After COE prices for CAT A hit a low of $23,568 in Dec 2018 and hovered at the $25,000 to $26,000 range at the start of 2019, the rest of 2019 saw COE prices creeping upwards.
Jan 2020 saw COE prices for CAT A at $35,010, or about $10,000 higher than it was the same time last year. In spite of the uncertainties in the financial markets, it's clear that Singaporeans are still looking to purchase cars in Singapore.
Cars have always been expensive in Singapore. 2020, thus far, have not seem like a good year if you are in the market for an affordable car. That said, if you really need to buy a car this year, here are some of the cheapest models you can consider.
Before committing to a car, always remember to first calculate the long-term cost of owning a car in Singapore first. That is because the total cost of owning a car in Singapore goes far beyond just the purchase price of a car.
All prices are as quoted from authorised dealer.
#5 MITSUBISHI SPACE STAR 1.2 (A) - $70,999
A small and nimble car, the Mitsubishi Space Star is a reasonable choice for couples or small families who do not need so much space. This small hatchback gives drivers a fuel consumption rate of 21.2km/L, making it an economically sound choice for drivers who are intending to get the best possible mileage from their car in the long-term.
#4 MITSUBISHI ATTRAGE 1.2 CVT MODERN (A) - $68,999
If you are looking for a solid, reliable Japanese sedan at a price of below $70,000, the Attrage is one of the best, if not the only, choice that you have. According to Mitsubishi, the Attrage has been designed to maximise interior space for both drivers and passengers.
Similar to the Space Star, it gives you six airbags, keyless engine start and good fuel consumption of 20.4km/L. All in all, a very logical choice in our opinion.
#3 NISSAN NOTE 1.2 LITE (A) - $67,888
The most basic variant of the of the Nissan Note is listed currently at $67,888, making this compact Japanese car one of the most affordable cars in Singapore today. It's also worth noting that the price of this car 12 months ago was $68,300, when COE prices were significantly lower. So this make it a good deal today…right?
#2 PERODUA MYVI 1.3 X (A) - $66,999
The more expensive of the two Perodua models we have, the Myvi offers a basic, no frill drive for those who prefers a small hatchback over a regular-sized sedan. With a boot space of just 277L, you will need to pack light (or smart) even for that short family trip you are taking to Malaysia.
#1 PERODUA BEZZA 1.3 PREMIUM X (A) - $61,999
At the point of writing, the Perodua Bezza is the most affordable car in Singapore. At the list price of $61,999, it's at least $5,000 cheaper than the next most affordable car in Singapore.
Like the Myvi, the Bezza is a no-frill car that offers surprisingly more than what you may expect. As a proper sized sedan, it provides reasonable (or exceptional, according to its marketing description) for both drivers and passengers.
Adding to that, boot space is at 508L which is more than what many other Japanese, Korean and continental brands offer. There are nice features such as keyless engine start-stop and smart entry with smart key.
There you have it. Some 'reasonable' options to consider if you really need to buy a brand-new car in 2020 and are not willing to spend anytime more than you need to.
While none of these cars are going to impress your car fanatic friends or bring out the Fast & Furious spirit in you, they will get you from point A to point B as promised, as long as you continue to drive safely.
This article was first published in Dollars and Sense.