Ways to save on car ownership costs in Singapore

Cars are very expensive commodity in the land of Singapore. For Singaporean car owners , the car budget forms a major chunk of their household budget and other small car related costs could add up. Below are some of the ways to save on car costs in Singapore. Little drops makes mighty oceans- small savings saves you a big chunk !

1.Play with the ERP 

ERP or Electronic Road Pricing is the automated charges on the cars in Singapore using the ERP gantries, where you are taxed a premium for using a certain road at certain given time, usually peak hours to help reduce the traffic congestions.

These sounds good for traffic management, however, little payments of ERP could total up a lot over the year. On an average the peak hour ERP cost range from anything between S$2 to S$6. These average peak hour costs of $8 through out the day could total up to S$2496 over the year.

How do you play  ?  Smart plan your route. Check sites like gothere.sg or one motoring and check the ERP Rates- find the best route out. Or Plan the time you are about to use the route- Drive early to office/ gym ? If you wanna run errands around ERP routes that probably can be left for the weekend – ERP costs less on Sundays- need we say more ? : D

2.Parking Play

Singapore being one of the most densely parked cities, parking spaces are damn expensive. The parking costs in residential areas are comparatively higher. The charges totaling up in the CBD area can easily sum up to S$20 a day. The best to save by not parking in CBD could be parking around MRTs and hopping the train to work.

Alternatively you could check apps like Park&Go@SG , SingaporeParking etc., which could give you an better idea of available spaces and charges.

3.Saving on Fuel costs

Fuel costs are unavoidable- the only way out here could be using tricks to save on them. Not driving during rush hours could save you on frequent breaks and stops and save your bits on fuel costs. Also avoiding high traffic routes, could do the trick a bit.

We would recommend to use clean and efficient fuel and also sign up for cards which offers cash backs on fuels. Little bit of help can save there.

4.Care for the car- reduce maintenance

Taking good care of your car, save expenses on the long run. Smooth running cars consume less fuel – savings ! Well maintained cars- like checking the engine oils, tire pressures, batteries etc. regularly could save you on breakdowns and towing charges.

5.Follow the law

Certain fines in Singapore can be quite expensive. It is good practice to always follow the laws of the land- even rules like speed limits, lane changes etc. count.  Making sure the type of car insurance you purchase is the right one for you also helps.