As most of us should already know by now,
owning a car in Singapore goes beyond just the purchase price of the car. Even if we assume that the Model 3 doesn’t break down over the next 10 years and requires minimal maintenance, we still need to consider road tax, fuel, parking & ERP.
Road Tax: As stated by Tesla, the road tax for the Model 3 will be $2,926. This is much more expensive compared to other vehicles on the road. In contrast, the Audi A4 has a road tax of $1,194 a year, which is more than 50% lower. Do note however that this will increase in 2023 once the additional road tax cost for EV is included.
While the first year is inclusive in the cost of the car, over the next 9 years, this will add up to a further $26,334.