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Keeping cars more than years

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#1

Posted 12 January 2011 - 02:34 AM

Saviourwu
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hi guys,

any idea what will be the yearly costs, excluding renewal of COE, for keeping a car more than 10 years?

will a new car depreciation (assuming low COE period) be lower than upkeep for maintaining cars older than 10 years old?

i'm looking to keeping my car till it becomes antique then sell it off, but need to make sure worth the wait laugh.gif


#2

Posted 12 January 2011 - 07:01 AM

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I believe you are aware that replacement parts are difficult to get when worn/damaged, if any of these happen.
Steel do fatigue after many years usage, so expect more frequent breakdowns. Most of us do not find it worth the efforts to keep older cars.
Can share with us if you find it worthwhile?

#3

Posted 12 January 2011 - 07:21 AM

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You will have to pay 10% more road tax every year,cap to 50% on the 15th year...yearly inspection,instead of every 2 year.

Fairlady.


#4

Posted 12 January 2011 - 07:27 AM

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If you still like the car, why not. Unless COE drop than can get a brand new car.

#5

Posted 12 January 2011 - 08:43 AM

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I believe most car can lasted more than 20 years. I think only in SG everyone wants a brand new car as often as possible. If there is demand for parts, I strongly believe, workshop will be ready to have part to replace. If there is demand, there is supply.

#6

Posted 12 January 2011 - 08:55 AM

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IT depends on what car you are driving though.

Not every car has value even if its antique.

#7

Posted 12 January 2011 - 09:04 AM

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IT depends on what car you are driving though.

Not every car has value even if its antique.


IMHO, the Old Benz like W124 and W210 still have many followers. These more than 10 years old cars are found almost everywhere. I was told by the JB friends here that there are not lack in spare parts for these old Benz laugh.gif.

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#8

Posted 12 January 2011 - 09:47 AM

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Parts hard to find is bs. I have a 22yr old and I can still get parts from the stockist. If you really can't find there's always eBay. Car breAking down more is due to owners not doing preventive maintenance.
Parts will wear n tear, it's part n parcel of car ownership. Just do a proper once over and it'll be good to go. Don't expect it to be maintanece free or "just bring back to agent" for fixer uppers. Most ppl who keep older cars have their own preferred workshops.

Some might even argue old cars that are taken care of are even more reliable due to less electronics involved. But of course you need to get a good example to start with or if not, a cheap one that you have already set aside a sum to rebuild.

I personally prefer to keep Coe cars becos I like the cars I have and I dubln really buy with the intention to sell. If it's a current car u hav turning 10 and u wanto renew Coe, u havto be prepared to give up whatever parf value it has. So havto decide for yourself if it's worth it.


Edited by Mockngbrd, 12 January 2011 - 09:52 AM.


#9

Posted 12 January 2011 - 10:00 AM

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I believe you are aware that replacement parts are difficult to get when worn/damaged, if any of these happen.
Steel do fatigue after many years usage, so expect more frequent breakdowns. Most of us do not find it worth the efforts to keep older cars.
Can share with us if you find it worthwhile?

..Yeah..I tried to "save" my 18year old Fiat 127 ...but the "body" steel fatigue was very evident when I had to jack up to replace a flat tyre...so heartbreakingly bade farewell to the fiat in 2001..but spare parts ok..

#10

Posted 12 January 2011 - 10:04 AM

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my last 2 ride is more then 10 years, when honda 82 is scape, it is still good. next is renault clio, it is still ok and part is expensive. from another angle, these cars has less electronics which is easier to repair. and for spare parts, it can be "clone". modify from other brand. my renault is using denso compressor. water tank from Japan. alternator from denso. igniton coil from unknown brand. aircon from China. i drove up Genting twice, malacca five times.

#11

Posted 12 January 2011 - 10:07 AM

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Parts hard to find is bs. I have a 22yr old and I can still get parts from the stockist. If you really can't find there's always eBay. Car breAking down more is due to owners not doing preventive maintenance.
Parts will wear n tear, it's part n parcel of car ownership. Just do a proper once over and it'll be good to go. Don't expect it to be maintanece free or "just bring back to agent" for fixer uppers. Most ppl who keep older cars have their own preferred workshops.

Some might even argue old cars that are taken care of are even more reliable due to less electronics involved. But of course you need to get a good example to start with or if not, a cheap one that you have already set aside a sum to rebuild.

I personally prefer to keep Coe cars becos I like the cars I have and I dubln really buy with the intention to sell. If it's a current car u hav turning 10 and u wanto renew Coe, u havto be prepared to give up whatever parf value it has. So havto decide for yourself if it's worth it.

..I like the Merc 230CE..

#12

Posted 12 January 2011 - 10:14 AM

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I don't see our system allows us to properly maintain and keep a COE car.
PARF + OMV = annual deprecations however there will be problems with loans applications.
For example, a COE MR2 with OMV of 20K + Brand New 10 years COE of 20K = $40K... Add dealers/direct seller profit/body cost = $45K.... Annual deprecations of $4.5K. After 3 years of ownership, the new owner might wish to sell off the car and dealers will likely to offer $24.5 which is around $3.5K deprecations. So just after 3 years, the net lost will be $20.5 = $6.83K per annual which is much higher then budgeted. Set deprecations aside, market loans for new buyer will be a hassle too.

For the balance period of the car, banks will only offer paper value for loans = COE 20K / 10years X 7years = 14K.
Who will be in the right mind to top up COV of $10.5K???
24th Aug 2006, we lost a planet!

