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35 replies to this topic | 66 praises

#1

Posted 10 July 2018 - 09:54 AM

sthh
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Hello all,

 

My current ride is a Mitsubishi attrage which is bought in Aug 2015 when cat A COE is $57,500

It is paid in full. So far, the car works well for A to B travel. 

 

Will it be a good time now to scrap the car to take advantage of the current lower COE? 

Currently looking at the Nissan Note or looking at another attrage again. Any suggestions?

 

Thank you,

Sthh

 


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#2

Posted 10 July 2018 - 09:57 AM

WangWang888
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Yes... If you hv money to throw.. Is your scrap amount able to cover the full amount of new car?

#3

Posted 10 July 2018 - 10:01 AM

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Unless the car is giving you problems. I don't see any reason to scrap.



#4

Posted 10 July 2018 - 10:04 AM

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Unless the car is giving you problems. I don't see any reason to scrap.

 

The depreciation of the current car is higher than if I get a new car, due to the high COE. I am thinking that it will make some financial sense to get a new car with lower COE, and extend my ride by 3 years. The car is not giving any problem.



#5

Posted 10 July 2018 - 10:05 AM

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If you are thinking of changing your car, maybe can try to sell it instead. Might get a little bit more than the scrap value?

 

 


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#6

Posted 10 July 2018 - 10:07 AM

sthh
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If you are thinking of changing your car, maybe can try to sell it instead. Might get a little bit more than the scrap value?

 

That's a good idea. 



#7

Posted 10 July 2018 - 10:11 AM

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That's a good idea. 

Hw much u bought during 2015? Seems sgcm 2nd hand 2015 attrage selling at abt 50k



#8

Posted 10 July 2018 - 10:13 AM

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Hw much u bought during 2015? Seems sgcm 2nd hand 2015 attrage selling at abt 50k

Bought my ride at 84K. If the 2nd hand selling price is about 50K, then likely the dealer will take it in even less.  



#9

Posted 10 July 2018 - 10:19 AM

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Bought my ride at 84K. If the 2nd hand selling price is about 50K, then likely the dealer will take it in even less.  

Last time 2015, new 84K,coe 57.5K

Now 2018,new 62k,coe 25k

How come?lol....



#10

Posted 10 July 2018 - 10:37 AM

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If you wish to change your ride to either Attrage or Note, you should trade-in your 3-yr old car instead of scrapping or selling it to other car dealers. There is the $5K used car bonus for Attrage; and for Note you will enjoy additional discount for trade in car (probably $2K). By trading in your old ride, for new one, you will likely get paper value plus body (worse case scenario) compared to you scrapping it. Then only you can enjoy lowest pricing tier as mandated by both Mitsubishi and Nissan ADs. 

 

Unless you are buying from ADs with no requirement for trade in car such as Honda, Hyundai, etc, then you are better off selling to used car dealers or even trade in vs scrapping it (lowest $).

 

 

Hello all,

 

My current ride is a Mitsubishi attrage which is bought in Aug 2015 when cat A COE is $57,500

It is paid in full. So far, the car works well for A to B travel. 

 

Will it be a good time now to scrap the car to take advantage of the current lower COE? 

Currently looking at the Nissan Note or looking at another attrage again. Any suggestions?

 

Thank you,

Sthh

 



#11

Posted 10 July 2018 - 10:39 AM

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Last time 2015, new 84K,coe 57.5K

Now 2018,new 62k,coe 25k

How come?lol....

Must ask C&C........



#12

Posted 10 July 2018 - 10:42 AM

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If you wish to change your ride to either Attrage or Note, you should trade-in your 3-yr old car instead of scrapping or selling it to other car dealers. There is the $5K used car bonus for Attrage; and for Note you will enjoy additional discount for trade in car (probably $2K). By trading in your old ride, for new one, you will likely get paper value plus body (worse case scenario) compared to you scrapping it. Then only you can enjoy lowest pricing tier as mandated by both Mitsubishi and Nissan ADs. 

 

Unless you are buying from ADs with no requirement for trade in car such as Honda, Hyundai, etc, then you are better off selling to used car dealers or even trade in vs scrapping it (lowest $).

 

Thank you so much. This will also be the most convenient scenario.



#13

Posted 10 July 2018 - 11:04 AM

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If you wish to change your ride to either Attrage or Note, you should trade-in your 3-yr old car instead of scrapping or selling it to other car dealers. There is the $5K used car bonus for Attrage; and for Note you will enjoy additional discount for trade in car (probably $2K). By trading in your old ride, for new one, you will likely get paper value plus body (worse case scenario) compared to you scrapping it. Then only you can enjoy lowest pricing tier as mandated by both Mitsubishi and Nissan ADs. 

