Buying & Selling a Car in Singapore

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Buying & Selling a Car in Singapore

Buying a new car

Foreigners are not treated any differently to Singaporean citizens when buying or selling a vehicle.

New cars can be bought through dealerships. Some dealerships have a monopoly on the types of cars they import. Dealerships and car dealers are usually willing to make a trade-in deal on any used car.

To buy a new car the purchaser must provide proof of identity. Most dealerships will handle all the administrative work, including registering the vehicle. However, some may ask the buyer to arrange the Certificate of Entitlement COE. It may sometimes be cheaper to try for the COE in person.

• For information n the COE see AngloINFO INFOrmation Page Registering a Motor Vehicle

Car prices are generally high; this is mainly due to taxes and the (COE). If a loan is taken the buyer must have proof of income. Although dealerships offer car loans it is advisable to shop around.

Buying a Used Car

Second-hand cars are advertised in the classified section of the Straits Times or any of the motoring magazines available from all news stands or on one of the many websites. Many of the large dealerships offer second-hand cars. The notice boards at supermarkets occasionally have used cars for sale.

It is often advantageous to buy a car of about one to three years old as the depreciation is greater in the first three years. However car prices can vary depending on the prevailing COE prices.

Before buying a used car it is worth asking a garage or the Automobile Association of Singapore (AAS) to do a valuation and roadworthiness check.

• See The AngloFILE for: Car Dealers: New & Used Sales

Transfer Fees & Documentation required

For cars less than 10 years old with a valid COE, buyers have to pay a transfer fee of two percent of the assessed value of the car, as determined by the Land Transport Authority (LTA).

• The LTA provides comprehensive information on its website: Click here
• The LTA has a checklist of what to do when buying or selling a used car: Click here
• The transfer fee can be checked by entering the vehicle registration: Click here

Transfer of ownership must be within seven days of making the purchase. This must be done personally at the LTA, Vehicle and Transit Licensing Division, 10 Sing Ming Drive or any Authorised Electronic service Agents premises.

The following must be produced:

• An Ownership Transfer form completed by both the current registered owner and the buyer (Downloadable form, select from the list: Click here)
• Identification documents of both the registered owner and buyer for verification
• Original motor insurance certificate in the buyer's name. Ensure that the insurance policy of the motor vehicle is already in force on the transfer date and covers the full period of the vehicle's road tax
• Original and valid vehicle inspection certificate, if vehicle inspection is required prior to the renewal of road tax

Selling a car

Used cars can be advertised in the motoring magazines or on the websites listed below.

At the end of a COE of 10 years a part of the PARF value may be offset against a new purchase if the car is scrapped or exported. The car therefore has a value at the end of its COE lifespan. A car's COE can be extended by 5 or 10 years at the prevailing rate, however there will be no rebate at the end of its COE and the car must then be scrapped or exported.

The following must be provided by the seller:

• A completed Transfer of Ownership form (Downloadable form, select from the
• Identification documents
• Inspection certificates (if necessary)

Advertising a Car for Sale

• Automobile Association of Singapore (for vehicle checks, pricing information and much more)
  At: 336 River Valley Road AA Centre #01-00 Singapore 238366
  Branch Office: 2 Kung Chong Road Singapore 159140
  Tel: 6333 8811
  Fax: 6733 5094
  Website
• AngloINFO Cars For Sale / Wanted Forum
• Anderson Internet Advertising: SingaporeCarsOnline.com
• sgCarMart.com: classified ads for both used and new cars, including details of price, OMV, mileage for every car
• Highway Magazine from the Automobile Association of Singapore
• Singapore Vehicle Traders Association

Further Information

• AngloINFO INFOrmation Page Registering a Vehicle in Singapore
• AngloINFO INFOrmation Page Importing a Foreign Vehicle to Singapore
• AngloINFO INFOrmation Page Driving in Singapore