What make and model worth renew COE after 10 years

[Ct3833]

Thx Ct3833.

 

I was also advising my sister in law to consider trading in her current E class, for a new car if she believes this is more or less the low COE level. But she was trying to lower her car ownership costs too(which is why thinking to extend COE as an option). Maybe one option is to get a new C-class, or A-class or B-class, which is cheaper than her E based on annual depre?

I just use simple maths model to share my thoughts, hope i am not misleading you or anyone here. There is no easy comparison between buying new vs renewing COE.

 

If your sis in law will to change car now, she could sell her 7 years old E Class for about 55k to 60k +-. Taking back about 13k depre return per year, plus getting back the parf. By buying a new car, she would end up no advantage in depre per year. You can try to use the same method i did to do a comparison but remember to knock off the sell price of her E200. I am sure the total cost of ownership(cureent plus new) of buying new car scenario will be more expensive then renewing COE. You have to be mindful that in reality not many people would compute or think this way, most people would just cut loss by selling off existing car, buy a new one and move on. We have to understand that the problem is her existing car is very expensive to begin with, so as long as we add the cost of her existing car into the equation, the total cost of ownership will be expensive no matter how.

 

Buying a B Class may lower the cost of ownership somewhat but a C Class wont come cheap, so it would not help reduce cost of ownership.

The other important consideration is whether she would like the ride of those smaller Merc. I am not saying smaller Merc are no good but the drive, feel and comfort of smaller merc is very different from that of a E class. It is important that she goes test drive to see if she would like it. I myself switch from a E to a C before i switch back to a E now. Though old car, i could feel significant difference even between the C and E.

 

My own thoughts is if she will to rewnew COE, she could wait for at least another year or even till end of her current COE is due for renewal, depending on how fast the PQP is escalating.

If she will to change to a new car, short answer is that now is the time. Because in 3 years time, she would likely to buy into the high COE cycle, it takes a longer explanation to show why.

Edited November 29, 2018 by Ct3833

[aprilfool22]

Benz C series and IS 250 most worth it to renew

 

both going to due COE about 30 plus k or lower

 

PQP about 32k

 

total cost 60 over k to drive 10 years

 

where to find ??

[Mkl22]

I will hold back mainly due to the forfeited PARF if renew now. E Class PARF guess about 30k plus?

 

renewal of COE has nothing to do with PARF. covered this before with @tianmo. hahaha

[Joe25]

Hi all experts just to check with u guys is a Subaru Legacy 2.5 GT worth to renew... mine is a 2009 model not the frameless window model... been maintaining it regularly and all repairs including oil leak has been done recently...

[DJ4eva]

My Wife has the intention of renewing her VW 2009 1.6A Beetle.

 

Need advice from you guys if it is a car that is worth renewing COE for.

 

Thanks!

 

Sorry, maybe I be a bit more specific.

 

Anyone owned a VW beetle before? How much is the engine overhaul and how much are the parts, like air con compressor, engine mount, etc etc? Every little info helps. Thanks again!

I posted this.

 

First of all, thanks for all the valuable advices.

 

I’m informed now why the 2009 beetle should not be renewed for COE.

 

What I don’t understand is why there are still a number of 5 and even 10 years COE-renewed Beetle on sgcarnart? Are dealers prying on ill-informed buyers?

 

Or is there really a market for willing buyers?

 

Finally, is my calculation correct if my wife still insists to renew the COE for the Beetle:

 

$27000 pqp (10-years) based on latest bidding

$10000 lost on “paper value”

*$10000 for ridiculous repairs for the car, like engine overhaul, air con compressors, etc (exluduing the usual maintenance, change of tyres, etc)

Total = $47000 over 10 years

= $392/month?

[Mockngbrd]

 

 

Are dealers prying on ill-informed buyers?

What do you think?

