Frequent question: How much does a luxury car cost in Singapore?

A luxury small executive car should cost you in the range of S$170,000 to S$200,000 in 2021. We base this estimate on the current selling prices for the Mercedes-Benz C-Class, the BMW 3 series and the Audi A4, which include Singapore’s top-selling cars in this category.

How much is a luxury car in Singapore?

Luxury cars are super expensive. They’re usually just for the super-rich, especially in Singapore’s pricey automotive market. At the cheapest, a luxury car will cost you $200,000 to $300,000. And that’s without the COE, which will cost you another $50,000 at least.

How much is a BMW in Singapore?

BMW sells around 30 cars in Singapore. These include 10 Coupe, 6 Hatchback, 5 Convertible, 5 Sedans, 2 Muv and 2 SUV.

BMW Singapore Price List 2021.

BMW Models Price List
BMW 4 Series Convertible $242,888
BMW 5 Series $237,888 – $345,888
BMW 6 Series Gran Turismo $282,888 – $294,888
BMW 7 Series Sedan $400,888 – $491,888

How much does it cost to own a car in Singapore 2020?

Initial purchase costs

Expect to spend in the range of S$106,000 for a sedan, S$107,000 for a small SUV/crossover, and S$183,000 for a luxury car. And then there’s the Certificate of Entitlement (COE), or the right to purchase and own a car.

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What salary do you need to afford a Ferrari?

tl;dr version: Your annual income needs to be around $322,000 to be able to afford this car and live a reasonably good life otherwise.

Why is Singapore so rich?

Today, the Singapore economy is one of the most stable in the world, with no foreign debt, high government revenue and a consistently positive surplus. The Singapore economy is mainly driven by exports in electronics manufacturing and machinery, financial services, tourism, and the world’s busiest cargo seaport.

Which BMW series is the cheapest?

BMW’s cheapest sedan, the 2020 2 Series, starts at $35,300.

Can I afford a car in Singapore?

First, the Monetary Authority of Singapore regulates how much of the total cost of a car you are allowed to finance through a loan. For cars with an Open Market Value (OMV) of over S$20,000, you may only borrow up to a maximum of 60% of the total purchase price of the car (which includes the cost of COE, etc.).

How much must I earn to own a car in Singapore?

Realistically, we don’t think Singaporeans should be spending more than 10 to 20% of their annual income on a car. With that percentage in mind, we would expect you to have a household income of at least between $80,000 to $160,000, before you even think about buying the most affordable car in Singapore.

Will car prices drop in 2021 Singapore?

Based on statistical forecasting using latest data released by the LTA and adjusting for the return of quota from the suspended April to June bidding exercises, the quota for the upcoming next Feb-2021 to Apr-2021 is expected to decrease by 11% for passenger cars (excluding commercial vehicle and motorbikes).

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