EXECUTIVE SUMMARY

This case study examines how Western car-buying advice (particularly timing purchases around December) fails in Singapore’s unique Certificate of Entitlement (COE) system. We analyse real scenarios, provide actionable solutions, and explore the broader economic impact on Singaporean households.

Key Finding: Traditional seasonal timing advice is irrelevant in Singapore. COE price fluctuations ($20,000-$50,000) dwarf any dealer discount ($1,000-$3,000), requiring a completely different strategic approach.

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CASE STUDY 1: THE DECEMBER BUYER TRAP

Background

Subject: Marcus Tan, 32, Marketing Manager
Income: $6,500/month
Situation: Reads a U.S.-based article suggesting December is the best time to buy
Date: December 2024

The Mistake

Marcus followed Western advice:

• Visited dealerships on New Year’s Eve expecting major deals
• Found minimal negotiating room (dealer offered $2,000 accessory package)
• Purchased Toyota Corolla Altis in late December 2024
• COE paid: Cat A at $96,000 (second December bidding)

What Happened Next

January 2025 Reality:

• First January COE bidding: Cat A drops to $91,000
• Marcus overpaid by $5,000 on COE alone
• His “December discount” of $2,000 in accessories became a net loss of $3,000

The Correct Approach

If Marcus had waited 3 weeks:

• January COE: $91,000 (saving $5,000)
• Quieter post-holiday period: Better negotiating position
• Total savings potential: $6,000-$8,000

Lessons Learned

1. COE timing > Calendar timing
2. December may actually be WORSE (year-end commercial fleet renewals)
3. Post-CNY period (Feb-Mar) often better in Singapore context
4. Monitor trends, don’t follow foreign seasonal advice

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CASE STUDY 2: THE NEW VS. USED DILEMMA

Background

Subject: Sarah & David Lim, 35 & 37, Expecting first child
Combined Income: $12,000/month
Decision: Need family car, new vs. 4-year-old used

Option A: Brand New Honda Vezel (2025)

Purchase Price: $185,000

• COE (Cat B): $109,000
• Down payment (40%): $74,000
• Loan: $111,000 over 7 years
• Monthly: $1,850
• Ownership timeline: Full 10 years

5-Year Cost Analysis:

Purchase:           $185,000
Resale (Year 5):   -$115,000
Road Tax (5y):      -$4,800
Insurance (5y):     -$9,000
Maintenance (5y):   -$6,000
Loan Interest:      -$12,000
────────────────────────────
Net Cost:           $101,800
Per Year:           $20,360

Option B: Used Honda Vezel (2021, 4 years old)

Purchase Price: $118,000

• Remaining COE: 6 years
• Down payment (40%): $47,200
• Loan: $70,800 over 5 years
• Monthly: $1,320
• Ownership timeline: 6 years (until COE expiry)

5-Year Cost Analysis:

Purchase:           $118,000
Resale (Year 5):    -$65,000 (1y COE left)
Road Tax (5y):      -$4,800
Insurance (5y):     -$7,500
Maintenance (5y):   -$12,000 (higher for older car)
Loan Interest:      -$6,000
────────────────────────────
Net Cost:           $94,300
Per Year:           $18,860

Their Decision

Chose: Option A (Brand New)

Reasoning:

• Lower monthly maintenance stress with newborn
• Full 10-year runway vs. COE renewal decision in 6 years
• Latest safety features (ADAS, blind spot monitoring)
• Better fuel efficiency (newer hybrid system)
• Annual savings of $1,500 justified by peace of mind

Critical Wait Strategy Applied

• Monitored COE for 6 weeks
• Waited through November’s high prices
• Purchased when Cat B dropped to $106,000 (early Jan 2025)
• Saved $3,000 vs. November purchase

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CASE STUDY 3: THE RETIREE’S SMART PLAY

Background

Subject: Mr. Tan Ah Kow, 68, Retired
Pension: $2,500/month
Situation: Existing car COE expiring in 3 months
Needs: Car for marketing, clinic visits, occasional family outings

The Analysis

Option 1: Renew COE (10 years)

• Cost: $109,000 (Cat B)
• Current car value: $8,000
• Total commitment: $117,000 for 10 more years
• At age 68, may not need car until age 78

Option 2: Buy 9-year-old COE car

• 2015 Toyota Altis with 11 months COE left
• Purchase: $28,000
• Use for 11 months, then scrap
• PARF rebate: ~$5,000
• Net cost: $23,000 for 1 year = $23,000/year

