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Cost of owning a car in Singapore

A car in Singapore usually runs $1,500–$2,500 a monthall-in — but the number that decides it isn't petrol, it's depreciation. Work out your own figure below.

Per month
$1,665
Per year
$19,983
Per km
$1.14
Depreciation$12,000/yr · 60%
Petrol$3,920/yr · 20%
Parking$1,320/yr · 7%
Insurance$1,200/yr · 6%
Maintenance$800/yr · 4%
Road tax$743/yr · 4%

Depreciation is 60% of the cost — usually the largest and most overlooked line. Road tax and petrol maths are exact (LTA formula); the rest are typical figures — edit them to your own car. Estimate only.

What actually makes up the cost

Owning a car is seven costs stacked together. Roughly in order of size for most owners:

  1. Depreciation — the big one. What you lose on the car and its COE over time: (purchase price − the PARF rebate you get back at the end) ÷ the years you keep it. Singapore listings quote this directly as “depreciation/year.”
  2. Petrol or charging — your mileage × fuel economy × the pump/electricity price.
  3. Insurance — varies with your profile and no-claim discount.
  4. Road tax — fixed by engine size (or EV power rating). We use the exact LTA road-tax formula.
  5. Parking — season parking at home plus wherever you work. See HDB parking rates.
  6. Maintenance — servicing, tyres, wear items.
  7. ERP — only if your routes pass gantries.

Why depreciation is the figure that matters

Most people compare cars on petrol economy, but depreciation is usually half or moreof the total cost of ownership — driven by the COE price when you bought and the car's PARF rebate at the end. A car with cheap petrol but heavy depreciation costs you far more than the reverse. That's why the all-in figure above, not the pump price, is the one to decide on.

Petrol or electric — which is cheaper to own?

EVs cut the running cost (charging is far cheaper than petrol, and there's less maintenance) but often carry higher depreciation and a $700/year road-tax flat component. The all-in comparison is a separate question we'll answer next — for now, switch the calculator between petrol and electric to see the difference on your numbers.

Looking for the individual costs?

Check your exact road tax, HDB parking rates, or browse mall car park rates.