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COE expiry soon.. Buy used or new Car?

Guanleng

By Guanleng,
in General Car Discussion

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Guanleng

Guanleng

Clutched

Hi ,

 

My current CAR COE expiring soon in Aug 2015 .

 

I'm considering one of 3 following options :

 

1. Buy a new car with High COE

2. Buy a 2-3 used car , and buy new car in 2017 .

3. Give up driving for the time being , and buy new car in 2017

 

Any suggestion ? or anyone selling their 7-8 years old car ?

 

Thanks .

 

 

 

 

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MQX87511

MQX87511

5th Gear
(edited)

Hi ,

 

My current CAR COE expiring soon in Aug 2015 .

 

I'm considering one of 3 following options :

 

1. Buy a new car with High COE

2. Buy a 2-3 used car , and buy new car in 2017 .

3. Give up driving for the time being , and buy new car in 2017

 

Any suggestion ? or anyone selling their 7-8 years old car ?

 

Thanks .

 

 

 

 

highly depends on how is your life style,

if you can survive without car, of course give up driving,

otherwise buy new car now,

don't think 2017 coe will lower than now, especially that time GE already finished

Edited by MQX87511
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MQX87511

MQX87511

5th Gear

my car coe expire in Jun'15....

 

renew 5yrs coe to tahan first....

 

see mkt condition in 2020....

you'r totally wrong, 2020 another coe dry season cyc back,

coe price will sky high

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Guanleng

Guanleng

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  • Author

my car coe expire in Jun'15....

 

renew 5yrs coe to tahan first....

 

see mkt condition in 2020....

 

 

Renewing 5 year CEO cost around 30k , and the parf rebate i can get back by year 10 is around 10k ..

 

Don't think this is a good option as the depreciation of 8k for the next 5 years ...

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Batlim

Batlim

1st Gear

2 units of our vehicles will be due soon - so only choice is to renew the COE. Both have been well maintained, thus easier to make this decision. We need the vehicle for our work ....

 

cheers

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Andyngps

Andyngps

5th Gear

you'r totally wrong, 2020 another coe dry season cyc back,

coe price will sky high

Agreed. If garment din implement ocs. By now we are only guessing even that coe will come down by 2017. What if it only comes down 10k or less from now? Anyway if you renew, if coe really crashes, you can still scrap and get back unused portion. But if you use till 2020 and coe will prob be high then, you cannot renew anymore and prob got to stick to bmw or used cars if you do not want to spend that kind of moolah.

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Guanleng

Guanleng

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cannot lah, this kind of rare model, maintenance cost will kill you

 

Can repair /service in JB ? lol ...

 

I intend to drive to the end of 10 years ... the depreciation less than 8k per year ..

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Vinceng

Vinceng

Turbocharged
(edited)

I notice many car owners have, or intend to renew COE for 5 yrs.

 

This is the most unwise decision. Once you renew COE for 5 yrs, PARF or scrap value is forfeited, and you cannot extend COE again.

 

Either scrap or renew 10 yrs. At the 5th yr, if you plan to sell your car, very likely you can get back more than paper value in the resale mkt.

Edited by Vinceng
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13177

13177

Supersonic

Guess many car owners renew COE for 5 years, cause they can only afford to pay half of the current COE amount in full cash?

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Watwheels

Watwheels

Supersonic

http://news.asiaone.com/news/singapore/more-small-car-owners-renewing-coes

 

See this trend? We will see more car owners doing this. We will get to see how many are waiting in the sidelines for the "COE price to drop". There will also be wait for "GE goodies". Wait for "COE to recycle" whatever that means. Wait and see. Wait long long. LoL...

 

White paper population in 2020 will hit 6mil and 7mil in 2030. Even though by dan train rail networks have expanded so will the increasing demand for cars. Vehicular population hit 1mil and will be projected to increase by 0.25% annually. Be it foreigners, existing car owners, ppl who want to change car, newbies who have got their license, buy or lease a car, they will need a coe for their car. Even if there's a sudden big supply of coe all these ppl waiting will rush in like lelong lelong and might drive the prices even higher. Annual projection of 0.25% increase of cars or only 2,500 cars a year.

 

Before this year's budget ppl waited and see whether got car goodies. While waiting coe price dropped and bidding took a breather but after budget announcement on petrol duty increase coe prices bounce back and now ppl are rushing before the increase of CEV surcharge on big cars. Now why is gahment making things difficult for car buyers? I expect more of such restrictive policies in the coming budgets to curb car buying.

 

IMO last year was actually a good time to buy. I would rather look at facts and what gahment is trying to do dan speculate that 2017 will be a good time to buy. Those who is going to deregister their cars when coe is going to expire will be planning the same thing as you, buy new/renew/buy used etc. How to expect coe price to drop?

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Angcheek

Angcheek

Hypersonic

you'r totally wrong, 2020 another coe dry season cyc back,

coe price will sky high

 

roughly next GE

I notice many car owners have, or intend to renew COE for 5 yrs.

 

This is the most unwise decision. Once you renew COE for 5 yrs, PARF or scrap value is forfeited, and you cannot extend COE again.

 

Either scrap or renew 10 yrs. At the 5th yr, if you plan to sell your car, very likely you can get back more than paper value in the resale mkt.

 

true ....... not sure how many can afford though.......

 

if they can afford that kind of $ , they can get a new car

I'm keen to buy this Alfa Romeo 166 3.0A at 43k .

 

It is a reliable car and good bargain ? :)

 

http://www.sgcarmart.com/used_cars/info.php?ID=435836

 

 

 

I like the way you think ! Brave man !

 

omg.jpg

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So_nice

So_nice

6th Gear

Some not enough cash, some believe coe will drop by then. Tbh, the only best option for renewal is 10 yrs. 5 yrs is the most bo hua deal. (Not worthwhile deal*)

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Batlim

Batlim

1st Gear

Some not enough cash, some believe coe will drop by then. Tbh, the only best option for renewal is 10 yrs. 5 yrs is the most bo hua deal. (Not worthwhile deal*)

 

After the first 5year COE renewal, we can renew for another 5 years right? I think it is just to conserve cash especially if the COE is high. :D

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So_nice

So_nice

6th Gear

 

After the first 5year COE renewal, we can renew for another 5 years right? I think it is just to conserve cash especially if the COE is high. :D

Cannot lah bro. U can only scrap after tat. Unless u're talking abt commercial vehicles

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