Vehicle registration fee to rise by 59% from $220 to $350

[BabyBlade]

https://www.straitstimes.com/singapore/transport/vehicle-buyers-to-pay-more-as-lta-increases-its-fees-registration-fee-up-59-per-cent-to-350

In a letter sent on Dec 5 to motor traders, which was obtained by The Straits Times, the LTA said 25 fees and charges will rise from Dec 19.

They include fees for vehicle registration as well as those for certificate of entitlement (COE) transfers, vehicle-type approvals and vehicle recall notifications.

LTA said the hikes were necessary to keep up with administrative costs, adding that the last revision was in 2017.

Most fees will be increased by between 10 and 25 per cent, with the vehicle registration fee seeing the sharpest spike at 59 per cent.

This fee, which is payable each time a new vehicle is registered for use in Singapore, will go up from $220 to $350.

It was raised periodically over the years. The fee was $140 in 2000 and then increased to $220 in 2017 – a 57 per cent hike.

For motorcycles, the registration fee was $5 before 1998.

Given that 45,000 to 125,000 new vehicles are registered each year, the increase in the registration fee alone could add $5.9 million to $16.3 million to LTA’s revenue.

Motor traders were surprised by the LTA move, which comes as COE premiums remain at near record levels and core inflation stays high.

Mr Neo Nam Heng, chairman of diversified motor group Prime, said: “Everything is increasing – from vehicle inspection to chicken rice. This will only add to costs, which may be passed on to consumers.”

Mr Nicholas Wong, general manager of Honda agent Kah Motor, said: “I think in this period of high COE prices and poor market sentiment, it is bad timing for the increase.”

An ST report showed that car buyers have been shying away from showrooms amid sky-high COE prices, with scores of car sales staff leaving the industry as well.

Added Mr Wong: “The most impactful is the increase in registration fee from $220 to $350 – this is a 59 per cent jump! I think it’s not justifiable, and adds to the inflation rate. Dealers will have to absorb these costs.”

Mr Neo Tiam Ting, director of parallel importer Think One, said: “Under current costing, there would be no change. But moving forward, when dealers redo their costing, they will include this increase. Most dealers include it (the registration fee) in the packaged price.”

Mr Norman Lee, a director at motorcycle retailer Race Werks, said: “Isn’t it ironic that most LTA services are already digitised, online or self-service.

“Yet, over the years, such costs have had to rise, instead of falling because of cost savings and increased productivity?”

[Fitvip]

Car buyers, be prepared to be further milked.

[Wt_know]

21 minutes ago, Fitvip said:

Car buyers, be prepared to be further milked.

well whenever ah gong give out chicken wings

where do you think the $$$ comes from?

all car related taxes and fees are the CASH COW

 

Edited December 8, 2022 by Wt_know

[Fitvip]

Just now, Wt_know said:

well whenever ah gong give out chicken wings

where do you think the $$$ comes from?

 

 

[Soya]

2nd hand car transfer fee now a flat $10

Used to be a % fee which is definitely more than $10

I smell prata coming

U prefer curry on the side or on top?

 

 

[Jamesc]

Let's put things into perspective.

COE down 3k this one up $130.

So you still save $2870.

So cars are cheaper now.

Buy buy buy bye bye

 

[ER-3682]

Have Money Buy Car,just Buy,don't bother about what are COE,Reg Fees,GST,ERP,Carpark Fees,Petrol Costs & Maintence etc...just ask the price On The Road..happy or reasonable just buy.

Edited December 8, 2022 by ER-3682

[Wt_know]

3 minutes ago, ER-3682 said:

Have Money Buy Car,just Buy,don't bother about what are COE,Reg Fees,GST,ERP,Carpark Fees,Petrol Costs & Maintence etc...just ask the price On The Road..happy or reasonable just buy.

buy liao park in carpark cannot drive because cui and scammer dealer say “we will fix it” - tan ku ku … 

[ER-3682]

29 minutes ago, Wt_know said:

buy liao park in carpark cannot drive because cui and scammer dealer say “we will fix it” - tan ku ku … 

Then buy new Car...🤣

[13177]

1 hour ago, Fitvip said:

Car buyers, be prepared to be further milked.

Not only car buyers la, they will find any chance to milk all people if possible. No way to escape from it. 🙄

[Heartlander]

1 hour ago, BabyBlade said:

Mr Norman Lee, a director at motorcycle retailer Race Werks, said: “Isn’t it ironic that most LTA services are already digitised, online or self-service.

“Yet, over the years, such costs have had to rise, instead of falling because of cost savings and increased productivity?”

Actually digitised, online, or self-service does not mean not affected by rising costs. The backend infra enabling the services still need to be maintained and renewed periodically with IT support. Nothing is free in this world.

To me if can afford a car, this few hundred bucks should not be an issue. Many here always pay in full so this peanut would not cause any hardship lah.

[Beehive3783]

1 hour ago, BabyBlade said:

https://www.straitstimes.com/singapore/transport/vehicle-buyers-to-pay-more-as-lta-increases-its-fees-registration-fee-up-59-per-cent-to-350

In a letter sent on Dec 5 to motor traders, which was obtained by The Straits Times, the LTA said 25 fees and charges will rise from Dec 19.

They include fees for vehicle registration as well as those for certificate of entitlement (COE) transfers, vehicle-type approvals and vehicle recall notifications.

LTA said the hikes were necessary to keep up with administrative costs, adding that the last revision was in 2017.

Most fees will be increased by between 10 and 25 per cent, with the vehicle registration fee seeing the sharpest spike at 59 per cent.

