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FIVE CHEAPEST
YOU CAN BUY NOW
NEW CARS
THE
TEXT BY Ben Chia
PHOTOS BY Low Fai Ming and sgCarMart
Five cars to consider for car renewal
Contrary to popular belief, buying a new car may not necessarily cost you a bomb. Here are the five cheapest new cars you can buy right now in Singapore.
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he premiums for Certificates of Entitlement (COEs) in Category A recently hit a seven-year low of $36,001 during the first round of bidding in September 2017.  With COE prices expected to decline further in the
months ahead, buying a brand new car may not be that out of reach as compared to a couple of years ago. For sure, the days of COE prices being below $10,000 are long gone, but that doesn't mean that you can't drive away with a new car even on a budget.

You just need to put in a bit of considered thought, plan your finances a bit carefully, and be somewhat less fussy with your choices. In this story, we suss out five cheapest new cars you can currently buy in Singapore, and they cover a decent selection of practical, well-equipped and even stylish models.
As these cars have Open Market Values (OMVs) that are less than $20,000, you only need to fork out a downpayment of 30 percent of the selling price, which is around $20,000 or so, in order to drive them home.

Before you head down to the showrooms though, do check out sgCarMart's comprehensive car reviews to help you make a more informed choice, and avoid making a mistake with your purchase with the help of our friendly car-buying advice.

All prices are inclusive of COE and are accurate as of 19th September 2017. All instalments are calculated with a presumptive interest rate of 2.78 percent per annum on the car loan.

Perodua axia
Perodua Axia Vital stats
Price $63,800
Downpayment (30 percent) $19,140
Monthly instalment (over seven years) $635
Annual depreciation (estimated) $5,880
Fuel consumption 21.6km/L
Road tax $392
1. PERODUA AXIA - $63,800

The absolute cheapest new car you can buy in Singapore right now, the Perodua Axia, is a Malaysian-built hatchback that offers affordable, fuss-free motoring. It is so affordable that you can drive one home by paying less than $20,000 in cash downpayment.

In return, you get a compact, easy-to-drive hatchback that is economical and easy to maintain. The associated costs like fuel and road tax should be minimal (see table) thanks to the Axia's frugal 1.0-litre engine, and servicing and spare parts should be easily available from across the Causeway given the Axia's origins.
But that doesn't mean you lose out on the good stuff. The Axia packs in quite a reasonable amount of equipment, including Bluetooth connectivity, reverse sensors and electric folding mirrors. There's plenty of interior space to accommodate five adults too, so you don't have to worry about your family having to travel in discomfort in this budget runabout.

Based on consumer reviews, the Perodua Axia has an average consumer rating of 4/5 stars.
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Perodua bezza
Perodua Bezza Vital stats
Price $66,800
Downpayment (30 percent) $20,040
Monthly instalment (over seven years) $665
Annual depreciation (estimated) $6,080
Fuel consumption 21.0km/L
Road tax $584
2. PERODUA BEZZA - $66,800

If you fancy something a bit more traditional, Perodua has something else for you as well. The Bezza is the first ever sedan from the company, and it is a mighty fine first effort from the Malaysian carmaker. For just a smidgen over $20,000, you can drive away with this practical and frugal little sedan.

Like the Axia, the Bezza is easy to drive and cheap to maintain. The key figures aren't that far off from its hatchback sibling, with similar rates of depreciation and fuel consumption. The only thing is you pay about $200 more in road tax annually over the Axia, thanks to the Bezza's bigger 1.3-litre engine.

In exchange, the Bezza offers a practical and spacious solution to budget motoring. There is plenty of interior and boot space to pack your family and stuff for holidays up North. And you get modern amenities like keyless entry and engine push start button, as well as all-round parking sensors, on a car that costs only around $6,000 a year in depreciation.

