COE Feb 2012 First Bidding

[Forrestcat]

anyone agree?

 

Bro, it depends on what make is the car leh....

[Mllcg]

Bro, it depends on what make is the car leh....

 

ok.

 

we compare now.

 

toyota VIOS: assuming u buy now, it will cost about 100k(all in)

 

when 10 years come, assuming the COE doesnt drop, pay 60k PQP.

 

6k depreciation/year.

 

a new car THEN, toyota, would easily cost about 120k. inflation+exchange rate fluctuations.

 

Mercedes benz(cat B): total now, 200k.

 

10 years down the road, cat B will cost maybe 70k PQP

 

depreciation of 7k/year. vs a new merc that can easily be >10k/year.

 

isnt it cheaper?

[13177]

my friend bought his brand new altis in 2009 just $51k only

Altis during that time got price at $51K? So cheap! Thought altis price is around 55-60K?!

[Samshio]

anyone agree?

 

of course given that new cars include profits to dealers+taxes to government.

 

However, you need to maintain your car well for cars > 10 years. and to prevent itchy fingers :)

[Cars08]

Cheap COE cld jus be a thing in the pass given that there is a need to reduce congestion n the only way is to make driving more expensive pushing at least 10% of the current car owners to consider public tpt instead

Whilst reducing the amt of loan allow could be one avenue but bear in mind there could be quite a handful of them that take minimum loan or no loan at all. Hence, a 30% down payment may not be an effective deterrent afterall....

 

Making car ownership expensive could be the way to go even though it creates great unhappiness amongst many. Well, if you really want to own a car, 2nd hand mkt can be your consideration but bearing in mind that it will be just a matter of time that they too will have difficulty getting rid of the newer 2nd hand over the next few years.

 

If you really need a car, consider your budget carefully and be prudent. Never go for 100% and in fact I would even discourage a 70% at current climate. A comfortable loan amount would be 30% to 50% and loan tenure kept to 3-5 yrs maximum. This is just a rough est. but you should calculate your sum wisely....

[Heng51]

I remember when the COE was 30K and my friend bought a car, i thought my friend went crazy! COE 30K so expensive! Now then i know my friend so lucky, and barely less than 2 years and the COE became 52K!

 

I changed my car in Mar 2010 when COE was $20k... There were people then who said COE at $20k was expensive

[Mustank]

anyone agree?

 

Bro, i support you!!!!! Renew coe!!!!!! Dont scrap!!!!

[MrFlax]

anyone agree?

 

there is no right or wrong answer

 

but i disgaree, because:

 

1.) I will lose the 55% of ARF rebate if renew COE, depending on car make, can be quite substantial, even as high or higher than current COE < financial factor >

 

2.) I will be driving a relatively very very old car around, seldom see cars more than 10 years old in SG, < face factor >

 

3.) I cant stick to the same car for too long, sure will butt itchy, especially after 10 years already < butt factor >

 

but everybody will have different thinking

[13177]

I changed my car in Mar 2010 when COE was $20k... There were people then who said COE at $20k was expensive

20K COE confirmed expensive if you compared with 1K COE!

[Chongster]

Bro, i support you!!!!! Renew coe!!!!!! Dont scrap!!!!

 

it really depends on the car's condition. if car can drive another 10 yrs, why not!

 

the renewed coe car price would be (i) loss of paper value + (ii) renewal price. Add together how much divide by 10, factor in additional road tax and estimated maintenance costs and probably very very little resale and think very hard lor.

 

also if COE at 70k, possible to get loan just to renew COE?!

[Steptronic]

ok.

 

we compare now.

 

toyota VIOS: assuming u buy now, it will cost about 100k(all in)

 

when 10 years come, assuming the COE doesnt drop, pay 60k PQP.

 

6k depreciation/year.

 

a new car THEN, toyota, would easily cost about 120k. inflation+exchange rate fluctuations.

 

isnt it cheaper?

I have a different view to it. I would recommend an used Vios at the end of 10 years.

 

Assuming the case of Vios just for easy comparison. At the end of 10 years,

 

1) Paper value you get back from your Vios - 15k (based on old PARF)

2) PQP to be spent on your Vios - 60k

3) Paper value of the new used Vios - 10k (based on new PARF)

 

I would just add all the three above and buy a 85k Vios (probably you would get a 2-3 years old Vios on the basis of 120k new Vios).

 

The advantages are you get to drive a newer version Vios (assuming that you do not buy a Lemon). The risk of getting an unknown used car would offset the maintenance you required to do on your 10 years plus Vios.

[Fitmugen]

This is true to an extent. However, the new car premium is not only the dealer margin but the extra years of warranty you're getting with a new car. I benefited about 30k after depreciation for my 2yr old Mazda6 even though COE difference was only 50k. Bought for 90k and sold for 100k. And this is after doing 45k kms mind you. I won't account for depreciation to cover mechanical wear and tear. That is an unknown risk all 2nd hand buyers have to face.

 

Wah, I pity the person who bot your car. New car $130k, he chose to buy 2 yr old at $100k with $50k difference in COE. You got a super deal bro!

[Kaixing]

Price is going CRAZY!

[Old-driver]

ok.

 

we compare now.

 

toyota VIOS: assuming u buy now, it will cost about 100k(all in)

 

when 10 years come, assuming the COE doesnt drop, pay 60k PQP.

 

6k depreciation/year.

 

a new car THEN, toyota, would easily cost about 120k. inflation+exchange rate fluctuations.

 

Mercedes benz(cat B): total now, 200k.

 

10 years down the road, cat B will cost maybe 70k PQP

 

depreciation of 7k/year. vs a new merc that can easily be >10k/year.

 

isnt it cheaper?

 

Half wrong cos they will lose the PARF value of $30k as well.

[Theobserver]

Heard that this time round was due to the Changi Aero Show. PM supply BMWs to the show so die die must get the coe

[Mllcg]

I have a different view to it. I would recommend an used Vios at the end of 10 years.

 

Assuming the case of Vios just for easy comparison. At the end of 10 years,

 

1) Paper value you get back from your Vios - 15k (based on old PARF)

2) PQP to be spent on your Vios - 60k

3) Paper value of the new used Vios - 10k (based on new PARF)

 

I would just add all the three above and buy a 85k Vios (probably you would get a 2-3 years old Vios on the basis of 120k new Vios).

 

The advantages are you get to drive a newer version Vios (assuming that you do not buy a Lemon). The risk of getting an unknown used car would offset the maintenance you required to do on your 10 years plus Vios.

yeah.

 

85k

 

u decide u want to pay 85k for 7 years or 85k for 10 years. personally, i will choose 10 years.

 

i still dont understand why people think cars >10 years give problems. esp if u have been driving throughout(all 10 years driven by u, maintained by u, etc...). afterall, in SG, most people service cars regularly(more regularly than in other countries).

 

in other countries where there is no COE, cars are not often serviced. but they still can be driven with no problems. just most probably an engine rebuild at 10 years if mileage is high. thats all

Edited February 9, 2012 by Mllcg

[Maroon5]

Any COE predictions comes August when the next cut takes effect?

 

my guess is similar level 45-50k cat a. please, a 110K altis is already crazy enough

[Maroon5]

1) Paper value you get back from your Vios - 15k (based on old PARF)

 

problem is it will b closer to 7-8k then 15k. vios OMV quite low ard 12-13k only.