Renew COE or Buy pre-owned?

[Nonewposts]

I was caught in this situation sometime last mtn since my jdm civic type r COE due coming JUN

Many told me should renew the type r and sell it later on

I'm lazy to go through the process of renewing and sell as direct seller later, i dont like to entertain inquires, low ball, request for test drives etc

My mind also told me who's in the right mind to pay up to 90k for a 10 years old japanese sport saloon, and dont expect dealer will appreciate it from business point of view also

 

Eventually i choose to export it

 

Parf @ 16k and body @ 7k

Now 23k warm warm in my pocket awaiting for another opportunity to enter the market again

 

Taking my own sweet time now

No rush i still got a golf gti for point A ~ B

 

Oh ya dont ask me who's the exporter

I exported it via sgcarmart

With attachment, go try your luck over there

Exported to which country

[Dfx16]

 

My last euro r was exported to Malaysia for this type r I'm not sure, I forgotten to ask them

Edited April 7, 2017 by Dfx16

[Flyby]

My JDM Honda Accord 2.0A (CL7A) COE expires in AUG. Car is still driving fine. No major repairs needed yet, but perhaps some pre-emptive maintenance like engine mount and fuel filter needs to be changed. nitty gritty stuff. Throw in a respay and change upholstory, I believe can be settled in the neighborhood of 5k....sorry I disgress.

 

Been thinking of scraping or trading it in. Used car seller gives paper value and says body is worth $500. AD range from paper value to paper+$2000 overtrade depending on what car I go for.

 

Skip to my question here:

 

Parf about $10K, prevailing qouta about $50K (10 years), add $5K repairs (optional I guess). My renewed COE depreciation is only $6,500 including repairs. Granted perhaps more repairs needed and higher road tax. But the point is, the same car in the COE cars category in sgcarmart is selling at depreciation upwards of $8K.

 

Doesn't it make sense for me to renew COE and put it in the market for $75000. I get $10K instead of a token $500 from used car dealer or even paper value from some others.

 

I'm sure there is something I haven't thought of, otherwise everyone else who do the same....

 

What am I missing?

[flashbang]

My JDM Honda Accord 2.0A (CL7A) COE expires in AUG. Car is still driving fine. No major repairs needed yet, but perhaps some pre-emptive maintenance like engine mount and fuel filter needs to be changed. nitty gritty stuff. Throw in a respay and change upholstory, I believe can be settled in the neighborhood of 5k....sorry I disgress.

 

Been thinking of scraping or trading it in. Used car seller gives paper value and says body is worth $500. AD range from paper value to paper+$2000 overtrade depending on what car I go for.

 

Skip to my question here:

 

Parf about $10K, prevailing qouta about $50K (10 years), add $5K repairs (optional I guess). My renewed COE depreciation is only $6,500 including repairs. Granted perhaps more repairs needed and higher road tax. But the point is, the same car in the COE cars category in sgcarmart is selling at depreciation upwards of $8K.

 

Doesn't it make sense for me to renew COE and put it in the market for $75000. I get $10K instead of a token $500 from used car dealer or even paper value from some others.

 

I'm sure there is something I haven't thought of, otherwise everyone else who do the same....

 

What am I missing?

It's a good idea if you can get a buyer. The 10k profit is for your effort to renew, post ad, meet buyers, and go through the transaction.

[Nonewposts]

My JDM Honda Accord 2.0A (CL7A) COE expires in AUG. Car is still driving fine. No major repairs needed yet, but perhaps some pre-emptive maintenance like engine mount and fuel filter needs to be changed. nitty gritty stuff. Throw in a respay and change upholstory, I believe can be settled in the neighborhood of 5k....sorry I disgress.

 

Been thinking of scraping or trading it in. Used car seller gives paper value and says body is worth $500. AD range from paper value to paper+$2000 overtrade depending on what car I go for.

 

Skip to my question here:

 

Parf about $10K, prevailing qouta about $50K (10 years), add $5K repairs (optional I guess). My renewed COE depreciation is only $6,500 including repairs. Granted perhaps more repairs needed and higher road tax. But the point is, the same car in the COE cars category in sgcarmart is selling at depreciation upwards of $8K.

