COE Crashed

[Liquid_j]

read articles saying that it'll drop but bounce back fast...

[Coolblue6699]

Liquid, which article har ?? there is none reason for the COE to rebounce, more ERP setting up, more COE released and higher fuel cost...........etc

 

I also wish it can rebounce, now my car worthless

 

See the new car price wah lau sibei song but cant take the losses selling my present car

[Genie47]

Then don't sell.

[Kanr]

Wats u say are very true and sad to hear,bro!!Next, all the new car drivers are going to lose the depreciation of the car like the pants going to dropped down!!! As the COE crashed, all the existing new cars are worthless and nodody will change to a newer ones or impulse buying at this hour,sadness to say!!!!!!!!!!!!!

[Fortress]

You are right. These are guys who buy cars on impulse or buying beyond their means, not knowing that a car is a depreciating asset. If you accept that, you do what you can to minimise that. Murphy's law applies to anything, whatever a good deal there is another better.

Edited October 8, 2005 by Fortress

[Kanr]

It will be the greatest losses to those guys who hv no planning of theirs finances status,bro!!!Sad to know that this group will hv to eat grass almost every day!!

[Schneider79]

..... I disagree

 

I want people to rush in and buy cars .... so that there will be many 2005 cars in 2007 for me to choose from

 

Just a thought...if COE in 2006/2007 goes back up to 30K region, prices of new cars also go up. E.g. assume new 2007 corolla = $75K. A 2 yr old model bought in 2005 for $58K would likely be able to sell for $50K then. That effectively means the guy buying now will only pay $4K depre per yr to use the car for 2 years ??

 

Of course, the above does not consider the difference between sale value and paper value, the 2007 one having much higher paper value as COE higher. But...between 75K for new and 50K for 2 yr old...which do you think most people will choose?

 

Bro... you wait long long. If this senario really happens. Those who are holding the low COE cars are unable to sell. The price will be pegged towards the paper value. It makes no sense to buy a corolla with a paper value of just $25k at $50k whereas a new one is $75k. The used one for those low COE will likely to sell near $40ks region. Because of the trap sprung within these years for those COEs at $101, $50 and $12888. Once bitten, twice shy.

 

Today's problem is that the cars with high rebate and high COE under CAT A are worth to scrap. If you calculate carefully, the 02/03 cars holds more value then today's cars as you can scrap the car as you want to instead of selling it into the used car market. Even for 03 VIOS are scrapping and not on used car market anymore. That is the advantage for owners to change car. The purpose of having low COE is for every single singaporean to be able to afford to buy a new car and be stuck with it until it rots or you find someway to sell it off.

 

People used to have a $300k car per household. But today, $300k can buy 4 used conti or at least 5 new CAT A cars per household. Increase traffic will increase the coffers for the gahment.

 

Once we cross December and the COE maintains on this level. Even 55% PARF(04/04) cars like fit/corollas/civics will have to go for export... the body value is worth 10k...

[Kanr]

sad news to hear,bro!!!

[Schneider79]

why sad? i thought is good news. New car is so cheap. Everyone is going for the new smell.

[Kieran1975]

Hi,

 

Need your expertise advise is this the right time to change my ride or should i hold on to it for another 1.5 yr (5yrs)?

 

Current Ride

-Toyota G9 Mar 2002.

-Scrap now SGD 45K (paper + body).

- Loan: cleared.

 

Thanks.

[Fortress]

Yes, absolutely. In the first place, they are "Eating Grass". There is nothing much we can do about such situations, prices go up and down. I have a 3 year and a 8 year old car, you learned to accept it, unless you have in mind to sell it in a year or 2, without thinking about their interests, then your statement stands again....sad...isn't it. Seen a few youngsters went into major debt due to this....silly..

[Neoscan]

Bro... your paper + body already $45k

 

Top up $10k u can new car for next 10 years

 

why not????

[Schneider79]

There is never a right time to change a car... It's really up to yourself.

 

All i can say that the car body will worth more if it's less than 4 years old.

If you think that you are losing too much on the car, then continue to drive.

If you think that there is a model which you like and wishes to try. Then go for it.

 

It all comes down to the spare $$$ to burn.

[Kieran1975]

1) so how much lesser if i trade in my car after the third year? Currently PI quoted 7K for my mar 2002 G9 body.

 

2) If I drive my G9 till it scrapped, the yearly depreciation is $6K exclude interest.

 

3) If I get new Jap 1.6L Car (Altis or Civic) the yearly depreciation ikely will be around S5K exclude interest.

 

So... is it really worth to change?????

[Schneider79]

The body value will keep getting lesser and lesser as the age of the car.

After 4th year, the car cannot go to quite a number of places... so the price will be lower.

 

It's whether you wish to lose $30k within 4 years and is it feasible to do so or not.

Yes the new altis is around 5.5k depre but you wish to change or not? Do you like the current models or you prefer the one you're holding.

 

If your car is showing problems then change lor. If not still can drive, then continue to drive.

[Kieran1975]

Thanks for your reply.

How does the exporter/dealer calculate the age of the car? year of manufactured or date of registration?

Actually there is few reasons why i want to change my ride :

1) backside itchy

2) want to maximize my paper value.

3) found a new 'love' Toyota Wish but not sure whether is it worth the change?

 

Probably will change it after CNY as i do not want to join the crowds during this period (saw alot of peoples at the show room the last few days).

[Lucien]

u know wat i think?

Gahmen should scrap this stupid COE scheme long long ago!!!

Why would any1 pay for a license to own a car? Doesn't make sense!!!!

Especially when they want us to pay rd tax, erp, parking....etc.

[Schneider79]

Date of registration. But date of manufacture play a part for pricing for the vehicle.

 

hahahha backside itchy pocket overflow then change car...

Wish is a good car. Given such a big car and depreciate only $6k.

FC not bad also. Facelifted model is out... maybe scout around and see which PI gives you the best deal for the body and paper.