OPC or Normal --- New or used Car

[Wonsim]

I am based overseas currently but will be relocated back to sg next week

 

haiz...Need to buy a car again (sold off my Altis when I left sg and loss almost 30K over 2.3 years ) and been having discussions with CO over car purchase. Btw, I have 2 kids and a domestic helper.

 

OPC vs Normal

I personally prefer an OPC since my office is in town area and too expensive to drive to work. Moreover, I need to travel almost 2-3 times/month so I dun see the needs to have a normal car and park it at home most of the times.

 

CO prefer a normal car as this allow her to use the car during daytime if the needs arise, although she herself also admit she won't use it too much. Her main argument is that OPC only can use after 3pm on saturday which is too late since my elder daughter will be attending some enrichment class on Saturday at 3pm. She said "why get a car when we can't use it when we need it"

 

New or Used

 

Both myself and CO agreed to get used car, be it normal or OPC car.

 

1st, we not too sure how long we gonna keep the car and who know I might get another overseas posting in few years time.

 

2nd, we would like to minimise car loan, or lagi better, dun take loan at all if possible. We still have about 25-30K cash balance from the sales of the Altis.

 

However, my only concern is that if we decide to get OPC used car, I will loss out on the $17K upfront cash rebate. Is my thinking rational? Is there any difference in gettinga new OPC or a used OPC, say 2-3 years old car.

 

Who Want to Sell

Lastly, anyone here selling their ride, preferably 2-3 year old. Any model also will consider as long as can sit 4-5 pax comfortably. so smaller car like picanto, getz is out. Sorry, no cheena car too. I'm not those really into car performance, handling etc etc and as for fuel consumption also not a top priority since I will not use it everyday.

 

I am trying not to buy from dealer since their mark-up is crazy. Prefer to buy direct from owners.

 

Thanks all....please kindly advise and comment....kum siah mak mak..

Edited April 10, 2008 by Wonsim

[Notsoblurr]

I prefer new car than 2nd hand car:

 

1) the car is still under warranty

2) peace of mine due to it is still new and will most propably without trouble for at least 2 years.

3) Accident free

4) Save the transfer fee of at least $500 for 2nd hand car

5) New car dealer pay for 1/2 year road tax and registration fee

6) 2nd hand car need to pay road tax again in less than 1/2 year

[Galantspeedz]

1) the car is still under warranty = exhorbitant servicing bills

2) peace of mine due to it is still new and will most propably without trouble for at least 2 years. = nowadays new cars also alot problems

3) Accident free = old car can also be accident free

4) Save the transfer fee of at least $500 for 2nd hand car = much lower depreciation penny wise pound foolish?

5) New car dealer pay for 1/2 year road tax and registration fee = incorporated to sale price already

6) 2nd hand car need to pay road tax again in less than 1/2 year = not necessary, some renew road tax 1yr

[Galantspeedz]

1) sgcarmart do have direct sellers

2) the reason a used OPC sale price is low is because the discount is incoporated inside. you dun lose out.

3) GE Money does auction its cars on sgcarmart. can try to bid. can get a much lower price. but the disadvantage is you can't test drive the car so you got to pray the car is well. Advice. get those 1-2yr cars, believe not much damage will be done

 

http://www.sgcarmart.com/main/info-2Eni5pq4-1249.html

 

http://www.sgcarmart.com/main/info-2EilYrtg-1166.html

 

http://www.sgcarmart.com/main/info-2AfY4Su4-1198.html

 

http://www.sgcarmart.com/main/info-2E0N8cQS-1232.html

 

http://www.sgcarmart.com/main/info-2EYQhp7B-1133.html

 

http://www.sgcarmart.com/main/info-2EQrMuMy-1000.html <-- direct owner

 

http://www.sgcarmart.com/main/info-2AAMwTCz-1000.html <- possible direct owner

Edited April 11, 2008 by Galantspeedz

[Yaloryalor]

I suggest 2nd hand normal car for you/ your family.

 

OPC is quite inconvenient as you need to follow the timing else pay extra when driving.

 

Not new as you mentioned you may be posted oversea again, the 30K loss..

[Wonsim]

Thanks for the advise.

 

I tried the recent GE Money Auction for th OPC Honda Stream and Hyundai Avante but failed miserably. The final price was way much higher than what I had bidded

 

I asked my sg supplier to go down and take a look at the auction cars for me before I placed my bid and I am okay with no test drive. Most of the cars are pretty new anyway.

 

Anyway, normally how long will GE have another round of auction?

 

Haiz...buying car is alway a headache

[Galantspeedz]

it depends on how often they repossess cars but if i rem correctly, it is once a month or once every fornight.

