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Renew COE or Buy pre-owned?


Wintersonata
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Agreed that estima is the best but given only those 2 choices, I take grandis.

 

Bro, reply your pm already..

 

Btw, how's the FC between the 2 and also, maintenance? I thot T is more reliable than Mitsu..? any bros here can confirm.

 

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Bro, reply your pm already..

 

Btw, how's the FC between the 2 and also, maintenance? I thot T is more reliable than Mitsu..? any bros here can confirm.

 

T should have better FC.

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Hi

 

I got it for with maintenance and no mileage restriction. I still have the person to pick up the rental car and provide me a replacement car while waiting for it to be serviced. Admin fees? I only paid a 2 months rental as deposit.

 

By the way, how come the quote u got is so high? Scary bro...

 

Copy and paste from some local websites.

Seems like you need to share your lobang.

With rising COE, rental price should also increase as well.

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bro, just buy a used car. why think so much?? by the way when you renew COE you are paying the prevailing Quota premium, like you already calculate 9k after u renew then why bother to renew ?? you buy a used honda jazz, depreciation only around 7k, a used picnic maybe around 9k

 

2006 Camry depreciating at about 9k as well.

Seems like for my car, the PARF is too high to renew the COE.

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Current car COE expiring in Early 2013.

If scrap, should take back about $13k.

Aiming for 2014 - 2016 if COE goes down due to De-registration to buy new car.

Hence, buying a new car now doesn't seem to be a good decision.

 

For COE cars, the previous OMV rebates is lost right? Is my calculation correct?

Seems like buying a pre-owned car with depreciation less than $9k will be a better option? Thanks in advance.

 

If Renew COE (5yrs)

No scrap value

5 yrs COE at ~$25k at 50% off (No loan, full cash)

Increasing road tax every year

Potentially high maintenance cost

Estimate depreciation of about $5k (COE) + $3k (OMV) + $1k (potential maintenance) = $9k

 

If buy Used

<3 yrs old car : Pay depreciation for previous owner

<5 yrs old car : Also pay depreciation for previous owner but maybe lesser

<7 yrs old car : Could be high maintenance due to major wear & tear, but lesser depreciation

>7 yrs old car : Could be even high maintenance due to major wear & tear, but least depreciation

 

 

bro, my 2 cents. Whatever you decide to do next, scrap your current ride 1st.

 

Based on Feb PQP, the prevailing COE payable for CAT B is >70k. So if the trend continues, your 5-year PQP payable should be >35k and not 25k. Adding your 13k PARF, your total depreciation for next 5 years is close to 50k. So yearly depreciation is ~10k. This is very high even for a 2.0L. In addition, like some bros mentioned the maintenance of your ride will definitely be more expensive should you decide to keep another 5 years....adding on to the already high yearly depreciation.

 

You can refer to LTA's site on the COE and PQP information http://www.lta.gov.sg/content/dam/lta/Corp...t_2010_2012.pdf

 

So personally I would scrap the current ride and get a used car that is good for another 4~5 years. It should be just in time for the projected COE drop starting 2014. But the bigger wave is expected to come 2015 or 2016.

 

Hope this helps.

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Copy and paste from some local websites.

Seems like you need to share your lobang.

With rising COE, rental price should also increase as well.

 

Depending on what u want to rent...the 06 polo at 1.3k mthly is a good deal. There is a 08 Audi A4 which is about 2.5k...tempting deal.

 

Anyway, if anyone wants the details of the company, pls pm me. I just share and dun earn anything from it. But if u can earn from the sale of yr car now, better sell and rent. Pray hard together for Coe to drop soon. Lol.

 

Those in sales line can consider as maintenance is covered too...

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Depending on what u want to rent...the 06 polo at 1.3k mthly is a good deal. There is a 08 Audi A4 which is about 2.5k...tempting deal.

 

Anyway, if anyone wants the details of the company, pls pm me. I just share and dun earn anything from it. But if u can earn from the sale of yr car now, better sell and rent. Pray hard together for Coe to drop soon. Lol.

 

Those in sales line can consider as maintenance is covered too...

 

06 Polo rental at 1.3k per month vs 06 Camry depreciating at 750 per month (~9k per annual).

What else is cover under rental except for maintenance, road tax, insurance?

Aware that it's not an apple to apple comparison, but if there is a fixed budget what's the most value-for-money option?

Edited by Wintersonata
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06 Polo rental at 1.3k per month vs 06 Camry depreciating at 750 per month (~9k per annual).

What else is cover under rental except for maintenance, road tax, insurance?

Aware that it's not an apple to apple comparison, but if there is a fixed budget what's the most value-for-money option?

 

bro dun lease la, it may jolly well be a 2-3yrs wait on the coe softening. get the 06 camry (if budget allows) else 06 sonatas are all selling very close to their paper. this wil b min loss.

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bro, my 2 cents. Whatever you decide to do next, scrap your current ride 1st.

 

Based on Feb PQP, the prevailing COE payable for CAT B is >70k. So if the trend continues, your 5-year PQP payable should be >35k and not 25k. Adding your 13k PARF, your total depreciation for next 5 years is close to 50k. So yearly depreciation is ~10k. This is very high even for a 2.0L. In addition, like some bros mentioned the maintenance of your ride will definitely be more expensive should you decide to keep another 5 years....adding on to the already high yearly depreciation.

 

You can refer to LTA's site on the COE and PQP information http://www.lta.gov.sg/content/dam/lta/Corp...t_2010_2012.pdf

 

So personally I would scrap the current ride and get a used car that is good for another 4~5 years. It should be just in time for the projected COE drop starting 2014. But the bigger wave is expected to come 2015 or 2016.

 

Hope this helps.

 

Thanks bro. It's excellent advise.

My initial calculation was proved wrong.

Now your calculation is even more accurate wit PQP.

Seems like at 10k+ depreciation COE renewal, i can even buy a pre-owned BMW!

 

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bro dun lease la, it may jolly well be a 2-3yrs wait on the coe softening. get the 06 camry (if budget allows) else 06 sonatas are all selling very close to their paper. this wil b min loss.

 

06' Sonata are taxi's leh...

Haha, didn't want to be flagged down.

But the new Sonata looks sleek, but too ex now.

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Neutral Newbie

I have a quick question about the Stated Price of the cars in the sgcarmart forum, does this price include the COE or excludes the COE, for example a car like this one

http://www.sgcarmart.com/used_cars/info.ph...132&DL=2298 has a price tag of 18,800

or

http://www.sgcarmart.com/used_cars/info.ph...680&DL=2285

 

do these include COE or it does not include the COE.... and does one have to buy the COE seperately in such cases ?

 

 

 

 

 

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Neutral Newbie

All price stated include COE lah, COE ties with the car, not owner.

 

Thank You Ownage and Maddog,

I asked because the above links has a value for COE seperately as well... so i believe it is still possible to get a car that old for about 18K ....

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I have a quick question about the Stated Price of the cars in the sgcarmart forum, does this price include the COE or excludes the COE, for example a car like this one

http://www.sgcarmart.com/used_cars/info.ph...132&DL=2298 has a price tag of 18,800

or

http://www.sgcarmart.com/used_cars/info.ph...680&DL=2285

 

do these include COE or it does not include the COE.... and does one have to buy the COE seperately in such cases ?

 

it comes with COE but up till 10yrs from the date it is registered... after that you will have to decide if you want to renew the COE via PQP or scrap the car

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