Affordable Cars in Singapore | Buying Your Own Car Singapore
Budgeting | Car Loans | Lifestyle
by Priyadarshini
27 January 2022
Looking for a brand new vehicle in 2022 but concerned about spending too much? We’ve got your back. Here are seven new (or new-ish) car models to consider if you’re on a tight budget. Private automobiles have been so expensive in Singapore for so long that the majority of drivers have simply rolled over and accepted it as a fact of life. In this blog, we tell you about affordable cars in Singapore that you can buy.
Nobody expects the Certificate of Entitlement (COE) scheme to be phased out until we enter the great age of flying automobiles and personal jetpacks. And perhaps not even by then.
What should a cash-strapped Singaporean do? Although public transportation and private-hire rides are appealing choices, they are not suitable for everyone. Some of us simply need to own and operate a vehicle.
Affordable cars in Singapore
S$66,800 for a Perodua Axia 1.0 Standard G (A)
At the time of writing, the Perodua Axia 1.0 was the cheapest new automobile model on sale in Singapore. Perodua is a prominent Malaysian producer of low-cost family automobiles, and its entry into the Singapore automotive market provides thrifty drivers with a dependable and cost-effective option among a sea of high-priced vehicles. This hatchback has an Open Market Value (OMV) of S$9,914 and is available for S$67,000 and change. This equates to a scrap value of S$4,957 and an annual depreciation of S$6,184.30. In terms of mileage, the Axia 1.0 performs admirably. A liter of gasoline can transport you up to 20 kilometers. Don’t expect this at this price. Don’t expect this automobile to turn heads at this pricing. However, it will be enough for getting you and your family around the city.
Related – Buying used cars in Singapore
S$83,999 for the Mitsubishi Attrage 1.2 CVT (A)
The next car on our list of the cheapest new cars in Singapore is a stylish sedan from long-time Japanese favourite Mitsubishi. The Mitsubishi Attrage 1.2 CVT is a four-door sedan with stylish stylings that will look nice cruising down the highway. This automatic-transmission automobile has the muscle to match, with a 1,200 cc engine delivering up to 78 horsepower of power. However, fuel consumption is a little disappointing, with an average mileage of roughly 8.4 kilometers per liter noted.
The Mitsubishi Attrage 1.2 CVT has an open market value of S$14,739. It is available for S$83,999. With a 10-year usage lifetime, this equates to a scrap value of S$7,369.50. As a result, you may anticipate an annual depreciation rate of S$7,662.95.
S$87,999 for the Perodua Bezza Premium X 1.3 (A)
The Perodua Bezza Premium X 1.3, another arrival from our northern neighbour, provides a more luxurious option for those with a bigger budget. This five-seater sedan costs S$87.999 and is powered by a 1,300 cc engine capable of producing up to 94 horsepower at 6,000 rpm. It has an unusually low fuel consumption of 21.7 km per liter, which adds to its value-for-money appeal. The Perodua Bezza Premium is worth slightly more than S$11,000 on the open market. It will be worth S$5,557.50 in scrap after ten years of use. This equates to an annual depreciation of around S$8,200.
S$92,800 for the Nissan Sylphy 1.6 Lite Facelift (A)
The Nissan Sylphy 1.6 Lite is priced at S$92,800, which is reasonable given its engine capacity. This car has the largest engine on our list, at 1,600 cc. The Sylphy 1.6 Lite, a facelifted form of Nissan’s famous four-door sedan noted for its spacious interiors, provides plenty of space as well as improved aesthetics and style. Despite its large engine capacity, it is a poor performance. However, this model is more than capable of transporting you and your passengers (and stuff) in comfort, and it does so at a pleasing mileage of 16.1 kilometers per liter of fuel. With a S$16,753 open-market valuation, you can expect a PARF rebate of S$8,376 after 10 years. This equates to a yearly depreciation rate of S$8,442.35.
