As the world continues to become more environmentally conscious, the popularity of electric vehicles (EVs) is rising. Singapore is no exception, with the government setting a target to have all cars run on cleaner energy by 2040. In this blog, we will guide you through buying electric vehicles in Singapore, from choosing the suitable model to understanding the charging infrastructure.
Process of buying electric vehicles in Singapore
1. Acknowledge Your needs
Before you start shopping for an EV in Singapore, it’s essential to understand your driving needs. Consider your daily commute, the distance you typically drive, and your driving habits. This information will help you determine the range and charging time you need in an electric car.
If you are buying an EV car as your primary vehicle, you will need a car with a more extended range.
2. Compare and Research your model
Once you know your requirements, you can start researching and comparing electric vehicles in Singapore. Several models are currently available in Singapore, ranging from compact hatchbacks to luxury SUVs. Consider the range, charging time, price, and features when comparing different models.
3. Test Drive the car
If you are a first-time electric vehicle user, it is essential to test drive the car to ensure that you enjoy the driving experience. Typically EVs have single-speed gearboxes, which means you will not feel the sensation of a gear change while driving the car.
4. Calculate the Total cost
When comparing electric vehicles in Singapore, it’s crucial to consider the total cost of ownership. This includes the purchase price, maintenance costs, and the cost of electricity to charge the car.
As electric cars might have a higher purchase price than their gasoline counterparts, they often have lower maintenance costs and are cheaper to fuel. Use an online cost of ownership calculator to estimate the lifetime costs of owning an electric vehicle.
5. Check for Incentives
The Singapore government offers several incentives to encourage the adoption of electric vehicles. These incentives include a 45% rebate on the Additional Registration Fee (ARF) and a 20% rebate on the Excise Duty for fully electric cars in Singapore.
Besides, electric vehicle owners are eligible for lower road tax rates and the Green Vehicle Rebate (GVR), which offers a one-time rebate of up to $20,000 for electric cars.
6. Check the battery life
Battery life is one of the most critical factors when buying electric vehicles in Singapore. A car with a worn-out battery will have a shorter range and require more frequent charging, which can be inconvenient.
Hence, whenever researching electric cars, look for models with high-quality batteries that have a long lifespan. You should also consider the warranty on the battery, as this can be a significant expense if the battery needs to be replaced.
7. Find Charging Stations
One of the most significant concerns for electric vehicle owners is finding charging stations. Fortunately, Singapore has an extensive charging station network, with over 1,200 publicly accessible charging points.
Hence before buying an electric car, research the charging stations in your area and along your usual routes. Also, consider installing a charging point at your home to certify that you always have a convenient place to charge your car.
8. Financing Options
At the time of buying an electric vehicle in Singapore, financing is a crucial aspect. Financing an electric vehicle is similar to funding a gasoline car. You can buy the car outright, finance it through a bank or dealer or lease it.
Besides, some banks and dealerships can also offer lower interest rates or unique financing options for electric vehicles.
9. Register your Electric vehicle
After purchasing your electric vehicle, you must register it with the Land Transport Authority (LTA). You must also provide the necessary documents, such as the vehicle’s registration certificate, insurance policy, and proof of ownership. The same is also applicable when buying an electric car in Singapore.
Besides, you must pay the applicable fees, such as the registration fee and road tax. Also, check the current prices and requirements on the LTA website.
10. Maintain your Electric vehicle
Electric cars require regular maintenance to ensure that they perform at their best. Also, follow the manufacturer’s recommended maintenance schedule and take the car for service as needed.
Proper care and maintenance can extend the lifespan of your electric vehicle and ensure that it operates efficiently.
11. Take advantage of Existing Rebates – Enhanced Vehicular Emissions Scheme
Per the enhanced VES scheme, buyers can get a rebate or a surcharge for the car they buy based on the pollutants the vehicle emits. The contaminants identified are carbon monoxide, hydrocarbon, nitrogen oxides, and particulate matter. According to the level of pollutants the car emits, it will be graded within a brand.
Buying electrics vehicle in Singapore requires careful consideration and research. By understanding your needs, researching and comparing models, calculating the total cost of ownership, checking eligibility for incentives, finding charging stations, considering battery life, test driving and inspecting the vehicle, exploring financing options, registering the car, and maintaining and caring for your electric vehicle, you can make an informed purchase and enjoy the benefits of a cleaner, more sustainable mode of transportation.