The Lexus LM is a luxury people carrier, often bought to carry passengers rather than to drive yourself. Whoever sits where, the owner still pays for a COE, road tax and insurance. This guide sets out those costs for Singapore.
The insurance prices are examples for one stated driver, as of 1 November 2026. They are a guide to the market, not a quote for you.
Two versions on the new-car list
The new-car list read on 2026-10-10 shows the LM as an MPV, made in Japan. Both versions are petrol-electric hybrids:
- LM Hybrid 2.5 Luxury 350h: 2,487cc, 244bhp
- LM Hybrid 2.4 Ultra Luxury 500h: 2,393cc, 366bhp
The quote form on the price page lists the same two versions. The insurance prices below are for the 2.5 Luxury 350h, the version most insurers quote.
List prices
As listed on 2026-10-10, with COE included that day:
- 2.5 Luxury 350h: S$723,800
- 2.4 Ultra Luxury 500h: S$870,800
The Ultra Luxury costs clearly more on the list. Prices move after COE rounds, so ask for a current figure. When you compare offers, check what each one includes.
Which COE it needs
The price page puts the LM 2.5 Luxury 350h in Category B, since its 2,487cc engine is above 1,600cc. In the October 2026 2nd round, Category B closed at S$131,901. The COE page has the newest results.
Road tax each year
For the 2,487cc engine, LTA's formula gives S$1,783.36 a year, before any surcharge for age. The 2.4 version has a smaller engine, so its road tax differs. The road tax page works that out.
When a car is more than 10 years old, a surcharge is added:
- Over 10 years: +10%
- Over 11 years: +20%
- Over 12 years: +30%
- Over 13 years: +40%
- Over 14 years: +50%
Insurance for the standard driver
The Lexus LM price page prices this case:
- Car: LM 2.5 Luxury 350h, registered 3 years ago, private use, comprehensive cover
- Driver: aged 40, married, office job, driving 10 years
- Record: 50% no-claim discount (NCD), no claims
- Repairs: authorised workshop, no options
4 insurers price it online, across five plans. The lowest premium is S$1,243.33 a year. The insurer whose lowest plan costs most asks at least S$2,027.52, which is marked as an estimate. That is S$784.19 more, or 63% on top. All prices include 9% GST.
The three lowest plans sit close together, between S$1,243.33 and S$1,310.08. So small differences in cover can matter more than the price.
Excess on these plans
Excesses run from S$0 to S$600. Most plans carry S$500 or S$600. The plan with no excess is the one with the highest premium. Weigh what you pay each year against what you would pay on a claim.
One more insurer does not list the LM on its online quote, so the field is smaller than for common cars.
What shifts the premium
The price page gives the lowest price when one detail changes:
- No NCD (0%): S$2,552.83, which is S$1,309.50 more
- 20% NCD: S$2,043.52, S$800.19 more
- Driver aged 27, 3 years' driving, 30% NCD: S$2,670.66, S$1,427.33 more, with 3 insurers pricing
- Driver aged 65, 20 years' driving, 50% NCD: S$1,369.45, S$126.12 more
- New car, registered this year: S$1,248.72, S$5.39 more
- Car 8 years old: S$1,242.97, S$0.36 less, with 3 insurers pricing
The young driver case costs most, at 115% above the standard price. Having no NCD more than doubles it as well. The car's age barely moves the lowest price. If a younger family member will drive, it is worth asking for a quote with them named.
Against similar cars
For the same driver and car age, the price page lists six similar cars:
- Alfa Romeo 159: S$1,028.09
- Toyota Camry: S$872.39
- Toyota Alphard: S$832.53
- Mitsubishi Outlander: S$783.81
- Toyota Vellfire: S$763.00
- Honda Odyssey: S$763.00
Their average lowest price is S$840.47. The LM costs 48% more than that, and all 6 are cheaper to insure. These rivals are priced by 12 to 16 insurers each, far more than the LM. A wider field often pulls the lowest price down.
The Lexus car insurance page lists the brand's other models.
Costs that depend on use
- Parking: season parking at home and charges at work or in town. A large MPV may not suit every space.
- Petrol: depends on distance and pump prices. Both versions pair the engine with a hybrid system.
- ERP: set by your routes and times.
- Servicing: hybrid parts, tyres and brakes need care. Ask what the warranty covers.
- Depreciation: on a car listed at this level, the drop in value over the COE life can be large.
Summary of yearly costs we can show
For the Lexus LM 2.5 Luxury 350h:
- Road tax: S$1,783.36 a year before any age surcharge (LTA's formula, checked 19 October 2026)
- Insurance, standard driver: from S$1,243.33 a year (1 November 2026)
- Insurance, no NCD: from S$2,552.83
- Insurance, a car 8 years old: from S$1,242.97
One-off costs for reference: list prices from S$723,800 as listed on 2026-10-10. Category B closed at S$131,901 in the October 2026 2nd round.
Before you buy: car insurance for the Lexus LM
Before you drive off, get your car insurance through Shenton Brokers. Compare car insurance for the Lexus LM 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.