Renew COE or Buy pre-owned?

[Mecontle]

so pathetic how come lorry & van also penalised by coe , are new bz owners going to sustain with this kind of spending for cargo transport ? maybe lta can ask tp officers to take sbs mrt to catch traffic speeding offenders

[MadDog70]

well , if everyone is waiting for 2015/16 for the mass deregisteration of cars, COE might not fall as much .. aint it?

 

How to find out how many de-registration per month?

 

[So_nice]

straightforward case bro. scrap ur old car and take the 13k to buy a pre-own, say 06 or 07 ones.

 

still got parf to take back at the end of the day. renew ur current car would mean a potential 50k +13k. worth it meh? i dun think so seriously.

[W124]

I have driven a COE Merc 200E for the last 7 years and it hasn't given me much problems

 

Bought it for 23k and then renewed COE for 3k

 

Major maintenance items - overhaul engine (3k), overhaul transmission (4k), change entire exhaust ($800)

Cosmetics - respray (1.2k)

 

Road tax - 1.8k, insurance w/ 50% NCD (800)

 

For those who are interested in owning COE Merc, we are on Facebook! Mercedes Benz W124 Singapore

 

Perfect for those who do not have a trusted workshop or mechanic - we have local workshops and even workshops in JB if you dun mind buying your own parts locally and take advantage of the cheaper labour charges in JB

 

Road tax only looks expensive - it's much cheaper than the average monthly instalment

 

There's more information at onemotoring forum on W124 (MB's name for 200E)

 

It's more comfortable and feels more solid than many new cars on the road...and there are people willing to help with their information and advice but only if you know where to go...Cheers! Hope this is helpful for people looking for cheaper car ownership

[W124]

I noticed some people sounded very discouraged when they realised they could only get 3rd party insurance

 

I think it's because the other car suffers most of the damage in our accidents. I've personally driven away unscathed (and also let the other driver off) and so have some of our friends who drive the W124.

 

There are cases of W124 that were bad buys but there are no unsolvable problems on this car. It's one of the Germany greats of all time - 'over-engineered' for its time. Just find a good mechanic and listen to some friendly advice at our kopi sessions.

 

Many W124s are now still available at prices below 30k and COE renewed until 2019...Hope to see you

[Picanto]

up for discussion as i think coe will cross the 80k mark soon

[Roh96]

up for discussion as i think coe will cross the 80k mark soon

 

I think the answer is obvious, - buy pre-owned.

[Picanto]

 

I think the answer is obvious, - buy pre-owned.

The depreccitation for 2nd hand cars very high. A 5yr old altis dep.more than 9k per yr

[Passat57]

The depreccitation for 2nd hand cars very high. A 5yr old altis dep.more than 9k per yr

 

depreciation for a 10-years old Altis with renewed COE will also dep. $8K/yr + extra road tax and maintenance.

[13177]

In this case really need to give up cars, Cause renew coe or buy 2nd hand, dep also high.

[Gearosv2]

How about new strategy: buy and scarp away...

 

Buy non-popular car with 1 or 2 year left and scrap at the end of the term. Rationale:

1. Since it is not popular, dealer usually don't dare to earn as much as 10k per transaction.

2. Also, dealer don't want to keep too long since most people won't want to buy car with 1 or 2 years left. So they rather profit less and quickly sell away for a quick small profit.

3. With Lemon law in place, I think most dealer will not try to pull stunt.

4. Cars with 7 or 8 year on the car should have most major wear and tear replaced at the 5th/6th years if not 7th years (since really cannot dun change liao, haha).

5. If there's no major issue that threatens safety, you can tahan until the car expired.

 

Most of this 5k/year car are like Chevy range of Optra and Aveo. Hyundai range of Trajet and Matrix.

 

Just my 2c.

[Roh96]

The depreccitation for 2nd hand cars very high. A 5yr old altis dep.more than 9k per yr

 

Depreciation is market driven. If there is no demand, you think dealers dare to shout $9K dep for used car?

How about new strategy: buy and scarp away...

 

Buy non-popular car with 1 or 2 year left and scrap at the end of the term. Rationale:

1. Since it is not popular, dealer usually don't dare to earn as much as 10k per transaction.

2. Also, dealer don't want to keep too long since most people won't want to buy car with 1 or 2 years left. So they rather profit less and quickly sell away for a quick small profit.

3. With Lemon law in place, I think most dealer will not try to pull stunt.

4. Cars with 7 or 8 year on the car should have most major wear and tear replaced at the 5th/6th years if not 7th years (since really cannot dun change liao, haha).

5. If there's no major issue that threatens safety, you can tahan until the car expired.

 

Most of this 5k/year car are like Chevy range of Optra and Aveo. Hyundai range of Trajet and Matrix.

 

Just my 2c.

 

I agree with your idea. Those left 2 yrs to drive will give better value for money. Time is clicking and dealers also want to get rid of them fast, if the offer is reasonable, they will quickly let go.

[Tjkbeluga]

In this case really need to give up cars, Cause renew coe or buy 2nd hand, dep also high.

 

If you plan to use the car to the end, why should the depreciation matter? Just get whichever that is cheaper, right?

[Gearosv2]

 

If you plan to use the car to the end, why should the depreciation matter? Just get whichever that is cheaper, right?

 

Some times is family expansion plan... A friend of mine is change from sedan to MPV in view of the 3rd baby coming :)

 

but to buy at this time is madness... haha

[Xravenx]

Hi all,

 

sorry to resurrect this topic. My car('05 Altis) is due to either scrap or renew COE by March this year, and I am seriously considering whether to scrap and get back $9K++ or renew COE for another 10 years. I am leaning towards renewing, but since it is about 10 years old, there are quite a few 'sounds' in the car which I will need to check it out.

 

Why i consider renewing COE:

- cheaper than buying a pre-own car (depreciation of current car with renewed COE is about $7.5K($65k+$9K parf value loss / 10years), while a new pre-own car is at least $9-10k(based on current prices at SG carmart)

 

Why i consider buying a newer Pre-own car

- lesser potential issues than my current car.

 

Potential concerns:

-probably need to do an overhual of the engine ($?K)

-possibility of major repairs on the car(just changed the battery recently though)

-yearly vehicle inspection from now on

 

BMW is out of the question as i do need a car for my work and family purposes.

 

I am asking for your expert/experienced opinions on your choice if you are in my shoes, and why?

 

Thanks :)

[evidence]

buy a car registered in 2006/7, u may not get a toyota but

definitely a hyundai verna,sonata, kia cerato/rio/magentis,lancer,

mazda 3 if u r lucky and the depre ard 6-7k...

try scouting ard..

[Toeknee_33]

What is the mileage on your Altis?

[Vhtfhwlego]

How about new strategy: buy and scarp away...

 

Buy non-popular car with 1 or 2 year left and scrap at the end of the term. Rationale:

1. Since it is not popular, dealer usually don't dare to earn as much as 10k per transaction.

2. Also, dealer don't want to keep too long since most people won't want to buy car with 1 or 2 years left. So they rather profit less and quickly sell away for a quick small profit.

3. With Lemon law in place, I think most dealer will not try to pull stunt.

4. Cars with 7 or 8 year on the car should have most major wear and tear replaced at the 5th/6th years if not 7th years (since really cannot dun change liao, haha).

5. If there's no major issue that threatens safety, you can tahan until the car expired.

 

Most of this 5k/year car are like Chevy range of Optra and Aveo. Hyundai range of Trajet and Matrix.

 

Just my 2c.

The best car you can get under S$6500 per year.