number of vehicles result in traffic jams and road scarce. The governmental measures include the certificate of entitlement (COE), Vehicle Quota System (VQS), road taxes and electronic road pricing (ERP). All the motor vehicles must be registered with the Land Transport Authority (LTA).

Certificate of entitlement (COE) and Vehicle Quota Scheme (VQS)
The COE scheme is a hot topic of public debate and the most controversial policy ever implemented. Any person who wants to own a car or motorcycle has to bid for a certificate of entitlement. Every month a certain number of COE's are released for bidding. If the person is successful in the bidding then the vehicle entitlement is valid for 10 years from the date of registration. The steps involved to register for a new vehicle are:

• Bid for a COE under he appropriate category (there are about 7 categories but the ones that are applicable for buying a car are the small, medium, luxury categories for cars and motorcycles).
• The COE tender takes place from 1st to 7th of every month.
• You can bid for a COE either electronically or through an agent.
• A tender deposit of fifty percent bid mount is deducted from your bank account.
• With exceptions for companies and organizations every individual is allowed only one bid in each tender. If anyone is found to be making more than a single application then all his applications will be rejected.
• The COE's for most of the categories are non-transferable.
• The successful bidder needs to pay the lowest successful bid price, also known as quota premium. The vehicle must be registered within 6 months for non-transferable categories and within 3 months for the transferable categories.

Vehicle taxes and registration fee
A customs duty of 41% is exercised for all the motor vehicles that are imported into Singapore. Then there is a registration fee of 1000 s$ for private vehicles and $ 5000 for company that is to be paid. Additionally when a car is registered first (new or used), an additional registration fee (ARF) of 150% of the cars open market value is payable.

Electronic Road Pricing (ERP)
The principle of electronic road pricing is based on the pay-per use strategy and is intended to reflect the true cost of driving. . ERP has been extended to choke-points on other expressways and major roads in order to alleviate congestion, especially at the dreaded 8.30 a.m. - 9.30 a.m. timeslot where charges and traffic alike are at their highest. 8.25 a.m. sees a free for all before the ERP gantry as drivers try and 'beat the increase' while 8.59 a.m. sees traffic slow to a snail's pace for the same reason!
All in-vehicle units have now been installed in vehicles and every new car purchased in Singapore must have one.

Road taxes
Road taxes are charged on a half yearly or yearly basis. You can renew your roads tax only if your vehicle has a valid inspection certificate. Cars that are 3 to 10 years old need to be inspected once in two years and cars older than 10 years need to be inspected every year.

Some estimates of car prices
Audi A41.8 (A) $182,000 (including COE),
BMW 328 (A) (2.8 cc) $238,000 (including COE);
Mercedes 200E $201,902;
Volvo 940
Turbo Estate 2.0 (A) $160,753.

Total cost of the car
Registration fee + Cost Price + Road Tax + COE + additional registration fee (140% of OMV) and customs duty (31% of OMV).

Used cars
Buyers of second-hand cars need to pay a transfer fee of 2% of the assessed value of the car. The Registry of Vehicles (ROV) will calculate this amount for you. You also need to pay the road tax if it has expired. Your car insurance must be valid. Transfer of ownership must be done within seven days of the purchase.

Additional Transfer Fee 2% of depreciated value of vehicle to be determined by the LTA

Documents to be Submitted

• Transfer form, duly completed
• Original vehicle registration book/card
• Original insurance certificate in the new owners name (covering the full period of valid road tax).
• Original and valid vehicle inspection certificate, if vehicle inspection is required prior to the renewal of road tax.
• For company registered vehicles:
  o Original company registration certificates of buyer and seller o Original NRIC or passport (for foreigners) of company's manager
• For vehicles in individual's name
• Original NRIC or passport (for foreigners) of buyer and seller.
• Original road tax disc, if the vehicle is to be re-registered or transferred from a private individual to a company or vice-versa.
• Original vehicle parking certificate, applicable to heavy vehicles only.

Notable points

• For vehicles under COE Category A and Category B, ownership transfer is allowed only after the first three months from the date of registration.
• An Additional Levy (AL) on top of the transfer fees may be imposed if a transfer of ownership occurs within the 4th to 6th month from the date of registration. The AL is the positive difference between the Quota Premium of the relevant car quota category at the point of transfer and the quota premium paid for the registration of the car.
• A transfer of ownership within the first three months from the date of registration may be allowed in the event of death of the registered owner. However, the transfer of ownership application may be subjected to AL.