Brand new cars you can buy for S$1,400 a month in Singapore

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Luke Pereira

04/03/2022

Looking to buy a brand new car for S$1,400 a month in Singapore? Here’s seven choices you can consider without having to break the bank.

SINGAPORE

Car prices in Singapore are among the highest in the world, no thanks to prohibitive taxes and Certificate of Entitlement (COE) premiums. If you do need a car though, you can still get around with a reasonable budget, and here’s a list of cars you can own for about S$1,400 a month.

According to the Monetary Authority of Singapore (MAS), car buyers can take out a maximum loan of 70 per cent of the car’s purchase price if the Open Market Value (OMV) is less than or equal to S$20,000. For cars whose OMV are above S$20,000, the maximum loan percentage is capped at 60 per cent, and all car loans are restricted to a tenure of seven years.

Honda HR-V

Price with COE (as of March 2022)	S$127,999 (1.5 DX petrol)
OMV	S$19,215
Downpayment (30%)	S$38,399
Loan Amount (70%)	S$89,599
Monthly payment (based on 7-year loan at 2.78% interest rate)	S$1,274

The all-new 2022 Honda HR-V has been completely revamped, and the major change in this generation is the addition of the e:HEV hybrid variant available for the first time through official distributor Kah Motor. It nets a S$15,000 VES A2 rebate, while offering a quoted fuel consumption figure of 4.3L/100km, but the hybrid model also costs a hefty S$165,999 with COE.

There is the non-hybrid HR-V though which retails for much less, at S$127,999 with COE. This version is powered by a 1.5-litre petrol that produces 118hp and 142Nm of torque, with a quoted fuel consumption figure of 5.8L/100km. Opting for the petrol-powered HR-V means you save S$38,000 over the hybrid, which is a pretty substantial figure.

The new HR-V now offers slightly more interior room with rear passengers now having 35mm more space. Wireless Apple CarPlay and Android Auto connectivity come as standard for the petrol model, along with a 9.0-inch LCD display for infotainment. The HR-V also comes with the Honda Sensing suite of driver assistance features, which includes adaptive cruise control, collision mitigation braking, and lane-keeping assist.

Given that the previous model was one of the best-selling cars in Singapore, for S$1,274 a month, the new HR-V, in non-hybrid guise, could prove to be excellent value for money.

Toyota Corolla Altis

Price with COE (as of March 2022)	S$132,888 (1.6 Elegance petrol)
OMV	S$19,343
Downpayment (30%)	S$39,866
Loan Amount (70%)	S$95,249
Monthly payment (based on 7-year loan at 2.78% interest rate)	S$1,134

The Toyota Corolla Altis is one of the best selling cars in Singapore, and the latest version, launched in 2020, moves the game on, with its updated styling and improved interior. For the first time, there’s a hybrid variant too, but for most buyers the regular petrol model should suffice.

The Altis now comes with the Toyota Safety Sense (TSS) suite of driver assistance features as standard on the higher-spec Elegance model, which goes for S$132,888 with COE. Features on the TSS suite include Dynamic Cruise Control, Lane Departure Warning with Steering Assistant and Pre-Collision System (PCS).

The 1.6-litre engine on the non-hybrid Altis produces 129hp and 159Nm of torque, which should be more than adequate for your daily driving needs. For just S$1,134 a month, the Corolla Altis makes for the perfect point A to point B car for the average family man.

Skoda Octavia

Price with COE (as of March 2022)	S$159,900 (1.5 e-TEC Style)
OMV	S$24,649
Additional Registration Fee (ARF)	S$11,509 (After $15,000 VES rebate)
Downpayment (40%)	S$63,960
Loan Amount (60%)	S$95,940
Monthly payment (based on 7-year loan at 2.78% interest rate)	S$1,364

The Skoda Octavia is now the sole choice if you want a European brand in the family sedan segment. The new car is now 19mm longer, 15mm wider and 9mm higher than the previous generation model, which means you get more interior space for passengers. There’s also an impressive 600 litres of boot space for storage.

The Octavia is powered by a 1.5-litre turbocharged four-cylinder with 150hp and 250Nm of torque. Skoda quotes an average fuel consumption of 5.3 litres per 100km, which helps you save even more given the growing prices of fuel.

The top-spec Style version, which goes for S$159,900 inclusive of COE, gets a 10-inch infotainment screen, wireless Apple CarPlay connectivity, and an electric boot tailgate. If you’re looking for a comfortable family sedan to meet your everyday driving needs, for S$1,364 a month, the Octavia is an excellent choice.

Honda Civic

Price with COE (as of March 2022)	S$139,999 (1.5 Turbo)
OMV	S$25,929
Additional Registration Fee (ARF)	S$28,301
Downpayment (40%)	S$55,999
Loan Amount (60%)	S$84,000
Monthly payment (based on 7-year loan at 2.78% interest rate)	S$1,195

The 11th-gen Honda Civic has been redesigned, and now looks slightly more upmarket, placing it closer to its family siblings like the Accord. Its biggest talking point is its 1.5-litre turbocharged engine, which produces 129hp and 180Nm of torque, and returns a quoted average fuel consumption of 6.4L/100km.