Option 3: Buy 5-year-old PARF car

• 2020 Honda Civic
• Purchase: $88,000
• 5 years COE remaining
• Use for 3 years, sell at Year 8 (2y COE left)
• Expected resale: $45,000
• Net cost: $43,000 ÷ 3 years = $14,333/year

His Decision

Chose: Option 3 (5-year-old PARF car)

Reasoning:

• Most cost-effective per year
• Flexibility to sell if health/needs change
• Still reliable (Honda reputation)
• Can reassess in 3 years (age 71)
• Avoids 10-year commitment

Outcome (2 Years Later)

• Car still running perfectly
• Maintenance costs: $3,500 total (2 years)
• Decided to keep until COE expiry (1 more year)
• Will then reassess mobility needs
• Very satisfied with decision

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CASE STUDY 4: THE LUXURY DEPRECIATION PLAY

Background

Subject: Jennifer Wong, 41, Senior Director
Income: $18,000/month
Want: Premium German sedan
Status: Status-conscious, but financially savvy

The Temptation

Brand New BMW 320i (2025)

• Price: $285,000
• COE: $109,000
• Monthly: $3,200
• Prestige of “brand new”

The Discovery

Certified Pre-Owned BMW 320i (2022, 3 years old)

• Price: $175,000
• Original price when new: $270,000
• Depreciation absorbed: $95,000 (3 years)
• Remaining COE: 7 years
• Warranty: 2 years remaining + CPO extended warranty
• Mileage: 45,000 km (well-maintained)

The Math

New Car (5-year ownership):

Purchase:           $285,000
Resale (Year 5):   -$155,000
────────────────────────────
Depreciation:       $130,000
Per Year:           $26,000

Used CPO (5-year ownership):

Purchase:           $175,000
Resale (Year 5):    -$95,000 (Year 8 total)
────────────────────────────
Depreciation:       $80,000
Per Year:           $16,000

Annual Savings: $10,000

Her Decision

Chose: CPO (Used 3-year-old)

Reasoning:

• Save $110,000 upfront
• $10,000/year lower depreciation
• Still looks prestigious (2022 model nearly identical to 2025)
• CPO warranty coverage adequate
• Can upgrade sooner with savings
• Financially smarter without sacrificing status

18-Month Update

• Zero regrets
• Car runs perfectly
• Colleagues can’t tell it’s 3 years old
• Invested savings in stocks (gained $18,000)
• Vindicated decision

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MARKET OUTLOOK: SINGAPORE 2025-2027

COE Price Projections

2025 Forecast:

• Q1 2025 (Jan-Mar): Moderate prices, $95,000-$108,000 (Cat B)
  • Post-holiday dip expected
  • Increased quotas may continue
  • Best buying window
• Q2 2025 (Apr-Jun): Stabilization, $100,000-$110,000
  • Mid-year traditional lull
  • Good secondary buying window
• Q3 2025 (Jul-Sep): Gradual increase, $105,000-$115,000
  • Approaching year-end demand
• Q4 2025 (Oct-Dec): Peak season, $110,000-$120,000
  • Commercial fleet renewals
  • Avoid unless urgent

2026-2027 Outlook:

• Quota Uncertainty: LTA quota adjustments depend on scrapping rates
• EV Push: Government incentives may shift demand to Cat A (EVs)
• Economic Factors:
  • Interest rates stabilizing (may ease loan costs)
  • Inflation pressure continues
  • Wage growth moderate (3-4% annually)

Risk Factors:

• Policy changes (VES, ARF adjustments)
• Economic recession (demand drops → COE drops)
• Regional geopolitical tensions affecting supply chains

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SOLUTIONS FRAMEWORK

SOLUTION 1: The 90-Day COE Monitoring Strategy

Implementation:

Week 1-4:   Establish baseline
            - Record 2 bidding results
            - Identify trend direction
            - Set target price threshold

Week 5-8:   Active monitoring
            - Check results bi-weekly
            - Compare vs. historical (sgcharts.com)
            - Assess quota changes

Week 9-12:  Decision window
            - If target hit → Execute purchase
            - If trend unfavorable → Extend monitoring
            - If urgent need → Accept market price

Tools Required:

• OneMotoring LTA website (official results)
• sgCarMart price tracker
• coe.sgcharts.com (historical data)
• Google Sheets tracking template
• Price alert notifications

Success Metrics:

