A small engine keeps two of the Toyota Raize's yearly bills low. Road tax on the 1.0 is S$390.22 a year. Insurance for a settled driver starts at S$545.00. But the gap between insurers is wide, and the driver's record moves the price far more than the car's age.
This guide goes through each cost. The insurance figures are examples read on 20 October 2026 for one stated driver and car, not a quote.
The two Raize versions
The new-car list has no entry for the Raize on sale now. So this guide gives no list price, power or body type. The quote form lists two versions:
- Raize 1.0: 996cc
- Raize 1.2 Hybrid: 1,196cc
The insurance figures are for the 1.0, the version most insurers quote. The hybrid's road tax and premiums will differ.
Which COE
The price page states the rule for the Raize 1.0, with a 996cc engine. It needs a Category A COE if its power is 97kW (130bhp) or less. If its power is more, it needs a Category B COE.
In the October 2026 1st round, Category A closed at S$130,001 and Category B at S$130,100. Each round brings new figures, and the COE page has the latest.
Road tax
LTA's formula gives S$390.22 a year for the 996cc engine, before any age surcharge.
The surcharge starts when a car passes 10 years:
- 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 the figure for the 1.2 Hybrid's engine size.
Insuring a Raize
The Toyota Raize price page prices this driver and car:
- Car: Raize 1.0, 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 add-ons
For that driver, 14 insurers give a price, and two on our panel have no online price yet. The lowest premium is S$545.00. The insurer whose lowest plan is highest asks at least S$1,257.40. That is S$712.40 more, or 131% on top. All prices include 9% GST.
That is a wide spread for a small car. The highest lowest-plan is more than double the lowest premium. Getting several quotes is the simplest way to avoid paying the top of the range.
The excess on each plan
The excess is what you pay on a claim before the insurer pays. Twelve plans here carry S$600. A handful sit between S$500 and S$800. Three ask S$2,500 and one asks S$3,000. One plan has no excess. Compare the two figures together: the premium you pay every year, and the excess you pay when you claim.
What moves the price, and what does not
The price page shows the lowest price when one thing changes:
- No NCD (0%): S$989.59, S$444.59 more
- Driver aged 27, 3 years' driving, 30% NCD: S$924.97, S$379.97 more
- 20% NCD: S$826.61, S$281.61 more
- Driver aged 65, 20 or more years' driving: S$545.00, the same
- A new car, registered this year: S$545.00, the same
- A car 8 years old: S$545.00, the same
What moves it
The driver's record. With no NCD, the lowest price rises 82%. A young driver with 30% NCD pays almost as much. Even a 20% NCD leaves the price well above the standard driver's.
What does not
The car's age, at least at the lowest price. A new Raize, a 3-year-old one and an 8-year-old one all start at S$545.00. An older driver aged 65 also pays the same as the standard driver, with one fewer insurer quoting.
These are lowest prices only. Other plans may move by other amounts.
Against similar small cars
The price page compares six cars for the same driver and car age:
- Chery A1: S$774.43
- Daihatsu Copen: S$718.87
- Audi A1: S$660.69
- Audi Q2: S$660.69
- Citroen C3: S$604.07
- Chery QQ: S$545.00
Their average lowest price is S$660.63. The Raize is 18% below it. None of the six costs less to insure, and the Chery QQ matches it. The Chery A1 and Daihatsu Copen are priced by fewer insurers. More Toyota models are on the Toyota car insurance page.
Who it suits on cost
- A main driver with a full NCD: the S$545.00 floor, whatever the car's age.
- A buyer looking at older cars: the insurance floor does not rise with age, and road tax is low until the 10-year surcharge.
- A household adding a new driver: expect the floor to rise, so price that case before you commit.
Costs that depend on you
- Parking: season parking at your HDB block or condo, plus parking at work and on outings.
- Fuel: your mileage and the pump price. The hybrid version also uses an electric motor.
- ERP: your routes and the times you use them.
- Servicing: the maker's schedule, plus tyres, brakes and a battery over the years.
- Depreciation: what you pay against what the car fetches later, which depends on the COE years left.
Summary of yearly costs we can show
For the Raize 1.0 (996cc):
- Road tax: S$390.22 a year before any age surcharge (LTA's formula, checked 2026-10-19)
- Insurance, standard driver: from S$545.00 a year (20 October 2026)
- Insurance, no NCD: from S$989.59
- Insurance, driver aged 27: from S$924.97
- Insurance, a car 8 years old: from S$545.00
For reference, Category A closed at S$130,001 and Category B at S$130,100 in the October 2026 1st round.
Before you buy: car insurance for the Toyota Raize
Before you drive off, get your car insurance through Shenton Brokers. Compare car insurance for the Toyota Raize 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.