Overseas for 2 years - what to do with my 1 yr old latio?

[Vextan]

Actually, wrong!

 

You've obviously never been posted overseas before. If the TS got his negotiation hat on, he would've asked for daily allowances and accomodation and transport all covered. So in affect, you will spend $0 of your salary, you just survive on the daily allowance, which is pretty generous depending on your negotiation skills.

i have worked in states with Sybase for over 2 years in new hampshire and with aia in hongkong for a short stinct. the overseas allowance is never enough to fully cover overseas expense. recently my current cmpany offered me a chance to go to states and attach with HP for 3 to 6 months i turned them down. going overseas is never a pot of gold, else everyone will jump at the opportunity.

[Gendut]

convert car to opc cannot enjoy the 17k rebate la ... get the facts right.

 

I did not state that he will get $17K. Read again and comprehend.

[Little_prince]

ya lor... nowadays no more expat package.... only give you a flat sum allowance that is never enough..

[Windchoco]

convert car to opc cannot enjoy the 17k rebate la ... get the facts right.

 

In any case 1 will still enjoy the prorated 17k , when u scrap car right? no ?

[Sabian]

Was in a similar predicament as you.

So 2 questions for you. How often are you coming back and when you are back, must you drive?

 

Otherwise, option 1.

[Hjteo]

In any case 1 will still enjoy the prorated 17k , when u scrap car right? no ?

 

Can still enjoy the OPC pro rated rebate, it goes into the scrap value. Reverting back should not be a problem, just need to confirm if can use rebate given earlier with LTA.

[Bigg]

what the hell...

[Sterrier]

Thanks all for the adivce. Took option 1 and sold my car.

[Kungming]

Thanks all for the adivce. Took option 1 and sold my car.

 

Wah seh, considering the low prices of new cars, how much did u lose?

[MLS]

Hi Guys,

 

OT abit. I will be overseas for 2 weeks. Therefore my car won't be used.

 

Will it be ok after i come back? Must i do or take note of anything?

 

Thanks for replies.

[Silver_blade]

Leaving your car unused for 2 weeks is ok. Don't worry.

[Sio07]

convert car to opc cannot enjoy the 17k rebate la ... get the facts right.

 

Ya man. Whoever say you can net 2.2K obvious does not know the rules.

 

Govt will not pay you back in cash. Get the facts rite, you only get tax rebate....in tis sense....850 per year.

 

Bottom line :- You dun get cash back, you jjust pay less road tax and insurance. Period.

[Sio07]

Thanks all for the adivce. Took option 1 and sold my car.

 

 

Should have advertise here. You may get a better price selling to direct owners.

[MLS]

Thanks for your assurance. I thought it needs to warm up or something.

 

Ok i can put my mind at ease!

[Silver_blade]

2 weeks is not a long time. I have left my car idle for over 2 months and I could still start it after I return.

[MLS]

wow that is indeed long. I think i underestimated the capability of a car

 

ok i will remember that. Thanks!

[Dazzleboy]

Ya man. Whoever say you can net 2.2K obvious does not know the rules.

 

Govt will not pay you back in cash. Get the facts rite, you only get tax rebate....in tis sense....850 per year.

 

Bottom line :- You dun get cash back, you jjust pay less road tax and insurance. Period.

 

 

I think you should get your facts right first.

 

If you convert a normal car to OPC, you get S$2200/yr added to your PARF.

 

Refer below website for more details

http://www.lta.gov.sg/motoring_matters/mot...mes_offpeak.htm

[Schneider79]

Hi folks

 

Need to get your views. I have a 1 year old latio (registered in May 08), but will be going overseas for 2 years. So what do I do with the car? My options that I can think of are as follows:

 

1) Sell the car

Pros - Get the cash first. No hassle

Cons - Lose out in terms of depreciation. (Bought for $60k, indicative selling price for 1 yr old latio is around $45k, 3 year old selling for around $35k)

 

2) Rent out the car for 2 years.

Pros - Earn some rental income for 2 years and sell the car when I am back. Hopefully, rental income is more than $10k to offset the difference in the selling price in 1 year old latio vs 3 year old latio

Cons - Difficult to get (trustworthy) lobang. Higher risk, in terms of accident, insurance renewal, etc.

 

3) Let the car idle/lend to friends/relatives

Pros - Can use car when back during holidays

Cons - Lose $.

 

 

Only option 1 is available.

 

Dump the car to a car dealer at a lost. Rental is illegal and a mess. Imagine the fellow you rent to has problems in the near future. Cannot pay road tax, insurance, monthly installments and fines. All under your name. Pok kai liao.

Pass to your relative to drive? Just like car rental, what if your relative dump the car? Unless your relative has a stable income or very trust worthy.