A Lancer MR is a used-market car in Singapore today. The new-car list has no entry for it. So the question is less what it costs to buy and more what it costs to keep. Road tax and car insurance are the two yearly bills this guide can put figures on.
The insurance figures are examples for one stated driver, read on 20 October 2026. Read them as a guide to how the market prices the car.
The Lancer MR we price
Our quote form prices the Lancer MR 1.6, with a 1,584cc engine. It is the version most insurers quote. With no new-car list entry, there is no list price, power figure or body type to give here.
COE: it depends on power
For the Lancer MR 1.6, with its 1,584cc engine:
- Category A applies if its power is 97kW (130bhp) or less. It closed at S$130,001 in the October 2026 1st round.
- Category B applies if its power is more. It closed at S$130,100 in the same round.
If you buy a used car, the COE it carries stays with it. Check its expiry before you agree a price. The COE page has the latest results.
Road tax
For a 1,584cc engine, LTA's formula gives S$733.52 a year, before any surcharge. That was checked on 2026-10-19.
Once the car is more than 10 years old, a surcharge applies:
- Over 10 years: +10%
- Over 11 years: +20%
- Over 12 years: +30%
- Over 13 years: +40%
- Over 14 years: +50%
The road tax page covers every engine size.
Here's what insurance costs
The Mitsubishi Lancer MR price page uses one profile:
- Car: Lancer MR 1.6, registered 3 years ago, private use, comprehensive cover
- Driver: aged 40, married, office job, 10 to 19 years of driving
- Record: 50% no-claim discount (NCD), no claims
- Repairs: authorised workshop, no add-ons
14 insurers price this profile, across 22 plans. The lowest premium is S$721.59. That plan allows any workshop or an authorised one. The insurer whose lowest plan is dearest asks at least S$2,672.67, which is S$1,951.08, or 270%, more. All prices include 9% GST.
Two insurers on the panel have no online price for the Lancer MR. So nearly every insurer we compare can give you a figure, which makes a side-by-side check easy to do.
The excess on each plan
The most common excess is S$600, on ten of the 22 plans. Three plans carry S$500, two S$750 and three S$800. Two carry S$2,500 and one S$3,000. The dearest plan is the only one with no excess.
Four plans are estimates. Their final price can change once the insurer has your details.
When one thing changes
The price page reruns the lowest price with a single change:
- No NCD (0%): S$984.55, S$262.96 more
- 20% NCD: S$984.55, S$262.96 more
- Aged 27, 3 years of driving, 30% NCD: S$984.55, S$262.96 more
- Aged 65, 20 or more years of driving: S$721.59, the same
- A new car, registered this year: S$742.90, S$21.31 more
- A car 8 years old: S$660.69, S$60.90 less
Without an NCD, the lowest price is 36% higher. That is the change that costs most. A young driver with a 30% NCD meets the same figure.
The older driver pays the same as the standard driver, with one fewer insurer quoting. A car 8 years old is cheaper to insure at the lowest price. If you are buying used, that line may matter most to you.
Six cars to compare with
The price page sets the Lancer MR beside six cars with similar engines, same driver and car age:
- 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 lowest price is S$724.93, and the Lancer MR costs about the same. Three of the six cost less to insure. The Kona is level with it. The Mazda 3 and the BMW X1 cost more. Other Mitsubishi cars are on the Mitsubishi car insurance page.
Pros and cons on insurance cost
- For: most of the panel prices it, 14 insurers in all
- For: an older car costs less to insure at the lowest price
- Against: losing your NCD adds a large sum
- Against: the plans run from S$721.59 to S$2,672.67, so a quick choice can cost you
The rest of the bills
Some costs depend on how and where you use the car:
- Parking: HDB or condo season parking, plus office and town parking
- Petrol: your distance and the pump price
- ERP: your daily routes and times
- Servicing: the maker's schedule, plus tyres, brakes and battery over time
- Depreciation: the price you pay set against the COE years left
What to check before buying
- COE expiry date: the years left decide how long you can keep the car without renewing
- Registration date: this sets the road tax surcharge band
- Service history: ask what has been replaced
- Insurance quote: price it with your own details first
Summary of yearly costs we can show
For the Mitsubishi Lancer MR 1.6, dated as shown:
- Road tax: S$733.52 a year before any age surcharge (checked 2026-10-19)
- Insurance, standard driver: from S$721.59 a year (20 October 2026)
- Insurance, no NCD: from S$984.55
- Insurance, a car 8 years old: from S$660.69
Before you buy: car insurance for the Mitsubishi Lancer MR
Before you drive off, get your car insurance through Shenton Brokers. Compare car insurance for the Mitsubishi Lancer MR 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.