In Australia, after your purchase your new car, you are required to register it at a cost that can sting a little bit.In Singapore, before you purchase your new car, you are required to obtain a certificate at a cost that will sting an awful lot. Known as the Certificate of Entitlement, the Singapore sting can cost vehicle owners up to A$170,000.
Costs for the cheapest vehicles, powered at 1600cc or less, start at $120,000.
Add to that the price of the new car, and all the other ownership charges and costs.
The island nation has capped the total number of cars it allows on the roads, and issues a limited number of certificates each year.
To get a certificate, would-be owners must purchase it at auction and are permitted to keep that vehicle for 10 years.
The latest auction witnessed a demand surge and the price spiralled to four times that of the auctions just a few years ago.
The upside is when drivers get rid of their old car and deregister it, the government will pay them an incentive as it wants fewer cars on the road.
There is an option to save money and get a motorcycle – that certificate will cost just $12,500.
A bicycle? Nothing.
The policy has been highly beneficial with lower levels of congestion and emissions, and a great public transport system.
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