The Straits Times Podcasts S1E84: Is owning a car in Singapore now out of reach?
Will the recent changes to the preferential additional registration fee (PARF) rebate and the current COE prices turn away car buyers?
Prime Minister Lawrence Wong announced in his Budget speech on Feb 12 that the PARF rebate will be lowered by 45 percentage points.
The maximum rebate a car owner can expect to receive will be halved from $60,000 to $30,000.
If you're looking to buy a car, should you go for a new car, a second-hand ICE vehicle, or just give up that dream altogether?
In this episode of The Usual Place, ST’s senior transport correspondent Lee Nian Tjoe and veteran automotive consultant Say Kwee Neng share their thoughts.
Highlights (click/tap above):
1:21 What is the significance of the PARF?
4:21 Is the PARF rebate reduction a “stick” to get buyers to choose EVs?
8:56 A stealthy wealth tax?
14:53 The implications of older EVs on the road
19:11 The iPhone vs older EVs comparison
24:11 What’s happens to the used car market now?
27:06 Most cost-efficient option now
30:36 Are your dreams of owning a car over?
Filmed by: Studio+65
Edited by: Teo Tong Kai, Eden Soh and Chen Junyi
Executive producer: Danson Cheong
Editorial producer: Elizabeth Law
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