New Year, New Car: 7 Cheapest New Cars Under S$100,000 You Can Buy in Singapore 2022

Alevin Chan
Last updated Jan 25, 2022

Looking for a brand new ride in 2022, but wary of spending too much? We’ve got you covered. Here’s our pick of seven new (and new-ish) car models to consider if you’re on a budget.

Private cars have been so expensive for so long that the majority of drivers in Singapore have simply rolled over and accepted it as just another fact of life. Until we enter the glorious age of flying cars and personal jetpacks, nobody expects an end to the Certificate of Entitlement (COE) scheme. And, maybe, not even by then.

What’s a money-conscious Singaporean to do? Well, public transport and private-hire rides are compelling alternatives, but these options don’t work for everyone. Some of us simply need to own and drive our own cars. 

To help you find a new car at the right price, we’ve sussed out seven of the best new models you can find in 2022, each with a price tag of under $100,000.

(Yeah, it’s still expensive, but there’s nothing we can do about that, sorry!)   

7 new cars available for under S$100,000 

Brand and modelSelling priceMonthly instalment^Fuel consumption (km/litre)Estimated annual depreciation (10-year usage)
Perodua Axia 1.0 Standard G (A) 2017S$66,800S$47520OMV: S$9,914
PARF: S$4,957
Depreciation: S$6,184.30
Mitsubishi Attrage 1.2 CVT (A)S$83,999S$597.298.4OMV: S$14,739
PARF: S$7,369.50
Depreciation: S$7,662.95
Perodua Bezza Premium X 1.3 (A)S$87,999S$625.7413.2OMV: S$11,115
PARF: S$5,557.50
Depreciation: S$8,244.15
Nissan Sylphy 1.6 Lite Facelift (A)S$92,800S$659.8716.1OMV: S$16,753
PARF: S$8,376.50
Depreciation: S$8,442.35
Kia Stonic EX 1.0 T (A)S$97,999S$696.8414.3OMV: S$17,642
PARF: S$8,821
Depreciation: S$8,917.80
Mazda 2 1.5 Hatchback Standard (A)S$98,888S$703.1618.5OMV: S$15,566
PARF: S$7,783
Depreciation: S$9,110.50
Opel Corsa 1.2A Turbo (Elegance)S$99,500S$70821.3n/a
Source: OneShift

^Monthly instalment based on 50% loan over 7 years at 2.78% annual interest rate.

Perodua Axia 1.0 Standard G (A) – S$66,800

At the time of writing this article, the cheapest new car model available for sale in Singapore is the Perodua Axia 1.0. 

Perodua is a popular manufacturer of budget family cars in Malaysia, and its inclusion in the Singapore car market presents thrifty drivers with a reliable and wallet-friendly option in a sea of high car prices. 

Available for S$67,000 and change, this hatchback has an Open Market Value (OMV) of S$9,914. This works out to a scrap value of S$4,957, and an estimated annual depreciation of S$6,184.30.

In terms of mileage, the Axia 1.0 offers some impressive results. You can get as far as 20 kilometres on a litre of petrol.

For this price, don’t expect this car to be a head turner. However, it’ll serve well enough for ferrying you and your family around the city.

Mitsubishi Attrage 1.2 CVT (A) – S$83,999

Next on our list of cheapest new cars in Singapore is a sleek-looking sedan from long-time Japanese favourite Mitsubishi.

The Mitsubishi Attrage 1.2 CVT is a four-door sedan with sporty stylings that will look good zipping around the highways. With a 1,200 cc engine delivering up to 78 bhp of power, this automatic-transmission car has the muscle to match. 

Fuel consumption, however, is a little lacklustre, with an average mileage of around 8.4 km per litre reported.

Available for S$83,999, the Mitsubishi Attrage 1.2 CVT has an open-market value of S$14,739. Assuming a 10-year usage period, this works out to a scrap value of S$7,369.50.

Accordingly, you can expect an annual depreciation rate of S$7,662.95.

