So you are considering buying a new EV?
Maybe your WhatsApp group whispering about rebates.
Or you keep seeing the EV BYD Atto 3 everywhere, making you itchy to own one.
But you are also thinking, wait good or not? Will COE drop anot? If I don't buy know, will the VES, EEAI affect anot?
Do not worry.
This is just the first part of my series for anyone who want to buy EV in Singapore and not get played by all the confusing numbers.
What You Must Pay, No Surprise
Let's say a BYD ATTO 3. Which one probably one of the most popular EV Car in Singapore. They say is top Sales for EV car lah.
I will believe also. It's everywhere almost.
- Car price is $178,888
- 40% Downpayment is $71,555. This one must prepare cash and no CPF, cannot run one.
- Loan is $107,333. You borrow from bank.
- Interest rate is 2.48 percent, seven years loan. Monthly bill is $1,500
- After all, your total commitment for seven years will be $197,521
- Road tax is about $1,500 a year extra plus insurance, parking, maintenance and charging
- Insurance can range from $1000 to $1500+ Depending on your comfort for excess.
Why The Whole Singapore So Kiasu Rush to Buy
Right now got solid rebates. VES gives $25,000 and EEAI gives $15,000. All add together, the discount is $40,000. Next year, only $32,500, after that in 2027 only $25,000.
This is why showroom got queue like new bak kwa during CNY.
But if everyone rush, COE price go up. So you need to be steady and not just follow hype.
So in October, those people that bought EV cars at $128k, to siam get the VES and EEAI deal of $40,000. This one really sad. COE probably increase close to $28,000 that period. And just to save the $7,500 rebates you will miss if you buy in 2026.
Straight Table for CAT A EV SUVs
| Model | Car Price | Downpayment | Monthly | Real Range |
|---|---|---|---|---|
| BYD Atto 3 | $178,888 | $71,555 | $1,500 | ~350km |
| Aion V Electric | $172,988 | $69,195 | $1,493 | ~400km |
| Jaecoo 6 Electric | $159,999 | $64,000 | $1,381 | ~350km |
| MGS5 EV Luxury | $183,888 | $73,555 | $1,587 | ~400km |
| Hyundai Kona EV | $195,888 | $78,355 | $1,691 | ~320km |
Here is also some comparision of the Car price as of 13 Nov 2025. And how much you gonna fork out for the 40% downpayment.
This is crazy pricing!
Rebates Timeline Cheat Sheet
| Year | VES | EEAI | Total Rebate |
|---|---|---|---|
| 2025 | $25,000 | $15,000 | $40,000 |
| 2026 | $25,000 | $7,500 | $32,500 |
| 2027+ | $25,000 | $0 | $25,000 |
Not Sure? Stay Tuned
If you read till here but heart still thumping, not ready, it is okay lah.
This is just part one of my series about EV buying. Next post we go deeper into the real monthly cost.
Not just loan, but all the extra charges people never mention. Part three will cover the blind spots, complaints, battery, charging, and all the little things regular buyers discover only after driving for a year.
No rush. If you need to ask, just drop a comment or DM.
Buy smart, money last longer. Go slow, confirm you make the right decision for yourself and your family.
Watch for part two, will break down more real-world running and ownership tips just for normal families, not big boss or car dealer type.