I Still Have About 1yr 10 Months Before Coe Expired

[Mkl22]

On 11/28/2019 at 3:56 PM, Cheefarn said:

Buying a 2-5 yr old used car is not a good idea also. The used car dealer who lowballed the poor seller with near scrap value can and will easily mark up 10-20k (depending on the brand) by reselling that used car to you. The annual depreciation for such used cars can be equal or even higher than brand new. 

And if you opt for models that are commonly used by PHV.... haha... good luck to you yo. You could be driving away an insane high mileage 'like new' car with most parts worn out and the car is prob abused by dunno how many PHV drivers. And with min maint done to it. Low mileage you say? 95% of used cars sold by used car dealers in SG had their odometers tempered with. There is no law against this so why not right?

 

29 minutes ago, WaydwayneSG said:

That's actually true. If you bring in a 2 year old car for sale, you will face a massive hit, like a 75-80% drop in valuation over paper value. Your actual depreciation for those 2 years of ownership just doubled. And sure enough, the used car seller will add a huge mark-up, because they can. After all, "it's just a 2 year old car, almost brand new & 8 more years of COE".

Another situation that can backfire is buying an 7-8 year old car - if you're suddenly facing a costly repair during its 9th year, the repair bill may be higher than the remaining value of the car, so you rather scrap the car, which means you only got 1-2 years use out of the car instead of 3.

Unlike many other used car markets on the planet, SG is not a good place to trade cars, due to the high effective depreciation. (all courtesy of our unique 10 year life span concept). It's not like US or Europe where people buy a new car every 3-4 years.

2 of you champion.

2-5years cannot buy, 7-8years also cannot buy.  so only 6 and 9year old car is the best?

[Sigeena]

Actually if I only need the car for myself and occasionally drive other people, I'll go for a cheapass coe car, and just use it. Repairs wise, only focus on general maintenance and safety such as tyres and brakes. 

[Ct3833]

7 hours ago, Mkl22 said:

 

2 of you champion.

2-5years cannot buy, 7-8years also cannot buy.  so only 6 and 9year old car is the best?

Now I can make my conclusion,  2-5 years cannot buy, 7-8 years also cannot buy, 6 and 9 years you are doubtful , so left with 1 year or 10 years old car to buy.

[Aventa]

16 minutes ago, Ct3833 said:

Now I can make my conclusion,  2-5 years cannot buy, 7-8 years also cannot buy, 6 and 9 years you are doubtful , so left with 1 year or 10 years old car to buy.

They mean we should buy car that are at least 11 years old.
 

[Cheefarn]

16 hours ago, Mkl22 said:

 

2 of you champion.

2-5years cannot buy, 7-8years also cannot buy.  so only 6 and 9year old car is the best?

I am saying if you have the $$ to buy a 2-5 year old used car, you are better off buying brand new. The $$ you spend up front will be very similar. 

 

[Mkl22]

2 hours ago, Cheefarn said:

I am saying if you have the $$ to buy a 2-5 year old used car, you are better off buying brand new. The $$ you spend up front will be very similar. 

 

So the conclusion is,  best option first,

 1.buy brand new and drive 10years.?

2. buy 10year old and renew and drive 10years

3. don't buy. Take Bus, MRT, forever till you die.

thanks for the insights...

Edited December 3, 2019 by Mkl22

[Ct3833]

5 hours ago, Cheefarn said:

I am saying if you have the $$ to buy a 2-5 year old used car, you are better off buying brand new. The $$ you spend up front will be very similar. 

 

What you said is true. But if have money everyone also want to buy new car, the problem is the big if. People like me no money , drive COE car lor. 

[inlinesix]

5 hours ago, Cheefarn said:

I am saying if you have the $$ to buy a 2-5 year old used car, you are better off buying brand new. The $$ you spend up front will be very similar. 

 

How come the $$ spend upfront is the same?

[Ct3833]

1 hour ago, Davidtch said:

How come the $$ spend upfront is the same?

Spending up front should be slightly lower for 2 to 3years old car but anual depre may not necessarily  be depending on the type of car. 

[flashbang]

On 12/3/2019 at 4:18 PM, Ct3833 said:

Spending up front should be slightly lower for 2 to 3years old car but anual depre may not necessarily  be depending on the type of car. 

This is exactly why people buy 2-3 years old car. Relatively new, still got some warranty, and cost lower by 50k compared to brand new which makes the downpayment more affordable.

[peasant]

On 12/3/2019 at 2:04 PM, Ct3833 said:

What you said is true. But if have money everyone also want to buy new car, the problem is the big if. People like me no money , drive COE car lor. 

not true.

people like me no money called peasant, drive BMW (Bus, MRT, Walk) 😎