 

Doesn't it make sense for me to renew COE and put it in the market for $75000. I get $10K instead of a token $500 from used car dealer or even paper value from some others.

 

I'm sure there is something I haven't thought of, otherwise everyone else who do the same....

 

What am I missing?

That's if you can sell it for 75k. What happens if you can't sell for 75k? That is the risk involved

[Kangadrool]

Just get rid of it basis as is where is conditions unless your profession is used car dealer. Let the new buyer takes care of what (s)he wants to zhng. The new owner may just want to keep it as is where is conditions too.

Edited June 26, 2017 by Kangadrool

[Imac]

My JDM Honda Accord 2.0A (CL7A) COE expires in AUG. Car is still driving fine. No major repairs needed yet, but perhaps some pre-emptive maintenance like engine mount and fuel filter needs to be changed. nitty gritty stuff. Throw in a respay and change upholstory, I believe can be settled in the neighborhood of 5k....sorry I disgress.

 

Been thinking of scraping or trading it in. Used car seller gives paper value and says body is worth $500. AD range from paper value to paper+$2000 overtrade depending on what car I go for.

 

Skip to my question here:

 

Parf about $10K, prevailing qouta about $50K (10 years), add $5K repairs (optional I guess). My renewed COE depreciation is only $6,500 including repairs. Granted perhaps more repairs needed and higher road tax. But the point is, the same car in the COE cars category in sgcarmart is selling at depreciation upwards of $8K.

 

Doesn't it make sense for me to renew COE and put it in the market for $75000. I get $10K instead of a token $500 from used car dealer or even paper value from some others.

 

I'm sure there is something I haven't thought of, otherwise everyone else who do the same....

 

What am I missing?

Check out JDM Accord on used car section. Dealer are selling at $9-$10K depreciation.

 

If you renew COE and sell at $8k depreciation.....I am sure you can sell off quite easily.

 

Go for it.

 

 

[Hamburger]

Once renewed, be prepared to hold on for a long time as dealers would just buy at coe values.

 

Risk is definitely there.

[mersaylee]

Missing the reality that dealer asking price is always a sticker price. Mostly close deal much lower than that...

 

Consider yourself lucky to find direct buyer at 7k dep or be prepared to hold on to it till coe shoot through the roof during the 10 year tenure, if it happens at all.

[Jamesc]

Very simple question.

 

After renew COE will you keep the car for the next 10 years

 

or buy a new car.

 

What make you think other people won't think the same as you?

 

[Nzy]

That's only if you can find a buyer yourself. Or else dealer usually take it in at much lower price.

[7hm]

The $10K PARF doesn't seem worth forfeiting to me in this case.

[Notsogoodman]

My JDM Honda Accord 2.0A (CL7A) COE expires in AUG. Car is still driving fine. No major repairs needed yet, but perhaps some pre-emptive maintenance like engine mount and fuel filter needs to be changed. nitty gritty stuff. Throw in a respay and change upholstory, I believe can be settled in the neighborhood of 5k....sorry I disgress.

 

Been thinking of scraping or trading it in. Used car seller gives paper value and says body is worth $500. AD range from paper value to paper+$2000 overtrade depending on what car I go for.

 

Skip to my question here:

 

Parf about $10K, prevailing qouta about $50K (10 years), add $5K repairs (optional I guess). My renewed COE depreciation is only $6,500 including repairs. Granted perhaps more repairs needed and higher road tax. But the point is, the same car in the COE cars category in sgcarmart is selling at depreciation upwards of $8K.

 

Doesn't it make sense for me to renew COE and put it in the market for $75000. I get $10K instead of a token $500 from used car dealer or even paper value from some others.

 

I'm sure there is something I haven't thought of, otherwise everyone else who do the same....

 

What am I missing?

Dealers will throw in some perks and help buyers finance the car. Maybe like a 10%-20% down-payment with the rest on loan and up to 10 years financing to make it real affordable for a certain group of buyers

[RadX]

My JDM Honda Accord 2.0A (CL7A) COE expires in AUG. Car is still driving fine. No major repairs needed yet, but perhaps some pre-emptive maintenance like engine mount and fuel filter needs to be changed. nitty gritty stuff. Throw in a respay and change upholstory, I believe can be settled in the neighborhood of 5k....sorry I disgress.

