Anyone got car left 3-4 months want to get rid of?

[Irongiant89]

I thought of getting a car with 1-2 years of COE left, but have since scrapped the idea.

 

Why you should NOT get a car with 1-2 years COE left:

 

1) The COE for a 2007-2008 car was about $10-15k (approximate, dont need to shoot me down for this), and including the ARF, etc, the car should not have cost more than $100k when new.

 

However, these cars are now being sold at a depreciation of about $10k (for 1.6L e.g. Altis) and about $12k (for 2.0). Simple maths for the 1.6L car - $10 000 x 10 yrs = $100k. $100k + 6k (PARF value) = $106k. The car was definitely not bought at $106k in 2007 or 2008. So what you would be doing is to 'subsidise' the first owner, who, due to the fault in the system back then, has in fact made a profit.

 

Btw, a $10k depreciation works out to $27/day just to say you own the piece of metal. Excluding road tax, insurance, parking, petrol.

 

2) If you look at depreciation values ($10k) and the price of a 2009 car now, the situation is even worse. This is because, in that year, COEs were really cheap. Some ads on SGcarmart just put a dash for the COE price.

 

3) It seems that regardless of the car brand, the depreciation for a car with 1-2 years COE left are almost all the same ($10k). It is really a good time to make a killing.

 

4) Don't be fooled by thinking that a 1.6L car (1-2 yrs COE left) is more worth getting than a 2L car. e.g. A Sep 2007 Altis may be advertised for $16k, while a Camry for $26k. Putting aside your ability to pay more upfront for the Camry, fuel consumption preferences, etc. both have the same depreciation. Again, all cars have about the same depreciation.

 

Why you should NOT get a car which is sold with its COE renewed:

 

1) The most obvious reason is YOU ARE PAYING FOR the car's PARF, body, and if bought from a dealer, what ever profit margin the dealer wants to rip from you.

 

As an example, I went down to view a Camry, advertised for $51k with 5 years COE. Wah.. So cheap!

 

Here's the breakdown which the dealer will give you:

 

PARF:$15.4k

Body: $2k

COE: $28.5k

 

Total: $45.9k

 

How to account for the extra $5.1k? At this stage the auntie dealer who had been typing on her calculator paused, before adding that the car was in very good condition, the air con is cold, etc.

 

Why should you pay for the 'body' which will be worthless at the 15th year, and the PARF which the previous owner or the dealer enjoys? An NOBODY will ever be foolish enough to sell their car at anything less that the 'PARF plus body value'.

 

Why don't you try to call up scrap yards and ask if they can take in a Camry for $2k, or is this an estimate from the moon?

 

Other Thoughts

 

1) It used to be that 'continental cars' have 'no value' near the end of their 10th year. But do a quick search on sgcarmart, and yes, they still command depreciation in the $10k range. Despite all the stories about parts not available or take a long time to import from the country of origin, the model no longer in production, etc. Again, be wary. The car price may seem 'cheap' but really calculate the depreciation to decide, apart from potential maintainence issues.

 

2) The fact is, an old car is an old car. Even the best and cleanest looking car might have a gasket leak somewhere. Some things can be discovered if you send the car for an AA inspection, but ask the AA inspector, and he would honestly admit that even for the thoroughness of their inspection, there are parts of the car which they cannot access and cannot tell you whether a problem might develop a day, week, month or year later.

 

3) All car dealers will say 'This car cannot discount / cannot discount so much cos we took in at high price'. So what the f does that have to do with you? Or they may advertise 'Owner upgrading to BMW'. Wow. And what the f does that have to do with you? Or they may say 'One single lady owner only!'. Hmm.. How many times mount kerb or...? Of course this applies to male drivers as well, but who will bother to read this.

 

 

So what is the problem here?

 

These 8 - 10 year old cars are being sold at the depreciation value of new cars in 2016 (and even then, you might find the depreciation of new cars are slightly lower than the 8-10 year old cars). Of course the 'smaller' number like 28k may seem more accesible to some people and taking into account financial abilities, etc.

 

Which second hand cars are worth buying?

