Owning an old JDM in Singapore

Cost of ownership of any car in Singapore is high as compared to most parts of the world. So why do enthusiasts like us go through financially to own a JDM car that's more than 10 years old in Singapore.

1. Certificate of Entitlement (COE)

2. Road Tax

3. Insurance

1. Certificate of Entitlement (COE)

Anyone who wishes to register a new vehicle in Singapore must first obtain a Certificate of Entitlement (COE) in the appropriate vehicle category. A COE represents a right to vehicle ownership and use of the limited road space for 10 years.

At the end of the 10-year COE period, vehicle owners may choose to deregister their vehicle or to revalidate their COEs for another 5 or 10-year period by paying the Prevailing Quota Premium.

2. Road Tax

Age of Vehicle Annual Road Tax Surcharge

More than 10 years old 10% of Road Tax

More than 11 years old 20% of Road Tax

More than 12 years old 30% of Road Tax

More than 13 years old 40% of Road Tax

More than 14 years old 50% of Road Tax

So therefore, once your vehicle passes the 15 years old age, you will be paying 150% of the original Road Tax amount per year. Example; our R34 is at her 18 years old mark, so the road tax payable is almost SGD$3,000 per year.

3. Insurance

It is illegal to drive any vehicle in Singapore without a valid vehicle insurance. The minimum requirement is to cover at least third party liability for death and bodily injury arising from the use of the vehicle.

For cars beyond 10 years old, the common insurance cover is Third-Party-Fire-Theft, which means you are not eligible for discounted windscreen replacements and you cannot claim against yourself for your own damage. These two components hurts the pocket instantly.