Powxus 3rd Gear October 17, 2014 Share October 17, 2014 the minimum PARF that u will lose by renewing COE shld b abt $10k. so, ($30k + $10k) / 5 = $8k per yr. take note of higher road tax too. a brand new Mazda 3 is abt $10k per yr. There is a difference, you lose $10k for 10 years vs $8k for 5 years lol. Therefore a fairer comparison would be how much you would lose if you were to sell your new car at the 5 year mark as compared to extending the old car's COE for 5 years. ↡ Advertisement Link to post Share on other sites More sharing options...
yo2020 6th Gear October 17, 2014 Share October 17, 2014 There is a difference, you lose $10k for 10 years vs $8k for 5 years lol. Therefore a fairer comparison would be how much you would lose if you were to sell your new car at the 5 year mark as compared to extending the old car's COE for 5 years. wah, where got ppl compare like that (unless for sure no need car in 5 yrs' time). Link to post Share on other sites More sharing options...
Mrmilktooth Supercharged October 17, 2014 Share October 17, 2014 (edited) once you renew. you lose your parf. perversely, this would make it more worth it to renew older jap B&B cars than a luxury conti. http://www.sgcarmart.com/used_cars/info.php?ID=434568&DL=2547 e.g a car like this omv 78k. parf abt 43k. renew coe 60k pqp. will end up lose abt 10k per yr. not to mention, the increased maintenance cost and additional roadtax. just curious. if renew the COE can take loan? or full cash? this 1 cat b liao.. min. 74K for now.. and conti.. i think many will say maintenance chor... and 3L roadtax.. Hmm... by right COE renewal is many favourite line.. full cash.. so i dunno man.. not within my budget .. Edited October 17, 2014 by Mrmilktooth Link to post Share on other sites More sharing options...
Little_prince Supersonic October 17, 2014 Share October 17, 2014 this 1 cat b liao.. min. 74K for now.. and conti.. i think many will say maintenance chor... by right COE renewal is many favourite line.. full cash.. so i dunno man.. not within my budget .. maybe need to start to get my kid used to taking mrt liaoz. haiz Link to post Share on other sites More sharing options...
Mrmilktooth Supercharged October 17, 2014 Share October 17, 2014 Oh well, different strokes for different folks. Can see various calculations coming into play. definitely agree.. i got small head better dont buy big hat.. maybe need to start to get my kid used to taking mrt liaoz. haiz dont bluff!!!... u got big backers.. [laugh] chut more grandchildren.. maybe have big gifts leh... Link to post Share on other sites More sharing options...
Voodooman Supersonic October 17, 2014 Share October 17, 2014 if you can earn $45M, why want $37.5M only When you have 250 billion in the bank, you can be generous. hahaha... wah, where got ppl compare like that (unless for sure no need car in 5 yrs' time). COE in 5 years time should be higher, given population growth, so if you can afford a new car, buy one. 1 Link to post Share on other sites More sharing options...
Powxus 3rd Gear October 17, 2014 Share October 17, 2014 wah, where got ppl compare like that (unless for sure no need car in 5 yrs' time). When you compare all factors must be equal. Even for new car, the depreciation is much higher if you use for 5 years as compared to driving till scrap. 1 Link to post Share on other sites More sharing options...
L23 6th Gear October 17, 2014 Share October 17, 2014 When you compare all factors must be equal. Even for new car, the depreciation is much higher if you use for 5 years as compared to driving till scrap. This is very true... Many ppl tend to use the depre figure for new car for 10 years.. Of cos this figure will be much lower.. However, they didn't take into the consideration that the car may be sold for whatever reason way before the 10 years. When one sell the car before scrap, the depre figure actually went up due to all the losses and commission/margin to be given to the 2nd hand dealer.. 1 Link to post Share on other sites More sharing options...
Rantwb 2nd Gear October 17, 2014 Share October 17, 2014 No, you counted it right. Every 2 years the revenue collected can build a very long underground MRT line and spare change to build a few viaducts. That's why gahmen got money to build next gen GPS erp along with many nation building project. Link to post Share on other sites More sharing options...
Chucky2007 Turbocharged October 17, 2014 Share October 17, 2014 Next time will read stories like this in Straits Times: estranged wife applies to Court for LTA's release of supposedly cheating husband's car travel log.. Link to post Share on other sites More sharing options...
ST69 4th Gear October 17, 2014 Share October 17, 2014 wah, where got ppl compare like that (unless for sure no need car in 5 yrs' time). I second that. Good luck to him ... Link to post Share on other sites More sharing options...