• Purchase within 10% of 6-month low
• Avoid purchases during 3+ consecutive increases
• Time entry with quota increases

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SOLUTION 2: Total Cost of Ownership (TCO) Calculator

Formula:

TCO = Purchase Price 
      - Expected Resale Value
      + Road Tax (tenure)
      + Insurance (tenure)
      + Maintenance (tenure)
      + Loan Interest
      - PARF Rebate (if applicable)
      
Annual TCO = TCO ÷ Years of Ownership

Decision Matrix:

Scenario	New Car	3-5yr Used	8-9yr Used
Budget <$60k	❌	✅	✅✅
10yr horizon	✅✅	⚠️	❌
5yr horizon	⚠️	✅✅	✅
2yr horizon	❌	❌	✅✅
Low maintenance tolerance	✅✅	✅	⚠️
High risk tolerance	⚠️	✅	✅✅

Legend: ✅✅ Best | ✅ Good | ⚠️ Moderate | ❌ Not recommended

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SOLUTION 3: The PARF Maximization Strategy

Objective: Maximize PARF rebate value when scrapping

Optimal Scrapping Timeline:

• Best: Year 5-7 (70-75% PARF rebate)
• Good: Year 8 (50% PARF rebate)
• Poor: Year 9+ (50% or expired)

Example: Car with $80,000 ARF (Original Registration Fee):

• Year 5: PARF = $60,000 (capped)
• Year 6: PARF = $56,000 → $60,000 (capped)
• Year 7: PARF = $56,000 → $60,000 (capped)
• Year 8: PARF = $40,000
• Year 9: PARF = $40,000
• Year 10: PARF = $0 (must renew or scrap)

Strategy:

1. Buy 3-year-old car (cost: $100k)
2. Use for 4 years (now 7 years old)
3. Scrap in Year 7 (get $60k PARF)
4. Net depreciation: $40k ÷ 4 years = $10k/year
5. Optimal value extraction

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SOLUTION 4: The Hybrid Approach (Rent-to-Own)

For Uncertain Timelines:

Traditional Problem:

• Need car now
• Don’t know if need long-term (career change, relocation, family planning)
• Don’t want to commit to 10-year COE

Hybrid Solution:

1. Months 1-12: Rent via long-term rental ($1,800-$2,500/month)
   • Test actual need
   • No depreciation risk
   • Full flexibility
2. Month 13: Decision point
   • If still need car: Buy used (now clearer on requirements)
   • If don’t need: Stop renting, zero sunk cost
   • If uncertain: Continue renting 6 more months

Cost Analysis:

Renting (12 months):
$2,200/month × 12 = $26,400

Buying then selling (12 months):
Purchase:           $100,000
Resale (1y later): -$85,000
Insurance:          -$1,500
Road tax:           -$800
Maintenance:        -$1,200
Loan interest:      -$1,500
────────────────────────────
Total:              $27,000

Difference: $600 (rental slightly cheaper + ZERO commitment)

Best For:

• Expats on 1-2 year contracts
• Career transitions
• Pre-family planning phase
• Medical uncertainty

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EXTENDED SOLUTIONS

EXTENDED SOLUTION 1: The COE Arbitrage Strategy

Advanced Concept: Buy when COE is low, sell when COE is high

How It Works:

1. Entry Point: COE hits cyclical low (e.g., $85,000 in Cat B)
2. Purchase: Buy new car at favorable COE
3. Hold Period: 2-3 years
4. Exit Point: COE rises to cyclical high (e.g., $115,000)
5. Sell: Used car value increases with rising COE

Real Example:

2022: Buy new at COE $75,000 (pandemic low)
Car price: $160,000
Total: $160,000

2024: Sell at COE $105,000 (market high)
Used car value: $135,000
Loss: $25,000 over 2 years = $12,500/year

vs.

Normal scenario (stable COE):
2022: Buy at COE $95,000
Car price: $180,000

2024: Sell at COE $95,000
Used car value: $130,000
Loss: $50,000 over 2 years = $25,000/year

Arbitrage savings: $12,500/year

Risks:

• COE may not rise as expected
• Holding costs (insurance, road tax, maintenance)
• Opportunity cost of capital
• Market timing difficulty

Best For:

• Financially sophisticated buyers
• Those needing car anyway (not speculation)
• Patient investors
• Risk-tolerant profiles

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EXTENDED SOLUTION 2: The Multi-Car Portfolio Strategy

Concept: Own 2-3 cheaper cars instead of 1 expensive car

Traditional Approach:

