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Selling car 6 months before due or Scrap?


Heluim
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(edited)

Hi BenTong,

im doing corporate sales, with proper planing can see clients in one or two district per day

eg cover north on mon, south on tue, east on wed, west on thu & central on fri...

hence my mileage is only 123k for an almost 10 yrs old car...

 

Hi Nzy,

I cant scrap and try living without car coz it's my work requirement...

 

Hi Camrytron,

i agree with u, 120-130 for a civic is an overkill.

Any suggestions? Mazda 3 etc?

 

 

 

 

Edited by Athrin
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I would renew my COE if my car has only 123k mileage.

Change your W&T part for civic is not expensive. There are so many distributors carry Civic parts such as MingGhee, JAE auto etc. Additional, FD model has very good design by Japan. 

I suggest you renew COE and drive for time being. Take time to sell with renew COE should not cause you too much financial problem. Change your leather seat and enjoy the good soft feel and smell.

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Hi Tcx607,

 

If renew 10yrs is 57,800, depreciation is 5,780 (if drive entire 10yrs)

If renew 5yrs is 34,050, depreciation is 6,810 (if drive entire 5yrs)

 

Will u renew 5 or 10ys?

 

 

I almost 90+% will buy a new car within 1yr.

During this 1yr, if Coe drop to 30-40k & i commit to buy a new car,

will i lose alot as AD may only take in at paper value?

Even if i sell on SgCarMart, will there be demand for my manual civic

 

PS: so far SgCarMart only seems to be selling renew 5yr civic & did see any selling renew 10yr civc

 

tks
 

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Hi Tcx607,

 

If renew 10yrs is 57,800, depreciation is 5,780 (if drive entire 10yrs)

 

If renew 5yrs is 34,050, depreciation is 6,810 (if drive entire 5yrs)

 

Will u renew 5 or 10ys?

 

 

I almost 90+% will buy a new car within 1yr.

During this 1yr, if Coe drop to 30-40k & i commit to buy a new car,

will i lose alot as AD may only take in at paper value?

Even if i sell on SgCarMart, will there be demand for my manual civic

 

PS: so far SgCarMart only seems to be selling renew 5yr civic & did see any selling renew 10yr civc

 

tks

 

 

One possible way is to renew for 10 years. After 1 year of driving, pro-rated COE left is around 42k.

 

You can then sell it for 42k + 10k (your PARF that you forfeit) = 52k. 52k for a car with 9 years left is a super bargain (5.7k/year) and your phone will be ringing non-stop.

 

Hence, you can probably sell it for 60k or even 70k and pocket some extra profit. Of course your vehicle should be in good condition.

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Turbocharged

Given a choice, I would renew COE.

 

Manual cars are almost extinct, and are cheaper to maintain than automatic.

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Hi flashbang,

 

Pai seh, need to ask again,

if renew for 10 years, after 1 year of driving, is it possible to sell at a ' fair breakeven price' due to manual transmission...

 

tks

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Hi flashbang,

 

Pai seh, need to ask again,

if renew for 10 years, after 1 year of driving, is it possible to sell at a ' fair breakeven price' due to manual transmission...

 

tks

Definitely possible if you are selling to direct buyer. For sale to agent.. Not really.
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Moderator

Hi all,

 

I will buy a new car within 1yr,

But can't decide to renew Coe or buy left one yr civic or to rent car for one yr

 

damm sian when KM sales supervisor say new 2016 civic wil cost 120-130k at current Coe levels

 

Apr PQP is 47,500

My parf is 10.3k.

 

If renew 10yrs is 57,800

depreciation is 5,780 (if drive entire 10yrs)

 

If renew 5yrs is 34,050

depreciation is 6,810 (if drive entire 5yrs)

 

depreciation of a left one yr civic is fr 10k+ onwards…

 

Pros of renew 10yr is lower depr compared to renew 5yr.

Cons of renew 10ys is harder to sell coz higher upfront cost for buyers

 

Since I will buy a new car within 1yr, should I scrap & buy a left one yr civic?

Or renew coe? If renew, should renew 5 or 10yrs?

Or rent car for one yr?

 

many tks

 

Current ride: Civic FD1manual

Registered 26 Apr 2006

original Kah Motor fitted Mugen Kit

123,000km

Scrap body value estimated $500 - 1000+ ?

 

 

first of all learn to SEARCH...tons of threads here that ask the SAME thing....

 

in future this will warrant a warning.

 

merged threads

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Hi flashbang,

 

Pai seh, need to ask again,

if renew for 10 years, after 1 year of driving, is it possible to sell at a ' fair breakeven price' due to manual transmission...

 

tks

Your worry is not unfounded. You ask many here and of course they say everything will be fine, cos it's not their problem.

 

You have to make the call yourself with all the informed consent. Again, your risk is there if you renew.

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Hi BenTong,

im doing corporate sales, with proper planing can see clients in one or two district per day

eg cover north on mon, south on tue, east on wed, west on thu & central on fri...

hence my mileage is only 123k for an almost 10 yrs old car...

 

Hi Nzy,

I cant scrap and try living without car coz it's my work requirement...

