COE expiry soon.. Buy used or new Car?

[Mkl22]

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.

Depends on what car and the market situation then. Some are very very difficult to sell on.

[Batlim]

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

 

Noted - one of my vehicle is a Fiat Doblo - so can !!! - the other is a Honda Jazz - cannot

[Alheych]

This issue has been discussed to death on this forum, but there has never been any conclusion. To be sure, I'm not saying it isn't worth discussing - I am in a similar situation myself, with a car expiring this September.

 

The key thing is, there is really no one single answer to any question of "buy new, buy used, or renew". It depends on your own needs. Like what some bros have already mentioned, you need to consider if you are the kind who can tahan life without a car. If you cannot tahan, you'll have to buy one no matter how expensive it is. Then it's just a matter of how much less can you spend (with depreciation being the bulk).

 

Although renewing COE for 5 years will mean you can't get back anything at the end of it, it may well be the only means to drive a car at a reasonable outlay for the next 5 years. That it doesn't work for you doesn't mean it doesn't work for others, with different considerations (eg car condition, low OMV, really cannot afford 10 years). The choice is there, and whether to take it up is personal.

 

One thing we can all agree on - don't get the Alfa Romeo 166. If you're eyeing it just because of the low depreciation and not because you're serious about an Alfa, you'll end up paying a lot more that you're prepared to - be it in terms of repair costs, time lost, or the loss when you re-sell the car again.

[HappyDriver24]

just pay the PQP, coz u know how good ur car is...if its bad just scrap it....

 

u haf to forego the scrap value but if the value is low its still ok....

 

if in future..for watever reason the coe dips a lot..just deregister ur car and collect back the balance of the coe value.....

 

now if u buy new car also the final scarp value is pathetic...ard 4-5k for a normal jap car...after july some cars scrap value is only 2k +

 

 

true theres no direct answer...only u know wats best for u

[Watwheels]

So what it's discussed to death? LoL...

 

There will be more asking the same question. Repeating what favours them but not look at the big picture. There are also those who live in a cave or bottom of the well. Just the other day I overheard an unker buy car, he was shocked that he has to pay 40% upfront for the car he's interested in. So what he did? He took the $0 option which is leasing.

 

In actual fact a lot of car buyers are totally ignorant. You would think their maths fail who dunno how to do their sums, live in a world of their own coz they know nothing on the restrictions. Whether boh hwa or boh lui there will be those who will take the $0 option like I mentioned earlier. Even if the SE do the math for them to compare it won't matter much as long as got car can already. They don't need to know the details. Just tell them how much to pay each month.

 

It's the same here. Ppl will come in and ask the same thing over & over, "COE expiring soon...how ah? Help!". They have max out of their mental capacity to decide what to do next. They are looking for a short answer to their problem. Do you think they want to know the details? IMO, no coz if they knew they would have come out with their own answer.

 

For those who are pretty sure that GE will give you goodies you can lease short term maybe til next year dan you decide. If no goodies you won't be so ai wan like those who committed in some way. Short term commitment you can walk away anytime. You can even get to drive a different car depending on your budget. Can even tahan to year 2017 when "it's a good time to buy". Even if it's not you can take your time on what to do next.

Edited April 23, 2015 by Watwheels

[Matrix0405]

Wah, so low ! What is the scrap value of Altis? And what is the value of post-July Altis? 10 yrs later, can see many ppl holding on to their old cars.

[Cheefarn]

The best is to scrap at the 10th year and take BMW lor...

 

Bus, MRT, walk. No, bus and MRT fares are not cheap either, $40 EZ Link card value can only last you for about 10-11 days on average.

 

Its like this de la. We are living in the world most expensive country. Naturally we have super expensive public transport too.

 

You need to be FTs to be able to travel ard SG comfortably and quickly... for sinkies get stuck on MRT and shut up la.

 

Wanna save $$? Try cycling... LOL

[Sunny]

what happened yesterday evening 6pm after?

heard over radio, so many cars breakdown (at least 5~6 cars?)

 

coe ending, all not servicing their cars?

 

caused so much traffic jam yesterday haiz...

[Quantum]

The best is to scrap at the 10th year and take BMW lor...

 

Bus, MRT, walk. No, bus and MRT fares are not cheap either, $40 EZ Link card value can only last you for about 10-11 days on average.

 

Its like this de la. We are living in the world most expensive country. Naturally we have super expensive public transport too.

 

You need to be FTs to be able to travel ard SG comfortably and quickly... for sinkies get stuck on MRT and shut up la.

 

Wanna save $$? Try cycling... LOL

for me car not only as transport tool, but also a portable office and storeroom,

laptop, documents, product catalogs, sports shoes, swimsuit, tennis racket, etc all throw in boot, anytime can use,

if without car, have to change work and life style, quite difficult

[zerobim08]

The best is to scrap at the 10th year and take BMW lor...