Based on consumer reviews, the Perodua Bezza has an average consumer rating of 3/5 stars

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Mitsubishi Attrage
Mitsubishi Attrage Vital stats
Price $71,999
Downpayment (30 percent) $21,600
Monthly instalment (over seven years) $717
Annual depreciation (estimated) $7,000*
Fuel consumption 20.4km/L
Road tax $506
*$10,000 CEVS rebate
3. MITSUBISHI ATTRAGE - $71,999

Hugely popular among private-hire car drivers, the Mitsubishi Attrage is probably the most common 'affordable' car you can see on our roads today. You may have even sat in one at some point if you are a regular user of ride-hailing services like Uber and Grab.

The Attrage's popularity lies mainly in its affordability, low running costs, and renowned Japanese reliability. For just under $22,000 in cash downpayment, you get to own a car that packs in features such as keyless entry, climate control and six airbags, despite its budget price tag.

The Attrage even enjoys a $10,000 rebate under the Carbon Emissions-based Vehicle Scheme (CEVS) if you buy one before January 2017, so you can be sure that the car you're getting is green and frugal. Like the other cars here, the Attrage is easy to drive and manoeuvre in city streets, and offers a generally fuss-free driving experience overall.

Based on consumer reviews, the Mitsubishi Attrage has an average consumer rating of 3.5/5 stars.
rating3.5star
Mitsubishi Space Star
Mitsubishi Space Star Vital stats
Price $71,999
Downpayment (30 percent) $21,600
Monthly instalment (over seven years) $717
Annual depreciation (estimated) $6,900*
Fuel consumption 23.3km/L
Road tax $506
*$15,000 CEVS rebate
4. MITSUBISHI SPACE STAR - $71,999

The Space Star is very much like the Attrage, except in hatchback form. As such, they share many things in common, like the engine and drivetrain. They even cost the same, so the associated costs of buying and owning a Space Star is virtually identical to its Attrage sibling.

Choosing between the two is down to a matter of preference really, whether you're a sedan person or a hatchback fan. The Space Star does have the benefit of being slightly less common on our roads as compared to the Attrage, so it could be one to consider if you don't want to be mistaken for an Uber driver.
Surprisingly, though, the Space Star gets an even bigger CEVS rebate of $15,000 as compared to just $10,000 for the Attrage, so it suffers from slightly less depreciation annually. It is also a tad more fuel efficient, and a bit more feature-packed, offering the same equipment as the Attrage and adding in a few more extras as standard like automatic headlamps and automatic wipers. So if you're looking for a value-packed proposition, the Space Star is the one to go for.

Based on consumer reviews, the Mitsubishi Space Star has an average consumer rating of 3.5/5 stars.
rating3.5star
Chery J3 S-Coupe
Chery J3 S-Coupe Vital stats
Price $75,999
Downpayment (30 percent) $22,800
Monthly instalment (over seven years) $757
Annual depreciation (estimated) $7,250
Fuel consumption 16.1km/L
Road tax $742
5. CHERY J3 S-COUPE - $75,999

If you thought that Chinese cars have gone extinct in Singapore, think again. There's still one Chinese brand that's been soldiering on, and you can actually buy a brand new Chinese-made car over here, if you so fancy.

Chery currently has four models available for sale, and the cheapest of which is the J3 S-Coupe (formerly known as the A3). While technically not a coupe, but rather a five-door hatchback, the J3 S-Coupe's sleek looks are at least eye-catching enough to fool the eye and turn heads on the roads.

For your money, which is slightly under $23,000 as cash downpayment to drive away, you get a stylish-looking car that should fit the bill for the unfussy buyer. But the Chery is slightly more expensive than the rest to own and maintain, and Chinese cars are a relatively unknown quantity in terms of reliability, so unless you really want something that looks sporty, you'll probably be better off considering the other cars on this list.
Based on consumer reviews, the Chery J3 S-Coupe has an average consumer rating of 4/5 stars.
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If any of these cars take your fancy, or you're looking to stretch your budget a bit more, you can head over to sgCarMart's New Car listings for all the latest updates on new car prices, and find out what other models are within your reach. And if you need help with sourcing for insurance, do check out our handy insurance quotation service on sgCarMart
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