REAL REASON WHY CARS ARE EXPENSIVE IN SINGAPORE (NOT COE!)

REAL REASON WHY CARS ARE EXPENSIVE IN SINGAPORE (NOT COE!)


Even the cats that live in Mars would know that Singapore cars are the most expensive in the world Heck, even The Stone smelled what the price is cooking Stone Hot: Moral of the story: Don’t buy cars in Singapore and the Resident Evil girl was shocked as well Many people think that it’s the COE that makes the cars expensive But actually, they’re wrong It’s actually something else So, what’s the real reason? Let Goody Feed explain why cars are so expensive in Singapore in Perfect Singlish I know no one watches our videos except three people our boss, me and our office cat The thousands or tens of thousands of views in our videos are due to our boss refreshing the video every three seconds but but but In case we have viewers from outside of Singapore let me show you the prices of cars in Singapore We’ll use one of the most popular cars in Singapore,
the Toyota Vios That small and compact car costs about $84K now and you can only drive it for ten years You can buy the same car for just $27K in Malaysia and you can drive the car forever And because it’s a Toyota you’ll break down before the car break down Also remember: that $84K is just for the car and its COE You’ll still need to buy insurance and whatnot So if you’re as poor as me who works in Goody Feed even if you sell your kidney, lungs, intestines or
one of your eyeballs you can just afford the steering wheel And in case you’re a foreigner who wonders why, here’s why: The authorities do this to prevent jams on the road Because Singapore is small, the roads will be congested if everyone buys a car But how does the price balloon to such an extent? One word: tax Actually, it should be Taxes (Not the US state) Yeah, not just COE, though that’s considered a tax as well Because the prices of cars are complicated we’ll use another example instead Just think of this T-shirt as a limited edition T-shirt worn by KK Lim, a popular Singaporean singer So basically, the cost of making this T-shirt is $10 But because KK Lim has worn it, and he only wears one T-shirt a day, people started to bid for it in eBay The highest bid is, say, an extra $10 If you fail the bid, you have to come back tomorrow after KK Lim wears another T-shirt So now, the total price of the T-shirt has become $20 But there’s an additional cost that many people
didn’t know about The Additional Registration Fee, also known as the ARF That is the killer: it’s 100% to 180% of the cost price So if the T-shirt cost price is $10, then the ARF is up to $18 That means if you add the cost price of $10 bidding price of $10 and ARF of $18, the T-shirt will now cost $38 There are still other costs involved, like other smaller fees the dealer’s profits, etc So maybe the final selling price will be $40 Now you see why a T-shirt that cost $10 can balloon to $40? So, if we change the T-shirt to a car, it’s the same While the bidding price, which is the COE, can drop the ARF will always be the same So even if one day, the COE drops to $1 because no one likes KK Lim anymore, the final price of the T-shirt will still be at $30 Still very expensive, right? So, if you are still dreaming of buying a car right, I have a good news for you DON’T WAKE UP And also, since you’re sleeping, can you subscribe to us and also watch the other two videos? They’re not bad, our videos are so boring they can keep you sleeping longer Go on, subscribe now If you subscribe, we’ll burn a car for you

About the Author: Michael Flood

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