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Singaporeans Need $73,549 Just for Right to Buy a Car

Corrected

The cost of buying the right to own a car in Singapore hit a record for the third consecutive bidding, according to data released by the Land Transport Authority.

Bids for open category certificates of entitlement (COE), which can be used for any vehicle type but end up being used mainly for large cars, increased to a high of S$99,999 ($73,549) in April’s first round of bidding. That’s a cost incurred before purchasing the actual vehicle.