The Optra Magnum is a 1.6-litre Chevrolet that you will find only as a used car now. This page answers one question: what does it cost each year? It covers the COE, road tax and car insurance, with dated figures.
Each insurance price is an example for one stated driver, read on 20 October 2026. It is not a quote, and your own premium depends on your details.
The car priced
The new-car list has no entry for this model on sale now. There is no list price, power or body type to give.
Our quote form prices the Chevrolet Optra Magnum 1.6, with a 1,598cc engine. It is the version most of our insurers quote.
The COE
With a 1,598cc engine, the Optra Magnum 1.6 needs a Category A COE if its power is 97kW (130bhp) or less. It needs a Category B COE if its power is more.
Category A closed at S$130,001 and Category B at S$130,100 in the October 2026 1st round. Both change every round, and the COE page has the latest.
On a car of this age, the COE in place is the one that counts. Check its expiry date before anything else.
Road tax
For the 1,598cc engine, LTA's formula gives S$741.72 a year. That was checked on 2026-10-19 and is before any age surcharge.
Older cars pay a surcharge on top:
- Over 10 years: +10%
- Over 11 years: +20%
- Over 12 years: +30%
- Over 13 years: +40%
- Over 14 years: +50%
The road tax page has sums for other engines.
Car insurance
The details priced
The Chevrolet Optra Magnum price page prices:
- Car: Optra Magnum 1.6, registered 3 years ago, private use, comprehensive cover
- Driver: aged 40, married, office job, driving 10 to 19 years
- Record: 50% no-claim discount (NCD), no claims
- Repairs: authorised workshop, no options
The spread
13 insurers price it for that driver. The lowest premium is S$642.42 a year. The insurer whose lowest plan is dearest asks at least S$1,096.41. That is S$453.99 more, or 71% on top. All prices include 9% GST.
Three insurers on our panel have no online price for this model.
Excess
Most plans set a S$600 excess. Three set S$500, two S$750 and three S$800. One plan sets S$2,500. Every plan here has some excess.
That spread is narrower than on many cars, which makes plans easier to compare on premium. Still, check the one you pick.
What moves the price
The price page shows the lowest price with one change:
- No NCD (0%): S$961.77, S$319.35 more
- 20% NCD: S$961.77, S$319.35 more
- Driver aged 27, 3 years' driving, 30% NCD: S$961.77, S$319.35 more
- Driver aged 65, 20 or more years' driving: S$642.42, the same
- A new car, registered this year: S$660.69, S$18.27 more
- A car 8 years old: S$586.41, S$56.01 less
The NCD is the lever that counts. Without it, the lowest price is 50% higher. A 20% NCD or a younger driver lands on the same figure.
The older driver pays the same. An 8-year-old car is a little cheaper to insure. Most Optra Magnums for sale will be older than that.
These are lowest prices. Other plans may move by different amounts.
The NCD lines also show what a single claim can cost over time. A claim can cut your NCD, and the higher premium then follows you for several years until the discount is rebuilt. Some plans let you protect the NCD for an extra charge.
Reading a quote
A few terms separate one plan from another:
- Workshop: these prices assume an authorised workshop. Some plans let you use any workshop, at a different price.
- Named drivers: a younger driver on the policy can raise the premium.
- NCD protection: an optional extra on some plans.
- Excess: your share of each claim.
Against similar cars
For the same driver and car age, the price page lists six similar cars:
- Toyota Corolla Altis: S$642.42
- Mazda 3: S$927.36
- Toyota Sienta: S$604.07
- BMW X1: S$811.71
- Honda Freed: S$642.42
- Hyundai Kona: S$721.59
Their average is S$724.93. The Optra Magnum is 11% below that. One of them, the Toyota Sienta, is cheaper to insure.
Other Chevrolets are on the Chevrolet car insurance page. The cheapest cars to insure page ranks models across makes.
Checks for a used buyer
Before you agree a price, confirm:
- COE expiry: the years of use left.
- Road tax: when it falls due and whether a surcharge applies.
- Your own quote: for this car and your details, not the example driver.
Costs that depend on you
These have no single figure:
- Parking: HDB or condo season parking, plus elsewhere.
- Petrol: your distance and the pump price.
- ERP: your routes and hours.
- Parts and servicing: for an older car, ask about parts and who services it. Tyres, brakes and a battery come due.
- Depreciation: mostly the COE years left.
Summary
For the Chevrolet Optra Magnum 1.6 (1,598cc), dated as shown:
- Road tax: S$741.72 a year before any age surcharge (LTA's formula, checked 2026-10-19)
- Insurance, standard driver: from S$642.42 a year (20 October 2026)
- Insurance, no NCD: from S$961.77
- Insurance, a car 8 years old: from S$586.41
A fresh COE in the October 2026 1st round was S$130,001 (Category A) or S$130,100 (Category B).
Before you buy: car insurance for the Chevrolet Optra Magnum
Before you drive off, get your car insurance through Shenton Brokers. Compare car insurance for the Chevrolet Optra Magnum to see today's prices from every insurer we compare and how they change with the driver and the car's age. Or get a quote with your own details.