Correct me if I am wrong. Currently, we only pay daily rental to taxi
company and all other
costs including maintenance cost, insurance and road tax are taken
care by the taxi company.
We pay daily rental of $100. Works out to $3000 per month.
Everything covered except accident. In an accident, taxi driver is
guilty unless proven innocent. Maintenance cost questionable. If
car breakdown and your radiator low water, you have to pay for
replacement of whole engine. Many more examples I believe bros here
can contribute.
Owning a car costs around $1800 per month. There is a good
breakdown of the costs involved here.
http://www.moneysmart.sg/frugal-living/ride-or-drive-the-cost-of-car-ownership-vs-public-transport-in-singapore/
You sell the car, you get back something.