A Reddit user sparked an online discussion by sharing that their family spends nearly S$1,000 a month on public transport in Singapore, prompting them to question whether buying a car would be a more cost-effective option.
In a post on the subreddit r/askSingapore on 19 Feb, the user explained that their high transport costs stem from frequent rides on ride-hailing services, in addition to the expenses of taking the bus and train for work and personal travel.
Given these ongoing costs, the user wondered if owning a car would be more practical.
They also revealed that their family consists of three members, including an infant, and they have a combined monthly income of S$10,000.
However, netizens were quick to caution the user, highlighting that car ownership in Singapore is significantly more expensive than public transport, even with high monthly transport costs.
One user pointed out that owning and maintaining a car could cost between S$1,500 and S$2,000 per month — more than the S$1,000 the OP is currently paying for public transport.
Source: Reddit
They also listed the potential costs to consider, including annual insurance, road tax, regular maintenance and servicing fees, petrol, parking fees, and Electronic Road Pricing (ERP).
Another commenter mentioned the “time costs” associated with car ownership, such as the need to find parking and manage the administration and paperwork involved.
Source: Reddit
A Redditor also noted that buying a second-hand car would come with repair costs, adding that Singapore is not a particularly car-friendly place unless you own a car purchased when the Certificate of Entitlement (COE) was cheaper.
Source: Reddit
However, one user agreed with the OP, acknowledging the non-financial benefits of owning a car.
These include saving time on waiting for private-hire vehicles, not having to carry personal belongings around, and avoiding the hassle of booking rides with baby car seats.
Source: Reddit
Also read: LTA to inject 20,000 additional COEs starting Feb 2025, first time in 20 years
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Featured image adapted from Nuttawan Jayawan on Canva, for illustration purposes only.