Rantwb 2nd Gear October 17, 2014 Share October 17, 2014 http://www.sgcarmart.com/used_cars/info.php?ID=434568&DL=2547e.g a car like this omv 78k. parf abt 43k. renew coe 60k pqp. will end up lose abt 10k per yr. not to mention, the increased maintenance cost and additional roadtax. just curious. if renew the COE can take loan? or full cash? I view it slightly differently: From now till October 2015, this car costs me $3k (59 cost less 56k PARF rebate) depre. New BMW 5 series cost me 220k, depre per yr is 22k. In terms of cash flow: Yr1: 59k (need to satisfy the loan before car is sold) Yr2: 76k (rebate less deposit + first yr loan repayment) Yr3,4,5,6: 22k each yr. Yr7,8,9,10,11: no cash outflow Averaging, 20k per year If renew COE, Yr1: 59k Yr2: 69k (PQP) Yr3-11: no cash outflow Averaging, 11k. Although I have to contend with increased roadtax and increased maintenance cost, I have 9k a year to spare each year. If repairs don't exceed 9k a year (which normally doesn't), I save. Plus good for environment too, compared to resources consumed to manufacture new car..... 2 Link to post Share on other sites More sharing options...
Voodooman Supersonic October 17, 2014 Share October 17, 2014 (edited) When you compare all factors must be equal. Even for new car, the depreciation is much higher if you use for 5 years as compared to driving till scrap. How can all factors be equal? New car definitely less maintenance. Anyway, different strokes for different folks. This is very true... Many ppl tend to use the depre figure for new car for 10 years.. Of cos this figure will be much lower.. However, they didn't take into the consideration that the car may be sold for whatever reason way before the 10 years. When one sell the car before scrap, the depre figure actually went up due to all the losses and commission/margin to be given to the 2nd hand dealer.. If you renew your COE and in year 4, your GB needs to overhual and it will cost, say, 3k, you probably end up scrapping the car and guess how much you will lose? You are also assuming you will drive the full 5 years of your COE car and that may not be true. Like I mentioned in one of my earlier post, to renew, you better pray hard there are no major repairs in the next 5 years, otherwise most of your anticipated savings will kaput. Edited October 17, 2014 by Voodooman Link to post Share on other sites More sharing options...
Voodooman Supersonic October 17, 2014 Share October 17, 2014 I view it slightly differently: From now till October 2015, this car costs me $3k (59 cost less 56k PARF rebate) depre. New BMW 5 series cost me 220k, depre per yr is 22k. In terms of cash flow: Yr1: 59k (need to satisfy the loan before car is sold) Yr2: 76k (rebate less deposit + first yr loan repayment) Yr3,4,5,6: 22k each yr. Yr7,8,9,10,11: no cash outflow Averaging, 20k per year If renew COE, Yr1: 59k Yr2: 69k (PQP) Yr3-11: no cash outflow Averaging, 11k. Although I have to contend with increased roadtax and increased maintenance cost, I have 9k a year to spare each year. If repairs don't exceed 9k a year (which normally doesn't), I save. Plus good for environment too, compared to resources consumed to manufacture new car..... Good maths but can BMW lasts 20 years? I agree it makes more sense to renew high OMV car as the LTA 2.4x multiplier will save you money (assuming no major repairs, an unlikely event), for B&B car, better to buy a 5 years old used. Link to post Share on other sites More sharing options...
NightWind 4th Gear October 17, 2014 Share October 17, 2014 Bro BMW can last twenty years if u do complete engine overhaul. Lol But seriously la in cool countries they last longer. Here in the tropics.....hmmm Good maths but can BMW lasts 20 years? I agree it makes more sense to renew high OMV car as the LTA 2.4x multiplier will save you money (assuming no major repairs, an unlikely event), for B&B car, better to buy a 5 years old used. Link to post Share on other sites More sharing options...
Rantwb 2nd Gear October 17, 2014 Share October 17, 2014 Saw an ad for Toyota vios, 8.8k, one year left. If parf rebate is 6k, you only pay 3k for using the car. Quite a deal, but one would be open to risk of car issues/repairs. But compared to new car, where one would have to deal with 11k depre, this idea isn't that bad. Link to post Share on other sites More sharing options...
Damienic 5th Gear October 17, 2014 Share October 17, 2014 Good maths but can BMW lasts 20 years? I agree it makes more sense to renew high OMV car as the LTA 2.4x multiplier will save you money (assuming no major repairs, an unlikely event), for B&B car, better to buy a 5 years old used. Good question. My friend's previous BMW 323 suddenly had black smoke coming out of its engine during 9th year while driving. The engine was totally gone and if want to continue driving, have to do a complete overhaul which costs 5 fig sum. Generally, BMW dun last as long as Mercs. 1 Link to post Share on other sites More sharing options...
Kyrios Turbocharged October 17, 2014 Share October 17, 2014 Good maths but can BMW lasts 20 years? I agree it makes more sense to renew high OMV car as the LTA 2.4x multiplier will save you money (assuming no major repairs, an unlikely event), for B&B car, better to buy a 5 years old used. Bro, care to explain more, all along I tot it is more practical to renew low OMV cars.. ↡ Advertisement Link to post Share on other sites More sharing options...
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