As of 1^st January 2018, the outgoing Carbon Emissions-based Vehicle Scheme has been replaced with the new (and improved?) Vehicular Emissions Scheme (VES). The aim of the new VES is to reduce not only carbon emissions, but also four other pollutants (hydrocarbons, carbon monoxide, nitrogen oxides, and particulate matter), which get spewed out into the atmosphere, causing major damage to the environment.

Some of these cars retain their rebates or surcharges. But for the most part, more than 50 percent of this list will see a substantial increase in taxes. So how does this affect your car-buying decision?

For starters, the $30,000 rebate for the Toyota Prius Hybrid used to be a big draw for those looking for an eco car but now that it has been bumped down to the neutral band, car buyers will have to fork out an additional $30,000 in order to own one.

And if you've been earnestly waiting for Borneo Motors to launch the Toyota C-HR, now's the time to get it since it currently sits in the Neutral (B) VES band. It won't stay that way for long, though. As of July 2018, the C-HR will be shifted into the C1 VES band, which comes with a $10,000 surcharge. Yikes.

The bottom line is this. If you're looking to buy a new car in 2018, be prepared to fork out more cash and take the time to consider all your options before jumping into a new 10-year relationship.

Here are some related articles that might interest you

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6 things to note before you renew your COE for five or 10 years

A simple guide to COE renewal: How & when you should you renew 

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