5 countries where owning a car costs a fortune

For many, owning a car is a basic necessity, something you save up for, buy, and maintain with relative ease. But in some countries, the cost of car ownership is so high that it is more of a luxury than a convenience. From government-imposed taxes to soaring fuel prices, owning a car in these places requires deep pockets.

Here are five countries where owning a car is an expensive privilege:

Singapore
In Singapore, buying a car is not just about paying for the vehicle itself, you also need a Certificate of Entitlement (COE), which is the right to own a vehicle that can be used on the road for 10 years.. Right now, a COE costs as high as $146,002. This system is meant to control traffic, but it also makes car ownership something only the wealthy can afford. While COE prices fell across most categories on February 5, 2025, the biggest drop of 9.2% was seen in the category for smaller cars. However, overall prices remain high, keeping car ownership out of reach for many.

Denmark
Buying a car in Denmark comes with a 150% registration tax, meaning you pay more than double the car’s value just in taxes. Add expensive fuel and maintenance, and the annual cost of keeping a car can exceed $7,500. No wonder cycling and public transport are the preferred options.

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Norway
Despite being an oil-rich country, Norway discourages petrol and diesel cars with high taxes and one of the world’s most expensive toll fees. The annual cost of car ownership is around $6,000, pushing many Norwegians to switch to electric vehicles, which come with tax breaks and incentives.

Ireland
Owning a car in Ireland is not just about buying the vehicle, you also have to deal with insurance that can cost over $1,000 per year, fuel expenses exceeding $2,300 annually, and registration fees. With public transport widely available, many choose to avoid the hassle and ,expense.

Canada
Canadians love their cars, but keeping one is not cheap. Insurance rates are high (averaging $1,300 per year), and fuel expenses add another $2,000+ annually. While a car is essential in many parts of the country, rising costs are making car-sharing and public transport more appealing.