• Single BMW 5-Series: $350,000
• All eggs in one depreciating basket
• High anxiety over damage/theft
• COE exposure: $109,000

Portfolio Approach:

• Car 1: 6-year-old Honda Civic ($70,000) – Daily driver
• Car 2: 8-year-old Toyota Vios ($45,000) – Backup/errands
• Total: $115,000 vs. $350,000

Advantages:

• Diversified COE expiry dates
• Lower insurance per car
• Redundancy (if one breaks down)
• Lower depreciation per vehicle
• Flexibility to sell one if needed
• Total cost: $235,000 LESS

Disadvantages:

• Double insurance, road tax
• Storage (need 2 parking lots)
• Maintenance tracking complexity
• Less prestigious

Best For:

• Multi-car households
• Business owners (different uses)
• Risk-averse investors
• Those with multiple parking spaces

Real Case: Entrepreneur with:

• Comfort car (meetings): Used Mercedes ($120k)
• Delivery van (business): Used Hiace ($55k)
• Total versatility, lower total cost than new luxury SUV

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EXTENDED SOLUTION 3: The Electric Vehicle (EV) Transition Play

Current Landscape (Dec 2024):

• EVs qualify for Cat A COE (~$96,000 vs. $109,000 Cat B)
• VES rebates available (up to $25,000 for efficient EVs)
• Cheaper “fuel” (electricity vs. petrol)
• Lower maintenance (fewer moving parts)

Strategy: Transition Timeline

Phase 1 (2025): Research & Infrastructure

• Install home charger if possible (HDB: limited, Condo: feasible)
• Map public charging locations
• Calculate actual savings vs. petrol

Phase 2 (2025-2026): Entry Point

• Wait for next EV model refresh cycle
• Target: Lightly used EV (2-3 years old)
• Examples: Tesla Model 3, BYD Atto 3, Hyundai Ioniq 5
• Purchase when COE dips + year-end promotions

Phase 3 (2026-2030): Enjoy Lower Running Costs

Cost Comparison (5 years):

Petrol Car (Honda Civic):

Fuel: 15,000 km/year × $0.16/km = $12,000
Maintenance: $5,000
Road tax: $4,800
Total: $21,800

Electric Car (Tesla Model 3):

Electricity: 15,000 km/year × $0.05/km = $3,750
Maintenance: $2,000
Road tax: $3,000
Total: $8,750

5-Year Savings: $13,050

Risks:

• Battery degradation (8-10 year lifespan)
• Charging infrastructure limitations
• Resale uncertainty (new technology)
• Higher upfront cost

Mitigation:

• Buy with strong battery warranty (8y/160,000km typical)
• Ensure home/office charging access
• Choose established brands (Tesla, BYD)
• Calculate breakeven carefully

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EXTENDED SOLUTION 4: The Car-Sharing Monetization Model

Concept: Offset ownership costs by sharing car when not in use

How It Works:

1. Buy economical, popular car (Toyota, Honda)
2. Register with platforms (Drive lah, Tribecar Host)
3. Share car during off-hours
4. Earn passive income

Example Economics:

Your Usage:

• Need car: Weekday evenings (7pm-11pm), Weekends (full day)
• Available: Weekday days (9am-6pm) = 45 hours/week

Sharing Income:

Rental rate: $8/hour (economy car)
Usage: 20 hours/week (conservative)
Monthly income: 20 × 4.3 × $8 = $688

Annual income: $8,256

Your Annual Costs:

Depreciation: $12,000
Insurance: $1,800 (commercial add-on)
Road tax: $960
Maintenance: $1,500 (higher due to sharing)
Total: $16,260

Net cost: $16,260 - $8,256 = $8,004/year
Effective: $667/month

vs. Not Sharing:

Net cost: $16,260/year = $1,355/month

Savings: $688/month (50% reduction!)

