What make and model worth renew COE after 10 years

[linyanan]

For me. The best car to renew is only one.

 

Lancer cs3

 

Jap? Check

Low parf? Check

Reliability? Check

Parts? Check

JB? Check.

Low cc? Check. Cos road tax will increase.

Early last year I renewed coe for my lancer cs3.

 

No regrets - checked!

Peace of mind - priceless!

[Ian1]

In my opinion, I feel it's the high PARF and luxury cars that are worth renewing the COE.

 

I own a BMW 7 Series with OMV of $90,000 and scrap value 55% = $49,500

 

Top up COE and the total cost is $54,000 + $49,500 = $103,500

 

If i buy new it's $405,000. Thus renewing COE is a massive savings of $300,000

 

Bear in mind new cars 100% tax 0 - 20,000

140% tax 20,001 to 50,000

180% tax 50,001 upwards

 

Thus it makes more sense to renew COE on cars with OMV well over $50,000 to avoid paying taxes ARF 180% on these new cars

[Nzy]

Has anyone questioned why road tax must increase?

 

Having a 10 year car does not mean it will cause more pollution if well maintained.

 

Do they think that people with over 10 years car use them more frequently thus higher road tax?

 

If road tax don't increase, most people will renew their COEs. Especially those big CC cars. Now many people don't renew big CC cars cuz of the road tax.

[Vinceng]

In my opinion, I feel it's the high PARF and luxury cars that are worth renewing the COE.

 

I own a BMW 7 Series with OMV of $90,000 and scrap value 55% = $49,500

 

Top up COE and the total cost is $54,000 + $49,500 = $103,500

 

If i buy new it's $405,000. Thus renewing COE is a massive savings of $300,000

 

Bear in mind new cars 100% tax 0 - 20,000

140% tax 20,001 to 50,000

180% tax 50,001 upwards

 

Thus it makes more sense to renew COE on cars with OMV well over $50,000 to avoid paying taxes ARF 180% on these new cars

 

Another option is to downgrade and get a brand new Japanese brand 1.6l saloon.

 

Afterall, whether it's a BMW 7 series or a Toyota Corolla, they both serve the primary objective of transporting you from point A to B.

[Vinceng]

In my opinion, I feel it's the high PARF and luxury cars that are worth renewing the COE.

 

I own a BMW 7 Series with OMV of $90,000 and scrap value 55% = $49,500

 

Top up COE and the total cost is $54,000 + $49,500 = $103,500

 

If i buy new it's $405,000. Thus renewing COE is a massive savings of $300,000

 

Bear in mind new cars 100% tax 0 - 20,000

140% tax 20,001 to 50,000

180% tax 50,001 upwards

 

Thus it makes more sense to renew COE on cars with OMV well over $50,000 to avoid paying taxes ARF 180% on these new cars

 

Another option is to downgrade and get a brand new Japanese brand 1.6l saloon.

 

Afterall, whether it's a BMW 7 series or a Toyota Corolla, they both serve the primary objective of transporting you from point A to B.

[flashbang]

Has anyone questioned why road tax must increase?

 

Having a 10 year car does not mean it will cause more pollution if well maintained.

 

Do they think that people with over 10 years car use them more frequently thus higher road tax?

You haven't reach minister material.

 

Ordinary peasant sinkies ask why increase road tax, why increase ERP, why increase water price.

 

Minister material ask why not increase road tax, why not increase ERP, why not increase water price.

[Ian1]

Another option is to downgrade and get a brand new Japanese brand 1.6l saloon.

 

Afterall, whether it's a BMW 7 series or a Toyota Corolla, they both serve the primary objective of transporting you from point A to B.

In the end, its win win for PAP

[DC1977]

In the end, its win win for PAP

[350z]

Another option is to downgrade and get a brand new Japanese brand 1.6l saloon.

 

Afterall, whether it's a BMW 7 series or a Toyota Corolla, they both serve the primary objective of transporting you from point A to B.

Flying 1st class vs cattle class also 'transport u from pt A to B', but the journey is wat sets them apart...from the moment u step into airport -> 1st class lounge -> 1st class cabin --> 3star meal + roll up bed ---> u get the drift...

 

So for 7series owner, dun think Corolla is in their shortlist...

 

While getting to destination is impt, the image, the journey are just as impt...

[Cybertech]

For me. The best car to renew is only one.

 

Lancer cs3

 

Jap? Check

Low parf? Check

Reliability? Check

Parts? Check

JB? Check.

Low cc? Check. Cos road tax will increase.

 

Regret never renew COE 10 years during last year may 2016 and renew only 5 years.

Workshop guy already told me this cs3 can easily last another 10 years with proper maintenance.

[Vinceng]

Regret never renew COE 10 years during last year may 2016 and renew only 5 years.

Workshop guy already told me this cs3 can easily last another 10 years with proper maintenance.

