COE Crashed

[Exit]

change lah! change lah!!

 

anyway you are rich!

[Erikkson]

my car is 2 months old

bought the COE at $16k

didn't take loan

is it advisable to trade in my car? Thanks

[Ice34_y2k]

I think just wait and monitor the car price... think most dealers will make sm adjustments here and there but not much about the pricing... coz they oso wanna monitor the situation 1st. But can look forward to more freebies and promo packages... like those gog on at C&C for Mitsubishi and KM.

 

C C look look first loh...

[Crazy_turtle]

ERIKKSON

 

Wow, 2 months want change car liao ..... didn't take loan sum more .... u very rich izzit? So, who says ecomomy bad?

[Silver_blade]

Not worth for you to sell your car and get a new one. Cos the diff between your car's COE and the current one is only $5k. Your car's depreciation is alot more than $5k.

Edited October 5, 2005 by Silver_blade

[Silver_blade]

Looks like the COE is really falling. It may hit the 1992 mark of $6k. That was what my mum paid then. In fact she only paid $3k and the car agent topped-up the rest...cos that was the norm then......agent top-up the diff.

[Silver_blade]

I also think you should forget about the $1k and cancel the deal. As long as you have a car regisitered under your name, you can still back out of the deal...cos most of the time, the COE is not secured under your name.

[Scenium]

Those who bought at high COE, already drive up at least for 4 years, paid loan fully or left not much loan then worth it.

[Erikkson]

Wow, 2 months want change car liao ..... didn't take loan sum more .... u very rich izzit? So, who says ecomomy bad?

 

not rich lar...just a basic car

am interested to know is the (2-mth car depreciation + 2-mth COE) < (16k - 11k) ?

 

if the depreciation is less than the drop in COE prices, then might as well trade in and get a new car and not top up too much right?

[Erikkson]

Not worth for you to sell your car and get a new one. Cos the diff between your car's COE and the current one is only $5k. Your car's depreciation is alot more than $5k.

 

well yeah, my car's depreciation is $5k/yr, my COE depreciation is $1.6k per year.

 

but my car is only 2 months old...so it should only depreciate 1/6 of that right?

 

then the total depreciation should be around $1k, whereas the drop in COE is already $5k

so if I get a new car now, won't it be a good thing?

[Vit4wd]

Just hope there will be furthur reductions in import duties by next April.

 

LTA already confirmed to release more CAT A COEs in coming April. So, another round of decrease by April?

 

 

 

 

If everyone can predict when COE will be at its lowest, we'd all be fortune tellers.

 

Just buy at the price you feel comfortable and enjoy your ride

[Acemundo]

i think the deposit not matter what is not forfeitable, unless they are already book a car in ur name.

 

i hv got friend successfully take back the deposit after some wrangling.

[Silver_blade]

That's on paper. But in reality, will dealer or buyer buy your car at $5k depreciation/yr?

[Acemundo]

good pt.

 

i think car owners that bot 1st hand car during the last 1 year or so can forget abt thinking they can cash in the current coe drop, even if fully paid by cash

 

need another 2-3years before it is worthwhile.

[Erikkson]

well I am not sure thats why I am asking around

thinking of trading in at the dealer

btw I just checked my rebates

 

OMV: $12,317

PARF Rebate: $10,161

COE Rebate: $15,687

 

 

Total is $38,165. This is the minimum amount I should be getting if I trade in my car right?

[Erikkson]

good pt.

 

i think car owners that bot 1st hand car during the last 1 year or so can forget abt thinking they can cash in the current coe drop, even if fully paid by cash

 

need another 2-3years before it is worthwhile

 

hmm why is that so? cos my car is about 2 months old only...so I assuming the depreciation is 1/6 of the yearly depreciation?

[Acemundo]

bro,

 

car dealers don't take in ur car this way

 

if say ur car is sunny and first hand sunny now drop to 4.8k depn per year, they will only take in ur car at say 4.6k depn per year - 3k (say)

 

if u work ur sum this way, you will know that the amount you lost is not just 1/6 of 5k

[Civic155]

Once you drive the car out of the company, your car value drops by 40%. You can calculate it by using the formula = (0.85 x OMV) + (no of years of COE left) + car body value = total car value....

 

PS: The OMV part maybe not so accurate.