Loan for renewal of 5yr COE

[Ody_2004]

Bro, must see wat car/brand/make/model etc. I cannot classify it as a "One size fits all".

 

U already have the 2 numbers there. This is $$ put in ( invested ). So, if u want to take it back, wat do u have to do ?? Only 1 way and 1 answer.

 

For W211 E200 and this 2 numbers. One word " TOUGH". Furthermore, wat is the condition of the car ? 1 owner ? Low mileage ? Fully cycle maintained ? Wat color ? Interior all nice ??

If u need a car, just pay and use. Hope for "Durian" to drop. Chances are low but it's burning $2.8K per year only la. Also, can't say "burn", u using the car mah. Mathematics game la bro...with some logic.

 

If u had a W204 C, den it's pretty much a no brainer !! Coming soon, many Honda Civic Type R ( FD2R ) will be the next.

 

Good luck.

Errr maybe i toopid but I don't see a answer there.

 

I had renewed 3 cars back in 2009 with those $3xxx COE. Yes for these i can "recoup" the PARF as the CoE keep climbing after this magical era.

 

With current COE and seem heading downwards I don't see i can.

 

Maybe you can show me some figure with a say 2007/2008 w204?

[Beehive3783]

10 year renewal is always the best way to go.

 

You mean selling the car for more than PARF + COE renewal prorated during the 11th to 20th year?

 

Hmmm.. I won't use the word "forefeited" la..depends on how individually we look at it.

Then again, for cars on renewed 5 years COE, too bad & good luck. Be prepared to drive finish the 5 years.

Always consider taking a 10 yr renewal, if car condition is ok and finances allow. This is where there may be a change to recoup some of the PARF which was "Invested" into the car. Mathematics game.

Sad to see good cars like Accord Euro R, Toyota altis, WISH, VIos, FD cIvic on 5 yr COE. These cars should have no issue to last 15-20 years. Only truly Singapore where good cars are taken off the roads at the 10 year mark only to benefit drivers from other countries. *Ahem*

 

[Ody_2004]

Exactly bro, just as u mentioned 2009 magic year.

 

No need to give any numbers la, just evaluate yourself. It's pretty much logic.

 

Where got gamble sure to win ?? If so, no need to work already. :)

 

Ya, maybe "gamble" is a better word to put it.

 

All successful businessman would have taken some form of "gamble" risks at any point to get to where they are. Hehehehehe

Yup! I know the game. Won big then when sold these 3 rides.

 

For now i see not worth to place a bet.

[Beehive3783]

I'm just trying to understand what you mean.

 

And that was what I understood from your post.

 

So I guess I'm correct la.

 

Anyway 2.8K is for PARF depreciation from 11th year onwards right?

 

Don't tekan me leh bro !! I got 5 praise points leh hehehe haha :) :)

Can I choose not to answer this question ? Very vague and ambiguous la hahahaha :)

Different strokes for different folks la.. No 1 size fits all !!

Else, just buy new car or resale car lor...the E200 example only $2.8K per year, 1 month only $233. Can't even open 1 bottle Martel at some places !!

I guess, if need to think so hard den this option not suitable. Move on already!! :)

 

Edited January 20, 2017 by Beehive3783

[RadX]

Eh, can you don't mislead people or not?

 

PARF is FORFEITED upon renewal of COE.

dunno where these ppl cum from ..hor @tianmo

[Tianmo]

dunno where these ppl cum from ..hor @tianmo

 

LOL. 

 

I also very blur which timbatuk cave send them over. 

 

Just because Onemotoring show the parf chart, die die means can get back. I give up lah.     

[Bismarck]

LOL. 

 

I also very blur which timbatuk cave send them over. 

 

Just because Onemotoring show the parf chart, die die means can get back. I give up lah.     

 

You must learn from this guy

@Radx

...................... just said limpeh have $$$ and can win liao.................    

[Mahjong74]

Mod / Admin,

 

please delete this post if its not appropriate.

 

I just found this flyer on my windscreen. Seem not bad for people here looking for COE renewal loan.

 

 

[Azacamis]

Eh, can you don't mislead people or not?

 

PARF is FORFEITED upon renewal of COE.