This fee, which is payable each time a new vehicle is registered for use in Singapore, will go up from $220 to $350.

It was raised periodically over the years. The fee was $140 in 2000 and then increased to $220 in 2017 – a 57 per cent hike.

For motorcycles, the registration fee was $5 before 1998.

Given that 45,000 to 125,000 new vehicles are registered each year, the increase in the registration fee alone could add $5.9 million to $16.3 million to LTA’s revenue.

Motor traders were surprised by the LTA move, which comes as COE premiums remain at near record levels and core inflation stays high.

Mr Neo Nam Heng, chairman of diversified motor group Prime, said: “Everything is increasing – from vehicle inspection to chicken rice. This will only add to costs, which will be passed on to consumers.”

Mr Nicholas Wong, general manager of Honda agent Kah Motor, said: “I think in this period of high COE prices and poor market sentiment, it is bad timing for the increase.”

An ST report showed that car buyers have been shying away from showrooms amid sky-high COE prices, with scores of car sales staff leaving the industry as well.

Added Mr Wong: “The most impactful is the increase in registration fee from $220 to $350 – this is a 59 per cent jump! I think it’s not justifiable, and adds to the inflation rate. Dealers will have to absorb these costs.”

Mr Neo Tiam Ting, director of parallel importer Think One, said: “Under current costing, there would be no change. But moving forward, when dealers redo their costing, they will include this increase. Most dealers include it (the registration fee) in the packaged price.”

Mr Norman Lee, a director at motorcycle retailer Race Werks, said: “Isn’t it ironic that most LTA services are already digitised, online or self-service.

“Yet, over the years, such costs have had to rise, instead of falling because of cost savings and increased productivity?”

I made an amendment to the article, hope you don't mind  

 

Mr Neo Nam Heng, chairman of diversified motor group Prime, said: “Everything is increasing – from vehicle inspection to chicken rice. This will only add to costs, which will be passed on to consumers.”

Edited December 8, 2022 by Beehive3783

[ER-3682]

11 minutes ago, 13177 said:

Not only car buyers la, they will find any chance to milk all people if possible. No way to escape from it. 🙄

At least Singapore Gov't took our Money & put it in the Country's "Safe Box"..better than our Neighbour...put in Minister's Pockets.

[ER-3682]

Anyway a few Hundreds Dollars is nothing to the Car Dealer or to the Buyer,Singapore is almost the most expensive place on Earth to buy a Car,what is a few Hundrens Dollars to us.?

[Kklim]

GST increase not enough to recover the billions spent on Covid, sports hub, SPH, etc. 

[kobayashiGT]

2 hours ago, BabyBlade said:

https://www.straitstimes.com/singapore/transport/vehicle-buyers-to-pay-more-as-lta-increases-its-fees-registration-fee-up-59-per-cent-to-350

In a letter sent on Dec 5 to motor traders, which was obtained by The Straits Times, the LTA said 25 fees and charges will rise from Dec 19.

They include fees for vehicle registration as well as those for certificate of entitlement (COE) transfers, vehicle-type approvals and vehicle recall notifications.

LTA said the hikes were necessary to keep up with administrative costs, adding that the last revision was in 2017.

Most fees will be increased by between 10 and 25 per cent, with the vehicle registration fee seeing the sharpest spike at 59 per cent.

This fee, which is payable each time a new vehicle is registered for use in Singapore, will go up from $220 to $350.

It was raised periodically over the years. The fee was $140 in 2000 and then increased to $220 in 2017 – a 57 per cent hike.

For motorcycles, the registration fee was $5 before 1998.

Given that 45,000 to 125,000 new vehicles are registered each year, the increase in the registration fee alone could add $5.9 million to $16.3 million to LTA’s revenue.

Motor traders were surprised by the LTA move, which comes as COE premiums remain at near record levels and core inflation stays high.

Mr Neo Nam Heng, chairman of diversified motor group Prime, said: “Everything is increasing – from vehicle inspection to chicken rice. This will only add to costs, which may be passed on to consumers.”

Mr Nicholas Wong, general manager of Honda agent Kah Motor, said: “I think in this period of high COE prices and poor market sentiment, it is bad timing for the increase.”

An ST report showed that car buyers have been shying away from showrooms amid sky-high COE prices, with scores of car sales staff leaving the industry as well.

Added Mr Wong: “The most impactful is the increase in registration fee from $220 to $350 – this is a 59 per cent jump! I think it’s not justifiable, and adds to the inflation rate. Dealers will have to absorb these costs.”

Mr Neo Tiam Ting, director of parallel importer Think One, said: “Under current costing, there would be no change. But moving forward, when dealers redo their costing, they will include this increase. Most dealers include it (the registration fee) in the packaged price.”

Mr Norman Lee, a director at motorcycle retailer Race Werks, said: “Isn’t it ironic that most LTA services are already digitised, online or self-service.

“Yet, over the years, such costs have had to rise, instead of falling because of cost savings and increased productivity?”

They just gave us GST cash payout right? 😁

Nothing wrong lah. They give liao, they must find way to take back mah. hahahaha. this is how a food chain works. 

[Wt_know]

if you check your bank acct, today receive ah gong chicken wings liao ...

 

[Inlinefour]

cheng hu huat ah 🤑🤑🤑 

 

let’s contribute to multi million cabinet oops typo nation building 🤩🤩🤩 

 

boleh pm no wage minister 20% pay cut 👍👍👍

 

ours laughing to the bank 🤣🤣🤣