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2008 Mazda 3 Scrap or Renew 5 Years COE?


kunipao
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My Toyota Altis left with 3 weeks Of COE. Mileage 120k. Cannot decide if I should let it go now or renew 5 years first then let it go later maybe 6 months later. But not sure how it will affect the car value. Honestly, I’m not ready to let go the car within a week time yet. Appreciate guru’s advice

 

120k quite low mileage, renew 10 years. 

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Neutral Newbie

2008 Car COE ends 2020.?Your Car COE 12 Years.? [confused]  [laugh]

 

2008 is the model. It was registered in Mar-2009. 

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Go for 10 year renewal. It's less than $30K.

 

You have already forgone your PARF. Why renew 5 yr COE, which results in higher annual dep?

Edited by Vinceng
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My Toyota Altis left with 3 weeks Of COE. Mileage 120k. Cannot decide if I should let it go now or renew 5 years first then let it go later maybe 6 months later. But not sure how it will affect the car value. Honestly, Iâm not ready to let go the car within a week time yet. Appreciate guruâs advice

1. Let go now you should get about 1k to 1.5k of body value , do your work to check around the body value.

2. If you have no intention to keep for long, then do not renew COE, sell it off better.

3. If you renew COE, when you let go it down the road, dealer may low ball your price as your car has no more parf, it would be better for you to sell it yourself after you renew COE.

4. if you want to renew COE, it may be more worth while to renew 10 years instead of 5.

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Thanks Gurus! Appreciate all the comments. I’m most likely not getting a new car. I probably only need the car for another couple of months to a year. But if I’m going to lose more value with the renewal than I rather let it go now.

 

let it go and rent one for that short period, if phv/taxi do no meet your needs

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1. Let go now you should get about 1k to 1.5k of body value , do your work to check around the body value.

2. If you have no intention to keep for long, then do not renew COE, sell it off better.

3. If you renew COE, when you let go it down the road, dealer may low ball your price as your car has no more parf, it would be better for you to sell it yourself after you renew COE.

4. if you want to renew COE, it may be more worth while to renew 10 years instead of 5.

 

Think what dealer do is to quote the scrap value which is the COE residual value. Not really call lowballing.

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1. Let go now you should get about 1k to 1.5k of body value , do your work to check around the body value.

2. If you have no intention to keep for long, then do not renew COE, sell it off better.

3. If you renew COE, when you let go it down the road, dealer may low ball your price as your car has no more parf, it would be better for you to sell it yourself after you renew COE.

4. if you want to renew COE, it may be more worth while to renew 10 years instead of 5.

Thanks for the comprehensive advice!
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Buying a new car means you got to pay the relevant taxes like Additional Registration Fee, Import duty, GST and many more.

 

The PARF forgone to renew COE is a significantly smaller amount of money

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What's your decision?

Most likely let go before coe expired if I can get a good price. If I extend 10 years, I might as well trade in, pay abit more and downsize to a vois below 1.6l and have a new car for 10 years.
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Most likely let go before coe expired if I can get a good price. If I extend 10 years, I might as well trade in, pay abit more and downsize to a vois below 1.6l and have a new car for 10 years. ð¤

Now a new vios about 82k. If you sell now, you only get back paper value plus a bit for the body. So new cars are not that cheap nowadays.
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My Toyota Altis left with 3 weeks Of COE. Mileage 120k. Cannot decide if I should let it go now or renew 5 years first then let it go later maybe 6 months later. But not sure how it will affect the car value. Honestly, I’m not ready to let go the car within a week time yet. Appreciate guru’s advice

 

My previous car is an altis 2008. I sold it at 6.5 years with 120k mileage.

In that period, other than AC unit spoil once, only shocks needed to change once as well.

If u have no pressing needs to have more seats or a bigger car. I would keep this car with a 10 year COE. I don't recommend a 5 year COE.

I doubt there will be any real major problems with the gearbox or engine.

Your mileage is also low for a 10 year old car.

 

I've sat in the G11 altis cabs in Thailand with 450k on the odometer and still feel the same.

Thanks Gurus! Appreciate all the comments. I’m most likely not getting a new car. I probably only need the car for another couple of months to a year. But if I’m going to lose more value with the renewal than I rather let it go now.

 

Oh ok. didn't read this part. Then there's no right or wrong.

Once u lose the PARF, then prone to being low-balled in the 2nd hand market. So up to you.

Edited by Lala81
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Thanks Gurus! Appreciate all the comments. I’m most likely not getting a new car. I probably only need the car for another couple of months to a year. But if I’m going to lose more value with the renewal than I rather let it go now.

The planet thanks you for your environmental-friendly decision.

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My Toyota Altis left with 3 weeks Of COE. Mileage 120k. Cannot decide if I should let it go now or renew 5 years first then let it go later maybe 6 months later. But not sure how it will affect the car value. Honestly, Iâm not ready to let go the car within a week time yet. Appreciate guruâs advice

Hi, if u are interested to sell, my uncle is looking for Altis.

 

I’m not a dealer, just kaypoh-ing.

 

Drop me a pm to discuss further if u like

 

Ps,

U can check with Quotz for an indicative price.

https://www.quotz.com.sg/free_valuation

Edited by Ronleo
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Neutral Newbie
On 8/22/2019 at 9:34 AM, Dilemma said:

 

Mar 2009?? Means COE expired also???

Yup expired 5 months ago (Mar-2019). I renewed for another 5 years. 😅

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