Higher COE cost also translate to higher prices of commodities due to the higher cost of transport. Additionally, the PHV and car sharing companies can sell their older vehicles at a higher prices from what they have purchased when the COE increase. It’s just a win win situation for the companies and the government while the citizens who really need cars suffer.
True. This statement is the most right about the situation in Sg...rather than those "fake" bubble dream who say save environment, save lanjiao...those mid class families that really need a decent A-B transport are the one suffering due to money game and poor gov regulations loophole
bro...u do understand what "economies of scale" means right? You think government gives a discount if u buy 10 COEs? You don't get any EOS with regard to car purchases.
Also...u contradicted yourself by saying they used their EOS (meaning getting it cheaper), but then say that they bid at exorbitant prices...what does that even mean...so are they getting it cheaper by EOS or are they overbidding?
Also...no choice but to use PHV/carsharing regardless of prices? Public transport? Which sane company would increase they costs by over bidding just to compete against a publicly owned public transport?
Just using big words for the sake of it...gosh...
@@bcsianliang1568 Yala u very good, come everyone clap for this guy 👏👏👏
Odd I see this now I was looking into buying an i4 it was close to £60k he paid equivalent of £176k 😮
Putting aside the high costs (which is the reason for what follows), driving in Singapore is a genuinely pleasant experience. Traffic jams are not as bad as most of other cosmopolitan centers. And if there are jams, there are alternative routes which just add just a bit more time to your trip. Despite the high values, car theft is almost non-existent. Road infrastructure is well maintained and quite safe. In fact, you'd be hard pressed to find a junction which does not have a traffic light.
This is why Singapore are the "crazy rich asians"
I watched till end.....So what's the price of the Toyota Prius? 🤷😂
A car these days is not a Luxury, depends on what kind of city you live, if public transports are awkward well you definitely need a car otherwise you cannot go to work in time.
Getting from Changi to downtown takes double the time on train compared to car...
Tried it last year and i am leaving for changi on SQ again next saturday...
It shouldnt be a big deal unless you're travelling constantly
@@mahomisawa4172 It is a huge deal and when I was overseas, I realised the commute time is insane. Take for instance, in SG, if I travel to City Hall, I need 49ish mins. Thats the same time to travel from Glasgow to Edinburgh, a whole different city
To be fair, how much traveling time do you need to save each year to warrent the cost of owning a car?
And the time it takes to park your car, maintain and repair it, do the paperwork for it, the car washes, the insurance work, etc? Did you forget about all that? If you want a car like that, it's called a taxi.
It takes a few minutes to buy an EZ-Link card, and maybe 1 minute to top it up every so often.
@@Rsconquest judging by our shitty public transport, not a lot