[RandallNeighbour]

Originally posted by clubhead
Ha, ha. Yes, cars here [Singapore] are incredibly expensive, not to mention each is restricted to a max lifespan of 10 years Well, like they say, humans adapt to things and we're sort of used to it already.

Mine is a year 2000 Boxster S and I paid about US$110k for it a couple of days ago. A brand new model would set us back by about US$195k depending on the price of the entitlement certificate which I will explain below.

To own a car, one has to bid for a Certificate of Entitlement (COE). The price varies between US$12k (current price given the bad economy) to a max of US$60k when economy was good. Once you get a COE, this will enable you to own a car for 10 years. At the end of which, you will need to either export the car or scrap it.

The cheapest car here is about US$38k for a KIA. A GT3 is about US$380k (my dream car) and a Modena is about US$510k. Yes, all can only be owned for 10 years.

...I'm not rich, just that my priority is in cars

I had a feeling it would be outrageous to own a Porsche in Singapore, even a used one. Enjoy your $110,000 sports car every day of the next five years you can own it before you have to scrap it!