Car Cost of Ownership in Singapore

The real monthly cost of a car: downpayment, loan, running costs and the PARF and COE rebates at the end.

The Car

How you know the priceThe dealer's price normally includes the COE, ARF and other taxes. Building it up shows where the money goes.

Car price from the dealer, including COE

Open market value (OMV)

The car's import value, set by Singapore Customs. Dealers list it. It decides the ARF, the PARF rebate and how much you can borrow.

COE premium

The COE price paid for this car. In the first November 2026 exercise, Cat A closed at S$139,001 and Cat B at S$132,334. Prices change every exercise.

Dealer's margin, GST and other charges

Everything in the price that is not OMV, excise duty, the registration fee, ARF or COE. Ask the dealer for the breakdown.

ARF actually paid (optional)

Leave at 0 to use the standard ARF worked out from OMV. Electric and low-emission cars may pay less (or more) after VES or EV rebates; the dealer's breakdown shows the figure.

When the COE was obtainedSets the PARF rebate. New COEs get 30% of ARF falling to 5%, capped at S$30,000.

Check the latest premiums on LTA's COE bidding results page.

The Loan

Cash downpayment

MAS caps the loan at 70% of the price if OMV is S$20,000 or less, 60% if more. Enter the full price for no loan.

Loan tenure

years

MAS allows up to 7 years.

Flat interest rate

% a year

The rate lenders advertise. Interest is charged on the original loan for the whole tenure, so the true rate (EIR) is close to double.

Running Costs

Road taxUses LTA's road tax formula for petrol cars. LTA's OneMotoring site has a road tax calculator for other cars.

Engine capacity

Road tax a year

Insurance a year

Your quote. Premiums depend on the car, your age, driving record and no-claim discount.

Petrol or charging a month

Parking and ERP a month

Season parking at home and work, plus ERP charges.

Servicing and repairs a month

Servicing, tyres and repairs averaged over the year.

Years you keep the car

years

Up to 10 years, the life of a COE. The PARF and COE rebates are larger the earlier you deregister.

Estimated cost per month, all in–

Cost per year: –
Total cost over –, after rebates: –

Cash And Loan

Car price: –
Upfront cash (downpayment): –
Loan amount: –
Monthly instalment: –
Total interest: –
Flat rate vs effective rate (EIR): –

Running Costs

Road tax a year: –
All running costs a month: –
Running costs over the period: –

What You Get Back At The End

ARF paid (used for PARF): –
PARF rebate: –
COE rebate for unused months: –
Total recovered on deregistration: –

Price Build-Up

OMV: –
Excise duty (20% of OMV): –
Registration fee: S$350
ARF: –
COE: –
Dealer's margin, GST and other charges: –
Car price: –

Year By Year

Year	Loan payments	Running costs	Total paid so far	Loan still owed	Rebates if deregistered then

Total paid so far starts with the downpayment. Loan still owed is the instalments left on the contract at the end of that year. Rebates are the PARF and COE rebates if the car were deregistered then. Estimates only.

How The Cost Is Worked Out

The total is everything you pay, less what you get back. That is the downpayment, every loan instalment, road tax, insurance, fuel, parking, ERP and upkeep for the years you keep the car, minus the PARF and COE rebates when you deregister it. Divide by the number of months to get the cost per month.

Car loans in Singapore are quoted at a flat rate: interest is charged on the original loan for the whole tenure, even as you pay it down. The effective interest rate (EIR) is the equivalent rate on a reducing balance, the way home loans are charged. At 2.8% flat over seven years, the EIR is about 5.2%. MAS limits the loan to 60% of the price for cars with an OMV above S$20,000, 70% otherwise, over at most 7 years.

The PARF rebate is a share of the ARF you paid, and it shrinks each year after the fifth. For COEs from the second February 2026 exercise, LTA cut it to 30% of ARF within five years, falling to 5% between nine and ten years, capped at S$30,000. The COE rebate refunds the unused part of the COE, so it is zero at ten years. Our guide to the cost of owning a car in Singapore walks through an example, and car loans compared explains flat rates and EIR.

Assumptions And Limits

You keep the car for whole years and then deregister it, getting the PARF and COE rebates. Selling it instead may fetch more or less than the rebates; this tool does not estimate resale value.
The loan is a flat-rate loan with equal monthly instalments, and the full interest on the contract is counted. If you sell before the loan ends, the remaining balance is still owed; banks may refund part of the unearned interest less an early settlement fee, which is not modelled.
Running costs stay the same every year. In practice insurance, fuel, parking and repairs change, and older cars cost more to keep running.
ARF is worked out from OMV using the bands for COEs from the second February 2023 exercise. Electric and low-emission cars may have VES or EV rebates (or surcharges) that change the ARF paid, so enter the actual ARF if you know it.
The road tax formula is LTA's formula for petrol and petrol-hybrid cars. Diesel and electric cars are taxed differently, so enter their road tax yourself.
Excludes money you could have earned on the cash, depreciation beyond the rebates, fines, and the cost of any COE renewal after 10 years. All figures are estimates.

This calculator was built with AI tools from published rules and may contain errors. Results are estimates for education only, not financial advice and not a guarantee. Rates and rules change; confirm with the official source before you act. Your figures stay in your browser: nothing you type is sent to us.

The Car

The Loan

Running Costs

Cash And Loan

Running Costs

What You Get Back At The End

Price Build-Up

Year By Year

How The Cost Is Worked Out

Assumptions And Limits

Sources