Why more people are renewing COE?

[Ct3833]

1 hour ago, Albeniz said:

Nowadays, old cars don't look so out-dated.  So many people choose to renew COE as the looks are no longer so obvious and embarrassing.

Very little to do with reliability. 

this thread talk until cow already came home and we are still talking about it?   My own confession is i have no money.  No money no need to talk look, and no money no need to feel embarrassing....i mean just to be thick skin🤣 

[Kangadrool]

I admit I renewed my COE cos no money to buy new car.😁

[Albeniz]

I admit I have money but I just don't feel like spending on a new car.

[Jamesc]

I no money but I no admit.

Spent all on MIL.

[Volvobrick]

I don't like giving too much to LTA....

 

[Ct3833]

52 minutes ago, Albeniz said:

I admit I have money but I just don't feel like spending on a new car.

now i know who is competing with no money people like me😅

[Confusedboi]

I traded in my old  ford focus and bought a 10 plus year old COE honda civic because not enough money to buy a better car. It was either the COE 09 honda civic or the COE 09 kia koup in the end went for the civic 😂 😁

[SiLangKia]

I bought a COE renewed car because I wanted to spend within my means, without having to take a loan and have monthly commitments.

 

The allure of a newer car is tempting, but I love what I have, and at this depreciation no other new-ish car comes close in terms of power output so there's nth to complain about 🤣

[Ct3833]

With the covid situation,  most of the cars are underutilized  since Jan, the usage rate per depre $ is very high for new car😄😄,coe car still not too bad but still high by my standard.😭😭

I notice there were about 40,000 cars being renewed COE last year,  that is probably  about 50% of the cars due for COE in 2019, the renewal rate this year drops significantly, anyone knows why ? People suddenly become richer this year ?  All can afford new cars ? 

 

Edited June 14, 2020 by Ct3833

[Optramagnum]

I renewed my COE not because I am the first owner. It's because I don't like to take loan 🤣

[Enye]

wah... r we competing to see who more no money?

 i don’t even have money to renew coe

😬😅

[Dafansu]

8 hours ago, Optramagnum said:

I renewed my COE not because I am the first owner. It's because I don't like to take loan 🤣

same, threw 32k in 2015 to renew just 5 years. Cannot afford new car. 😅

[Ct3833]

8 hours ago, Enye said:

wah... r we competing to see who more no money?

 i don’t even have money to renew coe

😬😅

So you bought a new car instead right? 

[camrysfe]

11 hours ago, Alg said:

Timing and also depending on car PARP value.

I'm driving a B&B car.

My previous car COE ended 2017. I renewed the COE at $25k for 5yrs, to 2022.

In 2018 Aug, COE dropped to $25k, I booked a new car and sold away my previous car (paper + body).

 

How much u sold your old coe car and what is the Parf value of your old coe car?

[Albeniz]

11 hours ago, Ct3833 said:

this thread talk until cow already came home and we are still talking about it?   My own confession is i have no money.  No money no need to talk look, and no money no need to feel embarrassing....i mean just to be thick skin🤣 

Looking at the response, the thread you started has been revived again! Yoo hoo!

The reasons and contexts for COE renewal would be slightly different as time progresses.  Although some cows had come home, there will be different new cows every year.

Edited June 15, 2020 by Albeniz

[Ginyu]

Some say no 1mil disposable cash falls under no money category. It may not be a big sum but be surprised not many have it

Some Coe renewal are on loan too🤣

[Ct3833]

47 minutes ago, Albeniz said:

Looking at the response, the thread you started has been revived again! Yoo hoo!

The reasons and contexts for COE renewal would be slightly different as time progresses.  Although some cows had come home, there will be different new cows every year.

😄😄talking about it, I renewed my COE in May last year, it is already 1 year anniversary now.

Edited June 15, 2020 by Ct3833

[Ct3833]

2 hours ago, camrysfe said:

How much u sold your old coe car and what is the Parf value of your old coe car?

His coe was 5k a year for 5 years, when COE dropped to 25k in 2018,  from coe point of view, he would save 2.5k per year of COE on his fresh new car against his COE car.  That makes sense but of course a new car would cost more, but then,  new leather everything, not a bad deal.  After driving his COE car for a year, I suspect he wrote off about less than 7k of  PARF value of the remaining 4 years.

Edited June 15, 2020 by Ct3833