You have to pay a whopping $76,000 just to be allowed to own a car in Singapore

• Drivers in Singapore have to bid for a Certificate of Entitlement to own a car there.
• The city-state requires those certificates to control how many cars operate in the country.
• The cost can skyrocket when demand is high, and is now worth more than $76,000. 

If you want to own and drive a car in Singapore, you're going to have to pay up: Drivers have to now shell out a whopping $76,000-plus to get the right to buy a vehicle there.

Since 1990, drivers in Singapore have had to bid for a Certificate of Entitlement, or a quota permit, in order to operate a vehicle there. It's a system meant to limit the number of cars on the road, minimizing traffic and emissions. Those licenses are sold in auctions by the government in limited quantities, depending on how many older cars are in operation.