 

Auction cars are cheaper but dun quote ridiculous prices lar...... the way to go about bidding would be... look at the car you are interested in, call a few dealers say you want sell the 'interested car' ask them how much they take it in for. And maybe add 2-3 above what they quote you and you should be able to get it.

 

buy car headache, sell car heart pain

[Wonsim]

If I to show my CO what you suggest about getting a normal car, she will be very happy and say stuff like..." I told you so" blah blah blah...

[Scoop]

2 cents opinion,

 

Why consider a 2nd Nissan Sunny ?? they are like going for $34 - $35K dep is below 4K a year

 

Not much prob except FC abit the high like 10 per litre..

[Yaloryalor]

haha..

 

If you search around, a 2 years old Mazda 3 is selling about $45K or a 3 years old Lancer is about 36K; reasonable!

[Wonsim]

wow...I thought should be once every 2-3 month, since each time auction has around 20-30 cars.

 

KNS, if 2 weeks to a month 1 auction, then many pple so jiat lak menh

 

Ok, will keep a look out for next auction. Thanks

[Wonsim]

bro, your $34-35K sunny is how many year old car?

 

I know about Sunny FC but no big issue on that since I'm not doing sales, not heavy user.

 

Just that never really like Sunny, most probably coz of the name but dun really mind to own one since budget is the top most concern. Dun want to keep losing big $$ on cars...sucks

[Wonsim]

I've been searching sg car mart everyday for the past 2 weeks and yes, saw many lancer/M3 on sales.

 

Anyone still remember / can share the Lancer new car prices 2-3 years ago. If I remember correctly, it should be quite low around $45-$48K. Thus, if 3 year old selling at $36K, sound not that attractive leh.

 

But I understand we need to check the paper value right..and normally when we sell, dealer will take in few k above paper value. But when buying used car from dealer, average prices quoted should be 10K higher than paper value.

 

Am I right?

[Scoop]

those abt 3 years old..

 

ha ha not many people like it too.. uncle car

 

 

http://www.sgcarmart.com/main/info-2AOWT0dy-1210.html

 

http://www.sgcarmart.com/main/info-2Iti2qni-1004.html

 

http://www.sgcarmart.com/main/info-2ELK0M1w-1202.html

[Galantspeedz]

Can i charge for consulting?

 

it depends on your paper value - (discount rate) + body value.

 

 

so you should not compare solely on prices. but the difference between in price and paper value as well as depreciation.

 

especially for you, which may sell the car anytime, getting a car close to paper value is good for you as you can calculate and minimise your depreciation.

 

Those tell you get new car, can ask them fly kite, if you sell the car in 3yrs time, you gonna lose alot of money. they only care about new car but not overall circumstances and value.

 

Anyway, just curious, have you consider eurovan? it should fit all your eneds perfectly as well as your budget and it is normal plated with no time restriction. Just an alternative for your consideration

Edited April 11, 2008 by Galantspeedz

[Geboz]

Have you ever thought of getting a 2001 car with $101 COE ?

 

On an average, these cars (typically 1.6 Jap car) cost less than 30k, and the depreciation per yr is just over 3k/yr. You can easily make a one-time payment with your cash on hand.

 

Compared to a 2-3yr old car, although their depriciation is also around 3K+ per year, but that's base on stright line depreciation till the car is scrap at 10yr. If you intend to sell you car after a couple of years, what you will get from dealer will be only the paper value + a few K.

 

For instance, let's say you buy a 2 year old car now at 40K, and you decided to sell off 3 yrs later when the car reached 5yrs.

 

The paper value will be based on your unused COE + PARF, let's say this is 20K. Dealer may quote you 2K for the body, and in total you take back 22k.

 

So for 3yrs of usage, you lose (40 - 22) = 18K, or 6K/yr.

 

If you need to take up a loadn then together with the loan interest + early redemption penalty, this may come up to ~ 7k/yr.

 

So my point is, if you don't mind an older car and don't want to lose too much money on owning a car, then go for a 2001's car with $101 COE.

 

** above figures are for illustration only, may differs from actual figures. Pls don't flame me.

[Hiphiphoray]

I've been searching sg car mart everyday for the past 2 weeks and yes, saw many lancer/M3 on sales.

 

Anyone still remember / can share the Lancer new car prices 2-3 years ago. If I remember correctly, it should be quite low around $45-$48K. Thus, if 3 year old selling at $36K, sound not that attractive leh.

 

In Oct 2005.

 

The lancer costs 57k for a normal version. 59k for a sports version.

[Hiphiphoray]

Dont mind i ask.

 

For this resale Mark-X @ 77k.

 

http://www.sgcarmart.com/main/info-2ItL1qAN-1189.html

 

If i kill it on its 5th year, 8th year or full 10 years.

 

How much can i get back har ?