Should I change my ride now?

[Wireless]

G9 is the last Japan made corolla that BM bring brought in, the later batches of corollas are all Thai made...

 

This model is also a trouble free and very very fuel efficient car , Honda Civic, no fight... Must agree that Civic got the look, power and nice interior... you will end up paying alot more for the fuel but lesser on the installment...

 

Altis are not as good or reliable as G9... think about it...

[Trex7764]

Having seen everyone's reply, now u all know why I am in such a dilema hor?

I love this car.

Financially I have no problem getting a new car, its purely economics and the way Spore government structures its taxes. My OMV drops quite significantly once the age passes 5 years. That means my annual depreciation would go up. What's more, the body value would also depreciate tremendously after 5.

 

As what many bros here mentioned, I am losing > $3,300 in COE alone per year.

Hell I bought this car at a staggering $81,000 back in 02. With that, I could get myself a 2 litre car easily today.

 

3 choices which I am presently considering, in terms of priority:

 

1) 1.8 FD Civic VTI-s (A) @ $76,000

2) PI Honda Stream 1.8 RSZ @ $75,000 or PI Wish 1.8 @ $66,000

3) PI Toyota Axio 1.5 (A) CVT

 

4) Dun change at all, hold out till 08 when the new China Corolla hits local market

[Char]

If you sell your ride now how much can you fetch ?

[Spchee]

$81,000 is nothing, compare to $90k that I paid for my Sunny

 

 

Have you finished paying your loan?

[Amazon777]

Your OMV is surprisingly high @ $18K+ for a 1.5 model. I believe those of the same engine cap and model from Sep 2002 onwards OMV is around $16K and lesser. My facelifted 11/2002 model OMV is only $15,901 and those 1.5 G9 from 02/2003 till 04/2004 OMV are around $15.3K, so u are consider quite lucky in some sense. I also paid the same price as u did, but gotten $15.9K OMV and $31K COE. Currently BM retail Altis OMV is only around $16K

Edited November 26, 2006 by Amazon777

[Trex7764]

Not worth selling. Scrap and export is the best option.

Paper value is around $33,000+ (OMV + remaining COE)

Body should be able to fetch >$5,000

Total around $38,000+

My outstanding loan is around $20,000 (including interest savings under rule 78)

 

If I were to change rides, I am thinking of topping up the $18,000 with another $7,000 or so, reducing the loan amount to around $50,000. I tot of taking only a 5 year loan, but most dealers quote a minimum of 7 year loan to get preferencial interest rate of 2.85. If I were to take 5 year loan, there will be a penalty of between $1,500 - $2,000 up front.

[Trex7764]

Bro, How much did the SE offer you for the body?

I heard XLi can fetch as high as $10,000?

That's what one of my frens got last year when he BER his 1.6 GLi

[Ahyoo2002]

Having seen everyone's reply, now u all know why I am in such a dilema hor?

I love this car.

Financially I have no problem getting a new car, its purely economics and the way Spore government structures its taxes. My OMV drops quite significantly once the age passes 5 years. That means my annual depreciation would go up. What's more, the body value would also depreciate tremendously after 5.

 

As what many bros here mentioned, I am losing > $3,300 in COE alone per year.

Hell I bought this car at a staggering $81,000 back in 02. With that, I could get myself a 2 litre car easily today.

 

3 choices which I am presently considering, in terms of priority:

 

1) 1.8 FD Civic VTI-s (A) @ $76,000

2) PI Honda Stream 1.8 RSZ @ $75,000 or PI Wish 1.8 @ $66,000

3) PI Toyota Axio 1.5 (A) CVT

 

4) Dun change at all, hold out till 08 when the new China Corolla hits local market

 

I would say depend on your needs, if can try to predict what is your needs in next 2-3 years, if possible, get a MPV like Stream RSZ which is more versatile. Anyway, the price of Stream is almost same as Civic but it is 7 seater. I think you will feel no much diff between driving a Stream compare to Civic.

 

So far, what I heard is that new Stream will be officially launch by KM early next year and can get car in around May/June time, just nice for you to scrap your car before July :)

[Fortress]

Cost of Driving doesn't make senses in Singapore.

 

Look into your own finances. What is the full settlement rate and compare it to your present price before you intend to jump into a newer one (got a manager of mine went bankrupt because of his BMW). Looking at it, you have paid up your finances charges, if any, and the rest is driving. If you are concerned about maintenance, then it is either you pay for maintenance in the form of outfront payment for a newer car.

[Zoom99]

Bros,

Need your expert advise.

