In brief
Car ownership in Singapore symbolizes prestige but comes with a hefty price tag, often resulting in individuals prioritizing vehicles over personal relationships.
Singapore, a densely populated city-state, has implemented strict regulations surrounding car ownership to tackle pollution and traffic congestion. The necessity for a Certificate of Entitlement (COE) is a prime example of this approach. For Andre Lee, a 33-year-old insurance agent, owning a used Kia Forte is not just about convenience; it's about the image it portrays. Lee purchased his vehicle for $24,000 in 2020, a significant markup compared to the American market, where such a car would cost considerably less. The COE, which can escalate to $84,000 depending on market value, is a unique requirement that some view as a status symbol—akin to wearing a Rolex, according to Lee. The costs extend beyond just the purchase price. "I know of people who treat their vehicles better than their family because it costs more to maintain a car than a family sometimes," he remarked. As the expense of owning a car in Singapore rises, it's clear that this lifestyle choice reflects not just personal need, but cultural values embedded in the fabric of Singaporean society.
