Singapore to Start Limiting Private Car Ownership
Right now, the government allows just a .25% increase in car ownership per year. Its new initiative that begins in February will allow a 0% increase.
That means bad news for prospective car buyers. Currently, every car owner is required to pay approximately $37,000 for a certificate before they are legally allowed to drive their vehicle. The certificate lasts for ten years.
Under the new policy, no new certificates will be granted. So, any driver who wants to purchase a car must wait for another driver to give up their certificate before they enjoy using their new ride.
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The new ban will exclude trucks and buses. Also, the permanency of the ban has yet to be determined. In 2020, the government is set to revisit the new policy and assess the outcomes it has achieved up to date.
In the meantime, prospective car buyers in Singapore should make their purchase now before the new legislation goes into effect.
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News Source: CNNMoney
Austin Blankenbeckler is the General Manager of Carlisle Chevrolet Buick GMC Cadillac and the third person in his family, after his father and grandfather, to work at the Waxahachie Chevy dealership. Carlisle Chevrolet Buick GMC Cadillac has been selling quality cars to the Ennis, Midlothian, and Waxahachie area since 1926 and their commitment to quality and customer service is more than just a business approach, it’s the family way. Stop by the Waxahachie GM dealership today to see what a difference three generations of car and truck selling can make. Austin on Google +