 

Bus, MRT, walk. No, bus and MRT fares are not cheap either, $40 EZ Link card value can only last you for about 10-11 days on average.

 

Its like this de la. We are living in the world most expensive country. Naturally we have super expensive public transport too.

 

You need to be FTs to be able to travel ard SG comfortably and quickly... for sinkies get stuck on MRT and shut up la.

 

Wanna save $$? Try cycling... LOL

 

Our public transport fare is probably much lower than you think compared to other countries.

[Cheefarn]

for me car not only as transport tool, but also a portable office and storeroom,

laptop, documents, product catalogs, sports shoes, swimsuit, tennis racket, etc all throw in boot, anytime can use,

if without car, have to change work and life style, quite difficult

This is why papsters can continue to ridicule sinkies that we are lazy and unproductive.

 

They will say why don't you look at FTs? Why can they succeed in SG in such short time?

 

 

South Pacific University...Mumbai university.... shhh.... keep quiet... sinkies are not supposed to discuss that.. We need to respect these FTs...

[Cheefarn]

 

Our public transport fare is probably much lower than you think compared to other countries.

 

Ah that's typical papsmear speak... completely ignoring the fact that many 1st world other countries offers cheap and even free public transport to their poor and need citizens.

 

And their citizens uses mthly travel passes which allows them UNLIMITED train and bus rides.

 

And finally how much is their average monthly salary as compared to us? We have the lowest mthly salary (if you - those elites and MPs) among developed countries, yet we managed to be the world most expensive country to live in... Great job...

[zerobim08]

 

Ah that's typical papsmear speak... completely ignoring the fact that many 1st world other countries offers cheap and even free public transport to their poor and need citizens.

 

And their citizens uses mthly travel passes which allows them UNLIMITED train and bus rides.

 

And finally how much is their average monthly salary as compared to us? We have the lowest mthly salary (if you - those elites and MPs) among developed countries, yet we managed to be the world most expensive country to live in... Great job...

 

I think you should take your political tirade to other forums. It stinks in a car forum.

 

btw: Are you saying singapore public dont have monthly passes? :p

[BobbyTan_74287]

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 .

 

 

 

 

 

At first I intend to renew COE for 5 years for my Mazda5. But after doing some calculation on the road tax, insurance, maintenance and fuel consumption, I decided to buy a new car which got free servicing for first two years, fuel consumption lower. And after paying for 5 years loan, the car is mine for another 5 years.

I did have the intention to buy a used car. But the current used car price is really too high. If you calculate the price by 10 years, most used car is higher than new car by $10k to $20k.

Thought of giving up driving but my wife company at Tuas which is still inconvience to go by public transport.

[Nissan833]

Everytime COE topic, there will definitely be one clown who wants to bring politics and govt. hate into the thread

 

Use that time to earn more money and be more productive lah

[Dragonl]

 

Noted - one of my vehicle is a Fiat Doblo - so can !!! - the other is a Honda Jazz - cannot

 

Bro, I thot u towkay leh. No problem for u. haha

[Dragonl]

So what it's discussed to death? LoL...

 

There will be more asking the same question. Repeating what favours them but not look at the big picture. There are also those who live in a cave or bottom of the well. Just the other day I overheard an unker buy car, he was shocked that he has to pay 40% upfront for the car he's interested in. So what he did? He took the $0 option which is leasing.

 

In actual fact a lot of car buyers are totally ignorant. You would think their maths fail who dunno how to do their sums, live in a world of their own coz they know nothing on the restrictions. Whether boh hwa or boh lui there will be those who will take the $0 option like I mentioned earlier. Even if the SE do the math for them to compare it won't matter much as long as got car can already. They don't need to know the details. Just tell them how much to pay each month.

 

It's the same here. Ppl will come in and ask the same thing over & over, "COE expiring soon...how ah? Help!". They have max out of their mental capacity to decide what to do next. They are looking for a short answer to their problem. Do you think they want to know the details? IMO, no coz if they knew they would have come out with their own answer.

 

For those who are pretty sure that GE will give you goodies you can lease short term maybe til next year dan you decide. If no goodies you won't be so ai wan like those who committed in some way. Short term commitment you can walk away anytime. You can even get to drive a different car depending on your budget. Can even tahan to year 2017 when "it's a good time to buy". Even if it's not you can take your time on what to do next.

 

Uncle most proably just want a car to use wihtout the hassle of paying for road tax and servicing. Got car to use can liao, just need to pay for carpark.

[Forte3737]

Correction. Its more than 1 clown. Some of the issues are

 

1)Election coming. Prices will surely drop. Come on lah....Who are we kidding. With the limited supply of quotas and high replacement demand, only fools will believe the above logic

 

2)Vote the PAP out. Another one of those non sensical remarks. If they are out, what makes you so sure that the new party will bring down coe prices. Foolish thinking.

Everytime COE topic, there will definitely be one clown who wants to bring politics and govt. hate into the thread

 

Use that time to earn more money and be more productive lah