 

My humble opinion is those in 2013 onwards only (i.e. 3 year old and younger car). The COE had skyrocketed in 2013 and the 10k depreciation is justified. If you decide to scrap the car at the 5th year, you still get a decent COE rebate and PARF.

 

Otherwise, if there is no real need for the car, take public transport. Uber, Grab, etc are killing each other to the benefit of consumers. Busses and trains generally come on time; other countries really have much worse public transport.

 

 

These are just my opinions and I have made many generalisations (e.g. the costs etc.) but I am sure most of them are relatively accurate.

 

Happy car hunting.

Thanks bro for ur analysis. Not sure if i should go for a car. Its the convenience it will provide. And i guess its the lifestyle.

agreed with most of your points.

 

3 things to highlight:

 

1. Always buy from direct owner. Never deal with car dealers unless the dealer gives reasonable warranty to the car.

 

2. Cars left with 1-2 years. You need to remember the PARF value that you will be getting back at 10th year. if a car is asking for $15k with one year left. and the PARF is $10k. I think its worth paying for this. But if the car is asking for 20k with PARF 10k, then you got to negotiate the price down.

 

3. Some ppl like to buy old cars, not because they have no money. its because they want to pay in full and not feeding the banks. This point brings back to my point 1 about buying from direct owners, because they can negotiate for lower price and just pay in full. Of course some car dealers are more desperate to sell, so this is the opportunity to cut their throats.

 

If you buy a new car, you are paying at least about $7k-$8k of interests to the banks, and at same time, the so called new car depreciate like hell in the first few years. If you need to sell off, you lose your pants.

 

We only talk about numbers here. Exclude the argument that new car got new smell, new experience, got face, blah blah blah.

Haha bro. Then why not coe cars with lowest depreciation?

[seriouslehh]

I have a 2006 black markx 2.5A for sale.

 

Registration Date: 26 Jan 2007

Minimum PARF Upon Scrap : $15559

Mileage: 150k+

 

No repairs required till scrap.

 

Asking Price is $18000, about 600 depre per mth. Should be available in 1 to 2 weeks, after I collect my new car.

 

Text me at 9oneone83one87 if interested.

Soldddddds

[Gackty]

I have a 2006 white Mark X 2.5A for sale.

Registration Date: 30 Jan 2007
Minimum PARF Upon Scrap : $15052
Mileage: 150k+

Most wear and tear parts change. Good for another 4.5 months.

Asking Price is $18000.

Text me, GARY at 9seven9zero8241 if interested.

 

Can arrange viewing at your convenience if it matches mine.

 

Edited September 20, 2016 by Gackty

[Untitled]

selling my toyota yaris 1.5E

 

parf $8524

coe till 20 nov 2016 (2 months left)

body value about $300-$500

 

looking to sell at depreciation of $20 daily

 

sms eight one eight 99 six six 4

[Cng4444]

Hi all,

Looking for cars left with a few months or a year till Coe is due.

Text/ call me at 98380404 or pm with your car details.


Thank you 

[ZacharyAng]

I have a 2006 white Mark X 2.5A for sale.

 

Registration Date: 30 Jan 2007

Minimum PARF Upon Scrap : $15052

Mileage: 150k+

 

Most wear and tear parts change. Good for another 4.5 months.

 

Asking Price is $18000.

Text me, GARY at 9seven9zero8241 if interested.

 

Can arrange viewing at your convenience if it matches mine.

 

dashboard got crack?

 

[Ronleo]

Hi guys,

 

2.0 Camry.

COE expiry: 26th Nov 2016

OMV: $27,850

Mileage: 160+ k

 

The dashboard is good as new. No "sticky" issues. Replaced in April 2015 with original invoice from Borneo Motors.

Fully serviced at Borneo til April 2015.

 

Good for COE renewal.

 

Willing to let go within 10 days.

 

Currently highest offered is $17k.

PM me your number and price.

[DylanRaphaelLee]

I have a toyota wish ends in December. Rental $1300 per month. inclusive insurance and servicing and wear and tear. pm me if interested.

[Ronleo]

Hi guys,

 

2.0 Camry.

COE expiry: 26th Nov 2016

OMV: $27,850

Mileage: 160+ k

 

The dashboard is good as new. No "sticky" issues. Replaced in April 2015 with original invoice from Borneo Motors.

