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I live in Singapore and this is already happening here. In Singapore to own a car you've to get a certificate of ownership that can cost around $70-$100k and yo
by sonotwhat 10y ago
I live in Singapore and this is already happening here. In Singapore to own a car you've to get a certificate of ownership that can cost around $70-$100k and you've to bid for this. Ever since Uber began to get popular here we've had rental companies (who only rent if you become an Uber driver, essentially partners of Uber) try to undermine the bidding system by artificially boosting prices.
It has never been easy (or cheap) to privately own a car in Singapore but the situation right now is exactly like you mentioned in your comment.
However I'm also a resident of the US and I don't think it's gonna happen over there anytime soon.
- tannhauser23 10y agoThat's a weird market where the government artificially inflates the cost of car ownership. Like you say, that's never going to happen in the U.S.
- avar 10y agoSingapore is doing it because the alternative would be to use much more of their tiny island for car-related infrastructure. The total cost of that infrastructure would be much higher than what the sum of the COE's[1] would cost. Are you sure Singapore is artificially inflating the cost, or that where you live isn't artificially subsidizing the cost of car ownership? 1. https://en.wikipedia.org/wiki/Certificate_of_Entitlement#History https://en.wikipedia.org/wiki/Certificate_of_Entitlement#His...