Singapore is known to be the most expensive country in the world for owning a car.
Besides the steep initial purchase cost due to taxes, there is also the expensive certificate of entitlement (COE) required to own a car.
As such, many expressed their envy when a netizen shared his ‘historic’ car receipt on the Facebook page ROADS.sg, which showed him paying a meagre S$11,775 for a brand-new car.
Source: ROADS.sg on Facebook
The ‘historic’ car receipt shows that in 1978, Dominic Wong bought a Mini Cooper Clubman in cash for only S$11,775.
“Blast from the past!” the caption read.
Image courtesy of Wikimedia Commons for illustrative purposes only
The price included tyres, rustproofing, and a scrap car that cost S$1,600, which Mr Wong said was required to purchase along with his brand-new vehicle.
When asked why he needed to buy a scrap car, Mr Wong explained in the comments that it was for the new car to “replace”. This policy was designed to prevent an increase in the car population.
Currently, the cost of a more recent Mini Cooper Clubman model ranges from S$157,888 to S$288,888, according to Sgcarmart.
Many netizens who commented on the post expressed their envy towards the affordable car prices and the absence of COE during that time.
One commenter noted that S$11,000 is not even enough to get a COE at present.
Source: ROADS.sg on Facebook
As of July 2024, the price of a COE for a car in Singapore starts at S$91,899.
However, one netizen also commented that COE is necessary to control the number of vehicles, as Singapore is a small island.
Source: ROADS.sg on Facebook
Also read: COE Premium Soars To S$152K, Why Is Owning A Car So Expensive In S’pore?
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Featured image adapted from Wikimedia Commons for illustrative purposes only, ROADS.sg on Facebook
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