Thanks to COE, i earn $12k in 2mth

[Vextan]

for every 10k increase in COE price, my odyssey 2.4a is worth ~$4k more in the resale market!

 

very easy to calculate (new odyssey OMV is currently 36k)

 

when COE 26k, a brand new odyssey cost yearly depreciation 10k -> a used 4yr old odyssey 2.4a ~60% of new price = 6k yearly depreciation

when COE 36k, a brand new odyssey cost yearly depreciation 11k -> a used 4yr old odyssey 2.4a ~60% of new price = 6.6k yearly depreciation

when COE 46k, a brand new odyssey cost yearly depreciation 12k -> a used 4yr old odyssey 2.4a ~60% of new price = 7.2k yearly depreciation

 

so u see every 10k increase in COE price = $600 more depreciation per year for used car -> a 4yr old car with 6yr COE left will cost extra $600*6 = $3,600

 

i bought my odyssey when COE was 16k => yearly depreciation 5.1k

now COE 46k, my gain = 6yr * (7.2 - 5.1) = $12k!!

 

i bought at 45k just 2mth+ ago, and now i can sell it for 57k

comparing a brand new odyssey selling close to $138k now, i think $57k is a very good price for a 4yr old car right?

 

(dont tell me about selling high and buying high... i am happy to hold the extra paper value for now, but if COE breach $80k, i will consider selling)

 

you are so naive.

[Joseph22]

ya but i am happy to see the increased paper value of 12k in just 2mth

 

sorry you paper value did not change. paper value is Scrap Value.

 

What you gain is Resale value nia.

[Twinturbo83]

Haha ya brother every morning have to wake up early early to catch bus and train! LOL!

I bought the car actually is abit rush coz i was like seeing the COE keep raising while i was checking out the cars in sgcarmart.

It was like starting early march i see alot of 06 cars like lancer and impreza selling under 30K, then suddenly because of this COE thing

the price all shoot up to 35k!!Then i scare liao coz juz gt license sure wanna drive mah so i get the car from this agent.

But since if i can sell my car again at no loss i wont mind taking public transport again coz i already enjoy the ride and for economical reason

i still think taking a bus or train is ok.

So brothers i just asking whether issit possible to sell at no loss? or maybe a little loss ?

[Nimm12]

you are so naive.

 

 

calculations verified with used car dealers' prices

[Tigerwoods]

for every 10k increase in COE price, my odyssey 2.4a is worth ~$4k more in the resale market!

 

very easy to calculate (new odyssey OMV is currently 36k)

 

when COE 26k, a brand new odyssey cost yearly depreciation 10k -> a used 4yr old odyssey 2.4a ~60% of new price = 6k yearly depreciation

when COE 36k, a brand new odyssey cost yearly depreciation 11k -> a used 4yr old odyssey 2.4a ~60% of new price = 6.6k yearly depreciation

when COE 46k, a brand new odyssey cost yearly depreciation 12k -> a used 4yr old odyssey 2.4a ~60% of new price = 7.2k yearly depreciation

 

so u see every 10k increase in COE price = $600 more depreciation per year for used car -> a 4yr old car with 6yr COE left will cost extra $600*6 = $3,600

 

i bought my odyssey when COE was 16k => yearly depreciation 5.1k

now COE 46k, my gain = 6yr * (7.2 - 5.1) = $12k!!

 

i bought at 45k just 2mth+ ago, and now i can sell it for 57k

comparing a brand new odyssey selling close to $138k now, i think $57k is a very good price for a 4yr old car right?

 

(dont tell me about selling high and buying high... i am happy to hold the extra paper value for now, but if COE breach $80k, i will consider selling)

 

You only dug your own grave here.

If anyone of us see a CATS Ad for a 4yr old Ody selling $57k

We all Boycott don't buy.

We will buy @ $45,0001 or you sell to dealer Scrap + Body @2k..

[laugh] Good Luck to you !!!

[Roh96]

Congrats on your paper gain. I suggest u lower your expectation...if COE hit 60k better sell and take profit. To reach 80k may take a while...maybe another 1-2 yrs time and by then your car already 6 yrs old. By then do you think a 6yrs old car can sell for 76k? The COE rally is slowly loosing steam, the no of unsuccessful bid is getting lower which mean lesser backlog and buyer. I don't believe it will hit 80k...i think we will see a correction once the backlog is cleared.

[Beehive3783]

just go any used car dealer ask what is the current used car price compared to just 2mths ago

i have already done that, its $12k on top of what i paid 2mth ago

HUAT AH!!!

I bought my car in 2009 Jan, $39K. Now the same model selling $62K.. so how?

[Tigerwoods]

COE should drop back to <$30k when supply back to 2004~2009 level

dont ask me when , ask LTA

they are the ones who created this circus

 

for me, my target profit is $30k cash

that should happen when COE hit above $80k

 

as for now, i am happy to see my car appreciate 12k in just 2mths

 

Did you pay Cash for this ?