Eh, you can improve on your reading or not? Where I got say you get back your PARF?

 

What I said is, IF (I purposely capitalised for you) your PARF is 10k, one way to get back a similar value when you renew your COE for 5 years is to scrap the car 3 yrs later. Your will get back the balance of your PQP which is about the same value if your PQP is 25k or more. The depreciation of the car over the span of 3 yrs is still lower than taking any used car.

[Lynyan]

Sorry but seriously, if you can't even pay $20 plus K for a 5 yr Coe, you are better off without a car. Hope your are not offended.

Different school of thoughts, some people may have the cash to pay for the car renewal but they would use the cash for investment. Why pay for something that depreciates? These people are the ones who will laugh their way to the bank. So please stop being judgemental.

[Tiger1]

Different school of thoughts, some people may have the cash to pay for the car renewal but they would use the cash for investment. Why pay for something that depreciates? These people are the ones who will laugh their way to the bank. So please stop being judgemental.

maybe you could enlighten us which "investment" pays, for sure, higher returns than a car loan effective rate of 6%.

[Lynyan]

You definitely can't use 20k to do an investment with 6% return but 20k could be used as a top up for an investment which can possibly bring them more returns. If you want to buy a 1bdrm property, 20k is a fraction of the 1st 20%.

 

If I take investment out of the picture and that they really cannot afford 20k, they might need a car for work or for family use. You don't even know the objective behind their intentions so why comment? Be empathetic.

[Metalslug2]

Renew COE loan less than PQP and less than the usual tenure need HUI HUA in-house to do? ARE YOU SURE?

 

Any TOM DICK or HARRY finance will do. ie. HONG LEONG/CENTURY TOKYO just that you need a dealer to facilitate.

 

OH YA, you didnt mention that there will be admin fee? Hidden charges?

 

Be upfront and frank, probably can get some business here, Mr. Geri Lim

 

Hong Leong 3.25%

 

Century Tokyo 3.5%

 

MayBank 4+% (aka Dont Bother)

 

*As long as loan is not exceeding PQP, these 2 finance are your best bet

Thanks for the info bro... I will contact these companies for the COE renewal. 

 

Looking at COE prices, looks like it will be $50k ard there... and the rates are cheaper than the in house credit rates... 

[Gnahp]

Eh, you can improve on your reading or not? Where I got say you get back your PARF?

 

What I said is, IF (I purposely capitalised for you) your PARF is 10k, one way to get back a similar value when you renew your COE for 5 years is to scrap the car 3 yrs later. Your will get back the balance of your PQP which is about the same value if your PQP is 25k or more. The depreciation of the car over the span of 3 yrs is still lower than taking any used car.

I still don't understand....

[Perspectivism]

You definitely can't use 20k to do an investment with 6% return but 20k could be used as a top up for an investment which can possibly bring them more returns. If you want to buy a 1bdrm property, 20k is a fraction of the 1st 20%.

 

If I take investment out of the picture and that they really cannot afford 20k, they might need a car for work or for family use. You don't even know the objective behind their intentions so why comment? Be empathetic.

Money should be put to better use if the income doesn't comfortably allow a car.

Edited April 29, 2017 by Perspectivism

[archcherub]

10 year renewal is always the best way to go.

 

You mean selling the car for more than PARF + COE renewal prorated during the 11th to 20th year?

eh i think if i renew i rather go for 5years.

 

15 years shld be quite healthy for a car liao... not so sure abt 20 years for a car

[Wondertree]

You definitely can't use 20k to do an investment with 6% return but 20k could be used as a top up for an investment which can possibly bring them more returns. If you want to buy a 1bdrm property, 20k is a fraction of the 1st 20%.

 

If I take investment out of the picture and that they really cannot afford 20k, they might need a car for work or for family use. You don't even know the objective behind their intentions so why comment? Be empathetic.

you are the one who needs to 'know the objective behind their intentions'  before commenting. 

 

#26, 'BTW  my car is a WANT not a NEED but i dont mind keep the cost low la since its mainly for leisure and occasionally ferrying my folks for meals n errands.' 

[Jtb]

Money should be put to better use if the income doesn't comfortably allow a car.

 

once you think the comfort not allowing a car, consider Ubering it to continue driving