Are expats allowed to buy a car in Singapore? They say it's expensive to buy a car here? What is the cost of a typical compact car? How do we go about it? Thanks.
The Certificate of Entitlement (COE), instituted by the government of Singapore since May 1990, is a program designed to limit car ownership and hence the number of vehicles on the country's roads. This system in effect requires residents of Singapore to bid for the right to buy a motor vehicle, with the number of certificates deliberately restricted.
The COE allows holders to own a car for a period of 10 years, after which they must scrap or export their car with financial incentives or bid for another COE at the prevailing rate if they wish to continue using their car for a further 5 or 10 years.
Above is the latest rates (2012).
Hope this helps!