I think the worst part is the COE has NO VALUE after 10 years. It’s not like the price of cars starts higher then depreciates at the same percentage rate as in other countries. No, you’re paying $7,600 every year to entitle you to own a car. On the other hand, this means you very very rarely see cars >10 years old.
That’s the saddest part - the COE is straight line depreciation, it comes to $25 SGD per day. That is enough for three very square meals.
On the other hand, no cars over 10 years old is a SAD thing - it’s very rare to see an interesting car here. Sure, you see supercars, which is fun - but not the classics or anything interesting
Yes, it was a great move for safety as well. (although the accident rate here is still ridiculously high)
But as someone who likes cars, it is very disappointing to never see anything interesting. Nor can I, due to the prices - ever aspire towards owning something “just for fun and cruising”.
Did you really think this one through or is this a whoosh? Unless you plan to sell the old inefficient cars to other planets, the pollution and CO2 emissions will still happen here on earth.
I read an article yesterday on a conservative investor. He mentioned Singapore as a great place to invest because they don’t have all the taxes and regulations like the United States. I assume that means no regulations or taxes on businesses and investment, because there seem to be a fair number of taxes and an incredible number of regulation on individuals.