Finally, is my calculation correct if my wife still insists to renew the COE for the Beetle:

$27000 pqp (10-years) based on latest bidding
$10000 lost on “paper value”
*$10000 for ridiculous repairs for the car, like engine overhaul, air con compressors, etc (exluduing the usual maintenance, change of tyres, etc)
Total = $47000 over 10 years
= $392/month?

+ your Road tax loading up to 50% (increments of 10% extra per year up till hit 50% max)

[Albeniz]

Is Cruze a good candidate to consider for COE renewal?

[Ct3833]

Is Cruze a good candidate to consider for COE renewal?

A GOOD car to renew COE is certainly not Cruze. One of the most popular cars is Altis, cheap to maintain, easy to get parts, reliable.

I am very tempting to renew my altis but backside is a little itchy. However, it makes sense to renew COE now from financial point of view, and this is the best time to renew COE. For 35k all in all includinf COE and Parf, one can drive a car for another 10 years. It works out to be $300 per month depreciation, cheaper than taking bus.

[jcchia]

I would prefer to buy new car, looking at the recent downward COE n good deal offer by repective brands.

Brand new car with few years of free servicing n warranty is very attractive.

[aprilfool22]

I would prefer to buy new car, looking at the recent downward COE n good deal offer by repective brands.

Brand new car with few years of free servicing n warranty is very attractive.

 

that ghost without saying

 

if everyone can foot the 30% cash upfront

[Ct3833]

I would prefer to buy new car, looking at the recent downward COE n good deal offer by repective brands.

Brand new car with few years of free servicing n warranty is very attractive.

Certainly true. Buying new car has lots of plus points. But buying new, let's compare Altis, would work out to be about 7k depre per year, whereas renew coe of an altis is about half the price of depre at 3.5k a year. I have been thinking to buy a new car but now I am thinking hard to renew it because of the financial benefits of renewing coe. Edited January 6, 2019 by Ct3833

[tmsan]

Renewing COE you won’t know Financial benefits or Financial liabilities, there are still unknown factors even if renewing own car that has been with u for 10 years

[Privacy]

Benz C series and IS 250 most worth it to renew

 

both going to due COE about 30 plus k or lower

 

PQP about 32k

 

total cost 60 over k to drive 10 years

 

where to find ??

if one were to renew a Mercedes, it has to be E class at least. renewing a C class is not worth it. both 1.8L..same coe cat smaller space etc

[Kia7200]

2yrs + ago, I wanted to renew coe for my picanto. The car so far so good n mileage consider looking.

 

If now the PQP only like 25k now, I sure renew. My parf only $2k plus. So yearly dep is less than 3k, cheaper than taking cab

[Kklim]

Have an early 2010 Sylphy with mileage of just 130K km. Hoping for COE to drop in next 12 months so I can tambah COE.

[Dafansu]

Certainly true. Buying new car has lots of plus points. But buying new, let's compare Altis, would work out to be about 7k depre per year, whereas renew coe of an altis is about half the price of depre at 3.5k a year. I have been thinking to buy a new car but now I am thinking hard to renew it because of the financial benefits of renewing coe.

 

I renewed my Vios 4 years back when COE is in the 70k range. Just for 5 years renewal at 32k.  Already scrapped it in Dec last year with 1 year COE balance till 31 Dec 2019. Good thing is no loan in-between, I just use it as if it's free 

[Roh96]

Renewing the car which you have been driving make sense bcos u know the condition of the car. But if u are thinking of buying a used car to renew coe, better think twice lah.

[Ct3833]

if one were to renew a Mercedes, it has to be E class at least. renewing a C class is not worth it. both 1.8L..same coe cat smaller space etc

You are correct. I happen to switch from a c180 to a e200 CGI, the e200 is a very comfortable and well built car. Somemore the c class consumption is worse than that of e class. I will renew my e class by end of this year for sure. I am still thinking if I should renew the altis as well, not that I have no confidence in altis but more of whether I should own both Coe cars.