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44 replies to this topic | 235 praises

#1

Posted 06 September 2016 - 03:35 PM

Rayoflight
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Hi MCF-ers, just need to ask this question to get it over my mental calculations.

 

Im driving a BMW 316i for close to 2years now (since Nov 2014) and im looking to change to another ride with a larger interior space (MPV / SUV / Stationwagon). I searched through Sgcarmart and find that some 2013 cars are quite "value for $$".

 

My current monthly installments (5years loan) is about $1.6k.

 

The 2013 cars i shortlisted, monthly installments ranges from $1.15k - $1.2k for 7years loan.

 

I know i am a itchy backside person having changed a few cars within 10years of driving. [:p] so i think i might change cars normally 2-3years of ownership.

 

I was looking at Audi A6 Avant or some Conti/Jap SUVs price ranging from $125k-$140k. Depre is around 16-17k/year. I think depreciation will not matter to me since i most probably wont drive the full 10years.

 

As we all know, 2013 was record breaking for COE prices. Most of the 2nd hand cars i saw had $93k COE and the prices listed are now almost 40% off the then listed prices (not sure of any discount or what when 1st owner bought) for a short 3years usage.

 

Can any helpful soul enlighten me?

 

Thanks very much!



#2

Posted 06 September 2016 - 03:57 PM

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Hey bro, I'm driving an audi that I bought second hand from premium automobile with sky-high COE (98k!!!). Based on my own calculations, it is a worthwhile purchase because of the significant discount to new car price and while my car is second hand, it is essentially a brand new car because it has just been sitting in the showroom (mileage of the car when I collected it was only 12km, which is as good as zero). My depreciation is around $17k/yr, which I feel is a fair price given the circumstances that I just described. 

 

The only problem I see with such expensive COE cars is the future resale value, as the high paper value makes it less attractive when compared to cars with much lower COEs.


Edited by Bigassgun, 06 September 2016 - 04:01 PM.

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#3

Posted 06 September 2016 - 04:03 PM

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Hi MCF-ers, just need to ask this question to get it over my mental calculations.

 

Im driving a BMW 316i for close to 2years now (since Nov 2014) and im looking to change to another ride with a larger interior space (MPV / SUV / Stationwagon). I searched through Sgcarmart and find that some 2013 cars are quite "value for $$".

 

My current monthly installments (5years loan) is about $1.6k.

 

The 2013 cars i shortlisted, monthly installments ranges from $1.15k - $1.2k for 7years loan.

 

I know i am a itchy backside person having changed a few cars within 10years of driving. [:p] so i think i might change cars normally 2-3years of ownership.

 

I was looking at Audi A6 Avant or some Conti/Jap SUVs price ranging from $125k-$140k. Depre is around 16-17k/year. I think depreciation will not matter to me since i most probably wont drive the full 10years.

 

As we all know, 2013 was record breaking for COE prices. Most of the 2nd hand cars i saw had $93k COE and the prices listed are now almost 40% off the then listed prices (not sure of any discount or what when 1st owner bought) for a short 3years usage.

 

Can any helpful soul enlighten me?

 

Thanks very much!

 

i am like you, like to change car every few years... so i usually buy cars that left about 3yrs...

 

depreciation will matter because unless there is another extreme upswing in COE, most likely the 2013 car you buy, the depreciation is gonna be about 20k/yr or more if you sell it 2-3 yrs later... so unless you can tahan selling the car for 60-80k after 2-3yrs... i think you better stick to your current car


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#4

Posted 06 September 2016 - 04:08 PM

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Hello, I was in a similar situation considering to upgrade but I found that the trade in price for my current car was really low. I guess the dealer have to make some money.

 

Assuming you got your 316i for about 170k. The current pricing for 2014 316i is 115-130k. You probably will be offered about 100K plus minus. Can you stomach losing 70k in 2 years? That's like 35k depreciation a year bro!

 

At least for me, pricing for the new car is not so much the problem. Getting rid of the present car is main conundrum.

 

Only solution is to sell your present car privately. 

 

Or just buy as a 2nd car! Haha..  [wave]


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#5

Posted 06 September 2016 - 04:20 PM

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Yes, most likely it will be a direct buyer sale since i have done up my car quite extensively.. I would like the new buyer to experience what a true bmw 316i is really like instead of the stock pml is selling.

Yes some buyers prefer stock car but there are many enthusiasts around too.

Im not in a rush.. Just considering my options.

The 316i wasn't bought at such a high price so i can still stomach that depre for 2yrs.

Whats more the pre-owned car im looking at only travelled 22k kms, much lesser than my current car. Haha

Edited by Rayoflight, 06 September 2016 - 04:21 PM.


#6

Posted 06 September 2016 - 04:31 PM

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u drive BMW, move to Audi sure sian one. consperm. 


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#7

Posted 06 September 2016 - 04:36 PM

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The first owner would have also taken hit the first few yrs depre already so if i sell lets say 2yrs later, there should be a base price too and probably wont lose that much i hope.

Cant believe a brand new 2013 250kish car sells for 130kish in 2013. Probably traded in much less. Lose until shag also haha

u drive BMW, move to Audi sure sian one. consperm. 

 

How about Volvo XC60 T5? [laugh]

 

I like to see nice interiors with alot of buttons leh.. AUDI got alot of buttons to play.

 

Beemer interior i abit sick liao..


Edited by Rayoflight, 06 September 2016 - 04:36 PM.


#8

Posted 06 September 2016 - 04:41 PM

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What about 2012 7 series? Now selling ard 140k.

I remember in 2012 its about 360k. Havent go 5 years ald lose 220k. Thats about 50k per annum
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#9

Posted 06 September 2016 - 04:46 PM

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IMHO... here's how I see it.

