With the high COE price, the costs involved in maintaining ownership of a vehicle is one of the reasons why many Singapore car owners falling into debt.

To maintain a car in Singapore, on a monthly basis, the cost is close to S$1,800 or more. If we take into consideration the road tax, insurance and petrol, season parking at house and office and everything else, on top of the monthly instalment car loan payment.

So it is necessary to own a car in this small island with such intensive network of public transport?