Perodua Bezza Premium X 1.3 (A) – S$87,999

Another entry from our neighbour up north, the Perodua Bezza Premium X 1.3 offers a more luxurious option for drivers with a higher budget. 

Priced at S$87.999, this five-seater sedan is powered by a 1,300 cc engine built to deliver up to 94 bhp of power, and 6,000 rpm. 

It boasts an extremely frugal fuel mileage of 21.7 km per litre, further adding to its value-for-money appeal. 

The Perodua Bezza Premium carries an open-market value of just slightly over S$11,000. After 10 years of use, it will return S$5,557.50 in scrap value.

This translates to an annual depreciation of around S$8,200.

Nissan Sylphy 1.6 Lite Facelift (A) – S$92,800

The Nissan Sylphy 1.6 Lite is priced at just S$92,800, which is interesting considering its engine capacity. At 1,600 cc, this car is the only one on our list with such a large engine. 

As a facelifted model of Nissan’s popular four-door sedan known for its roomy interiors, the Sylphy 1.6 Lite offers abundant space along with updated looks and styling. 

It’s a modest performer despite its engine capacity. But this model is more than up to the job when it comes to conveying you and your passengers (and stuff) around in comfort, and it does so at a pleasing mileage of 16.1 kilometres per litre of fuel. 

WIth an open-market value of S$16,753, you can expect a PARF rebate of S$8,376 after 10 years. This works out to an annual depreciation rate of S$8,442.35.

Kia Stonic EX 1.0 T (A) – S$97,999

We didn’t think we’d find any sports utility vehicles (SUV) to include in this list, but here we are.  

The KIA Stonic EX 1.0 T is the cheapest new SUV you can find on the Singapore car market. Coming in at just under S$98,000, this is a compact, powerful vehicle suited to both city driving as well as more rugged terrains. 

This model is capable of accelerating from 0 to 100 km/h in a breezy 10.6 seconds, and owes its nimbleness to its turbocharged 1,000 cc engine with maximum power output of 118 bhp. It is also fuel-efficient, with an average mileage of 14.3 km per litre of fuel reported. 

The open-market value of the vehicle is S$17,642, meaning you can expect a scrap value of S$8,821 after 10 years. This gives us an annual depreciation rate equal to S$8,917.80.

Mazda 2 1.5 Hatchback Standard (A) – S$98,888

With a combination of sporty looks, family-friendly, five-door design, and generously spaced 250-litre rear boot, the Mazda 2 1.5 Hatchback has won over many drivers seeking a balance between practicality and style. 

If you’re considering joining the fan club, you can pick up a Standard (A) model for the auspicious price of S$98,888. 

Under the hood, you’ll find a 1,500 cc engine capable of a maximum power output of 113 bhp at 6,000 rpm. Certainly, those specifications won’t deliver particularly thrilling driving, but they’re more than up to the task for a quick jaunt around the island. Also, you’ll love the fuel efficiency, which clocks in at an average of 18.5 km per litre.

The Mazda 2 1.5 Hatchback carries an open-market value of S$15,566, which means the 10-year scrap value comes in at S$7,783. In turn, the annual depreciation value works out to be S$9,110.50

Opel Corsa 1.2A Turbo (Elegance) – S$99,500

And for the last entry in our list, we have another turbocharged model for the speedsters out there. 

The Opel Corsa 1.2A Turbo comes in just under the wire with a price tag of S$99,500, making it a rare find among German performance vehicles. 

This model has a 1,200 cc engine with a maximum power of 128 bhp. It is capable of going from 0 to 100 km/h in a speedy 8.7 seconds, and has a top speed of 208 km/h (you know, if you’re into that sort of thing). 

The vehicle has a five-door hatchback design, balanced out by a low profile for a sleeker, sportier feel. However, do be warned that the rear doors are narrower than most, owing to the vehicle’s configuration as a subcompact hatchback.

Curiously, we couldn’t find any information on this model’s OMV. But you can always ask your dealer during your test drive.


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By Alevin Chan
An ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.


Alevin Chan January 25, 2022 82768