 

Been thinking of scraping or trading it in. Used car seller gives paper value and says body is worth $500. AD range from paper value to paper+$2000 overtrade depending on what car I go for.

 

Skip to my question here:

 

Parf about $10K, prevailing qouta about $50K (10 years), add $5K repairs (optional I guess). My renewed COE depreciation is only $6,500 including repairs. Granted perhaps more repairs needed and higher road tax. But the point is, the same car in the COE cars category in sgcarmart is selling at depreciation upwards of $8K.

 

Doesn't it make sense for me to renew COE and put it in the market for $75000. I get $10K instead of a token $500 from used car dealer or even paper value from some others.

 

I'm sure there is something I haven't thought of, otherwise everyone else who do the same....

 

What am I missing?

 

 

Merged here

 

Same premise of discussion

[Flyby]

Thanks for all your quick replies guys. I'll try my best to reply to everyone.

 

As for the merged topic, i dunno why the mod did that. its a different question all together. I'm not asking if i should buy pre-owned. Eager to show mod power? I couldn't find my answer searching, so i started a new thread lor.

 

It's a good idea if you can get a buyer. The 10k profit is for your effort to renew, post ad, meet buyers, and go through the transaction.

10k for this work i think quite worth it leh. not like i make 10k just by snapping my fingers doing my day job.

 

That's if you can sell it for 75k. What happens if you can't sell for 75k? That is the risk involved

Yup thats true. i guess i have to be prepared to drive the car for 10 years if i can't let it go. But if I sell at $75K at the current market condition, is it asking too much? looking at the current listings at sgcarmart, it seems reasonable?

 

Just get rid of it basis as is where is conditions unless your profession is used car dealer. Let the new buyer takes care of what (s)he wants to zhng. The new owner may just want to keep it as is where is conditions too.

Yeah thats an option also. If i'm really stuck with it after i renew COE, I can still consider repairs then.

 

Once renewed, be prepared to hold on for a long time as dealers would just buy at coe values.

 

Risk is definitely there.

Is this from experience? If dealer buy at COE value, I might as well scrap?

 

Missing the reality that dealer asking price is always a sticker price. Mostly close deal much lower than that...

 

Consider yourself lucky to find direct buyer at 7k dep or be prepared to hold on to it till coe shoot through the roof during the 10 year tenure, if it happens at all.

Again, is this from experience? I would consider buying a used car as well. If what you say is true, I really need to ask for a big discount from the used car listed price? like $10k-$20k off? Haven't been in the market cuz i have been driving the same car for 10 years. hope you can share your experience.

 

Very simple question.

 

After renew COE will you keep the car for the next 10 years

 

or buy a new car.

 

What make you think other people won't think the same as you?

 

After renew I guess I can have a choice of keeping or selling and buying another car. But I prefer to change to something with a bigger boot lah.

 

I wouldn't know what other people are thinking, thats why im posting the question here to solicit ideas to know what other people think.

 

That's only if you can find a buyer yourself. Or else dealer usually take it in at much lower price.

Do you have any experience to share? like how much listed and actual transacted price?

[Adrianli]

I used to drive a CL7A too. I dont think ppl will buy a renew COE CL7A. Ppl will go for CL7R instead. I say just scrap it.

[Hamburger]

I used to drive a CL7A too. I dont think ppl will buy a renew COE CL7A. Ppl will go for CL7R instead. I say just scrap it.

Frankly speaking if one can renew altis, I believe CL7 would be a better choice.

 

Less uncle and car looks definitely more handsome.

[Ct3833]

Frankly speaking if one can renew altis, I believe CL7 would be a better choice.

 

Less uncle and car looks definitely more handsome.

One consideration is the euro Accord is not as common here as compare to Altis, to find spare parts locally for Accord after a while may be a challenge, Altis should not be a problem. Edited June 27, 2017 by Ct3833