The prices of cars in Singapore is even more ridiculous....
The highlights of the taxes (for ALL passenger cars, even the econo cars) are:
1. "Additional Registration Fee" - 100% of import price
2. "Duty Fee" - 20% of import price
3. "Certificate of entitlement" - ie the right to buy a car... it's a open bid system with limited numbers every month determined by the govt, based on the growth rate of cars last year - it's now S$56,000 for a car that is over 1600cc in engine capacity.
And get this... the Certificate of entitlement is only for 10 years, if I want to keep the car after 10 years I need to pay an amount equivalent to the average of the last 3 months' "certificate of entitlement" cost... just to use the car for another 10 years...
And all that tax is in addition to the govt's implementation of the "Electronic Road Pricing" = that makes road users pay for actual usage on congested roads via automated tolls....
All that means a new boxster 2.9 manual cost about S$260k (over US$200k) not considering options ! For the initial 10 yr period...
And let's not forget the road tax... I use to pay over S$4000 for my 944 as it's over 15 years old (>10 year old means 10% surcharge per yr till max of 50%). Thankfully the road tax has gone down somewhat but still very high..
Used cars ? A 10 yr old boxster 2.7 with some years left of the Certificate of Entitlement will easily cost close to S$100k (US$80k) and yearly road tax of S$2000 going up to a max of S$3000.
Sigh..... yes.... I drool everytime I look at the prices of cars in the US and the petrol prices
Last edited by shlim8; 04-29-2011 at 04:57 PM.
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