Inside, the cabin feels rather premium, and you get neat touches like the honeycomb mesh that runs across the width of the dashboard which hides the aircon vents behind them. The Civic also comes with a 9.0-inch infotainment touchscreen with wireless Apple CarPlay and Android Auto as standard. With the car now 44mm longer than the previous model, that means there’s plenty more rear legroom than before.

The Honda Sensing suite of advanced driver assistance systems (ADAS) which includes adaptive cruise control, lane-keeping assist, and collision mitigation braking system comes as standard with the Civic. For just S$1,195 a month, it makes for a perfectly competent family car.

Mini One 5-Door

Price with COE (as of March 2022)	S$146,888
OMV	S$28,000 (estimated)
Additional Registration Fee (ARF)	S$16,000 (estimated) (After $15,000 VES rebate)
Downpayment (40%)	S$58,755
Loan Amount (60%)	S$88,133
Monthly payment (based on 7-year loan at 2.78% interest rate)	S$1,253

Minis are arguably aimed at young, single people, but the 5-Door model tries to add a dose of practicality into the mix. While the One 5-Door is the entry-level model, it still comes with plenty of premium features.

Being a Mini, the rear seats are a bit of a squeeze. But you do get the latest version of Mini’s infotainment operating system software with an all-digital central touchscreen.

The Mini One 5-Door is powered by a 1.5-litre turbo three-pot that produces 102hp and 190Nm of torque. Although the power doesn’t seem much, it’s more than enough for zipping around town given that it weighs just 1,300kg or so.

At S$146,888 inclusive of COE, the One 5-Door is a relative steal, given that it costs only S$1,253 a month for a car that offers premium top-spec features.

Kia Niro Hybrid

Price with COE (as of March 2022)	S$138,999 (1.6 SX)
OMV	S$29,935
Additional Registration Fee (ARF)	S$18,909 (After $15,000 VES rebate)
Downpayment (40%)	S$55,599
Loan Amount (60%)	S$83,399
Monthly payment (based on 7-year loan at 2.78% interest rate)	S$1,186

The Kia Niro Hybrid is a practical and efficient crossover that’s affordable and packed with features. Highlights on the top-spec SX version, which goes for S$138,999 with COE, include a 8.0-inch touchscreen infotainment system with Apple CarPlay and Android Auto compatibility, seven airbags, and Lane Keeping Assist.

Headroom and legroom are generous throughout the cabin, and the boot offers a decent 427 litres of cargo capacity, expandable to 1,434 litres with the rear seats folded down. The Niro Hybrid’s 1.6-litre powerplant produces 130hp, helping it net a Cat A COE, and fuel consumption is quoted at 4.0L/100km.

From an objective standpoint, the Kia Niro Hybrid ticks a good amount of boxes for the average daily driver who only requires an A-to-B car. For S$1,186 a month, you get a practical car with plenty of room for family, while its hybrid drivetrain means that it’s highly efficient and also helps you save on your fuel bills.

Nissan Kicks e-Power

Price with COE (as of March 2022)	S$125,800 (Premium)
OMV	S$24,290
Additional Registration Fee (ARF)	S$11,006 (After $15,000 VES rebate)
Downpayment (40%)	S$50,320
Loan Amount (60%)	S$75,480
Monthly payment (based on 7-year loan at 2.78% interest rate)	S$1,073

The Nissan Kicks offers a unique package with plenty of pluses, one which is combining an EV driving experience with petrol flexibility.

The Kicks’ unique selling point though is its e-Power drivetrain, which uses an electric motor to drive the wheels, and a petrol engine, in this case a 1.2-litre 3-cylinder unit, whose sole job is to recharge the batteries used to power the motor. The electric motor produces 129hp and 260Nm of torque, delivered instantaneously, giving it an EV-like driving behaviour.

More importantly, because the petrol engine is only used to recharge the batteries, and isn’t used for actual driving, the Kicks is able to achieve a quoted fuel economy figure of 4.6 litres per 100km, and a theoretical driving range of 820km on a full tank of fuel.

The base Premium spec, at S$125,800 with COE, already comes well-equipped with features, with auto wipers/lights/mirrors, single-zone AC, keyless entry and start, as standard. But what makes it stand out is its safety features: forward collision warning, driver alertness monitoring, and seven airbags in total. The boot offers 423 litres of space with the 40/60 split-folding ability.

There is a top-spec Premium Plus Adventure Series version that features a sporty body kit which includes front aerodynamic skirting, rear aerodynamic skirting with sports diffuser, and a side aerodynamic skirting with silver and red accents, and is priced at S$130,800, which still sneaks under the S$1.2k limit per month.

If you seek a car that’s efficient, affordable and spacious, the Nissan Kicks e-Power Hybrid comes in at an affordable S$1,073 a month in Premium spec.

About the Author

Luke Pereira

CarBuyer's content producer loves producing entertaining, relatable content. He spends all year waiting around for Mariah Carey. Rumour has it he was married twice and is 'Luke Perry' incarnate are unfounded. @lukeypereira