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Would you "OPC" a Luxury car?...

By Blogger on 05 Apr 2011

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About 10 years ago, we didn’t see much OPC cars on the road, if we did, they were usually cars like Hyundai Matrix, Kia Cerato, or Hyundai Accent, or Nissan Sunny. Now, OPC cars are everywhere, especially amongst the youngsters. Okay I understand young couples with babies who can barely afford a car, would get an OPC car so they can go out with less hassle on weekends, and I understand youngsters eager to have a car would consider an OPC car as the best option for them. But what disturbs me is seeing “red plate” BMW’s and Lexus’s on the road...

As much as I can remember, I’ve seen a BMW 1 Series, Lexus IS250, Mercedes C200, and even a BMW 335i Cabrio, which costs about $250k to $300K, all these on OPC plates. To me it kind of makes no sense to OPC a car and save like just 10% off the total price, because 1st of all, if that person is ‘well-to-do’ enough to afford a luxury car, then he/she wouldn’t even bother ‘OPC’ing’ a car just to save that $160(based on $17k on a 10 year loan) a month, right? So that’s out of the question.

Now, it’s either they really really really don’t need a car on weekdays for some reason, or they just prefer luxury(or “Face”) over convenience, not being able to use your car half the time only means it lacks convenience.

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Buying a Chery QQ that costs $60k and converting it to OPC with a $17k rebate, will mean that your final price would be $43K. Hence, instead of paying $594 a month on a 10year loan installment, by converting your Chery QQ to OPC, you will end up paying $426 a month, that’s about 30% less.
But if you buy a $200K car, which ends up as $183K after rebate, you’ll be paying $1812 a month instead of $1980, which is barely 10% less. Is that 10% really worth immobilizing your car from 7am to 7pm from Monday to Friday?? For that ‘after rebate’ price, you can probably go for a car that costs $180k, with so much less hassle.

So it kind of bugs me to see such cars on the road, especially when they’re like $200,000 cars. Am I the only 1 who finds this silly?...

This actually shows what some (or rather most) Singaporeans prioritize, and that’s definitely not convenience.

discussions, gossip, other blogs and 3 more...

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Unidentified Apr 05 2011 10:33 AM
why not?
my uncle is driving a OPC merc c class which he won in a lucky draw.
PetrolHead Apr 05 2011 10:39 AM
Aya lucky draw different story la...
Cerano Apr 05 2011 11:09 AM
Hello Author

I personally own an OPC C-Class. I didnt win it in a lucky draw.

I have an OPC C-class because first of all,
I have more than 1 car and a motorbike which I drive to work.
I have no need to drive it on weekdays. Furthermore due to the nature of my work, I cant drive it to my workplace even if i wanted to.

Thats why
Angeloc Apr 05 2011 04:26 PM
Could also be due to work nature? Maybe the person works from 9pm to 5am so he only drives at night. So y not save that bit on road tax and insurance also.
Elfenstar Apr 05 2011 04:36 PM
Errm coz some of us own more than one car so a lack of convenience isn't a factor??? Might as well make use of that 17k for something else to improve our quality of life.
Speedking08 Apr 05 2011 05:53 PM
Sorry to intrude, actually they do that not because of the monthly installments, but its actually the 'road tax'. OPC Road tax are much more cheaper than normal plate cars road taxes.

Just imagine an evo normal plate road tax is $1210.00
OPC evo road tax is $710.00 only

The diff is $500.00
Eddyngiam Apr 05 2011 09:58 PM
OPC scheme is making so much sense for
Those who really do not need to drive
Daily! I hope that LTA will consider 1/2 day
OPC scheme that will really making the OPC
scheme ideas closer to perfection
- pay as you use! Save the plant without killing
The "Singaporean dream" of owning a decent car.
Branzzz Apr 06 2011 12:07 AM
sadly most people who find $200 000 opc cars silly and cannot stand them are the people that can't afford $200 000 cars.
Mrkiasume Apr 06 2011 06:46 PM
I don't see anything wrong with being thrifty.
Supertuna Apr 07 2011 01:54 AM
I dont see anything wrong. Yes the price difference is 10% per month. BUT its STILL 17k.

17000 is 17000 no matter how you look at it.

17000 can buy a nice watch.

17000 can pay for a first class ticket. (I think. lol.)

Doesnt mean you got money means you should carelessly spend it.

If you think OPC is sufficient for your needs and driving habits, why not?

If you need a regular plate car but if you cant afford a regular plate luxury car so buy a OPC one, then you probably didnt make the best decision.

Edmokh Apr 15 2011 09:19 AM
17K is not just all the rebate you get. not forgetting the cheaper insurance, road tax.
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