It cost only $46,000 to renew ten years COE in May 2016, compared to $50,000 now. Makes sense to renew ten year as your parf is already confiscated by LTA

[Nonewposts]

In my opinion, I feel it's the high PARF and luxury cars that are worth renewing the COE.

 

I own a BMW 7 Series with OMV of $90,000 and scrap value 55% = $49,500

 

Top up COE and the total cost is $54,000 + $49,500 = $103,500

 

If i buy new it's $405,000. Thus renewing COE is a massive savings of $300,000

 

Bear in mind new cars 100% tax 0 - 20,000

140% tax 20,001 to 50,000

180% tax 50,001 upwards

 

Thus it makes more sense to renew COE on cars with OMV well over $50,000 to avoid paying taxes ARF 180% on these new cars

This type of car need to drive new model to let people know that your income level is keeping up with the car

Another option is to downgrade and get a brand new Japanese brand 1.6l saloon.

 

Afterall, whether it's a BMW 7 series or a Toyota Corolla, they both serve the primary objective of transporting you from point A to B.

Downgrade to 1.6 Jap car too extreme already lah. Maybe can Downgrade to the new 5 series

[Ian1]

This type of car need to drive new model to let people know that your income level is keeping up with the car

Downgrade to 1.6 Jap car too extreme already lah. Maybe can Downgrade to the new 5 series

I am trying to answer the subject header

[Nonewposts]

I am trying to answer the subject header ð.

 

Personally, I feel its not worth to renew COE for a below $25,000 OMV car.

 

These type of cars currently cost around $51,000 to renew COE plus loss of PARF around $10,000 to $12,000.

 

Your total cost $60,000 to $65,000.

 

Can easily buy a similar type new car from $80,000 to $120,000, an additional $20,000 to $60,000 for a brandnew car with 3 years free maintenance, better FC of between 12km/l to 16km/l for these modern cars with new tires, new gearbox, new aircon, new compressor etc (typical things that will have to be changed in old cars).

Got to agree that you will save more on renewing coe for a 7 series than a bnb car. But there are more people going for 5 years renewal and most cars going for coe renewal are small bnb cars. I believe it is easier to forego the few k in parf value for a small car than 40k for the 7 series. Either ways both are different market altogether.

[Ian1]

Got to agree that you will save more on renewing coe for a 7 series than a bnb car. But there are more people going for 5 years renewal and most cars going for coe renewal are small bnb cars. I believe it is easier to forego the few k in parf value for a small car than 40k for the 7 series. Either ways both are different market altogether.

Yes, both in terms of percentage (quantum), as well as, absolute terms, greater savings from renewing high OMV cars versus below $25k OMV cars.

 

Also, while higher CC cars attract higher road tax penalty in dollar terms (50% surcharge of $3,000 road tax is higher than 50% surcharge of $1,000 road tax), somehow, the big capacity engines seems to drive and feel it can last another 200,000km versus a smaller say 1,300cc car.

 

Anyway, I conclude that Singapore has the most complicated system when it comes to owning, buying and maintaining a car. Only in Singapore where one can actually make a profit from driving a 1-2 year old car if COE suddenly surges, or pay a different price for a new car every two weeks.....

[Showster]

Imagine you have two cars COE expiring at the same time and don't mind renewing either.

 

One has parf of 40K, the other has parf of 6K.

 

To renew A, you forgo 34k and pay 54k to renew 10 years.

 

To renew B, you get 34k and top up 20k to renew 10 years.

 

So the main question is whether one feels it is worth and affordable to pay 34k for a 10year old premium vehicle over a 10 year old BnB vehicle. Everyone has a different answer.

Edited April 6, 2017 by Showster

[Hamburger]

To each his own.

 

I might not intend to extend my 5er and forsake the parf of 30k.

 

Somehow don't feel it's worth it even though I love the IL6 and the drive it offers.

 

10yrs old car is never comparable to a new one if you ask me.

[Beng2]

Imagine you have two cars COE expiring at the same time and don't mind renewing either.

 

One has parf of 40K, the other has parf of 6K.

 

To renew A, you forgo 34k and pay 54k to renew 10 years.

 

To renew B, you get 34k and top up 20k to renew 10 years.

 

So the main question is whether one feels it is worth and affordable to pay 34k for a 10year old premium vehicle over a 10 year old BnB vehicle. Everyone has a different answer.

Someone who renews his COE instead of buying a new car can be considered as a prudent type. In this case, he is more likely to scrap the expensive car. Forking out 54K is painful compared to 20K - and this is for something you have already owned to begin with - so to speak. 

This is coming from my experience of paying 32K to renew 5 years of COE for one of my previous cars.

 

It's a different story if you do not own any car, and one Mercedes with freshly renewed 10-yr COE can be had for 54K and another Nissan Sunny costs 20K. In this case, many would probably buy the Mercedes since the difference is only 3,4K per year.