In addition to the costs related to the purchase of your vehicle, you must also be aware of the recurring costs to keep and use your vehicle.
Electronic Road Pricing
Electronic Road Pricing (ERP) is an electronic system of road pricing based on a pay-as-you-use principle. It is designed to be a fair system as motorists are charged when they use the road during peak hours.
The Government determines the minimum parking provision while parking charges are market-driven. Rates are subject to changes by the respective building/car park owners.
Vehicle Preventive Maintenance
Preventive maintenance on a regular basis is necessary to ensure that a vehicle is maintained in a good working condition. Motorists are advised to conduct regular checks on their vehicles before making their trips and send their vehicles to the workshops for regular servicing and checks in accordance with the vehicle manufacturer’s recommended service schedule. Properly maintained vehicles can reduce vehicle breakdowns, save cost of repairs and prevent traffic congestion.
Planning or consolidating your trips and good driving habits - avoid heavy acceleration and braking, avoid leaving the engine running at idling speeds, avoid carrying unnecessary loads (weights), etc., can help improve fuel consumption resulting in savings on fuel cost.
It is illegal to drive any vehicle in Singapore without a valid vehicle insurance. The minimum requirement is to cover at least third party liability for death and bodily injury arising from the use of the vehicle.