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If like me, you were waiting for COE prices to drop in 2021 before purchasing a new car, the current COE prices as of March 2022 would not be the welcome news you were hoping for. As of the first COE bidding exercise in March 2022, Cat A COE price is at $68,501 while Cat B and CAT E COE prices are at $94,889 and $98,890 respectively. The current COE prices do not bode well for any of us who are looking to buy an affordable car in Singapore.
Coupled with rising oil prices, this makes owning a car in Singapore today more expensive than it ever has been. Long gone are the days when $50,000 can still afford us a quality, brand-new sedan.
If do not need a car urgently, it might be advisable to put off the purchase of a car, at least until COE prices soften. Alternatively, you can consider purchasing a pre-owned car instead. Furthermore, before committing to the purchase of a car, it’s also important to consider the long-term cost of owning a car in Singapore.
However, if you desperately need a car and would prefer a brand-new car, here are some of the cheapest cars in Singapore that you can purchase. Among the cheapest cars in Singapore, there are still three vehicles that are cheaper than $100,000.
Read Also: [2019 Edition] Best Value For Money Car You Can Buy In Singapore Right Now
5 Cheapest Cars In Singapore
Mazda 2 Hatchback 1.5 Classic (A) – $110,888
At more than $110,000, this entry-level hatchback offered by Mazda is far from cheap. However, with high COE prices, this is, unfortunately, what we have to deal with. If you want to drive an entry-level car, you have to be prepared to pay.
Having seen this car in person, I would say that the Mazda 2 hatchback is a really good-looking car. If you are single or a couple who don’t need that much space, this car is an ideal choice.
According to Mazda, fuel consumption is at a reasonable 18.5km/L which is important, especially during this period where petrol prices are at such a high level. It’s a hatchback, so don’t expect tons of boot space as it only offers about 250L worth. While the Classic version comes with just 2 airbags, the Elegance version which costs $115,888 comes with 6 airbags and other added technology that might be worth upgrading for if you don’t mind spending a few thousand dollars more.
It’s relatively quick as well, with a 0-100km/hr time of 10.1 seconds.
Perodua Myvi 1.3 X (A) – $101,999
A Malaysian car manufacturer, Perodua currently offers three car models in the Singapore market. The Aruz (a 7-seater), the Bezza, which is a sedan, and the Myvi.
The Myvi is the smallest of the three cars. A small hatchback, it offers a basic, no-frill drive and comes with 4 airbags, keyless engine start and electrical retractable mirrors. Boot space is at 277L while fuel consumption is at 21.1km/L.
Mitsubishi Space Star 1.2 CVT Style (A) – $99,999
A small and nimble hatchback, the Mitsubishi Space Star, like the Mazda 2 Hatchback, is a good alternative for couples or small families who do not need so much space. At about $10,000 cheaper than the Mazda 2, the Space Star also comes with 6 airbags and some additional features such as keyless engine start, auto headlights and electrical retractable side mirrors. Its fuel consumption rate of 21.2km/l also makes it an economically sound choice for drivers who are intending to get the best possible mileage from their car in the long-term. It would also be useful for those of us who work from home and like to go out for a quick drive in the neighborhood for lunch as its size makes it easy to park.
Mitsubishi Attrage 1.2 CVT Style (A) – $99,999
We used to consider the Mitsubishi Attrage as the bigger brother compared to the Space Star, but we think it’s more accurate to consider the two cars as cousins. Pricewise, the Attrage is currently priced the same as the (smaller) Space Star.
The Mitsubishi Attrage is what you will opt for if you have a bigger family and need a bigger car with more space. It can quite comfortably take 3 adult passengers at the back and comes with a boot space of 450L, which is larger than many other sedans that are priced much higher. Similar to the Space Star, it also comes with 6 airbags and features that you want such as keyless engine start, auto headlights, and electrical retractable side mirrors.
All in all, an affordable and practical choice if you want a Japanese sedan.
Perodua Bezza 1.3 Premium X (A) – $97,999
Considering that COE prices for Cat A is already more than $68,000, this means that the Bezza actually costs less than $30,000 (excluding COE). It’s also among the cheapest cars in Singapore that we can purchase today.
At $97,999, you are essentially paying just $29,498 for this car once you take into consideration the current COE price. For that, the Bezza gives you 2 airbags, 508L of boot space with reported fuel consumption of 21km/l. It’s a proper-sized sedan that gives a good amount of space for passengers so it’s perfect for those road trips to Malaysia (once COVID-19 is over).
But best of all, it’s the cheapest car you can buy in Singapore right now.
Read Also: Why Are Cars In Singapore So Expensive?
If you need a car but are not willing to spend so much on one, you can consider getting a used car instead. Motorist is an automotive platform that allows you to buy used cars in Singapore. Alternatively, if you already have a car that serves you well, why not consider renewing your COE instead?
Whether it’s to buy a used car, renew your COE, or to rent a car, Motorist can help you search and make better car-related decisions in Singapore. You can download the Motorist app on the App Store or Google Play.
Cover image credit: Raymond Quek