 

Hi Camrytron,

i agree with u, 120-130 for a civic is an overkill.

Any suggestions? Mazda 3 etc?

Mazda 3 or k3 oso good car..price won't be ridiculous like kah motor too.

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Hi all,

 

I will buy a new car within 1yr,

But can't decide to renew Coe or buy left one yr civic or to rent car for one yr

 

damm sian when KM sales supervisor say new 2016 civic wil cost 120-130k at current Coe levels

 

Apr PQP is 47,500

My parf is 10.3k.

 

If renew 10yrs is 57,800

depreciation is 5,780 (if drive entire 10yrs)

 

If renew 5yrs is 34,050

depreciation is 6,810 (if drive entire 5yrs)

 

depreciation of a left one yr civic is fr 10k+ onwards…

 

Pros of renew 10yr is lower depr compared to renew 5yr.

Cons of renew 10ys is harder to sell coz higher upfront cost for buyers

 

Since I will buy a new car within 1yr, should I scrap & buy a left one yr civic?

Or renew coe? If renew, should renew 5 or 10yrs?

Or rent car for one yr?

 

many tks

 

Current ride: Civic FD1manual

Registered 26 Apr 2006

original Kah Motor fitted Mugen Kit

123,000km

Scrap body value estimated $500 - 1000+ ?

Bro,

 

When you calculate your depreciation, don't forget to include "loss" of PARF.

 

If you have the money, renew 10 years.

 

You car has low mileage. And manual. It may be more worth it to renew

 

Chris

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(edited)

Hi Tcx607,

 

If renew 10yrs is 57,800, depreciation is 5,780 (if drive entire 10yrs)

 

If renew 5yrs is 34,050, depreciation is 6,810 (if drive entire 5yrs)

 

 

If nothing wrong, can renew, but be prepared to scrap and get back prorated COE amount if COE drops drastically... 

Edited by Aukang
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(edited)

Hi Athrin,

Since you're almost sure to buy a new car, it's better to scrape/sell your car before COE expiry.

No point harp over to renew the COE.

At the same time, see the tread if someone letting go with 1 yr left validity car in SGcarmart for a good deal.

Thereafter, you have 1 yr to wait and choose your new ride.

Edited by Tcx607
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Bro,

 

When you calculate your depreciation, don't forget to include "loss" of PARF.

 

If you have the money, renew 10 years.

 

You car has low mileage. And manual. It may be more worth it to renew

 

Chris

Hi Chris,

 

u mentioned when i calculate depreciation, don't forget to include "loss" of PARF.

Im not sure what u mean...

can you help to calculate depreciation when i renew 10yrs & 5yrs base on my info below? tks

 

Apr PQP $47,475

Min parf $10,293

Scrap body value estimated $500 - 1000+ ?

 

tks

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Hypersonic

Hi BenTong,

im doing corporate sales, with proper planing can see clients in one or two district per day

eg cover north on mon, south on tue, east on wed, west on thu & central on fri...

hence my mileage is only 123k for an almost 10 yrs old car...

 

Hi Nzy,

I cant scrap and try living without car coz it's my work requirement...

 

Hi Camrytron,

i agree with u, 120-130 for a civic is an overkill.

Any suggestions? Mazda 3 etc?

You don't have much time for decision on your current ride expiring on 26 Apr 2016.

 

1) scrap your current ride

2) take taxi for work, I believe company provide you transport allowance

3) wait for COE to fall significantly is speculative, what will you do if it doesn't happen?

4) there are equally good car around like teana, madaz 6,and etc.

 

Unless die die must have civic, get a new ride soon and your headache over. Good Luck!

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(edited)

Hi Chris,

 

u mentioned when i calculate depreciation, don't forget to include "loss" of PARF.

Im not sure what u mean...

can you help to calculate depreciation when i renew 10yrs & 5yrs base on my info below? tks

 

Apr PQP $47,475

Min parf $10,293

Scrap body value estimated $500 - 1000+ ?

 

tks

 

I think it is like this:

 

Renew 10 years

 

PQP: $47,475

PARF: $10,293

Body: $500 (assume only)

Total: $58,268

 

Yearly depreciation = $5,827 ($58,268/10)

 

Renew 5 years

 

PQP: $23,738 (50% of $47,475)

PARF: $10,293

Body: $500 (assume only)

Total: $34,531

 

 

Yearly depreciation = $6,906 ($34,531/5)

 

If so, it is still better to renew COE because in the used car market now, you almost cannot find any car with such low depreciation. Those that are of left with 1 year are now mostly calling for depreciation of > 9-10k per year, so no point buying another old used car (and not forgetting major issues with the car)

 

Also, since u very confident to change car within next 1-2 years, just renew 5 year COE. And it is not you have only 1 option to sell the renewed car to another buyer. You can also scrap it earlier and still get a pro-rated refund of the COE renewed.

 

Say for example, if u renew 5 year and pay PQP $23,738. Should u decide to scrap after 1 year, you should get back around $18,990 => balance 4 year COE refunded. Hope my understanding from One Motoring website is correct.

Edited by Sci10213
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