Fully serviced at Borneo til April 2015.

 

Good for COE renewal.

 

Willing to let go within 10 days.

 

Currently highest offered is $17k.

PM me your number and price.

Btw, Camry body is valued at $800.

[clasher]

i have a honda fit 1.3A for sale. coe expires on 13 november 2016. good for short term drive. minimum parf is around $6.9k.

 

please pm me to discuss if you are interested.

This is back for sale again. I did not reply to some pm as something cropped up and I need to hold the car.

 

Please pm me if you are interested.

[rex73]

Apologies to all who has replied previously as somethimg cropped up. Up for sale again as per below :

 

Oct 2007 Toyota Camry 2.4 PI model maroon in color.

COE till 21st Oct 2017

Minimum Parf: $14104

Battery and tyres changed beginning of this year. Rear suspension changed in July. Some scratches on body but does not affect performance. Servicing done two month ago. Cold aircon with smooth gearbox and drive.

 

Anyone interested pls PM to offer.

 

 

Thanks in advance.

[Tamecar]

Nissan cabstar(Champagne) 5 spd Manual(Year 2003 Model) for sale.

 

First registration date on 4th Apr 2003.

 

Left 1.5 years to go. Can go for ETS for those who would like to purchase for fleet renewal.

 

If intend to buy and use for delivery, no repair needed. Comes with stainless steel bed. Rear deck in good condition, no rust, except some anti corrosion oil stain.

 

Air-con unit just top up gas, super cold air con. Scratch marks around the vehicle with one dent on the front passenger door.

 

Current COE value at $8612.

 

Estimated PQP  for Euro 5 vehicle is $38,577

Estimated PQP for Euro 6 vehicle is $37,625

 

Willing to let go at 12k nett.

 

PM for discussion.

[Caldina]

My friend has a Legacy expiring on 8 Dec 2016

 

OMV $31,444

 

Scrap today at $17,599

 

Anyone interested please PM to offer.

[Stahn07]

Chevy Optra Estate Magnum 1.6A (Silver)

 

COE expired 27 Sept 2017

Mileage around 222k

 

Min Parf: about $7800

Road tax just renewed this month.

Front suspension changed, tyres in good condition able to last till scrap. vehicle service done recently.

 

PM for discussion/view.

Thank you for your attention.

[sckona]

Hi guys,

2.0 Manual Subaru WRX.
COE expiry: 23rd May 2017
OMV: $18,817
Parf Rebate: $10,349
Mileage: 124 k

Service records since ownership 2013 available. 

PM me if interested.

[Nzy]

Hyundai Verna 1.4M

COE expiry: 4th Jan 2017

OMV: $9851

Parf Rebate: $5418

Mileage: 100k

 

Scratches on the car but no mechanical problems.

[Zeally]

Hyundai Verna 1.4M

COE expiry: 4th Jan 2017

OMV: $9851

Parf Rebate: $5418

Mileage: 100k

 

Scratches on the car but no mechanical problems.

When u intending to let go?

Mitsubishi Lancer 1.6M

COE expiry: 8th Jan 2017

PARF Rebate: $5812

Mileage: 150k+

 

Many parts changed and serviced over the last 1 year.

 

 

Contact me via WhatsApp at 8 four four 8 2 8 four four

When u intend to let go?

Mitsubishi Lancer 1.6M

COE expiry: 8th Jan 2017

PARF Rebate: $5812

Mileage: 150k+

 

Many parts changed and serviced over the last 1 year.

 

 

Contact me via WhatsApp at 8 four four 8 2 8 four four

When u intend to let go?

[Manguo]

looking to sell my Honda Jazz 1.4M. intend to let go early Nov 

mileage 116K , v. good condition, definitely recommended for coe renewal 

 

Vehicle Make: HONDA

Vehicle Model: JAZZ 1.4M

Primary Colour: Blue 

Engine Capacity/Power Rating: 1339 cc / -

Minimum PARF Benefit: $7,677.00 

PARF Eligibility Expiry Date: 10 Jan 2017

 

Whatsapp Only: 85 SEVEN 1 0 ZERO 1 ZERO