Used Vehicles For Sale Near Me – Cars for sale parked at a used car dealership in Singapore, October 17, 2022. /Edgar Su/File Photo Acquire Licensing Rights
Singapore, Oct 4 () – Want to own a car in Singapore? The buyer must bid for the certificate, which costs $106,000. This is equivalent to four Toyota Camry Hybrids in the United States. This is because the post-pandemic recovery has resulted in higher vehicle costs. The city-state’s vehicle quota system has reached an all-time high.
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Singapore has a system The 10-year “Certificate of Entitlement” (COE) was launched in 1990 to control the number of vehicles in this small country of 5.9 million people that can be crossed in less than an hour.
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The quotas are offered through an auction process. This makes it the most expensive city in the world to buy a car, with COE for large cars more than quadrupling from 2020 prices on Wednesday to S$146,002 ($106, 376.68).
Including COE, registration fees and taxes, the new standard Toyota Camry Hybrid is currently priced at S$251,388 ($183,000) in Singapore, compared to $28,855 in the United States. A small government-subsidized flat in Singapore costs around S$125,000.
In 2020, with fewer people in Singapore driving, the price of a COE dropped to about S$30,000. Increased economic activity post-COVID has resulted in more car purchases. While the total number of vehicles on the road is capped at approximately 950,000, the number of new COEs available depends on how many old cars are deregistered.
Rising prices have made cars out of reach for most middle-class Singaporeans. And it damages what sociologist Tan Ern Sir says is the “Singaporean dream” of upward social mobility, such as having cash, condominiums and cars.
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Singaporeans have been hit hard by persistent inflation and a slowing economy. And some people sell the cars they bought when the COE price was low to make a profit.
“There is a need to reduce the desire to achieve a ‘good life’ to that of living a good enough life,” Tan said.
Jason Kuan, 40, an insurance agent and father of two, said he bought his first car, a Toyota Rush, for S$65,000 in 2008, including the COE price.
“As a family member It didn’t affect me much. Because Singapore still has a good and stable education system. In terms of safety Singapore remains one of the safest countries,” he said.
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Xinghui leads the Singapore office It oversees coverage of one of the region’s top economies and the main financial center of Southeast Asia. From macroeconomics to monetary policy, property, politics, public health and social economics, she also keeps an eye on a variety of topics. that is unique to Singapore, such as how it repeals anti-gay laws But it goes against global trends by maintaining policies that are unfavorable to LGBT families https://world/asia-pacific/even-singapore-lifts-gay-sex-ban-lgbt-families-feel-little-has-changed- 2022-11-29/ Xinghui previously covered Asia for the South China Morning Post and has been in journalism for more than a decade. When it comes to buying a car Choosing the right car for your family can be the difference between getting ready to go on vacation or braking your car mid-trip. Adding to the complexity of buying a used car Whether from a dealer or private owner. This may result in you dreading the morning commute.
“One of the biggest concerns consumers have with used cars is the level of unknowns,” said Carl Anthony, executive editor of
“Buyers do not always know the service and maintenance history of used cars. and without any warranty from the factory that will have warranty remaining Especially if the distance is higher.
“On the contrary A new car is a very clean approach. This is because the buyer has a full factory warranty and will be the first owner,” he continued. “In terms of service and maintenance, They will know exactly where they stand compared to purchasing a vehicle that someone else previously owned.”
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As of May 2020, 3.13 million of the top 10 used cars were registered in the United States, according to IHS Markit. These registrations include vehicles from Ford, Chevrolet, Honda, Toyota, Nissan, and many more. shown in data provided by IHS Markit.
If you are buying a used car for the first time. Or even if this isn’t your first ride.
When searching for a used or new car Research is important “Always do your research from home and take the time to take this important first step,” explains Anthony. “Once you find the used car you’re looking for, Instead, seek independent third-party reviews from trusted sources.”
Anthony also recommends checking for open safety recalls on any used car you’re considering: “Because there’s already so much of the car buying process involved, This important step is often overlooked.”
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Even if you buy a used car Having a down payment will help you save money over the course of the loan, explains Anthony.
“Try putting 20 percent and 25 percent down if you can swing it,” he says. “Used cars, shorter payments of 36 and 48 months are better. Especially if driving long distances. A shorter loan term plus a lower down payment will help you pay off your car faster and reduce the chance of negative equity.
The interesting thing is The managing editor suggests that banks may view new vehicles differently than used vehicles. It depends on the year and mileage of the used car. “Loan terms may not be as good as for new cars,” he explains. Banks may limit the loan amount to 48 months if the car is old and has high mileage. or need to use additional funds to manage borrowing risk.”
If you’re looking to buy a Ford F-250, F-350, Silverado 2500, 3500, Ram 2500, or 350, this could be a problem. These diesel powered cars can last longer than their gasoline powered counterparts. But most banks see things differently. Only on paper, Anthony warns.
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“During the self-inspection You are looking for things that might not appear in photos online,” explains Anthony. “Check for excessive or uneven tire wear. and hidden corrosion on the underbody of the vehicle.”
For old cars Check the headlights for oxidation. Although it can be cleaned But leave it unmarked. May affect nighttime vision. Please note this if you are looking at a vehicle that may be on the road for a long time. Therefore has a high running distance.
Although wear and tear on the seats and dashboard is normal, Check your car’s digital display or touchscreen (if you have one). “Take a moment to get used to it.” and make sure that each function Everything from the climate control system to the navigation works correctly,” Anthony advised. “Look at the seat belt as well and check for excessive wear or tear on the fabric.”
For buyers with children Bring a car seat and install it in the back to make sure it fits. Anthony recommends looking for lower anchor and child restraint (LATCH) points in the car, which are points on the back and bottom of the rear seat. meet while the tether is at the top Be prepared to dig a little between the cushions to find the bottom anchor point.
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When test driving This should always be done regardless of the brand or distributor. Check to see if the check engine light comes on or stays on after turning off all lights.
“In the demonstration drive Pay attention to how the car handles and responds,” explains Anthony. “Watch out for things like drifting and excessive pulling. This may indicate an alignment or braking problem. Pay attention to shifting as you drive around town. Delayed or rough shifting can be a sign that a transmission is close to failure.”
Some people report that it feels as if the transmission has fallen out before it expires and needs to be replaced.
The average cost of a gear shift is between $1,800 and $3,400, so if you feel like you’ve had a hard time shifting during your test drive, The best way is to continue your search.
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When talking about noise In general, Used vehicles may have additional noise levels due to more wear and tear on the road than newer vehicles.
“however You should pay attention to anything that is abrasive, sudden, loud, jarring, or a combination thereof,” Anthony warns. “Rubbing from the wheels and noise from under the car is not a good sign. and may require immediate repair.”
Inquire about service records and previous vehicle history. “Even though it may feel like it takes a long time, But sometimes you get lucky and find that the used car you are looking at has an extensive, documented service history,” says Anthony.
According to the aforementioned car expert It is possible that some used cars on dealer lots were sold by them when they were new. And if so There is a high possibility that they will be brought back into service. “If that’s the case, The dealer’s service department will have all the records and should be able to provide those to you,” he said.
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Some private owners are also good at keeping records of their vehicles.
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