Best value-for-money cars in 2016

These are the top cars in Singapore you can buy depending on your needs and budget.

With the government recently relaxing the loan limits for vehicle financing, Singaporeans have rushed back into the market to purchase new cars (like how they rush to buy the latest salted egg burger at McDonald's).

With the additional demand in car purchase, we look at some of the best value for money cars you can buy, based on your needs and budget.

#1 Best "Get Me From Point A To Point B" Car

Cars in Singapore are expensive. However, some of us just really need one. We have kids, or elderly parents to ferry around on a daily basis. Taking the public transport, or calling for a cab, is just plain inconvenient.

We want a reliable car that makes our lives easier.

Our Choice: Mitsubishi Attrage - $88,000 (previously, $76,000 In April)

Photo: Mitsubishi

It's a sedan, has a big enough boot space for long distance travel, prams and wheelchairs, and fits 5 adults comfortably. It's from a reliable Japanese manufacturer and has a decent fuel economy of 20.8km/L.

It has some nice modern touch in the interior and does not look out of place in Singapore, where cars tend to always look new. Prices are a little higher now, but if you are patient enough, you might be be able to get the car at about $70,000 + in the future.

If you have an old car with a PARF value for trade in, the car could even cost you about $60,000 +. We are not saying that isn't a lot of money, but in Singapore, with our current high COE climate, that is as reasonable a deal as you will be able to find.

#2 The Couple's Car

It's just the two of you, with the occasional friends or family members for the ride along. You want a nice nimble car that brings you around town and squeeze through jams easily.

Our Choice: Volkswagen Polo - $101,000 (Previously, $89,000 In February)

Photo: Volkswagen

Let us explain this potentially controversial choice. The Polo isn't the cheapest hatchback around (it's Volkswagen after all). That being said, we are assuming that for a couple that wants to buy a car in Singapore to zip around, money isn't exactly the biggest concern (yet).

The Polo looks great, comes with the European brand name and styling, and has a great fuel consumption of 21.3km/L.

Compare that to other vehicles in its segment such as the Nissan Note ($96,000), the Honda Jazz ($98,000) or the Mazda 2 ($112,000, $11,000 more) and we think the Polo gives the better deal.

#3 The Couple With Young Kids That Wants An SUV

SUVs give drivers an impression of being safer. For those with young kids, an SUV could be a preferred choice.

Our Choice: Honda Vezel - $105,000

Photo: Honda

The Vezel is a big, spacious car. It looks good on the exterior and has lots of room on the interior, including backseats, legroom and sufficient boot space.

It's a 1500cc car with along with a 129bhp. It has a bigger engine and more horsepower than the Nissan Qashqai while costing about $14,000 less.

The only downside is that it appears relatively common these days on the Singapore road.

#4 7 Seaters For Large Families

You have kids and parents to bring around. You are the de-facto driver whenever there is a big gathering held at inaccessible places. You need a car with 7 seats.

Our Choice: Kia Carens - $117,000 (Previously $108,000 In May)

Photo: The Straits Times

It's not the cheapest 7-seater in Singapore (the Honda Freed is $108,000, but really small and ugly) but we like it a lot, and for good reasons.

It consumes diesel, so you save money on petrol. It's fuel economy looks good at 19.2km/L, which beats other cars such as the Freed (16.6Km/L) and the Odyssey (13.6km/L). It's a 1700cc car with a reasonable 139bhp, so it it's not slouch on the road either. It offers a trendy design, and does well for ferrying kids, parents and friends.

#5 A Luxury European Brand To Impress Others

Let's face it. In Singapore, owning a car comes with it a form of prestige. And you can impress others by driving a car from a luxury European brand.

Our Choice: Audi A3 Sedan - $137,000

Photo: Audi

To the untrained eyes, the Audi A3 looks similar to the A4, or heck even maybe the A6? Yet it cost about $30,000 less than then A4, and a whooping $80,000 less than the A6.

Against brands outside of Audi, it costs about $40,000 less than the BMW 3 Series and about $45,000 less than the Mercedes C-Class.

The A3 comes with the luxury touch that you expect from Audi. It's a legitimate sedan, which is what people expect when you drive an Audi. It fits nicely into the category of compact luxury sedan. And when you drive, people would go, "oh, he is driving an Audi!" is a website that provides bite-sized and relevant articles to help Singaporeans make better financial decisions.