 

 

The selling price of an used car is made up of the following:

 

Market Value = Paper Value + Premium

 

The market value of an used car is constantly gauged against the depreciation of an equivalent new car. Hence, the value of an used car will drop if the COE goes downward and vice versa if its goes up. With the equation shown above, the only component that will moves its the "Premium" to match the market value of the car.

 

What does that translate then? It means the owner of the 2nd hand high COE value car is somewhat protected by the actual value of the car provided he bought it at a lower premium (20% or less). To place in numerical term, which is a better buy for a $80K used car... one with $60K paper value or one with $40K paper value?

 

The other scenarios for consideration will be the situation whereby the car is completely gone after an accident. Which one will be easier to swallow if the insurance company is only willing pay close to the paper value? Is it the one with 20% or 40% premium?

 

With that, I do see better value to buy a used car with COE value that is extremely high as I will be paying lower premium for it. 



#10

Posted 06 September 2016 - 04:48 PM

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high coe, high paper value, good buy ...

hmm how come this sounds sibei familiar ... LOL

sounds like "good-bye" [wave] to your $$$


Edited by Wt_know, 06 September 2016 - 04:49 PM.


#11

Posted 06 September 2016 - 04:52 PM

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With the drop in COE, a brand new car may be better value to me.

 

The 216D Grand Tourer isn't that expensive too!


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#12

Posted 06 September 2016 - 05:04 PM

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With the drop in COE, a brand new car may be better value to me.

 

The 216D Grand Tourer isn't that expensive too!

 

Did consider that but a used one is going for 145k i saw recently.. likely management car.

 

Or i can keep my car until i see a used 216D somewhere again for sale..

 

 

Actually all the discussion here makes sense.. so that's why i'm confused.

 

 


Edited by Rayoflight, 06 September 2016 - 05:14 PM.


#13

Posted 06 September 2016 - 05:16 PM

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Did consider that but a used one is going for 145k i saw recently.. likely management car.

 

Or i can keep my car until i see a used 216D somewhere again for sale..

 

 

Actually all the discussion here makes sense.. so that's why i'm confused.

 

I think Ford Grand C-Max in that price range also. Since it's using the Focus chassis platform it's quite fun to chuck around. Of course there are the long-term caveats associated with going with a small rep brand though.


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#14

Posted 06 September 2016 - 05:39 PM

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Did consider that but a used one is going for 145k i saw recently.. likely management car.

 

Or i can keep my car until i see a used 216D somewhere again for sale..

 

 

Actually all the discussion here makes sense.. so that's why i'm confused.

 

 

i was like you earlier this year when checking used 5er year 2012 was around 120k

if get rid of my sept 2013 car around 100~110k, have to come up 10~20k...and lose 1 year coe life

 

since car paid up liao..just drive on to 5th year see if any interesting car comes along.

 

maybe you should finish up your car loan first before changing another ride.  

 

must loon itchiness



#15

Posted 06 September 2016 - 06:14 PM

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What about 2012 7 series? Now selling ard 140k.

I remember in 2012 its about 360k. Havent go 5 years ald lose 220k. Thats about 50k per annum

 

you offer higher price ... that will help :secret-laugh:  


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#16

Posted 06 September 2016 - 07:41 PM

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My 2c, should ponder over this for quite many months before making a decision.

 

When first bought car, I thought confirm drive 10 years cos most wuhua.

 

After 1 year, start to think, so many nice cars out there, life is short, how many 10 years I have only? Maybe should change car at 3 or 5 year mark, just nice still within the high COE supply period.

 

Few months later, think again, upgrade to a junior exec car, chao chao 180k, downpayment min also 70k. Spend another 5 years paying off loan. Why not save the money to upgrade house instead? So back to driving until scrap...

 

Who knows maybe next year change thinking again  [hur]


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#17

Posted 06 September 2016 - 07:51 PM

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Ur idea is a good one but certainly it has to be a significant upgrade 

 

Once u have calculated your "loss" for ur 316I, then u wait for opportunity

 

have been monitoring for a while

 

Saw a 1 year old 5 series going for just 15kdpr/year, super low mileage, direct owner, sold within 1 day

 

the direct owner probably lost 50k plus over 1 year plus year

 

There was also 2 XF 2013 with 93k coe, the actual net sale price for new XF then was 230k after discount from wearnes. list price was 250-270k at 93k coe

 

Both cars sold at around 120k. great value. one was direct owner. very low mileage,  immediate scrap value 85-90k

 

 

 

The first owner would have also taken hit the first few yrs depre already so if i sell lets say 2yrs later, there should be a base price too and probably wont lose that much i hope.

Cant believe a brand new 2013 250kish car sells for 130kish in 2013. Probably traded in much less. Lose until shag also haha

 

How about Volvo XC60 T5? [laugh]

 

I like to see nice interiors with alot of buttons leh.. AUDI got alot of buttons to play.

 

Beemer interior i abit sick liao..

 


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#18

Posted 06 September 2016 - 09:40 PM

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You also take the first hit for your Beemer.

Your examples make sense cos you are actually upgrading from a 316 to an A6. Naturally the latter took a much bigger hit.

So if you lose say 50K in two years and exchange for one that took a bigger hit then you are ok to go but this only happens for an upgrade.

#19

Posted 06 September 2016 - 10:59 PM

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Keep the high COE car until pay off 5 yr loan at 5th yr. Paper value itself probably can get back 100% of the original d/p amt.

If itchy backside now, get a 2nd hand car to play wif in the meantime.
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#20

Posted 06 September 2016 - 11:05 PM

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In buying a used car, I think the COE value is not as critical as compared to buying a new car. The dealers/sellers would set the prices based on current COE values or market sentiments. I will look at depreciation instead. 




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