If you loan $30k your Bank will eat your interest in the 1st year = $3.75k +extra charges = $4k(base on 5yr loan @ 2.5%)

If you really sell $57k you get only $8k.

 

[Nimm12]

I bought my car in 2009 Jan, $39K. Now the same model selling $62K.. so how?

 

 

 

congrats to you pot of gold

you just proved that prices of used car appreciated ALOT in the past 2mth!

[Nimm12]

You only dug your own grave here.

If anyone of us see a CATS Ad for a 4yr old Ody selling $57k

We all Boycott don't buy.

We will buy @ $45,0001 or you sell to dealer Scrap + Body @2k..

[laugh] Good Luck to you !!!

 

 

haha

last check of used car prices today - compared to 2mths ago when COE <20k

large car UP $10k+ !!!

small car UP $4-5k !

[Freestylers09]

i tot COE goes along with the price u bought?

 

only u can earn if some fools willing pay higher over the paper value u have

 

is it ? maybe i sala.unless Open Cat?

[Roh96]

congrats to you pot of gold

you just proved that prices of used car appreciated ALOT in the past 2mth!

 

 

Ppl's car only 1 owner plus the same model still selling in showroom. Yours is old model plus at least 2 owners and already 4 yrs old. Can compare meh?

[Leepee]

Wah my BMW also appreciated in prices leh.

Luck I bought it early.

If COE hit $100k, I will sell it for a profit.

 

I love this gov which created this miracles that can only happen due to their great leadership.

Property HUAT big big for my parents.

Stocks market also HUAT big big for many citizens.

Now Cars also appreciating HUAT big big for the 700,000++ car population in Singapore.

 

Everyone in SIngapore is now in Hyper super duper inflated rich status!

How not to love this country of Uniquely Singapore!

 

 

HUAT AH once again for SIngapore

[The_Bear]

calculations verified with used car dealers' prices

 

Limpeh holding a UNREGISTERED CAT B at $18k also never say anything. You come here and sell Koyok?

 

Limpeh no loan, no registration, no need do anything already make around $30k (PAPER VALUE), then wat?

 

Limpeh still holding on to my current ride (2, if you like to know) so I can sell high and QUIT.

 

Buah Koyok.

 

c.c Leepee <- Edited after reading your post.

Edited April 8, 2010 by Bavarian

[Branteo]

his pea brain that's stuck in his farking rectum wun understand one.

 

keep saying he earn 12k liao blah blah blah.

 

then later say COE hit 80k then will earn 30k

 

i think we put him a challenge lah. if COE hit 80k, he sell and show us he earn. if dun hit 80k, he can hold on to his cheeby ho di si until scrap and still earn nothing.

 

knn come here hao lian, go property forum also hao lian got duno how many fark property he have.

 

He meant he is now sitting on paper profit of $12K - which can be realised anytime (so long as the COE maintains the surge).

 

It can be translated into actual profit - should be should to sell now, and adopt the Bus-Mrt-Walk lifestyle, ie. Not involved in the sell-high-buy-high scenario

 

My ride's (Cat B) COE was about $12K in early 2007. And it's resale price, which also equates the dealer buy-in price, is incremental since the Authorities initiated the squeeze on no. of COEs, hence the spiral surge in COE prices.

 

You can easily track this said trend.

[So_nice]

to earn $$ from this is pretty complex to be frank. u have to see how much outstanding finance u haf wif the bank. deduct here and there then u get the actual gains (if any). if u NEED a car, by selling ur current car probably wont get u any significant profits.

 

unless u got 2 cars, where 1 of them is a need while the other is a WANT.

 

or, u fully paid up ur car and is looking go public

[Nimm12]

i tot COE goes along with the price u bought?

 

only u can earn if some fools willing pay higher over the paper value u have

 

is it ? maybe i sala.unless Open Cat?

 

 

some people dont understand what is resale car price

it is not just paper value

its market value (market sentiment)

ask any used car dealer why they can sell their used cars at market value, which is ALOT higher than paper value

because buyers do not only look at paper, they look at body value as well

if new car prices so high now, buyers may consider used car and willing to pay high body value over the paper value

this make up the market value of a used car

end of the day, the market value depreciation is still ALOT lesser than that of a brand new car

again, if you have doubt, just ask any used car dealer

used car depreciation can be 60 to 80% of a new car depreciation

Edited April 8, 2010 by Nimm12

[So_nice]

Wah my BMW also appreciated in prices leh.

Luck I bought it early.

If COE hit $100k, I will sell it for a profit.

 

I love this gov which created this miracles that can only happen due to their great leadership.

Property HUAT big big for my parents.

Stocks market also HUAT big big for many citizens.

Now Cars also appreciating HUAT big big for the 700,000++ car population in Singapore.

 

Everyone in SIngapore is now in Hyper super duper inflated rich status!

How not to love this country of Uniquely Singapore!

 

 

HUAT AH once again for SIngapore

 

tamiya cars dun need coe..

 

tamiya cars dun need coe..

 

tamiya cars dun need coe..

 

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