Owning a car is expensive in Singapore and choosing the ‘right’ one can save you more than just a couple thousand dollars. Here are three value-for-money cars for you to consider as you hunt for a new ride.
Being a car owner in Singapore requires a financial commitment beyond the actual cost of the car.
The first major expense is securing the Certificate of Entitlement (COE) at a price that is out of your control. To put things into perspective, the latest COE prices for August 2021 are S$45,189 for Cat A and S$56,001 for Cat B — prices equivalent to the downpayment of a HDB flat!
You also have no say over the prices of petrol, parking and Electronic Road Pricing (ERP), although you can alter your driving habits to reduce this cost. For example, this could mean driving before the ERP switches on, or choosing to park at a cheaper car park.
However, what’s entirely within your control is the choice of car. The difference in the car models could mean thousands of dollars saved. Here are three cars that offer great value for money.
Hyundai Avante 1.6 Auto: A fuel-efficient sedan that leads the pack
Named the ‘Best Value’ car in The Straits Times’ Car of the Year (COTY) 2020, the Hyundai Avante is a car that does its job — ferry you from point A to point B.
If you want to own a car for practical purposes, but also don’t want to dish out the extra dollars for additional comfort, boot space or horsepower, the Hyundai Avante fits the bill. A Cat A COE car, the Hyundai Avante scores high on fuel efficiency, and also stands out on the road with its angular exterior.
It sets a high standard for cars in this category, giving buyers great value for money and costing less than a Toyota Corolla Altis or a Honda Civic 1.6 Sedan.
- Price: S$94,999
- Road tax: S$742 a year
- Fuel consumption: 5.4L per 100km (capacity of 47L)
- Year of manufacture: 2021
- Insurance: From S$755* with Singtel Car Protect, based on 45 year old male with clean driving record
If you enjoy getting some Vitamin D on your drive, you can opt for the Hyundai Avante 1.6 Auto Elite (S/R) that comes with a power sunroof and driver’s memory seat — features not found in the two cheaper Hyundai Avante models.
Honda Vezel: A popular SUV that checks all the boxes
A highly affordable SUV that’s just slightly pricier than the Hyundai Avante, the Honda Vezel is the model to consider for price-conscious car owners specifically looking for an SUV.
Already onto its third generation, the Honda Vezel has been redesigned with a sporty, coupe-like shape, featuring an integrated grille design with sleek-looking LED headlights.
The rear seats are also split 60-40 when it comes to folding, allowing greater flexibility in how you choose to utilise the boot space, be it transporting passengers or bicycles around. You can also maximise fuel efficiency with the Eco Assist feature.
- Price: S$101,998
- Road tax: S$682 a year
- Fuel consumption: 5.88L per 100km (capacity of 40L)
- Year of manufacture: 2021
- Insurance: From S$646* with Singtel Car Protect, based on 45 year old male with clean driving record
Mitsubishi Outlander 2.0 Classic: A compact, versatile 7-seater SUV
A no-frills SUV, the Mitsubishi Outlander is a great option for those looking for a 7-seater SUV.
Not quite an MPV but offering more seats than a 5-seater SUV, the Mitsubishi Outlander is a car made for big families looking for value.
The Outlander’s CVT (Continuously Variable Transmission) allows the engine to always operate at the optimum RPM, regardless of the car’s speed, in order to maximise power and fuel efficiency. It also offers ECO mode — an energy-saving mode for the engine, air-conditioner and 4-wheel drive.
A Cat B COE car, the Mitsubishi Outlander offers plenty of storage space with the flexibility to turn your boot into two extra seats. Fun fact: The Mitsubishi Outlander was SGCarMart’s Car Of The Year in 2019.
- Price: From S$120,999
- Road tax: S$1,210 a year
- Fuel consumption: 6.6L per 100km (capacity of 63L)
- Year of manufacture: 2021
- Insurance: From S$740* with Singtel Car Protect, based on 45 year old male with clean driving record
Keeping costs low, beyond your car selection
While these cars might not be as costly as, say, a Mercedes-Benz, BMW, Audi or Volvo, they can still make a dent in your savings.
To keep the overall cost of owning a car affordable, besides selecting a value-for-money car, you also have to look out for other major costs such as car insurance.
Car insurance is an annual plan (and a must-have for all car owners in Singapore) that will require effort on your part to compare and find the best plan for your car each year. One insurance plan that gives you bang for your buck is Singtel Car Protect, which is underwritten by Great Eastern General Insurance Limited (yes, this long-standing telco now distributes car insurance).
Here are the three car insurance plans for you to choose from.
|Value Plan||Essential Plan||Premium Plan|
|Best for||Drivers who seek no-frills coverage||Drivers who want complete coverage and are indifferent to workshop choice||Drivers who want complete coverage and the flexibility to visit a workshop of their choice|
|What it covers||Protection for third-party liabilities and your car||Protection for third-party liabilities, your car, and yourself||Protection for third-party liabilities, your car, and yourself. Plus car repairs at your preferred workshop.|
|Features||Value Plan||Essential Plan||Premium Plan|
|Accidental loss of or damage by accidental causes (up to market value)||Yes||Yes||Yes|
|Loss or damage by fire or theft (up to market value)||Yes||Yes||Yes|
|Death or injury to third party (unlimited)||Yes||Yes||Yes|
|Damage to someone’s property (up to S$5 million)||Yes||Yes||Yes|
|Towing due to accident (up to S$300)||Yes||Yes||Yes|
|Vehicle repairs at Great Eastern’s authorised workshops||Yes||Yes||Yes|
|Windscreen cover (unlimited reinstatement)||Yes||Yes|
|Personal accident benefits for driver (up to S$120,000) and passengers (up to S$50,000 per passenger)||Yes||Yes|
|Medical expenses reimbursement (up to $1,000 per person)||Yes||Yes|
|Get repairs done at your preferred workshop||Yes|
Compared to other car insurance plans, Singtel Car Protect (Essential or Premium plan) offers one of the highest personal accident coverages around — particularly handy for those looking for high coverage in the event of a motor accident.
You can enjoy a No Claims Discount (NCD) of up to 50% depending on how long you’ve gone without making a claim. If you’re a safe driver who’s been demerit-point free the past three years, you can also enjoy a 5% discount on top of your NCD.
Regardless of the plan type chosen, rest assured knowing that you’ll have access to emergency assistance in the event of an accident by contacting the 24-hour tow helpline.
Singtel Car Protect promotion: Score S$300 worth of petrol vouchers!
If you’re looking for a new car, or if you need to get a new car insurance plan, make the most of this limited-time special promotion offered by Singtel.
Simply signing up for Singtel Car Protect through Singtel’s website will earn you up to S$300 in Shell Petrol Vouchers. That’s equivalent to about 118L of petrol based on the current pump price, or two full tanks. You can also receive a S$50 petrol voucher when you refer a friend.
With the option to retrieve MyInfo with Singpass, getting a free quote has never been faster. Click the button below to find out more!
*Premiums shown are as of 25 August 2021 and subject to change without prior notice. Price of cars are based on information found on dealers’ websites as of 19 August 2021.
This article was written in partnership with Singtel Car Protect.
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By Ching Sue Mae
A flat white, an adventure-filled travel and a good workout is her fuel. This Manchester United fan enjoys sharing knowledge on personal finance while chasing the dream of financial independence.