If you were hoping that COE prices will drop in 2023 before you purchase a new car after huge increases in 2021 and 2022, you would have been disappointed. As of the first COE bidding exercise in April 2023, Cat A COE price is at $96,501, an increase of about $28,000 as compared to the same period last year.
The more expensive Cat B and CAT E COE prices are $118,501 and $118,990 respectively.
For anyone hoping to buy an affordable car in Singapore, current COE prices are less than ideal.
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. In fact, you can’t even buy any new car in Singapore right now at $100,000, or even at $120,000.
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. Prices are accurate as of the time of writing and taken from authorised dealer.
Here are the 5 cheapest cars in Singapore today.
Read Also: I Drove An Electric Car For The First Time. Here’s Why The Future Is Beyond Just Using Electricity To Charge A Car
Cheapest Cars In Singapore
Kia Stonic Mild Hybrid 1.0T EX (A) – $132,999
A small SUV, the Kia Stonic Mild Hybrid is a reasonable entry-level vehicle for car owners who wants a slightly higher view of the road. It offers 352L of boot space and goes from 0-100km/h in 10.4 seconds. As a Hybrid call that runs on both petrol and electric, it gives a good fuel consumption of 21.3 km/l to drivers.
At $132,999. the entry-level Kia Stonic Mild Hybrid 1.0T EX (A) model offers decent features that Singapore drivers will want such as electric folding side mirrors, leather seats, bluetooth connectivity (inclusive of Apple CarPlay and Andriod Auto), 6 airbags and reverse camera.
SEAT Arona 1.0 EcoTSI DSG Style (A) – $129,888
A Spanish car manufacturer, SEAT offers the SEAT Arona which is considered a crossover. The 999cc engine brings the car from 0-100km/h in 10 seconds while offering good fuel consumption of 20km/l to drivers. Boot space is at 400L.
At $129,888, the entry-level SEAT Arona 1.0 EcoTSI DSG Style (A) provides good features including Auto Headlights, Electric Folding Sider Mirrors, Multi-Zone Aircon, Bluetooth connectivity, Navigation System, 6 airbags and a reverse camera.
Suzuki Swift Mild Hybrid 1.2 (A) – $125,900
This sporty-looking Japanese hatchback has always been a popular and fun car to be driving around. To the (very) untrained eye under dark lighting, it may even be mistaken for the Mini Cooper Countryman.
At $125,900, the Suzuki Swift Mild Hybrid 1.2 Standard (A) gives the driver a generous fuel consumption of 24.2 km/l as it’s a hybrid that runs on both petrol and electric. It goes from 0-100km/h in 12.2 seconds and has a boot capacity of 265L. It offers the usual features you want in a modern car such as auto headlights, electric folding side mirrors, keyless engine start, 6 airbags, reverse camera and bluetooth connectivity.
Perodua Myvi 1.3 X (A) – $124,999
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.
Perodua Bezza 1.3 Premium X (A) – $123,999
Considering that COE prices for Cat A is already more than $96,000, this means that the Bezza actually costs only about $28,000 (excluding COE). It’s also among the cheapest cars in Singapore that we can purchase today.
At $123,999, you are essentially paying just $28,000 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.
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
This article contains affiliate links. DollarsAndSense may receive a share of the revenue from your sign-ups. You can refer to our editorial policy here.