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COE issue


Tanahseng
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Friends in MCF, can someone enlightened me regarding COE renewal.

 

My current car left one more year, if I decide to renew the COE for 5 years upon expire, can I pay it via installment? If so, what will be the step by step like? Hope someone can advice, TIA

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Friends in MCF, can someone enlightened me regarding COE renewal.

 

My current car left one more year, if I decide to renew the COE for 5 years upon expire, can I pay it via installment? If so, what will be the step by step like? Hope someone can advice, TIA

LTA cannot pay by instalment,but you can get a finance company to finance it.

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Friends in MCF, can someone enlightened me regarding COE renewal.

 

My current car left one more year, if I decide to renew the COE for 5 years upon expire, can I pay it via installment? If so, what will be the step by step like? Hope someone can advice, TIA

 

if wanna renew, go for 10yrs, not 5yrs because either way, u will forfeit your entire PARF

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Neutral Newbie

Buying a $70k coe to renew a car?!

now the depreciation for 5yr old jap B&B car is usually more than 10k.If you have a close to 10yr old car in very good condition,might be more economical to renew COE.

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now the depreciation for 5yr old jap B&B car is usually more than 10k.If you have a close to 10yr old car in very good condition,might be more economical to renew COE.

Sounds logical. But some people may not look at this way. Maybe rather take the $70k to buy a 3-5 year old used car.

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Buying a $70k coe to renew a car?!

 

Ya. Paying $35K to renew COE for 5 years plus u lose the scrap value abt $10K is aby $5K per year.

 

Might as well buy a 2nd hand car sud b cheaper.

 

My car also COE expire in 2016 buy I hope the COE wil drop to much lesser by then. Only then wil I consider to renew my COE. Otherwise I just switch to ride motorbike.

 

I think its crazy to pay $70K for the COE. [hur]

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if wanna renew, go for 10yrs, not 5yrs because either way, u will forfeit your entire PARF

tough decision also, after 10 yrs of usage car will starts to have problems, to renew another 10 yrs thereafter the breakdown issues could be costly.

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Twincharged

tough decision also, after 10 yrs of usage car will starts to have problems, to renew another 10 yrs thereafter the breakdown issues could be costly.

 

Depends on what car and how you looked after it lo. My previous car at 10 years old still running well and never broke down before. Should be able to run for another 10 years without much problems.

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tough decision also, after 10 yrs of usage car will starts to have problems, to renew another 10 yrs thereafter the breakdown issues could be costly.

 

Now most cars easily last 20 or even 30 yrs if maintained properly.

 

I drove a COE car till 19 yrs then sold n change to my present car but that COE car can easily renew COE another 10 yrs but only cos the COE was still a bit high so I decided to get a 2nd hand car with a lower COE.

 

My present car already 8 yrs n still in very good condition. No problem to last another 10-20 years even. I just waiting to see how the COE price is in 2 yrs time to decide if I want to renew its COE for another 10 yrs.

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Friends in MCF, can someone enlightened me regarding COE renewal.

 

My current car left one more year, if I decide to renew the COE for 5 years upon expire, can I pay it via installment? If so, what will be the step by step like? Hope someone can advice, TIA

No, you cannot pay by instalment.

Full cash upfront to LTA.

Just do it via onemotoring website.

Simply click and pay via internet banking.

 

Otherwise, you have to appriach finance company to renew for you and they will either charge you base on personal loan rate or take over the ownership of you car and charge you car loan rate. Either ways you have to pay at least 5% effective rate.

 

Good luck to those who got no cash and a COE running out of life.

be prepared to lose your wheels....whooopeee.

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why must die die use the rationale that new cars are expensive; consider buying a resale car with that 70K COE instead.

 

70K can still get decent jap examples with 4 years left. Heck even i'm aiming to get a 2006/2007 car because that's what i can afford at this present time.

 

Key word - affordability.

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tough decision also, after 10 yrs of usage car will starts to have problems, to renew another 10 yrs thereafter the breakdown issues could be costly.

I think if you plan to renew your current car coe, you should send your car for a major surgery and change all parts. I believe the car can last at least another 5 years.
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No lah. If I'm in TS shoes I won't get a used car similar to the price of the COE renewal. One thing is you do not know the condition of that car. Your best bet is to stick to your own car coz you take care of it you know. Dun make it sound like buying used car means it's going to be problem free. If you bought a lemon you are screwed.

 

To TS, better search in onemotoring website. The 5year renewal is based on the average price of the previous 3 COE biddings, it's called PQP. The thing you must take note is that after that 5years is up you are unable to renew further should you decide to hold on to it and your car must be scrapped. Actually if I'm you I wouldn't take this option unless I'm very sure I could change car within the 5years.

 

I rather go for the 10yr renewal. I'm still able to get back most of it if there's a chance to change car say within 3years. If no chance you just hold on to it until the COE expires.

 

It's not going to be an easy decision. Looking at the congested roads the COE quota is going to remain small and thus drive COE prices high. If you are struggling financially best is to give up and take public transport.

 

No offense but if you have to ask it's better you save the trouble and save your money when the time comes. Be it getting a used car or COE renewal the issue is coming up with loads of cash upfront. No installment plans available.

Edited by Watwheels
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I for one am likely to renew the COE for my 911. (Although i cant say for sure that i wont be poisoned to get another)

It runs great , i know the condition well and its a 911 after all.

But with the OMV nearing $130k, it's different from your usual $20k,$30k,$40k, $50k OMV car.

Thankfully, just like a Rolex, it holds good value

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No one knows your car better than you do. If it is working fine and since you have been taking care of it, you know best whether should you renew the COE.

 

If I assume a standard car loan can be applied to COE renewal and applying an interest rate of 2.88% for 60 months, the monthly installment range from S$500 to S$1,000 for a loan amount between S$30K and S$50K respectively. So Tanahseng may want to calculate whether he wants the car to "work for him" or he has to "work for the car".

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My euro-r due expire in 2014, I would probably renew 10 yrs also

Till date it only clocked 105k mileage and problem free

Low maintenance cost and it's wear and tear hardwares can last more then 5 yrs easily

For eg. its engine mounting only wore off after 8 yrs

Thankfully, mine is an old collector edition of casio g-shock, it hold value well also since NA type-r engine is history

Edited by Dfx16
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