What make and model worth renew COE after 10 years

[Hamburger]

Spare parts for some conti makes like Mercedes E class W124, W211 and W212 can be cheaper than some Japanese makes.

 

That's why you see many COE Mercedes running on the road as compared to the BMW 5 series E60 and F10.

I owned few series and I can tell you most Beemer parts are not expensive.

[Vinceng]

I owned few series and I can tell you most Beemer parts are not expensive.

Surprised to hear that.

 

Probably the stubborn electronics that are the key issues ?

Edited May 5, 2019 by Vinceng

[Ct3833]

Spare parts for some conti makes like Mercedes E class W124, W211 and W212 can be cheaper than some Japanese makes.

 

That's why you see many COE Mercedes running on the road as compared to the BMW 5 series E60 and F10.

The other thing is one can search for specific Mercedes fault and repair in the internet, but it is not easy to find similar for Japanese makes because the local models here may not be the same as those of Europe and surely , not US.

[Hamburger]

Surprised to hear that.

 

Probably the stubborn electronics that are the key issues ?

Other than the gaskets, the electronics are the least of your concern.

[Ct3833]

Other than the gaskets, the electronics are the least of your concern.

If gasket is a known problem ,I would rather replace it proactively ahead regularly, hopefully we are taking about a few years of life span.

[Duststorm]

Brands like Chevrolet, Chrysler, Fiat, and certain models like the Ford Focus are no longer selling brand new in Singapore, so spare parts availability may be a little challenge.

 

In terms of annual depreciation, the annual dep of a popular COE car like the Mitsubishi Lancer, Nissan Latio/Sylphy, Honda City, Toyota Vios are similar to the Optra at about $4K per annum.

 

Many of these 2009 cars have a few months to go before scrap and dealers advertise the price with 5 yr COE (they have not renewed COE - advertised with 5 yr COE as lower price makes it easier to sell but annual dep is higher).

 

You can offer to buy with 10 year COE and top up an additional $14K (Cat A PQP is $28K - rounded off for easy calculation - actual amount is $27,886).

 

These are safe buys, because in the worst case scenario if the car turns out to be a lemon and you feel repair costs are not worth it, you can still scrap the car and get back the pro rated COE ($28K PQP) and the scrap value should you make your decision before its 120th month (10th year). At most you lose a few thousand dollars (dealer's marked up price from paper value that you purchased).

 

You can tell the profit margin by taking the paper value (50% x OMV) which ranges from $7K to $9K, add the current Cat A PQP $28K and you will know the cost of the car to the dealer.

 

Most important thing to consider when purchasing a COE car is the availability of spare parts.

 

Good luck in your search.

thanks for advice... will look at other safer brands... 

[Sunset73]

thanks for advice... will look at other safer brands... 

 

If you want cheap and no frills transport, I present to you......... Toyota Vios Manual.

Renewing that car lose minimum money because the scrap value is low anyway.

 

And it is a workhorse. Reliable and fun to drive with the 5 speed manual gearbox.

[Duststorm]

If you want cheap and no frills transport, I present to you......... Toyota Vios Manual.

Renewing that car lose minimum money because the scrap value is low anyway.

 

And it is a workhorse. Reliable and fun to drive with the 5 speed manual gearbox.

haha... i'm a one legged driver (3A only).. somehow i dun like the position of the meters at the center...

[Volvobrick]

If you want cheap and no frills transport, I present to you......... Toyota Vios Manual.

Renewing that car lose minimum money because the scrap value is low anyway.

 

And it is a workhorse. Reliable and fun to drive with the 5 speed manual gearbox.

 

You must be Scotty Kilmer....

[Sunset73]

haha... i'm a one legged driver (3A only).. somehow i dun like the position of the meters at the center...

