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

[13177]

I see the way ppl burn their hard earn money on cars...don't know what to say. Maybe like you say, happy can liao.

As more ppl start dumping their barely new cars, prices of used cars are quite attractive, especially those 2017 & 2018 cars.

Ya la, no need to say anything how these people burn their money lo, importantly is they are burning their own money not your money can liao. 

 

Actually the price for those 2017/2018 cars in used car market not say quite attractive le, since some of the used car price is quite close to a brand new car. Esp those so called have high resale value make/model. Example an used 2018 altis priced between 85-90k, think can buy a brand new if pay a little more?!

Edited July 24, 2019 by 13177

[yishunite]

If not for school run between daycare - pri sch - workplace, i would not have bought car. This is currently only the 2nd car I owned in 20 years... first one was a cheap 1 year COE left type and i had nearly 20 year gap. The Grab/Uber revolution really changed peak hour taxi... ya its not cheap but still cheaper than driving.

 

As a single, hdb was always bigger priority. Then with young family taxi was just fine especially once Grab/Uber arrive. When I see young 20-something buy car before house i shake my head... just coz its more within reach doesnt mean its a good destination for ur $$$. If u put those installments into a saving plan instead of a car u would be $100-150k better off at end of 10 years. Just a bit inconvenience for that amount of money? Damn worth it.

 

sorry lah i uncle.

[13177]

True, the money you spend on cars, by end of 10 years the amount that you saved really quite a big sum. But if you didnt spend your money on a car and spend it somewhere, maybe also same and ended up not much saving also. Lol.

Edited July 24, 2019 by 13177

[Lala81]

If not for school run between daycare - pri sch - workplace, i would not have bought car. This is currently only the 2nd car I owned in 20 years... first one was a cheap 1 year COE left type and i had nearly 20 year gap. The Grab/Uber revolution really changed peak hour taxi... ya its not cheap but still cheaper than driving.

 

As a single, hdb was always bigger priority. Then with young family taxi was just fine especially once Grab/Uber arrive. When I see young 20-something buy car before house i shake my head... just coz its more within reach doesnt mean its a good destination for ur $$$. If u put those installments into a saving plan instead of a car u would be $100-150k better off at end of 10 years. Just a bit inconvenience for that amount of money? Damn worth it.

 

sorry lah i uncle.

 

Time is time. Money is money.

To each his own.

 

If u don't spend frivolously, u will still be able to fund your own retirement. Or else the govt will have made COE only available for those with high annual incomes long time ago rather than funding the masses retirement for them.

 

There are always cheaper cars to run/operate as you yourself have stated.

I agree that not many 20+ year olds need to own cars. And in fact many of them don't.

Edited July 24, 2019 by Lala81

[Old-driver]

Happy to do my part in contributing to the nation 

[flashbang]

Cannot compare other people's situation with yours. If combined income 10k/month, how to own a car? But if combined income 20k/month a 100k full cash car is nothing.

[culp]

Cannot compare other people's situation with yours. If combined income 10k/month, how to own a car? But if combined income 20k/month a 100k full cash car is nothing.

This sounds quite reasonable. Most of cases, people are in different situations, like family backgrounds, income, life stage, hobbies, interests etc. Seems difficult to sense others’ feeling about one thing even when we try to stand in their shoes, not mention sometime people might judge it based on own life experiences and knowledge. It’s their choice to make their life happy. Likely that choice is the best at that point time, given that people always think thoroughly about owning a car here.

[13177]

Life is short and nobody knows what will happen next moment, just enjoy and spend the money you earn la. Good habit to keep save money but no need to save until so much money that not willing to spend lo. Lol.

[Ct3833]

Most ADs require buyer to "fulfill trade in condition terms" otherwise not interested to do business ???

This is wat I understand. It is all a "full package" especially the see and see.......correct me if I am wrong.

Not those B&B car. But if it is C&C, it is worth to trade in a junk car because of the high trade in value. However, if one tries to trade in a fairly new C&C car, then he can expect to bleed. Then again, those who keep changing C&C car should not have any feeling at all. This is my imagination because I am not at that(wealth) level to understand. Haha Edited July 25, 2019 by Ct3833

[Carhorn]

those who paid 50k, 60k, 70k, 80k, 90k COE , the country will thank you for contributing to nation building

well, no need to thank us. it's because we can.

