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Worth it to sell 5 year old car (with high COE) and buy new


Wolverine23
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Driving an almost 5 year old Audi. Worth to sell and change to Civic?

Can’t answer your question as too many variables like expected sales price, how much u lose, cost of new car price, whether u are comfortable to move from Conti to Jap etc

 

So instead of a yes or no answer, perhaps u shld ponder over some of the points i’ve listed, do your sums n the results could end up pushing u one way or the other. Civic driving dynamics is quite different from an Audi so u have to be comfortable with that as well. Good luck in your choice

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Canât answer your question as too many variables like expected sales price, how much u lose, cost of new car price, whether u are comfortable to move from Conti to Jap etc

 

So instead of a yes or no answer, perhaps u shld ponder over some of the points iâve listed, do your sums n the results could end up pushing u one way or the other. Civic driving dynamics is quite different from an Audi so u have to be comfortable with that as well. Good luck in your choice âï¸

In terms of financial terms, more worth it?
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In terms of financial terms, more worth it?

I don’t hv the nos. so hard to make a call generally.

One way could be to calculate the total 10yr depreciation cost of the Civic n compare with what u would lose for your Audi by selling now. If not much diff, then perhaps changing would make sense financially as u get an extra 5yrs n also servicing costs etc shld be covered by AD for first 3 yrs at least.

 

That said, for most owners of high COE cars, they find it hard to swallow a big loss on their ride.

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I donât hv the nos. so hard to make a call generally.

One way could be to calculate the total 10yr depreciation cost of the Civic n compare with what u would lose for your Audi by selling now. If not much diff, then perhaps changing would make sense financially as u get an extra 5yrs n also servicing costs etc shld be covered by AD for first 3 yrs at least.

 

That said, for most owners of high COE cars, they find it hard to swallow a big loss on their ride.

Example:

Buy civic 95k. Sell old car at 75k

 

 

Based on above,financially seems logical? :)

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5 years old Audi $75k

Brand new Civic $95k

 

For 20k can get :

 

*Brand new car

*3/5 (?) years servicing and wty

 

Looks ok if u can forego the ride u are used to plus there may be more moolah to replace wear and tear items on Audi which may cost +-$20k over next 4 years 11 months 29 days

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Example:

Buy civic 95k. Sell old car at 75k

 

 

Based on above,financially seems logical? :)

Assuming scrap value of Civic is $10k, then depreciation would be $8.5k per year

Assuming scrap value of Audi is $15k, remaining depreciation would be $12k per year

 

Based on the above, it does look financially viable to get the Civic and as mentioned newer car will have less upkeep costs, if any at all compared to 5yr old Audi which is bound to incur more wear n tear costs.

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Assuming scrap value of Civic is $10k, then depreciation would be $8.5k per year

Assuming scrap value of Audi is $15k, remaining depreciation would be $12k per year

 

Based on the above, it does look financially viable to get the Civic and as mentioned newer car will have less upkeep costs, if any at all compared to 5yr old Audi which is bound to incur more wear n tear costs.

And also, I believe if I would sell off the Civic after 3 years, the value wont be eroded too much?

 

Furthermore, interest at 1.99% seems very low.

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And also, I believe if I would sell off the Civic after 3 years, the value wont be eroded too much?

 

Furthermore, interest at 1.99% seems very low.

Hard to say cos a lot depends on the new car COE price at that time. If it shoots up then obviously u wont lose much. However, all of us also know that new car doesn’t depreciate in a straight line so all things being equal, u actually would lose more on a new 3yr old car vs a Used 3yr old car.

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Hard to say cos a lot depends on the new car COE price at that time. If it shoots up then obviously u wont lose much. However, all of us also know that new car doesnât depreciate in a straight line so all things being equal, u actually would lose more on a new 3yr old car vs a Used 3yr old car.

How to calculate my expected Audi price after 3 years? And expected Civic price after 3 years? Assuming COE unchanged
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How to calculate my expected Audi price after 3 years? And expected Civic price after 3 years? Assuming COE unchanged

Not possible to calculate due to many unknowns like COE price then, demand n supply of particular model, car environment at that time etc. Think the earlier nos. should have given u an idea of what the figures are now n that shld be the basis of your decision. No point analysing unknowns down the road in my opinion.
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