I am currently driving:

 

Make: G9 Corolla 1.5 XLI (A)

Date of Reg: Jul 02(damn...missed the 130 OMV by 2 months)

OMV: $18,000+

COE: $33,009

Scrap body: $5,000-$7000

 

 

Come Jul 07, My car will hit 5 years old.

I am thinking seriously of changing to FD Civic 1.8 (A).

Question is....should I go ahead and change my ride? Or should I just continue maintain and driving the G9? Bear in mind this car has been serving me very wellfor the past 5 years with no problems whatsoever.

 

Thanks for your advises

 

I got the same car and make.

Cos COE so cheap I changed 4 mth ago.

 

Maybe air-con is going to spoil liao.

[Trex7764]

What car did you change to?

This is my first option if I decide to go for it.

[Spchee]

Not worth selling. Scrap and export is the best option.

Paper value is around $33,000+ (OMV + remaining COE)

Body should be able to fetch >$5,000

Total around $38,000+

My outstanding loan is around $20,000 (including interest savings under rule 78)

 

If I were to change rides, I am thinking of topping up the $18,000 with another $7,000 or so, reducing the loan amount to around $50,000. I tot of taking only a 5 year loan, but most dealers quote a minimum of 7 year loan to get preferencial interest rate of 2.85. If I were to take 5 year loan, there will be a penalty of between $1,500 - $2,000 up front.

 

I booked my new car during the recent car show, Tan Chong still offer me an

interest rate of 2.85% even though I ask about taking a 6 year loan. The dealer did

not mention anything about penalty for 5 year loan. I change to a new car when I still have about 1 year of my loan left (which is about $8700).

 

My advice is driving in singapore is never cheap, so no point spend so much on big cars

eg. MPV unless you really needs it and you can afford it. By the time you almost finish paying your loan, it is time to change you car, as the problems starts to kick in (eg.

radiator spolit, air-con problem, alternator problem). Spending money on these repairs

are also not very cheap, that's why most will try and change to a new car. I would not

have wanted to change to a new car if not for my vehicle which incurred quite a repair

bill after some of the parts has reached its life span.

 

Petrol price has really increase since the time when you and I bought our vehicle. This

is another $$$ concern. There's alot of other issues like this (petrol consumption) that you should think about when changing to a new car.

 

I hope I am not adding to your woes, but just offering my advice after what I

have experienced

[Roh96]

Actually repair cost is still lower than changing to a new car. The problems u mentioned at most cost $1K+ to rectify. By changing to new car, your loan reset again with another 6 yrs.

[Zoom99]

I decide on Latio.

Main reason: Value for money car

 

Before making this decision, I shortlist Civic and Latio.

The general price diff is $20k, Civic cost much more.

Finally I am not prepared to pay KM that kind of exorbitant price.

 

Just wanna be debts free in a shorter timeframe.

[Guest Julio369]

Right!

 

To a mechanics, as long as the car body alignment is not out, any parts can be repaired or replaced, just the question how much $$$ to repair.

 

My advise is if your current car serve you well, then drive all the way....wear & tear is inevitable... best if reach 10th year and if COE still cheap, extend another 10 years!you never know the next car may not live up to your expectation.

 

If we all keep thinking of changing car every 5 years, then we forever in debts with little savings when reach 55 years old.

 

But then, drive old car like no face leh, die die must show our relatives, neighbours, colleague we got super status...

 

btw, my G9 is 6 years old, "damn malu".

[Sunrise]

My fren

 

Your COE is quite high, at $33k. This means that COE is costing you 3.3K per year, compared to current cat A COE if 1.3K p.a. This is already a difference of 2K p.a. If you scrap your current car, then buy a used one-year old car with low COE, the savings from COE alone would be substantial.

[Zyrofillica]

u can keep on upgrading ur car to make sure it doesnt look old ma. Only the number plate will reveal it thru age. proper maintenance. respray your car. reupholster. maybe change the rims and do a overhaul of ur engine. change lights to hid, replace rubber seals. no one will be able to tell its an old car without looking at number plate. unlesss.... its a old beetle.

[Guest Julio369]

Although COE is 33K, isn't it this is the very price the buyer willing to pay when we book the car?

 

What happen if we now book, then COE drop to 5K, PARF drop to 80%, etc. change car again?

 

if we keeping following the trend because of lower price car, than forever we need to change car, there's no ending.

 

There are many hidden cost that are not very visible when buying new car, like interest rate,new loans, penatly for early settlement, higher insurance, higher agent servicing, paper+body value calculation and yes, scare car kenna scratches.

 

I guess the ony people very happy to see us changing car are - banks, car dealer, and garmen. can imagine the amount of money are flowing out from our pockets to their hands?