 

Unless you are buying from ADs with no requirement for trade in car such as Honda, Hyundai, etc, then you are better off selling to used car dealers or even trade in vs scrapping it (lowest $).

For Nissan not sure.

But for C&C the in-house trade-in of 5k is crap la!

Quote my car paper plus 1k.lol.....

No car trade in also same price.lol...

 

To add,outside dealer quote paper plus 6k.


Edited by Sktan10, 10 July 2018 - 11:19 AM.


#14

Posted 10 July 2018 - 11:08 AM

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Bought my ride at 84K. If the 2nd hand selling price is about 50K, then likely the dealer will take it in even less.  

Can you stomach to lost about 40K for a 3 year old car? Once you factor your current car depreciation into your intended purchase of the new car and average out by 13 years, you'll realise that the saving on the depreciation will be less than 1k per year. The saving is not a lot but to some people, they want to save every penny they can.

 

For example your current car had a scrap value of 6k, based on 84k - 6k / 10, your current car depreciation is around 7.8k. Take it that your current car is 3 years old and you trade in at about 46k, your current car deprecation over 3 years is 38k. The new car you intend to purchase is 60k and scrap value is 6k. So over the next 10 years, the new car depreciation is about 54K for 10 years ownership. Add both together and average out over 13 years ownership (38K + 54K ) /13 = 7.08k. per year. 

 

So in one word, even if COE fall by more than half of your current Car COE, the saving will not be a lot as what some people expect. But it'll be worth while for people who're upgrading to a more premium ride than the current car the owner is driving now.


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#15

Posted 10 July 2018 - 11:28 AM

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If your 75% PARF rebate can cover the price of another new car, worth considering.


Edited by Beehive3783, 10 July 2018 - 11:28 AM.

Cheers
Ben

#16

Posted 10 July 2018 - 02:59 PM

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Last time 2015, new 84K,coe 57.5K

Now 2018,new 62k,coe 25k

How come?lol....

 

Haha, its like tat one mah. This is S'pore. No choice one.

 

Last time my Avante 2009, bought at $37K, new car basic model. Coe was $5K. So the car itself $32K tio-bo.

Nw coe 25K, Elantra basic model $74K. So the car itself $49K. Makes sense bo? Dun make sense rite.

 

But, no choice, its like tat one. We still need to buy car.



#17

Posted 10 July 2018 - 03:18 PM

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Wah! Last time your Avante 2009, bought at $37K!

 

I thot my Sep 2007 Mit Lancer CS3 Manual was already cheap at 46K (COE was 17K)- haha

 

Your Avante price Bestest!


Edited by Digthis1, 10 July 2018 - 03:18 PM.


#18

Posted 10 July 2018 - 03:27 PM

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Wah! Last time your Avante 2009, bought at $37K!

 

I thot my Sep 2007 Mit Lancer CS3 Manual was already cheap at 46K (COE was 17K)- haha

 

Your Avante price Bestest!

 

Yes, thats rite. Mine MT, $37k. AT one is $39k. Tat was the best price ever, not only for me but other buyers as well. Honda Civic 1.6 was around 42k only, something like tat.

 

But, can't take those prices as reference, becas those days will never happen again. Fyi tat time Sgp population 4.9mil. Nw, 5.79mil hor.



#19

Posted 10 July 2018 - 03:43 PM

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Thank you so much. This will also be the most convenient scenario.

 

I'm comparing against u buying a Note now and keeping ur current Attrage:-

 

1) U buying Nissan Note

 

U bought at 84K, now lets say sell abt 50K. U loose 34K. Lets say u get a better price and end up loose only 30K (within 3yrs). 1 yr u loose 10K.

 

Irregardless wat car u buy, u must add another 30K into ur Car price into ur this decision. E.g Nissan Note now 64K, so u must add 30K. So nw u r actually buying ur Note at 30+64 = 94K.

 

2) U keeping ur current Attrage

 

Ur depreciation shld be abt 7K+ bah. Tats it. 

--------------------------------------------------------------------------------------------------

 

Therefore, its $ vs liking. If u r cash tight, then better keep ur car. But if u r not cash tight (gt some extra cash or comfortable cash) and like the Nissan note alot, Y not, go for it  [laugh]


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#20

Posted 10 July 2018 - 03:49 PM

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Haha, its like tat one mah. This is S'pore. No choice one.

Last time my Avante 2009, bought at $37K, new car basic model. Coe was $5K. So the car itself $32K tio-bo.
Nw coe 25K, Elantra basic model $74K. So the car itself $49K. Makes sense bo? Dun make sense rite.

But, no choice, its like tat one. We still need to buy car.

$37k new. Normal?

If OPC means $20k?

Slurp slurp slurp.

If 2019 for drop to 10k. I will renew coe!

Edited by Wildfaye29, 10 July 2018 - 03:50 PM.



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