Ready for high COE?

[Typhoonz]

My HK aunties say having to 踩clutch to work the manual gears is real hard work for lady drivers, 踩到下面出水！！！

 

Isn't that a good thing?

[Super7]

 

Isn't that a good thing?

LOL

 

But these aunties believe in using the water for the right ocassion! Certainly not for clutching.... hehehe

[Typhoonz]

LOL

 

But these aunties believe in using the water for the right ocassion! Certainly not for clutching.... hehehe

 

Take it as foreplay lor... When they get there ready liao...

 

[Enye]

My HK aunties say having to 踩clutch to work the manual gears is real hard work for lady drivers, 踩到下面出水！！！

A bit exaggerated leh

 

My wife was able to drive our manual car when she was pregnant with our no 2 until her final 4 weeks to the due date

[Quantum]

A bit exaggerated leh

 

My wife was able to drive our manual car when she was pregnant with our no 2 until her final 4 weeks to the due date

because HK is super traffic jam, it's possible 踩到下面出水

[Ryanyusoff]

Many people say a lot of car owners are extending their cars? But i dont see anyone around me, even at my house carpark here? Noticed many either buy new car or used car.

 

my neighbour extend his humble nissan sunny..

[Super7]

A bit exaggerated leh

 

My wife was able to drive our manual car when she was pregnant with our no 2 until her final 4 weeks to the due date

 

I also feel its exaggerated but HKers are good at dramatising small matters into big ones, especially the aunties!! [sweatdrop]

[Super7]

because HK is super traffic jam, it's possible 踩到下面出水

 

Traffic jams plus steep slopes, very hard not to get wet down there!! [sweatdrop]

[Super7]

 

Take it as foreplay lor... When they get there ready liao......

 

 

LOL [thumbsup]

 

Another proof that HKers are super efficient... they waste no time!!

[Luckydrawcar]

My vios is left with 2 months before end of COE, did a simple calculation if renewal is 5 years I will put down about 31k.

 

Retain Vios ($31k full payment, no loan)

$62 610 PQP (2 months ago)

$31 305 (5 yrs)

$6261 (1yr)

$521 (1 mth)

$638 (if inclusive lost of paper value about $7k)

 

 

Road Tax Current $342

Renew COE

Year 1 $377

Year 2 $411

Year 3 $445

Year 4 $479

Year 5 $513

 

Inspection: will be yearly, $62

Insurance: cheaper, third party.

 

My maintenance is low avg $50 for minor servicing at JB. Major servicing might change more things at about $200.

 

Might need to do one major change of parts if renewing, eg belting, pulley etc will come up to avg maybe 1k.

 

My car mileage is low, now only 150k.

 

 

Car Cost for Kia K3 (Downpayment $39k, monthly $1103 for 5 years)

$98 999 Car Price

$6781 Interest

$105 780 Total Car Cost

$10 578 (1yr)

$881 (1 mth) (havent deduct PARF)

 

My preference for renewal is straight forward. No loans, no obligation of monthly payment for the next 5 years.

 

In case, COE suddenly drops to 20-30k (though unlikely, even with many car being scrap) I can just scrap my car and get back the balance COE to purchase a new car. eg. If COE drops to 30k next year, you can easily save from here against your forfeited PARF if you scrap you car and purchase a new one. (I also need to weigh the risk of 5 years later after my COE is up, the COE might be even higher than this)

 

I also intend to get a second property once my MOP for my flat is up. The loan of your car will affect the amount of loan you can get for a property under the TDSR framework at 60%.

 

I just need a B&B car for travel. Low maintenance, cheap servicing and fuel consumption is good at avg 13-14km/l. (read in the other thread one guy was charge $400+ for a simple 20k servicing for the new Mazda 3)

 

So I will either renew, or just go public or even scrap, hold and see the pricing again next end year. still monitoring the COE till Dec, though unlikely to change much.

 

To sum up, do your own calculation (hope my calculation is correct :) and see if it's worth it, every car might be different (for this case i'm comparing a B&B old vios and the newer B&B Kia K3) , and also see your lifestyle, needs and $$ you are willing to come out with. Buy when you are ready and able to service the loan.

 

 

For toyota vios not much pt renewing coe. Dnt forget wear and tear will get more serious as time goes by. Ur $1k repair i dont think will be enough.

 

As for coe dnt think will ever see those $20k coe anymore since govn already said they wanna balance up the coe. Unless there is another great depression? But when that time comes unless one is super cash rich, otherwise most ppl will avoud commiting a car.

Edited October 19, 2014 by Luckydrawcar

[Typhoonz]

 

LOL [thumbsup]

 

Another proof that HKers are super efficient... they waste no time!!

 

Benefit all the uncles...

 

What a terrible thought...

 

[Super7]

 

Benefit all the uncles...

 

What a terrible thought...

 

The HK uncles may have better idea ---- bottle it and export to Japan where demands for such niche 'treasure' are big!!!

[Dafansu]

For toyota vios not much pt renewing coe. Dnt forget wear and tear will get more serious as time goes by. Ur $1k repair i dont think will be enough.

 

As for coe dnt think will ever see those $20k coe anymore since govn already said they wanna balance up the coe. Unless there is another great depression? But when that time comes unless one is super cash rich, otherwise most ppl will avoud commiting a car.

 

vios repair is cheap, parts can get from stockist. have been doing this for my servicing. one servicing is only $50 as mentioned.

[Typhoonz]

The HK uncles may have better idea ---- bottle it and export to Japan where demands for such niche 'treasure' are big!!!

 

Wah I think havem't bottled already become...

 

 

[Allen]

 

my neighbour extend his humble nissan sunny..

at my office, there is one ody, 2 civics and a merc waiting for the slightest dip in the PQP, they will renew for another 5 years.

Who say COE car is a rare breed, already published, the population of older car is increasing, I think it is 25% now, will be more once we hit 2015 when the 2005 cheap coe are up for renewal or deregistration.

[Powxus]

at my office, there is one ody, 2 civics and a merc waiting for the slightest dip in the PQP, they will renew for another 5 years.

Who say COE car is a rare breed, already published, the population of older car is increasing, I think it is 25% now, will be more once we hit 2015 when the 2005 cheap coe are up for renewal or deregistration.

 

Renew COE is a safer approach if your car is in good condition as compared to buying a 6-7 year car where you are uncertain of it's condition.

[Baal]

 

Renew COE is a safer approach if your car is in good condition as compared to buying a 6-7 year car where you are uncertain of it's condition.

In my family, 1 x Getz aiming for 5yrs. 1 x Swift aiming for 10 yrs.

[Sktan10]

 

my jap car very cheap. parf only 6K foregone.. still only 1.2K per year (even if count 5years.) = 100 per month.

 

if i just need a pt. A to B car and dont need to squeeze with others on public transport. it costs so much less than a new car.

 

1.6L road tax max 150% is also 1K.. not that expensive la.. compared to new car..

 

wear and tear parts also available easy and cheap..

 

driving a new car means nothing to me if i have to fork out so much $$.. i rather spend on my family..

Car with low omv are worth to renew becos u wont feel so heart pain.It just 6k omv gone only.

Roadtax no doublt is 150% but that is 5yrs later and u save your 3rd party insurance compare to new car 1st party which is much more expensive.So technically roadtax & insurance addup works out to almost the same if not cheaper for old car.