Tesla Model Y RWD vs Toyota Alphard Hybrid 2.5 Elegance: 5-year cost to own (Singapore)
Over 5 years in Singapore (17,500 km/yr), as of July 1, 2026, the Tesla Model Y RWD is cheaper — about S$158,269 over 5 years vs S$223,960 for the Toyota Alphard Hybrid 2.5 Elegance, a S$65,691 difference. In Singapore the EV usually wins on running cost (cheap electricity vs S$3.42/L petrol) while COE dominates both cars — we say so plainly.
COE is set by a biweekly auction and swings thousands of dollars — every figure here uses the S$124,790 (Cat A) / S$126,236 (Cat B) COE assumption. Confirm the current COE before you commit; it is the single biggest line in the price. Source: LTA registration-cost sheet, 2026-07-01.
EV Early Adoption Incentive: the EEAI (45% off ARF, capped S$7,500) is baked into the EV figures for 2026 registrations — and it sunsets 31 Dec 2026. Register a BEV from 2027 and it costs more. Source: LTA.
Cheaper to own over 5 years · SingaporeTesla Model Y RWD · S$158,269 total · S$65,691 less than the Toyota Alphard Hybrid 2.5 Elegance
Tesla Model Y RWD vs Toyota Alphard Hybrid 2.5 Elegance — where the money goes
| Cost component | Electric · Tesla Model Y RWD | Hybrid · Toyota Alphard Hybrid 2.5 |
|---|---|---|
| Depreciation (estimated) | S$116,000 (73%) | S$147,500 (66%) |
| Charging / fuel | S$5,038 (3%) | S$17,357 (8%) |
| ↳ of which charging loss | 10% (~S$504) | — |
| Maintenance | S$3,500 (2%) | S$4,813 (2%) |
| Insurance | S$10,000 (6%) | S$8,500 (4%) |
| Financing interest | S$15,929 (10%) | S$36,874 (16%) |
| Registration & fees | S$7,801 (5%) | S$8,917 (4%) |
| Total cost of ownership | S$158,269 | S$223,960 |
Electricity vs petrol — and why COE still rules
On running cost the Tesla Model Y RWD is far cheaper — about S$5,038 of electricity over 5 years vs S$17,357 of petrol for the Toyota Alphard Hybrid 2.5 Elegance (S$3.42/L is dear). But COE + ARF dominate both cars — around S$152,887 on the EV and S$257,139 on the petrol car — so the 5-year winner is decided mostly by price with COE and how much you recover at de-registration.
Where the money really goes — COE + ARF dwarf the fuel
The registered price with COE for the Tesla Model Y RWD is S$201,888. COE + ARF alone are S$152,887 of that — many multiples of the electricity or petrol you'll ever buy. That is the honest story of Singapore car cost.
- COE (quota licence)
- S$124,790biweekly auction · dominates the price
- ARF (net of VES / EEAI)
- S$28,097gross S$58,097 − VES rebate S$22,500 − EEAI S$7,500
- OMV (open-market value)
- S$45,314declared import value
- Excise (20%) + GST (9%)
- S$13,957on OMV
- Registration fee
- S$350LTA flat
- Dealer / direct-sales adj.
- S$-10,619sold below current-COE cost
- Registered price (with COE)
- S$201,888what you pay to put it on the road
- Recovered at de-registration (yr 5)
- S$85,888unused COE S$62,395 + PARF S$8,429 + residual value S$15,064
How depreciation works here: it is the registered "price with COE" minus what you get back at de-registration — the unused COE (rebatable over the 10-year licence), the PARF rebate (a capped % of ARF paid), and the car's remaining market value. Where a published Singapore depreciation figure exists (PaperValue / sgCarMart), we use it — the straight-line S$/yr buyers actually quote. That is why the S$100k+ upfront, not electricity or petrol, dominates the 5-year total. What you'd get back at deregistration (official PARF + COE rebate) →
Tesla Model Y RWD vs Toyota Alphard Hybrid 2.5 Elegance, side by side
Tesla Model Y RWD
- 5-yr total cost
- S$158,269
- Cost / month
- S$2,638
- Cost / km
- S$1.81
- Price with COE
- S$201,888
- Powertrain
- Electric
- Efficiency
- 14.9 kWh/100km
Toyota Alphard Hybrid 2.5 Elegance
- 5-yr total cost
- S$223,960
- Cost / month
- S$3,733
- Cost / km
- S$2.56
- Price with COE
- S$427,888
- Powertrain
- Hybrid
- Efficiency
- 5.8 L/100km
- Singapore electricity
- 34.78c/kWh SP Group
- Singapore petrol (95)
- S$3.42/litre motorist.sg
- COE assumption (Cat A / B)
- S$124,790 / S$126,236 LTA