10 affordable cars to hop into in the Year of the Rabbit

The year of the Tiger is coming to an end soon, and there are not many things better than a brand new car to ensure a smooth drive through the new year!

COE prices have skyrocketed recently, bringing along the retail prices of brand new cars and the asking prices of used cars to an all-time high in Singapore.

Gone are the days when you could easily find a used car with an annual depreciation of $7,000 and below. These days, a Honda Civic from more than 10 years ago would easily set you back more than $10,000 a year! You get the idea, cars are getting really expensive.

But fret not, with these 10 affordable new cars that will only set you back $1,000 or lesser a month, you can easily hop into a brand new car before Chinese New Year 2023, and kick start the year of the Rabbit!

*The list includes parallel imported cars, the pricing is based on Sgcarmart's Recommended Retail Price

1. Toyota Yaris Cross Hybrid (Parallel Import)

Price: $136,000

Depreciation: $11,800

Road tax: $680

Horsepower: 114bhp

The Yaris Cross has quite a unique exterior design that features a distinct boxy front end with blacked-out head lights and a rear end that's reminiscent of the GR Yaris.

It is rather unlikely for one to mistake the Yaris Cross as any other car, and that could be a huge plus if you are someone who wants to drive a brand new car that exudes a fair bit of character.

Opting to purchase the Yaris Cross from a parallel importer would set its depreciation just below $12,000, which makes it a pretty enticing deal.

2. Toyota Sienta 2015 (Parallel Import)

Price: $135,000

Depreciation: $11,800

Road tax: $682

Horsepower: 107bhp

Unless you haven't stepped out of your house for ages, you probably would be familiar with the Toyota Sienta.

The Sienta is a compact MPV that sits seven and it is also one that offers plenty of value with its relatively affordable price, and good fuel economy.

Hence, it isn't surprising to see so many of them being put to work as Private Hire Vehicles. And you shouldn't be turned off by that fact, as it only proves how practical and reliable these cars are.

While there's currently a brand new model available, you could still opt for the one from 2015 if you were to get one from the Parallel Importers. This way, you can enjoy a low depreciation that's less than $12,000 a year.

3. Suzuki Jimny (Parallel Import)

Price: $140,000

Depreciation: $11,600

Road tax: $662

Horsepower: 101bhp

The Jimny! Probably the most distinctive car in this entire list, and you can actually get one for less than $12,000 a year. Talk about a good deal!

Its boxy and rugged design makes the Jimny a really interesting car to be seen in, while some will liken its shape to a Mercedes-Benz G Wagon, the Jimny isn't just another poser.

Equipped with a ladder frame, rigid axles and a four-wheel drive with low range transfer gear, the Jimny is a true blue off-roader, albeit a small one.

At an annual depreciation of $11,600, the Jimny is quite a catch, especially if you are truly interested in exploring the world of off-road driving.

4. Honda Freed (Parallel Import)

Price: $158,000

Depreciation: $11,400

Road tax: $682

Horsepower: 124bhp

The Honda Freed is the car you should get if you want ferry a bunch of people, and yet you don't want to get something that will stress you out when manoeuvring through a HDB Multi-Storey Carpark.

Being of a mini MPV body style, the Honda Freed looks somewhat like a slightly elongated Hatchback, but inside, it can be configured to fetch seven adults.

The best part is, with a smallish 1.5-litre engine that puts out 124bhp, the Honda Freed is still a Cat A COE car. This means that you can get one to fetch the extended family out on the weekend, without paying an exorbitant amount of money for a large MPV or SUV.

5. Perodua Bezza

Price: $113,999

Depreciation: $11,399

Road tax: $584

Horsepower: 93bhp

At one point the Bezza was the cheapest new car that you can buy in Singapore. While the COE prices have caused the price of the Bezza to increase quite a fair bit, it is still an incredible value proposition.

It is a compact sedan that is able to fit five comfortably, and powered by an engine that is quieter and more refined than the others in its class. With excellent fuel economy and low road tax, this is a car that shouldn't take much to sustain.

6. Honda Fit 2017 (Parallel Import)

Price: $117,000

Depreciation: $10,500

Road tax: $578

Horsepower: 98bhp

Considering the amount of buzz around the design of the latest Honda Fit/Jazz, we know that its cutesy look clearly isn't everyone's cup of tea.

So if you are among those who prefer the previous design, you'll be glad to know that the Parallel Importers are still selling these cars.

As with all iterations, the Honda Fit is a highly practical compact hatchback that has a reasonable amount of space. In fact, you can still fit a family of four in one comfortably, with sufficient space for a couple of baggage for a trip up north.

7. Honda Fit 1.3 (Parallel Import)

Price: $118,000

Annual depreciation: $9,800

Road tax: $578

Horsepower: 97bhp

Honda Fit's latest iteration traded in its predecessor's sporty look for a cutesy one that's a great fit for such a cheerful city runabout.

While the change in design direction might divide opinions, the Fit remains to be an excellent choice thanks to its great mix of affordability and practicality.

With a spacious interior, efficient drivetrain and being very easy to drive, it is the perfect car for small families and new drivers.

While the Honda Jazz from the Authorised Dealer is only available in 1.5-litre guise, you can opt for a parallel imported 1.3-litre variant for maximum savings. And what's better than a cute car to match the cute rabbit year!

8. Toyota Raize (Parallel Import)

Price: $136,000

Depreciation: $9,800

Road tax: $392

Horsepower: 98bhp

Developed and manufactured by Daihatsu, the Rocky is also sold with other nameplates, with the Toyota Raize being one of which found its way to our shores.

As expected from the expert of kei cars and other compact cars, the Raize is a really attractive compact crossover that has been designed to be easy to drive.

Equipped with a 1.0-litre Turbocharged engine, the Toyota Raize incurs a low amount of road tax, which adds to its proposition as an affordable car to go for. Additionally, the Raize is available with plenty of features and amenities as well.

9. Honda N-Van Petrol (Parallel Import)

Price: $86,000

Depreciation: $8,600

Road tax: $326

Horsepower: 63bhp

The Honda N-Van has been quite the hit since it was introduced in Singapore.

Like the Suzuki Every, it is a commercial vehicle as well. But instead of the Every's utilitarian design, the N-Van sports an adorable face with a pair of head lights that look like they were lifted from the Honda e.

By now, you might have noticed there are plenty of N-Vans prowling the roads here, and there's no better testament to the car's popularity than that. If you do not mind the limitations of a commercial vehicle here, the N-Van could be a really good choice!

10. Suzuki Every Petrol (Parallel Import)

Price: $88,000

Depreciation: $7,100

Road tax: $326

Horsepower: 63bhp

Normally, we wouldn't include commercial vehicles within such a list that is predominantly filled with passenger cars, but the Every is a rather special car. You see, Sgcarmart owns two Suzuki Every that are used as our company vehicles.

The Every is not only compact and easy to drive, but also highly practical with its spacious interior. It is possible thanks to the Every's utilitarian interior design and its boxy shape.

While commercial vehicles comes with its caveats such as the need to be registered to a business, the fact that they aren't supposed to have a rear bench and the 70km/h speed limit, the Every is extremely affordable and could still be a great choice if it suits your needs.

ALSO READ: About the E-GMP: Kia EV6 aside, these are the other cars riding on HMG's bespoke EV platform

This article was first published in sgCarMart.