Risks:

• Wear and tear from renters
• Accident liability (insurance covers)
• Availability conflicts
• Platform commission (20-30%)

Best For:

• Office workers (car idle during workday)
• Part-time drivers
• Cost-conscious owners
• Those comfortable sharing assets

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SINGAPORE-SPECIFIC IMPACT ANALYSIS

ECONOMIC IMPACT: Household Level

Scenario: Median Singapore Household

• Median household income: $10,869/month (2023)
• Car ownership rate: ~45% of households

Cost Burden:

With Car:

Car loan/depreciation: $1,500/month
Insurance: $150/month
Road tax: $80/month
Petrol: $250/month
Parking: $150/month (season + occasional)
Maintenance: $100/month
ERP/Parking fees: $100/month
────────────────────────────
Total: $2,330/month (21.4% of income)

Comparison: Hong Kong (No COE System)

• Similar car: ~$1,200/month (11% of comparable income)
• Singapore penalty: 10% more of income due to COE

Impact on Financial Goals:

• Without car: Save $2,330/month → $27,960/year
  • Could buy BTO flat 2-3 years faster
  • CPF retirement adequacy improves
  • Children’s education fund grows
• With car: Lifestyle convenience vs. financial sacrifice
  • 20-25% of income to transportation
  • Delayed wealth accumulation
  • Higher financial stress

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SOCIETAL IMPACT: Wealth Inequality

The COE Wealth Transfer:

COE system creates several tiers:

Tier 1: The Wealthy (Top 20%)

• Income: >$20,000/month
• Car cost: 10-15% of income
• Impact: Minimal lifestyle change
• Can upgrade cars frequently
• COE is minor irritation, not barrier

Tier 2: Middle Class (Middle 60%)

• Income: $6,000-$15,000/month
• Car cost: 20-35% of income
• Impact: Significant financial planning required
• Must choose: Car vs. other goals (property, retirement)
• COE forces difficult trade-offs

Tier 3: Lower Income (Bottom 20%)

• Income: <$6,000/month
• Car cost: Unaffordable (>40% of income)
• Impact: Effectively priced out
• Rely on public transport exclusively
• COE creates mobility divide

Wealth Gap Illustration:

Family A (Income: $25,000/month):

• Buys new Mercedes: $350,000
• Percentage of annual income: 14%
• Comfortable purchase

Family B (Income: $8,000/month):

• Buys used Civic: $100,000
• Percentage of annual income: 104%
• Major financial burden requiring 7-year loan

Systemic Effect:

• Car ownership becomes wealth indicator
• Social mobility implications (job access, flexibility)
• Psychological stress on middle class
• COE reinforces class divisions

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ENVIRONMENTAL IMPACT

Current State:

• Vehicle population: ~980,000 (2024)
• COE quota: ~15,000-20,000 annually
• Goal: Zero-growth policy (maintain ~1M vehicles)

Positive Impacts:

• Controlled vehicle population (vs. Bangkok, Manila chaos)
• Incentivizes public transport use
• Reduces congestion
• Lower emissions per capita vs. comparable Asian cities

Negative Impacts:

• Older cars stay on roads longer (cost of COE renewal)
• Middle-class stuck with older, less efficient vehicles
• Can’t afford new EVs despite environmental benefits

The EV Paradox:

Government wants EV adoption, but:

• New EVs: $150,000-$300,000
• Middle class: Can only afford $80,000-$120,000 used petrol cars
• Income gap prevents environmental transition

Solution needed:

• Greater EV incentives for middle class
• Used EV market needs development
• Cheaper EV options (BYD, MG)

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POLICY IMPACT: Government Considerations

COE Revenue (2024 est.):

~15,000 COEs × $100,000 avg = $1.5 billion/year

Plus:
- ARF revenue: ~$1.2 billion
- Road tax: ~$800 million
- ERP: ~$150 million

Total transport taxes: ~$3.65 billion/year

Government Dilemma:

1. Revenue dependence: Transport taxes fund infrastructure
2. Congestion control: COE successfully limits vehicles
3. Social equity: System favors wealthy
4. Economic competitiveness: High transport costs affect business

Potential Policy Shifts (2025-2030):

Scenario A: Status Quo

• Continue COE system
• Gradual EV incentives
• Minor quota adjustments
• Likely: Most probable

Scenario B: Differentiated COE

• Lower COE for EVs only
• Higher COE for ICE vehicles
• Accelerate green transition
• Possible: If climate goals urgent

Scenario C: Time-Based COE

• Cheaper COE for off-peak usage only
• Smart road pricing integration
• More granular demand management
• Speculative: Technologically complex

Scenario D: Income-Based Rebates

• COE rebates for lower-income families
• Means-tested support
• Social equity correction
• Unlikely: Administrative complexity

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BUSINESS IMPACT: Automotive Industry

Dealers:

• Operate on thin margins (5-10% gross profit)
• COE volatility creates planning challenges
• Parallel importers thrive (price competition)
• Consolidation trend (bigger players absorb smaller)

After-Sales:

