Car with < 6 months - need quick experts' advice

[Eliew]

Hi,

 

I have less than 6 months to go (mid-Nov) before I need to scrap my car. Given the unstable market, what would be the best course of action? e.g. scrap car immediately and/or encash PARF/COE rebate? Wait for couple more months to enter second hand market?

 

Thanks!

[Xers007]

Hi,

 

I have less than 6 months to go (mid-Nov) before I need to scrap my car. Given the unstable market, what would be the best course of action? e.g. scrap car immediately and/or encash PARF/COE rebate? Wait for couple more months to enter second hand market?

 

Thanks!

 

i would suggest to drive on and wait.... unless you want a 100% loan for your next car (if so you only have 1 more day to act).....

Edited June 3, 2013 by Xers007

[Aaronlkl]

Hi,

 

I have less than 6 months to go (mid-Nov) before I need to scrap my car. Given the unstable market, what would be the best course of action? e.g. scrap car immediately and/or encash PARF/COE rebate? Wait for couple more months to enter second hand market?

 

Thanks!

 

I would suggest u to drive till the last day. Meanwhile keep ur fingers crossed. Price may fall but don't expect its to fall by a lot.

[Eliew]

Thanks. The 100% loan is not that important, compared to the price of the second hand! :)

[Eliew]

Understand that there's a shortage of supply to the secondhand car dealers. Would it be viable to consider selling to them (as COE car), take cash and wait for prices to drop?

[marwing]

Understand that there's a shortage of supply to the secondhand car dealers. Would it be viable to consider selling to them (as COE car), take cash and wait for prices to drop?

 

how to sell them as COE car ? will you renew COE ?

Edited June 3, 2013 by marwing

[Newdrive]

Understand that there's a shortage of supply to the secondhand car dealers. Would it be viable to consider selling to them (as COE car), take cash and wait for prices to drop?

me not expert but if u renew the COE, u will lose your PARF then u had to pay in full for the COE (to extend), cannot get loan.

 

when u sell this renewed COE car, u also cannot sell the full price you paid for the car COE (who so dumb to pay u so much for COE car might as well get a second hand car in the market).

 

so u end up making a loss.

 

like others say, drive to the last day and scrap, get your PARF and wait (in my case, but my car due only in 2015 aug)

Edited June 3, 2013 by Newdrive

[Hosaybo]

dispite shortage of 2nd hand cars, you prob get scrap value at most for a car due to scrap in a few months time.

[Kangadrool]

Hi,

 

I have less than 6 months to go (mid-Nov) before I need to scrap my car. Given the unstable market, what would be the best course of action? e.g. scrap car immediately and/or encash PARF/COE rebate? Wait for couple more months to enter second hand market?

 

Thanks!

 

Continue driving if car is still able to move.

 

If got freak COE @ $2, quickly hoot liao and continue to drive $2 car for next 10 years.

[inlinesix]

Continue driving if car is still able to move.

 

If got freak COE @ $2, quickly hoot liao and continue to drive $2 car for next 10 years.

U need continuos 3 mths $2 le.

[inlinesix]

TS, i will be in your shoe 1 yr later. Comes Jan 2014, i will put my car on the mkt for sales while continue drive & looking for a replacement.

 

No pt to renew with such high COE.

[Eliew]

how to sell them as COE car ? will you renew COE ?

 

Of course not. I meant to sell to dealers so they could sell as COE car.

 

[Picanyeo]

I'm no expert but if I were you, I will drive on to the last day and get the PARF value. If you do not need a car urgently, can use public transport for the time being.

 

Buy a replacement when an opportunity arises. COEs, regulations change from time to time. You never know there will be something that is in your favor in time to come.

[Newdrive]

Of course not. I meant to sell to dealers so they could sell as COE car.

 

if your car left a few months, i doubt dealers will take now since its hard to sell them off later (dealer need to pay for COE then sell?). the market is different from the past now.

 

 

[Xers007]

Continue driving if car is still able to move.

 

If got freak COE @ $2, quickly hoot liao and continue to drive $2 car for next 10 years.

 

haha there is no $2 coe, the least is $11....

[Xers007]

Of course not. I meant to sell to dealers so they could sell as COE car.

 

now there only take in car at paper value and many dont even take in cars liao.... so can forget about it...

[Soya]

Hi,

 

I have less than 6 months to go (mid-Nov) before I need to scrap my car. Given the unstable market, what would be the best course of action? e.g. scrap car immediately and/or encash PARF/COE rebate? Wait for couple more months to enter second hand market?

 

Thanks!

 

 

drive till scrap. you're prob gonna get the same $$ for the body anyway.

 

[Eliew]

I'm no expert but if I were you, I will drive on to the last day and get the PARF value. If you do not need a car urgently, can use public transport for the time being.

 

Buy a replacement when an opportunity arises. COEs, regulations change from time to time. You never know there will be something that is in your favor in time to come.

 

Thanks to al your suggestions. Probably will do this. It's a tremendous shame though since my Sunny has served me very well without any hiccups. Got family to transport, so may explore those 'cars-on-demand' in the interim though those usually come with min 1 hour rental, which doesn't make sense if I am fetching my kid from neighbouring school during a downpour, for example.

 

Sigh!