Everyone knows how pretty much expensive it is to own your vehicle in Singapore. Just when you think you’ve done your best by paying a premium for your car, the costs of maintenance and using your vehicle aren’t done with your wallet just yet. Thus there are several things to consider when calculating the total cost of owning a vehicle in Singapore. Some of the areas people often overlook are parking road taxes, insurance premiums, and paying fees.
What is road tax renewal?
Road tax renewal is an intricate part of car dealings in Singapore. Thus it is required for every registered vehicle in Singapore. Hence, it does not matter if you sell or buy cars; ensure that a road tax is paid down before going through with the transaction.
How much road tax to pay?
The monetary value of road taxes you would pay is determined by your vehicle’s engine power and age. The higher the engine power and the older the vehicle, the more road tax you will have to pay. You can determine the amount of road tax to pay using your Car plate number or you’re the engine age and capacity.
Prerequisite for renewal road tax
You have to meet the following criteria for your renewal road tax without hassles:
Car insurance coverage
Every vehicle in Singapore is mandated to have motor insurance. For the period that you will be paying your road tax, be sure to have your vehicle covered. Typically the insurance coverage should accommodate third-party liability for bodily injury and deaths.
Vehicle inspection
Each car is also required to undergo regular car inspections to ensure that it is roadworthy. Approximately ninety days before the expiration of your road tax, you will begin receiving an inspection notice.
Clear Outstanding fines
If you have any outstanding warrants or fines from the Traffic Police (TP), URA, HDB, or the Land Transport Authority (LTA), you may be unable to renew your road tax. Before renewing your road tax, ensure you have cleared any outstanding fines.
For Revised Off-Peak Cars / Weekend Cars / Off-Peak Cars
Before renewing your road taxes, these vehicles will be subject to a motor plate number seal inspection. To have your vehicle inspected, go to any Land Transport Authority inspection Centre.
When to Renew Your Road Tax
Typically, you have two options to choose from when you need to have road taxes renewed. You can renew your vehicle’s road tax every six months or every 12 months. If you choose the six months plan, you will have to do so every half-year. However, if you choose to renew every 12 months, you will renew annually (which is the same thing). However, there is no need to be too concerned because you can choose either option at any time.
The LTA (Land Transport Authority) will send you a reminder one month before your road tax expires to give you enough time to complete the renewal requirements.
How to have your road taxes renewed
In Singapore, there are four primary ways to renew your road tax; keep in mind that some services have their times of availability;
Renew online at One Motoring
By visiting One Motoring, you can renew your road tax. Make sure you have enough money in your bank account with a high enough transaction limit, as well as a credit/debit card or an internet banking account.
AXS Services
By visiting any AXS station, you can renew your road tax there. Keep in mind that all AXS stations do not have the same payment method, so check their website before going there.
SAM Services
Road tax renewals are supported by SAM Web & App and SAM Kiosks. SAM primarily accepts NETS payments, so if you use NETS, this will be a piece of cake for you. Although, you should check for their latest payment methods on their website before you visit their center.
GIRO
If you choose to renew through GIRO, please keep in mind to do so at least a month before your road tax renewal expires to avoid late fees. The GIRO payment process should take about a month to go through, and the Land Transport Authority will inform you when your bank approves it. If you choose to renew GIRO, they have to be your option for all your future road tax renewals. This means that the LTA’s GIRO payment schedule must be followed.