Singapore is the most expensive country to buy and own a car. The high cost of car ownership in Singapore is due to a number of factors, including:

High import duties: Cars imported into Singapore are subject to high import duties, which can add up to a significant percentage of the car’s purchase price.

Certificate of Entitlement (COE): In order to own a car in Singapore, you must first purchase a Certificate of Entitlement (COE). The COE is a government-issued license that allows you to own a car for a period of 10 years. The price of the COE is determined by auction, and it can be very expensive, especially for popular car models.

Excise tax: Cars in Singapore are also subject to an excise tax, which is a tax on the value of the car. The excise tax can be as high as 20% of the car’s purchase price.
Road tax: Cars in Singapore are also subject to road tax, which is a tax on the weight and engine size of the car. The road tax can be as high as several thousand dollars per year.

As a result of these factors, the cost of buying and owning a car in Singapore can be very high. A typical compact sedan in Singapore costs around 125,000 Singapore dollars ($90,430). The annual cost of owning a car in Singapore can be as high as 10,000 Singapore dollars ($7,250).

Here are the top 5 most expensive countries to buy and own a car:

  • Singapore
  • Denmark
  • Finland
  • Norway
  • Iceland

These countries all have high taxes and fees on cars, which drives up the cost of ownership. They also have relatively high fuel prices, which adds to the overall cost of owning a car.