How Leasing a Car Can Save You Money on COE Costs in Singapore

Owning a car in Singapore isn’t just about picking your dream ride, it also means securing a Certificate of Entitlement (COE), a permit that allows you to own and drive a car for a period of 10 years. But here’s the catch—it doesn’t come cheap. The COE cost fluctuates based on market demand, making it one of the biggest expenses of car ownership.

But what if you could skip the stress of paying for a COE and still enjoy the convenience of having your own car? That’s where leasing comes in! Here’s how leasing a car can help you save money and avoid the financial burden of COE costs.

1. No Upfront COE Payment—More Cash in Your Pocket

One of the biggest hurdles to car ownership in Singapore is the COE, which can soar beyond $100,000. When you buy a car, you need to fork out this amount on top of the vehicle price, making it a significant financial commitment.

Leasing, on the other hand, includes the COE cost in your monthly fee. That means no need to empty your savings or take out a hefty loan just to secure your vehicle. Instead, you get a smooth, predictable payment plan without the stress of a massive initial outlay.

2. Shield Yourself from Fluctuating COE Prices

One day, COE prices are reasonable; the next, they shoot through the roof! The unpredictability of the COE makes car ownership a risky financial move, as you could end up paying significantly more if prices surge.

New car leasing provides peace of mind because your costs are fixed. No matter how high the COE cost rises, your leasing fee remains the same throughout your contract. This stability allows you to plan your finances better without the fear of unexpected price hikes.

3. Flexibility with Shorter Commitment Periods

When you buy a car, the COE is valid for 10 years, making it a significant financial commitment. While you can sell your car before the COE expires, market conditions and depreciation may impact its resale value, making ownership a less flexible option. 

Leasing offers shorter contract terms, allowing you to drive without being locked in for a decade. Whether you opt for a long term lease a car or one for just a couple of months, you have the flexibility to choose a lease period that suits your lifestyle. When your lease is up, you can easily switch to a new car or walk away without worrying about renewing a costly COE.

4. All-In-One Convenience for Stress-Free Driving

Car ownership comes with a long list of additional expenses beyond the COE cost. Think road tax, insurance, servicing, and unexpected repairs that can all add up quickly, making budgeting a challenge.

New car rental simplifies everything by bundling these expenses into a single monthly payment. With COE, insurance, maintenance, and road tax all covered, you won’t have to worry about surprise bills or juggling multiple payments. It’s a hassle-free way to enjoy driving without financial headaches.

If the thought of paying a staggering COE upfront makes you hesitate, leasing is a fantastic alternative and at Eurokars Leasing, we make car leasing simple, flexible, and cost-effective. With a wide selection of vehicles, transparent pricing, and all-inclusive lease packages, you can enjoy the freedom of driving without worrying about fluctuating COE. Get in touch with Eurokars Leasing today and find the perfect ride for your needs!