Is buying a car in Singapore with COE so high even worth it?

I'll be blunt, for most people it's not worth it purely on money, and the high COE just makes the emotional purchase more expensive. But money isn't everything. I bought mine knowing it's a splurge, because my elderly parents need frequent ferrying to hospitals and the flexibility matters to my family's wellbeing. That intangible is worth the cost to me. So the honest answer, it's worth it if the convenience solves a real recurring pain in your life, kids, elderly, odd hours, out-of-the-way home. It's not worth it if you just want the status or occasional weekend use, in which case car-sharing and Grab win easily. Decide based on your actual usage, not the fantasy.

Family of four, we own a car and for us it's worth every painful cent, but I won't pretend it's rational financially. With COE where it is, the true cost per month once you factor depreciation, insurance, road tax, parking, ERP and petrol is easily 2k plus. Pure economics, Grab and public transport is far cheaper. What you're actually paying for is convenience and time, especially with young kids, car seats, groceries, sudden clinic runs at 2am. That flexibility is priceless to us. If you're a couple with no kids and live near an MRT, honestly a car makes little financial sense here. It's a lifestyle purchase, not an investment, be honest with yourself about that.

Gave up my car two years ago and never looked back. Did the maths and I was burning close to 25k a year all-in for a car I used maybe an hour a day. Switched to public transport plus Grab for the odd trip and I'm saving a fortune, which I now invest. Singapore is one of the few places where you genuinely don't need a car, the MRT and bus network is excellent, and Grab covers the gaps. The only time I miss it is weekend trips to JB or when it pours. But for that occasional need, renting or GetGo car-sharing is way cheaper than owning. Unless you have young kids or elderly to ferry, I'd say skip it.