Singapore has one of the world’s best public transport systems, at least, according to a recent survey by Time Out. But for those who need more than just MRT and buses, the decision becomes complicated. Owning a car in Singapore is notoriously expensive. Cat A Certificate of Entitlement (COE) prices recently reached $124,790, the highest so far this year. Yet for sales executives visiting clients across the island, parents juggling multiple school runs, or freelancers with irregular schedules, the convenience of private transport can feel indispensable.
For those who cannot afford a brand‑new car, there are three realistic alternatives in Singapore. You can buy a used car with only one or two years left before deregistration, rely on car‑sharing services such as GetGo, or choose private‑hire rides like Grab, Gojek, or TADA. Each option carries distinct financial implications, lifestyle trade‑offs, and long‑term considerations.
Buying A Used Car (Near End Of COE)
At first glance, a used car nearing the end of its Certificate of Entitlement (COE) seems like a practical compromise. The upfront purchase price is much lower than a new car, and you avoid the daunting cost of a fresh COE renewal. But the financial reality is more nuanced. Even a used car requires a significant outlay. A 7‑ to 9‑year‑old mid-sized sedan can still cost between $20,000 and $40,000, depending on condition and mileage. Insurance premiums, road tax, and the occasional repair add to the initial commitment, making ownership far from cheap.
Monthly expenses are also substantial. Fuel, parking, ERP charges, and servicing can easily add up to $800 to $1,200 per month for someone driving daily. Older cars also carry the risk of unexpected repairs, which can drive up costs. On top of this, the drastically reduced PARF rebates for Internal Combustion Engine (ICE) cars, announced at Budget 2026, mean that future scrap or resale values will be less attractive. While these changes won’t affect older cars today, buying used cars will become significantly less popular in about 7 to 9 years’ time.
Despite these costs, ownership provides predictability. You can leave items in the car, drive at odd hours, and avoid the uncertainty of booking. For heavy users, such as sales reps covering multiple appointments daily or families running daily errands, this stability often outweighs the financial burden.
Read Also: How Much Does It Cost To Own A COE Car In Singapore Today
Car Sharing Services Like GetGo
Car‑sharing has grown rapidly in Singapore, appealing to younger drivers and those who want flexibility without the headaches of ownership. Platforms like GetGo allow users to book cars by the hour or day, paying only when they drive. Getgo rates are between $3 and $12 per hour, depending on peak periods, plus mileage fees of about $0.44 per kilometre for petrol cars and $0.29 per kilometre for electric vehicles. A three‑hour trip covering 48 kilometres would cost about $36.
The biggest advantage of car‑sharing is flexibility. There are no insurance premiums, road tax, or maintenance worries. You simply book, drive, and return. This is particularly attractive for those who dislike the administrative burden of ownership. However, availability can be tight during peak hours, and frequent users may find costs adding up quickly. Unlike ownership, you cannot guarantee access to a specific vehicle at all times.
Car‑sharing is ideal for those who drive several times a week, such as families during the school holidays or professionals commuting daily to the Central Business District (CBD) where parking rates are exorbitant, but avoiding the peak hour rush crowd is necessary.
Read Also: Guide To Car Sharing Options In Singapore: Flexar, Tribecar, Car Club, CarLite, GetGo, Drive lah
Private Hire Rides On Grab, Gojek, TADA And More
Private‑hire rides remain the most convenient option. With door‑to‑door service, no parking hassles, and no need to drive, they are the ultimate in convenience. But convenience comes at a price. A typical 10-kilometre ride costs between $12 and $18, depending on surge pricing. Two rides daily can add up to $700 to $1,000 per month. For those who travel often, this can rival car ownership costs.
The appeal of private hire lies in its simplicity. There is no upfront investment, no maintenance, and no insurance. You pay per trip, and drivers handle the stress of traffic and parking. Yet surge pricing during peak hours can make costs unpredictable. For frequent users, monthly expenses may creep up to levels that feel unsustainable.
Private hire is best for those who travel moderately but value convenience. This includes professionals on hybrid work arrangements with the occasional business meeting in the CBD.
Comparing the Options
A used car near the end of its COE typically costs between $800 and $1,200 per month once running expenses are factored in. Heavy daily users will find that a used car, even near the end of its COE, can still be more cost‑effective if they drive extensively. For example, the sales executive who drives daily to multiple client meetings across the island will find that a used car makes sense. The fixed monthly costs are high, but the flexibility and predictability outweigh the alternatives.
Car‑sharing, by contrast, can cost $200 to $500 per month if usage is occasional. Moderate users will benefit most from car‑sharing. There are no fixed costs, yet it provides relatively easy access when needed. The young family that mostly relies on public transport but needs a car for weekend outings and occasional errands will benefit most from car‑sharing. Costs remain manageable, and there is no need to worry about maintenance or insurance.
Private hire rides fall somewhere in between, often reaching $700 to $1,000 per month for regular commuters, though costs can creep up if travel becomes too frequent. The office professional who occasionally commutes to work in the CBD but rarely needs a car outside office hours will find private hire rides the most practical. Monthly costs are predictable, and the stress of driving is avoided.
Ultimately, the difference lies in commitment. Car ownership requires high upfront and fixed costs, car‑sharing is pay‑per‑use with minimal commitment, and private hire involves no commitment at all but can become expensive with frequent use.