[Kodiaqer]

well, no need to thank us. it's because we can.

 

banks also love u guys!

[Rickster]

Thread OT till become why buy car

[Carhorn]

banks also love u guys!

bank dun earn anything from me except for 1 car. u win some, u lise some Edited July 25, 2019 by Carhorn

[subzero17]

There are also the ones who love cars and love driving. As long as you are not in bad debt by owning a car, it’s up to the individual. Not everyone was born in the era where COE cost less than a $1000.

[Heartlander]

There are many people / family with combined income husband and wife $8k - $12k / month own car. There are many Many many out there, cars are very affordable now $70-90k with 70% loan monthly $400-$900 monthly. There are a lot a lot of people take loan to buy car whether new or used car. So,e very rich also take loan cos they need their cash to roll.....different people different mentality and mind set....some family combined income $3k also own car, drive Uber grab also own car.

 

I would reckon majority big portion of middle income fall into this category, There are many many fall into this category of income bracket and own normal bread and butter car.

 

Otherwise how is it possible for singapore economy to sustain if people don't spend and how is it possible so many new cars are registered and sold every month??

 

End of the day, spend prudently and have some enjoyment within limits, dun waste time gambling on football and vices. Life is short, enjoy if can afford.

 

If have $1, pls try spend $0.75 and save $0.25. Better if spend 0.25 and save 0.75

 

In life, we spend on some, we win some, we lose some and we save some. Balancing act

 

If desire to decide own a new car during $90k COE days den pocket must be deep!!!

Actually if die die want to have "personal" car, just be a PHV driver lor.

 

What you need to pay is just $500 for down payment, and you can choose a PHV car from appointed rental agents from Mazda 3/Altis/Elantra to Prius+, brand new or 2 to 3 years old, at a daily rate of $55 to about $80 depending on no contract or upto 2 year contract. 

 

Just need to drive a few hours daily to cover the rental earn whatever amount you need, no need to worry about car maintenance or road tax or car insurance. And the car is yours at your disposal, can even drive to Malaysia.

 

Here in mcf, common wisdom is you must have earned certain income level then prudent' to own a car. But nowadays no longer true due to the active PHV market. But is only for the B$B cars. And must be able to accept the stigma of being a PHV driver. Some people die die do not want to do it because of pride, even causing the family to suffer with him. Sigh...

 

[Ct3833]

People change car always got reason behind, cars are more affordable now, just got big bonus, car warranty ended, car keep falling sick damn sianz keep go hospital so visit Cnc hospital see famous mr MB surgeon, he recommend transplant new heart LOLOLOLOL

 

Side note, lucky u paid pqp renewed the w212....

 

There are always this group like to show off, carry bottega veneta, Gucci LV wallet BUT wallet inside is always "almost empty"!!!!

 

I like those just use "paper clip" to clip a thick stash of singapore dollar notes!!!!! Very style stylo milo

Wow w212, good choice, I remember you were looking at w204 at one point.

[Jamesc]

I don't look down on PHV drivers as its an honest living.

 

[Rickster]

Actually if die die want to have "personal" car, just be a PHV driver lor.

 

What you need to pay is just $500 for down payment, and you can choose a PHV car from appointed rental agents from Mazda 3/Altis/Elantra to Prius+, brand new or 2 to 3 years old, at a daily rate of $55 to about $80 depending on no contract or upto 2 year contract.

 

J

ust need to drive a few hours daily to cover the rental earn whatever amount you need, no need to worry about car maintenance or road tax or car insurance. And the car is yours at your disposal, can even drive to Malaysia.

 

Here in mcf, common wisdom is you must have earned certain income level then prudent' to own a car. But nowadays no longer true due to the active PHV market. But is only for the B$B cars. And must be able to accept the stigma of being a PHV driver. Some people die die do not want to do it because of pride, even causing the family to suffer with him. Sigh...

This is a more viable option for someone who die die want to own a car yet can't afford or don't want to make a down payment for the car.

 

I don't see why renting a car is cheaper than buying a slightly used car still under warranty, especially for B&B cars.

 

Maybe I'm missing out something, but can enlighten me on this?