2015 Oct, 2nd COE Bidding Exercise

[flashbang]

Thank you everyone. Here's hoping that my AD bid a decent price as the rebate is 52k.

 

Fingers crossed. Can't get details now cos my SE is not working today.

 

You can log in yourself to LTA COE website to check the status of the bid.

[Insaneblu]

OMG thanks so much for the info for checking my bid status. The bid was successful!! My AD set a reserve of 58800. Whew...that's a load off my mind. Was getting anxious about it. Would have preferred a rebate (who wouldn't?) but I'm ok with the price I paid.

 

Thanks again everyone! Can sleep easy now.  LOL

[WoeiSongKeh]

OMG thanks so much for the info for checking my bid status. The bid was successful!! My AD set a reserve of 58800. Whew...that's a load off my mind. Was getting anxious about it. Would have preferred a rebate (who wouldn't?) but I'm ok with the price I paid.

 

Thanks again everyone! Can sleep easy now.  LOL

 

Congrats on the COE.

 

If you are thinking of getting a rebate its usually quite impossible to what I know.

[Spectacular]

in an earlier post, i suggested buying a new but smaller car.  Maybe Lexus ES250 or Volvo S80. Around $180k. $70k difference but you save on road tax $4k per year and maintenance say $2k per year. So total works out to be saving $60k over 10 years. The balance $10k you will recover from the parf of the new car.  For the same $, you get the latest gadgets and still ok for guest entertainment. And peace of mind not having to worry about losing the scrap value of $51k at one go, not getting comprehensive insurance and getting three year new car warranty.

 

Renew it if you have a driver and sit in the back or your guest need big car with status, in which case, they sit at the back and you become the driver.  Renew it too if you are a sentimental person or a risk taker.

 

 

Thanks to all your responses.. I really appreciate it and have learnt much.

[Cheeky]

OMG thanks so much for the info for checking my bid status. The bid was successful!! My AD set a reserve of 58800. Whew...that's a load off my mind. Was getting anxious about it. Would have preferred a rebate (who wouldn't?) but I'm ok with the price I paid.

 

Thanks again everyone! Can sleep easy now. LOL

The AD knows how much they want to bid for you and price the car at the price. The rebate is for show only. Most rebate are set at unrealistically low level. But I have found BM to typically price it around 4-6 K below the strike price which I think they are quite reasonable.

[Andrewtankw]

Yap. I had gave up looking at used car because the selling price just don't make sense..

 

Wow.  That's really very enlightened. 

Really difficult to make such a move as its a difficult choice for most to make.. 

Difficult to downgrade if not forced to do so. 

[Voodooman]

Yes I seldom use it as I have it for weekends and for guest entertainment. The road tax is about 4000 and will go to a max of 6000 if I renew and it will go up steadily.

 

The scrap value is 51K. If I pay the Quota Premium, it is then 111K. The new BMW 730LI will cost about 400K with a depreciation of about 35K.

 

So should I renew it?

Unless you need to continue to drive a big ass towkay car, you should buy new BMW 520 or E200.

 

$111k + 20k more in maintenance over 10 years + $40k more in 10 years of road tax + $15k more for 10 years of fuel cost (9km/l versus 6 km/l) + parf of new car of say $20k + $10k for shiok feeling of driving a new car + $1k free road tax for first year + $2k for 4 new tyres + $5k free servicing = $224k.

Edited October 21, 2015 by Voodooman

[Pynch]

Unless you need to continue to drive a big ass towkay car, you should buy new BMW 520 or E200.

 

$111k + 20k more in maintenance over 10 years + $40k more in 10 years of road tax + $15k more for 10 years of fuel cost (9km/l versus 6 km/l) + parf of new car of say $20k + $10k for shiok feeling of driving a new car + $1k free road tax for first year + $2k for 4 new tyres + $5k free servicing = $224k.

$224k + peace of mind = priceless 

[Newbie26]

Unless you need to continue to drive a big ass towkay car, you should buy new BMW 520 or E200.

 

$111k + 20k more in maintenance over 10 years + $40k more in 10 years of road tax + $15k more for 10 years of fuel cost (9km/l versus 6 km/l) + parf of new car of say $20k + $10k for shiok feeling of driving a new car + $1k free road tax for first year + $2k for 4 new tyres + $5k free servicing = $224k.

 

 

couldnt agree more

 

But sometimes it is not about $$$ or Sense. 

 

For some, an old car esp one that has been serving the owner well and pampered for a decade, there is an emotional attachment or an old car which has a special meaning/connection. 

 

In such situations, these override the $$$ and other concerns.

 

Have a friend who cried   on the day her old car had to be scrapped.

 

For personal choice, would pay for a slightly smaller brand new car (yes 5 series or E series would be very nice) and save all the worries

[Spring]

Not true.

 

My rebate level is only $45k but AD bid for me today at $61,599 so it was successful. This was first round of a 6 bid non guaranteed package and car not arriving until mid/end of November so i was surprised they bid so aggressively. I thought prices were trending downward but this seems to indicate they expect prices to rise...