• Maintenance/repair segment growing
• Owners keep cars longer (10+ years)
• Parts suppliers benefit
• Workshop revenues stable

Rental/Sharing:

• Fast-growing segment
• Grab, Gojek, private car-sharing
• Alternative to ownership for young
• Platform economics favor scale

Impact on Employment:

• ~15,000 jobs in automotive sector
• Shift from sales to service roles
• Growing tech roles (EV specialists)
• Consolidation may reduce jobs long-term

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REGIONAL COMPARISON: Singapore vs. Neighbors

Car Affordability Index (New Toyota Corolla):

Country	Price	Median Income	Ratio
Singapore	$170,000	$65,000/yr	2.6x
Malaysia	$80,000	$24,000/yr	3.3x
Thailand	$60,000	$18,000/yr	3.3x
Indonesia	$55,000	$15,000/yr	3.7x

But including COE:

Country	Total Cost	Income	Ratio
Singapore	$170,000	$65,000	2.6x

Paradox: Singapore income 3x higher, but car costs similar to neighbors in annual income terms due to COE.

Quality of Life Impact:

Singapore (With COE):

• ✅ Excellent public transport (compensates)
• ✅ Low congestion (COE works)
• ✅ High urban density (less car need)
• ❌ Expensive car ownership (but mitigated)

Malaysia (No COE):

• ❌ Poor public transport
• ❌ High congestion (KL traffic)
• ✅ Cheap car ownership
• ⚠️ Car dependency (necessity, not luxury)

Verdict: COE trade-off acceptable given Singapore’s excellent alternatives.

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RECOMMENDATIONS & ACTION PLAN

FOR INDIVIDUALS

Immediate Actions (Next 30 Days):

1. Set up COE monitoring system
   • Bookmark OneMotoring, sgCarMart
   • Create Google Sheets tracker
   • Set bi-weekly calendar reminders
2. Calculate your TCO threshold
   • Use formula provided
   • Determine acceptable annual cost
   • Set budget ceiling
3. Assess actual car need
   • Log travel patterns for 2 weeks
   • Calculate Grab/rental cost equivalent
   • Honest evaluation: Need vs. want?

Medium-Term (3-6 Months):

4. Build car purchase fund
   • Target: 40% down payment
   • Emergency buffer: $10,000
   • Total savings goal
5. Research specific models
   • Test drive 3-5 options
   • Read reviews (sgCarMart forums)
   • Check insurance quotes
6. Time your purchase
   • Wait for favorable COE
   • Be patient if prices trending up
   • Execute when conditions align

Long-Term (1-3 Years):

7. Optimize ownership
   • Regular maintenance (prevent big repairs)
   • Consider car-sharing income
   • Monitor resale value
8. Plan exit strategy
   • Set target scrap/sell year
   • Maximize PARF rebate
   • Prepare for next purchase cycle

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FOR POLICYMAKERS

Short-Term Reforms (1-2 Years):

1. Increase COE transparency
   • Publish quota projection 6 months ahead
   • Reduce market speculation
   • Help buyers plan better
2. Enhance EV incentives
   • Raise VES rebates to $35,000
   • Tax breaks for home charger installation
   • Expand public charging (double coverage)
3. Support used EV market
   • Battery certification program
   • Extended warranties for used EVs
   • Build buyer confidence

Medium-Term Reforms (3-5 Years):

4. Differentiated COE by emission
   • Lower COE for zero-emission vehicles
   • Phase out ICE premium incentives
   • Accelerate green transition
5. Income-progressive support
   • Rebates for lower-middle income families
   • Capped at $10,000, means-tested
   • Reduce inequality burden
6. Encourage car-sharing
   • Tax incentives for shared vehicle platforms
   • Insurance framework simplification
   • Promote alternatives to ownership

Long-Term Vision (5-10 Years):

7. Autonomous vehicle integration
   • Reserve COE quotas for AV fleets
   • Reduce private ownership need
   • Transform urban mobility
8. Regional transport integration
   • Cross-border EV charging
   • ASEAN vehicle standards
   • Leverage Singapore as hub

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FOR INDUSTRY

Dealers:

• Embrace transparency (reduce information asymmetry)
• Develop used EV expertise
• Offer flexible ownership models (subscription)

Financial Services:

• Create COE-linked financial products
• Offer COE price protection insurance
• Flexible loan structures for volatile market

Technology:

• Develop COE prediction algorithms
• Car-sharing platform enhancements
• Blockchain for vehicle history transparency

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