Guide to buying a used car in Singapore

SINGAPORE — Buying a used car is a very affordable alternative to buying new, but it has its own set of risks to go along with that benefit.

Here we give you a start-to-finish checklist of how to go about buying a pre-owned car in Singapore.

Decide what you need

Before you can get started, you need to define exactly what kind of car you need to get. There is no such thing as the best car, only the best car that suits your needs.

Small family? Consider a SUV, or five-seat MPV. Big family? Look for a seven-seater. Just a couple, and focusing on spending less? Get a compact hatch.

If you need more assistance with your research, you can refer to CarBuyer's extensive review archives through the years to find out more about the kind of cars available out there, and whether they are suitable for your needs.

Make a list of candidates

Now that you know what fits your purpose you can choose the cars you like best and make a list.

The great thing is, you can do much of this right from home by looking at car listings on the Internet — such as our very own CarBuyer Marketplace.

Your list should note not just the price, but also relevant figures such as fuel efficiency, number of seats, age of the car, and more.

Car age is important too, because from that you can figure out if the car is still under warranty, how much COE rebate you'd get if you deregister it, and even what sort of loan can be obtained.

Also if you choose to buy from a known used car dealer, they will offer certain benefits — warranties and pre-car checks — as opposed to buying from a private seller, although the latter will obviously be cheaper. 

Do the math

How much does it cost to own a car? The chief thing is price of course, and as a corollary to that, the loan details and more.

In Singapore, you also need to plan for: Petrol, parking, annual insurance, road tax and inspection, regular maintenance and service.

We recommend computing all this in a spreadsheet so you can compare how much owning a certain type of car would be compared to another.

Also, it's not a bad idea to add a few extra thousand to the budget in case you need to fix anything that goes wrong. 

Keep it real

Now that you've a list with details for comparison, the front runners vying for your dollars become much more obvious.

Once you're down to less than five, you can venture out and actually view the cars in person and give it a once over. You can also ask for the service history and find out more details about the car in person too.

You don't have to look too deep (more on why later) but it's important to at least do a short test drive.

Try it on 

During the test drive, shut off the stereo and listen for any weird clunking or repetitive noises which could indicate mechanical problems.

Reset the fuel efficiency metre and take note of it again at the end of your drive — if it seems excessively high, that could also indicate problems.

But mostly the drive is just to verify that the car works as it should and nothing majorly wrong with it.  

Get a pro's eye in

By now you should have a very short list, but it's important to keep your options open until the final step: Getting a used car evaluation done.

Numerous third-party inspection and maintenance companies offer them, and it costs from around $100 onwards up to a few hundred for a more comprehensive check.

Once you have the all clear from there, then it's time to sign the dotted line at last. 

ALSO READ: An easy guide to COEs

This article was first published in CarBuyer.