#13

Posted 12 January 2011 - 10:17 AM

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Parts hard to find is bs. I have a 22yr old and I can still get parts from the stockist. If you really can't find there's always eBay. Car breAking down more is due to owners not doing preventive maintenance.
Parts will wear n tear, it's part n parcel of car ownership. Just do a proper once over and it'll be good to go. Don't expect it to be maintanece free or "just bring back to agent" for fixer uppers. Most ppl who keep older cars have their own preferred workshops.

Some might even argue old cars that are taken care of are even more reliable due to less electronics involved. But of course you need to get a good example to start with or if not, a cheap one that you have already set aside a sum to rebuild.

I personally prefer to keep Coe cars becos I like the cars I have and I dubln really buy with the intention to sell. If it's a current car u hav turning 10 and u wanto renew Coe, u havto be prepared to give up whatever parf value it has. So havto decide for yourself if it's worth it.


Many on the street are not petrolheads and just want the easy way out...

#14

Posted 12 January 2011 - 10:20 AM

Mockngbrd
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I don't see our system allows us to properly maintain and keep a COE car.
PARF + OMV = annual deprecations however there will be problems with loans applications.
For example, a COE MR2 with OMV of 20K + Brand New 10 years COE of 20K = $40K... Add dealers/direct seller profit/body cost = $45K.... Annual deprecations of $4.5K. After 3 years of ownership, the new owner might wish to sell off the car and dealers will likely to offer $24.5 which is around $3.5K deprecations. So just after 3 years, the net lost will be $20.5 = $6.83K per annual which is much higher then budgeted. Set deprecations aside, market loans for new buyer will be a hassle too.

For the balance period of the car, banks will only offer paper value for loans = COE 20K / 10years X 7years = 14K.
Who will be in the right mind to top up COV of $10.5K???

Thats y COE cars are not for everybody. $40k for a 10yr MR2 might be okay to those who like the car. Loans can always be arranged. IF COE car is below 20yrs old, can go through Maybank. If over, there are prvt finance co.


..I like the Merc 230CE..

The black one on SG carmart? Looks tidy, and parts for Mercs can be found easily. Esp. the W124s imo. You just need to stomach the road tax.


Many on the street are not petrolheads and just want the easy way out...

Agreed. For me, i think part of the fun is sourcing for the parts and getting things fixed up.

Its always nice to see a well kept modern classic

Edited by Mockngbrd, 12 January 2011 - 10:22 AM.


#15

Posted 12 January 2011 - 10:29 AM

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yep, so the depreciation for coe cars are parf value (given up) + coe purchased.
one question, would it have any body value? understand that some cars have near zero body value for even a 5yr old.

#16

Posted 12 January 2011 - 10:30 AM

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..I like the Merc 230CE..

The black one on SG carmart? Looks tidy, and parts for Mercs can be found easily. Esp. the W124s imo. You just need to stomach the road tax.

..yeah..thats d model and I don thk I ever saw other than black...but if only I cd buy it in cash than d road tax per year is "small change"..hahahaha

#17

Posted 12 January 2011 - 10:36 AM

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yep, so the depreciation for coe cars are parf value (given up) + coe purchased.
one question, would it have any body value? understand that some cars have near zero body value for even a 5yr old.



For me, i take it that depreciation is how much u pay for it / years of COE left (if u intend to keep all the way)
Giving up Parf is if u bought it before it turn into a COE car. So u forgo the PARF. If u bought it after, someone else has forgo-ed it.

Body value i can't really help u there. It varies

Edited by Mockngbrd, 12 January 2011 - 10:36 AM.


#18

Posted 12 January 2011 - 10:41 AM

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Parts hard to find is bs. I have a 22yr old and I can still get parts from the stockist. If you really can't find there's always eBay. Car breAking down more is due to owners not doing preventive maintenance.
Parts will wear n tear, it's part n parcel of car ownership. Just do a proper once over and it'll be good to go. Don't expect it to be maintanece free or "just bring back to agent" for fixer uppers. Most ppl who keep older cars have their own preferred workshops.

Some might even argue old cars that are taken care of are even more reliable due to less electronics involved. But of course you need to get a good example to start with or if not, a cheap one that you have already set aside a sum to rebuild.

I personally prefer to keep Coe cars becos I like the cars I have and I dubln really buy with the intention to sell. If it's a current car u hav turning 10 and u wanto renew Coe, u havto be prepared to give up whatever parf value it has. So havto decide for yourself if it's worth it.


usually you purchased brand new parts on ebay?

would there come a situation where the parts that arrive is different from what you ordered?

#19

Posted 12 January 2011 - 10:49 AM

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How many of you actually keep a car for >10 yrs? I would say not many ppl can do that, imagine driving a car from day 1 till end of 20 yrs. Facing the same car day in day out for 20yrs...no joke. No matter how much love you have for the car initially, it will eventually fade away after a few yrs. When the car start to age and you have to visit workshop more often, at times it may fail you when you need it most(like fail to start or worse car stall on the road etc.). Instead of love growing deeper, it will be frustration slowly develop. That's why we hardly see ppl keeping the same car for 20 yrs, can achieve 15 yrs consider very good already.

Edited by Roh96, 12 January 2011 - 10:50 AM.


#20

Posted 12 January 2011 - 10:50 AM

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I own a 14 year-old Nissan March. It requires very little maintenance thruout the past 6 years. Recently, there was a problem with the Master brake pump and it was difficult to find a replacement. My car was laid up at the workshop for a week until they could find a suitable brake repair kit. Damage $200+.


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