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Why more people are renewing COE?

Ct3833

By Ct3833,
in General Car Discussion

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Wallaw819

Wallaw819

4th Gear
41 minutes ago, riot168 said:

Ok, after more than 6 mths of renewing COE and numerous visit to car workshops! 🙂

I have to declare.. I would only renew or buy a COE car if it's those sibei atas (for me) level..

like mercedes S , bmw 7 , porsche, maserati etc.

 

If not, not worth the hassle of time, effort and money in fixing and maintaining the car. 🙂

Interesting to hear what car you renewed.  I renewed mine for 2 years and only regular oil change and some wear n tear items (brakes).

Those S, 7, P and M parf painful to forgo, high road tax and you might even spend more time (money too) in the workshop!

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Jumpmanz

Jumpmanz

5th Gear
5 hours ago, riot168 said:

Ok, after more than 6 mths of renewing COE and numerous visit to car workshops! 🙂

I have to declare.. I would only renew or buy a COE car if it's those sibei atas (for me) level..

like mercedes S , bmw 7 , porsche, maserati etc.

 

If not, not worth the hassle of time, effort and money in fixing and maintaining the car. 🙂

Actually those B&B conti cars looks like a good deal to renew. 7-9k depre.

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Jamesc

Jamesc

Hypersonic
6 hours ago, riot168 said:

Ok, after more than 6 mths of renewing COE and numerous visit to car workshops! 🙂

I have to declare.. I would only renew or buy a COE car if it's those sibei atas (for me) level..

like mercedes S , bmw 7 , porsche, maserati etc.

 

If not, not worth the hassle of time, effort and money in fixing and maintaining the car. 🙂

What mileage and car you renew? 

Are you the first owner? 

:D

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Ct3833

Ct3833

Supersonic
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(edited)
On 6/23/2020 at 10:28 AM, riot168 said:

Ok, after more than 6 mths of renewing COE and numerous visit to car workshops! 🙂

I have to declare.. I would only renew or buy a COE car if it's those sibei atas (for me) level..

like mercedes S , bmw 7 , porsche, maserati etc.

 

If not, not worth the hassle of time, effort and money in fixing and maintaining the car. 🙂

What car is yours ?

My altis is alive and kicking, my sons treat it like a taxi but so far no problems except to replace an alternator.

Dont try s class or 7series.  These models are over engineered that too much mechanical and electronics are being added, end up they become vulnerable  to failure, and the repair cost also become higher. My neighbour has a COE s class, he said it needs frequent  repair and it is quite expensive, but he drives on  because he likes his car. I have two friends who both sold their 7 series around 7years  because of various problems. 

The other thing to consider is the higher increasing  road tax after 10years of these higher cc cars. 

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Brass

Brass

6th Gear
On 6/25/2020 at 11:23 PM, Ct3833 said:

What car is yours ?

My altis is alive and kicking, my sons treat it like a taxi but so far no problems except to replace an alternator.

Dont try s class or 7series.  These models are over engineered that too much mechanical and electronics are being added, end up they become vulnerable  to failure, and the repair cost also become higher. My neighbour has a COE s class, he said it needs frequent  repair and it is quite expensive, but he drives on  because he likes his car. I have two friends who both sold their 7 series around 7years  because of various problems. 

The other thing to consider is the higher increasing  road tax after 10years of these higher cc cars. 

New 730i 2.0L nia, 1.8k at 15th year.

But dont even know can last until then, lol 😂.

I think losing parf of 60k is damn painful, even for the rich.

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Ct3833

Ct3833

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35 minutes ago, Brass said:

New 730i 2.0L nia, 1.8k at 15th year.

But dont even know can last until then, lol 😂.

I think losing parf of 60k is damn painful, even for the rich.

Yah PARF is the other key consideration.  The rich wont renew coe, the poor like me, 60k have to earn forever. 😄😄

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Sugimoto

Sugimoto

6th Gear

These guys anyhow spreading rumours (happened to met 1 of them).

Recently seeing alot of these salesmen selling their renewed 5 years b&b cars to unknown buyers telling them that they can appeal LTA for another extension. 10 years renewal will be defeat it purpose if everyone do that to extend coe again.

If those who intend to renew coe or buying coe car have to take note.

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awhtc

awhtc

6th Gear

A COE car with faulty mechanical parts changed, a fresh coat of paint, new head lights, repaired interior leather and 2-DIN head unit with reverse camera will make the car look very new.  It costs about $6k to do up all these only.  So renew COE is the way to go for budget conscious drivers. 

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awhtc

awhtc

6th Gear
On 7/16/2020 at 11:19 PM, Sugimoto said:

These guys anyhow spreading rumours (happened to met 1 of them).

Recently seeing alot of these salesmen selling their renewed 5 years b&b cars to unknown buyers telling them that they can appeal LTA for another extension. 10 years renewal will be defeat it purpose if everyone do that to extend coe again.

If those who intend to renew coe or buying coe car have to take note.

5-year COE car is a definitely no go. It is better to buy an almost 10-year old car and renew 10 years of COE.

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Mkl22

Mkl22

Twincharged
11 minutes ago, awhtc said:

5-year COE car is a definitely no go. It is better to buy an almost 10-year old car and renew 10 years of COE.

Yes and no. 
if you intend to drive all the way or at least  more than 5 years, then yes. The parf is amortized over a longer period. 

however if one is more strapped for cash.
5years is a good bet. Talking about those who pay in full and also don’t intend to drive the car for long. If you noticed those who renew in 2016-2017 actually don’t actually lose much when they sell. The depreciation for the remaining 1-2 years is quite high, but quantum low thus those who want a short term car or cannot loan too much will buy. 
 

those who renewed 10years in 2016-2017. Seem to be more in a bind. They can scarcely get more than paper plus a bit of body. This is largely due to the current coe values which fallen by 15-20k. Also the quantum is higher and the buyer profile is such that not many Can or are willing to pay for this. 
so the 5year renewals seem to be better off as the opportunity cost of the extra 25k can be put to other use. 

my 2cents

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Alfc

Alfc

5th Gear

Remembered reading quite a while ago, someone tried to make a case to LTA for extension of original 5-year renewed COE to 10 years. Think the person is ok to pay make up retrospectively and pay for the higher 10-year to show he is not exploiting lower COE premium now.

Anyone know of the outcome of this case?

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Mkl22

Mkl22

Twincharged
45 minutes ago, Alfc said:

Remembered reading quite a while ago, someone tried to make a case to LTA for extension of original 5-year renewed COE to 10 years. Think the person is ok to pay make up retrospectively and pay for the higher 10-year to show he is not exploiting lower COE premium now.

Anyone know of the outcome of this case?

Sorry no idea. Only know that he is A dumbo, his lawyer fees can pay for another coe. Haha. 

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