[…]because owning a car in this city-state isn’t just about buying the vehicle. You also need to purchase a Certificate of Entitlement (COE)—essentially, a government-issued permit that gives you the right to own a car for ten years. And the current cost? Recent COE premiums for cars have exceeded S$120,000 (≈€82,000).¹ Add the car itself, and suddenly a basic sedan can set you back well over €100,000.
That says it’s for 10 years, so “only” 1/10th of that each month. Still very much a thing only businesses and very well off people can realistically afford though.
Damn, that’s almost € 7 000 per month - I don’t even earn that much before taxes.
In a city state like Singapore it’s the perfect way to finance public transport.
edit: oops, 700. Thanks gloog.
That says it’s for 10 years, so “only” 1/10th of that each month. Still very much a thing only businesses and very well off people can realistically afford though.
oops & thanks
That’s still ~ €700/month