 

It just takes getting used to. It's nice to drive. So light and floats while you drive >130km/h on NSH 

[Newsman]

Coe has been on hovering 70k plus and nobody know when it will drop and new car and used car (2L and above) price is still very expensive to certain people even for 2L and below

for those who currently own a car now and the coe going to expire soon and caught in the middle of buying new or used car

but if the currently own car (2L and above) is in good condition and have been service regularly, will be make sense to renew it if just paying 70k plus for the next 10 years as the new/ used car depreciation is above 10k and above for a 2L car

 

 

 

a Friend just trade in his Elantra for $47,000 after buying @ $88K & drove 85,000Km over 3 yrs.  His New Elantra COE $25k & on the Road $69K.  He got this New Car with just $7K top up. Old Finance Company loan was 4%.  New Bank loan onl;y 2.2%.  He is Happy

[VictorTQT]

a Friend just trade in his Elantra for $47,000 after buying @ $88K & drove 85,000Km over 3 yrs. His New Elantra COE $25k & on the Road $69K. He got this New Car with just $7K top up. Old Finance Company loan was 4%. New Bank loan onl;y 2.2%. He is Happy

Congratulations to your friend. He has made a very wise and smart decision.

[Optramagnum]

is Chevrolet Optra Magnum COE car worth considering?

 

 

thanks in advance

I'm driving 2008 Optra Magnum. After owning it for 6yrs,I know its condition well so decided to renew for another 10yrs.

 

Having said that, I doubt it can last that long, most probably will scrap it when it is finally beyond economical repair or no spare part available.

[Vinceng]

a Friend just trade in his Elantra for $47,000 after buying @ $88K & drove 85,000Km over 3 yrs. His New Elantra COE $25k & on the Road $69K. He got this New Car with just $7K top up. Old Finance Company loan was 4%. New Bank loan onl;y 2.2%. He is Happy

He sold his old Elantra for $47K and paid $69K for the new one.

Isn't that a $22K top up?

 

But the new car with $25K COE will have practically non existent resale value so he has to use till scrap.

Edited May 7, 2019 by Vinceng

[Ct3833]

a Friend just trade in his Elantra for $47,000 after buying @ $88K & drove 85,000Km over 3 yrs.  His New Elantra COE $25k & on the Road $69K.  He got this New Car with just $7K top up. Old Finance Company loan was 4%.  New Bank loan onl;y 2.2%.  He is Happy

Assuming all else equal, just base on simple maths, Elenatra PARF =6k:

 

88k - 6k PARF = 82k .........depre per year over 10 years would be 8.2k/year , vs

 

41k( 3 year depre)+ (69k -6k PARF) =  104k........depre per year over 13 years would be 8.0k/year

 

your friend save 2.6k over 13 year on depre.  Maths aside, he gets to drive a new car now at lower interest rate. 

[Ct3833]

He sold his old Elantra for $47K and paid $69K for the new one.

Isn't that a $22K top up?

 

But the new car with $25K COE will have practically non existent resale value so he has to use till scrap.

you are assuming his friend had fully paid up the previous car but in reality may not. The 7k top up might be to meet the 30% down payment, meaning his friend might still have a 70% of the 69k loan for the new car, this is a max case scenario assuming following MAS guideline.

 

....some other 'attractive" scheme might be able to "help" consumer even more. Someone else said one, I no say.

Edited May 8, 2019 by Ct3833

[Vinceng]

you are assuming his friend had fully paid up the previous car but in reality may not. The 7k top up might be to meet the 30% down payment, meaning his friend might still have a 70% of the 69k loan for the new car, this is a max case scenario assuming following MAS guideline.

 

....some other 'attractive" scheme might be able to "help" consumer even more. Someone else said one, I no say.

 

Thanks for the clarification. Many people buy cars nowadays based on the monthly installment payable.

 

They proceed to buy a new car when eth monthly installment can be reduced, but they forget that if they continue to use their existing car, once the 5 year loan is fully paid up, they can use the car for "free" for the next 5 years, instead of being sapped with yet another monthly installment. 

[Othello]

Thanks for the clarification. Many people buy cars nowadays based on the monthly installment payable.

 

They proceed to buy a new car when eth monthly installment can be reduced, but they forget that if they continue to use their existing car, once the 5 year loan is fully paid up, they can use the car for "free" for the next 5 years, instead of being sapped with yet another monthly installment. 

 

of course. Nowadays its all about "monthly-how-much-can-I-fork-out ? "

 

prudence is so yesterday