In brief
Car ownership in Singapore comes with exorbitant fees, including a $84,000 permit, pushing many to view their vehicles as symbols of prestige rather than mere transportation.
In Singapore, where urban planning and environmental sustainability dictate the dynamics of transport, owning a vehicle is a luxury that only a few can afford. The government aims to curb pollution and congestion, and as such, it makes the process of buying a car painstakingly expensive. This practice has turned car ownership into an emblem of status and success, akin to wearing a luxury watch.Take the experience of Andre Lee, a 33-year-old insurance agent who purchased a used Kia Forte in 2020. Lee invested $24,000 in his car, substantially higher than what the same model would cost in the United States. This price factor includes a certificate of entitlement (COE), a necessary license to own a car that can range from several thousand to an astonishing $84,000 for a decade-long term. This COE system was introduced in 1990 as a measure to limit the growing pollution and traffic congestion in the densely populated city-state.“I see my car as an extension of my personality, much like being dressed in formal wear or sporting a Rolex,” Lee explained, highlighting the mindset surrounding automotive ownership in Singapore.The high costs associated with driving can lead to extreme behaviors, with some owners prioritizing their vehicles’ upkeep above their families. In a city with such stringent policies surrounding car ownership, a vehicle can represent not just transportation, but also social standing and commitment to the urban lifestyle.