Mind sharing which car u bought, thanks n congrats on securing your COE!

[Cheeky]

couldnt agree more

 

But sometimes it is not about $$$ or Sense. 

 

For some, an old car esp one that has been serving the owner well and pampered for a decade, there is an emotional attachment or an old car which has a special meaning/connection. 

 

In such situations, these override the $$$ and other concerns.

 

Have a friend who cried   on the day her old car had to be scrapped.

 

For personal choice, would pay for a slightly smaller brand new car (yes 5 series or E series would be very nice) and save all the worries

As I will be collecting my new Altis next Friday, my wife and I still feel a bit sad to part with our current ride (06 Altis).  It has been a trusted and reliable companion for the last 8 years (bought 2nd hand) and has never given any breakdown and problem.  That is why I continue to buy its descendent.

[Blackyv]

The advice you have gotten so far is from a middle-class person point of view. If I were to share mine too, I would say scrap it and buy a new car that's slightly smaller.

 

But if I were to imagine I was someone in a similar status as you, then I would simply renew it. 111k is a steal for a 740 li, even if it's an old model. It's still pretty luxurious for passengers (how much better can leather seats get?), at most I lose out on some of the cool features and gadgets in the newer car models. It's probably my spare car as well, so I'm still enjoying a modern ride as my daily driver. Maintenance may go up but for a car that's driven 5000km per year, that's half the mileage of a low mileage driver and 1/3 the mileage of the average driver. 

 

i dont agree.. if im of similar status, i will not want to drive an old model, no face you knnow... scrap it buy new 7 series ...

[flashbang]

i dont agree.. if im of similar status, i will not want to drive an old model, no face you knnow... scrap it buy new 7 series ...

Haha, he is in the rich-but-not-too-rich category la... he also acknowledged 400k for a new 7 series is a bit tough. In that case I think old 7 series still good to go.

 

Of cos if it's me I'll scrap and buy a cheap "luxury" car... Maybe a Genesis...

[Amazon777]

Hi I would to ask the experts here should I renew my 10 year old BMW 740 li with s mileage of only 55k km or should I scrap it ..its up in November 2015 next month..thanks for advice..

Better Scrap it. Late last year, I scrap my 10yrs old BMW e60 in very good condition. Doesn't make sense to forfeit my $30k PARF +$68k PQP. Bimmer gearbox and wear and tear items $$.

 

Ended up "downgrade" to a 2008 C180K. I've plans to renew COE PQP in 2018, hoping for $40k PQP. If it does materialise, annual dep $6k for 10yrs drive.

 

Or take your $110k and top up a bit for a brand new camry @ $130k++. Nothing beats brand new car and worry free drive. Just last night my friend nissan sunny stalled during peak hr evening in shenton way. Gearbox cannot engage, he swear to sell his 9yrs old Sunny soon after repaired.

Edited October 22, 2015 by Amazon777

[Penknife]

Better Scrap it. Late last year, I scrap my 10yrs old BMW e60 in very good condition. Doesn't make sense to forfeit my $30k PARF +$68k PQP. Bimmer gearbox and wear and tear items $$.

 

Ended up "downgrade" to a 2008 C180K. I've plans to renew COE PQP in 2018, hoping for $40k PQP. If it does materialise, annual dep $6k for 10yrs drive.

 

Or take your $110k and top up a bit for a brand new camry @ $130k++. Nothing beats brand new car and worry free drive. Just last night my friend nissan sunny stalled during peak hr evening in shenton way. Gearbox cannot engage, he swear to sell his 9yrs old Sunny soon after repaired.

repair liao still sell?

[Akszaksz]

congrats!!! you got a good deal, definitely! Since it's gtd bid, the higher the better...

 

Thanks bro!

[Vinceng]

Better Scrap it. Late last year, I scrap my 10yrs old BMW e60 in very good condition. Doesn't make sense to forfeit my $30k PARF +$68k PQP. Bimmer gearbox and wear and tear items $$.

 

Ended up "downgrade" to a 2008 C180K. I've plans to renew COE PQP in 2018, hoping for $40k PQP. If it does materialise, annual dep $6k for 10yrs drive.

 

Or take your $110k and top up a bit for a brand new camry @ $130k++. Nothing beats brand new car and worry free drive. Just last night my friend nissan sunny stalled during peak hr evening in shenton way. Gearbox cannot engage, he swear to sell his 9yrs old Sunny soon after repaired.

 

 

The C180 probably cost you $65K, or an annual dep of $15K.

 

Depends on personal preference, whereby if you don’t mind a downgrade to  a Jap / Korean saloon, like the Nissan Almera 1.5A  (interior space beats C180 hands down) or Kia Forte 1.6A (slightly more spacious than C180) for about $97K, annual dep is only $9K per annum.

 

But if you are used to  driving a continental car, might need some adjustments to driving a Kimchi or Asian assembled make. 

[cmdsea]

Mind sharing which car u bought, thanks n congrats on securing your COE!

 

Forester. non turbo

 

Big and spacious and liked the large sunroof. Seems a lot of car for $113.8k...