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is this a good year to change car?


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On 2/28/2020 at 9:14 AM, Cheefarn said:

Thats becos your Vezel had ready buyers... it will be used for PHV duties

For other brands/models that are unlikely to be used by these rental companies, it is scrap plus 2-3k only. 

so are you saying Vezel has better trade in value ?

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1 hour ago, Jtbc said:

so are you saying Vezel has better trade in value ?

The so called value is largely, if not solely dependent on how fast your car can be resold in the used car market. Used car dealers are running a biz. They need stocks that they can do fast turn overs

Although I wouldn't say the market is now controlled by PHV rental companies, they do make significant impact on how much you can get for your old car. You need to decide if you buy a car that you really like, or do u buy a series of models that suits the PHV crowd on the assumption that it will be resold easier x years down the road. 

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I'm not a fan of brand new cars because I usually change cars every 3-4 years.

If I bought brand new, I'd be the sucker who tank the high initial depreciation and pass on the savings to the next owner

I only buy cars that I can afford to pay in full cash - but still take short loan anyway. The remaining money after DP that I didn't use to pay for the car (had I done full cash) can be invested short term with some ROI to offset my loan interest + earn some profits.

No right, no wrong. Just my 2 cents.

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Nobody can define if this it a good year to buy a car - Only yourself.

When COE was at 100k, your business could be thriving and hence it is a good year.
When COE was at 30k, you could be on the verge of bankruptcy and hence a bad year.

The quantum of the COE doesn't define if it is a good year - Your financial situation defines

However, if you are earning a steady income without much concerns, the COE @ 30k +- seems like a good time to enter. 

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Look at it from upside and downside.

Upside: Your potential savings is 30k if COE drops to 0. Realistically, it's more like 10-20k potential savings cos unlikely to drop to 0.

 

Downside: Your potential loss could be up to 60k, cos highest COE so far is around 90k.

 

Looks like a good time to buy now!

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many used cars are priced with straight line depre nowadays, or some priced even higher in terms of depre compare to new, because these dealers use their tricks such as overtrade, higher loan, 0% DP and all that low intital quantum stuff to absolutely sucker people in..

in my humble opinion, in the context of a stagflating economy, we do need to fix this because if a credit crunch comes i can just smell the napalm..

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Turbocharged

https://www.asiaone.com/lifestyle/buying-car-singapore-what-every-first-time-wannabe-car-owner-should-know

Not very prudent way to buy a car - Spend $15K to buy a 9 yr old used one, in view of using the scrap value to top up to buy another 9 yr old used car.

That's an average annual dep of at least $8K, excluding repairs for an aging car with 1 yr left to scrap.

Better to buy a brand new budget car like Mitsubishi Attrage, Nissan note, Perodua Bezza/MYVI with an annual dep of $6K.

 

Edited by Vinceng
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On 3/12/2020 at 11:13 AM, Vinceng said:

https://www.asiaone.com/lifestyle/buying-car-singapore-what-every-first-time-wannabe-car-owner-should-know

Not very prudent way to buy a car - Spend $15K to buy a 9 yr old used one, in view of using the scrap value to top up to buy another 9 yr old used car.

That's an average annual dep of at least $8K, excluding repairs for an aging car with 1 yr left to scrap.

Better to buy a brand new budget car like Mitsubishi Attrage, Nissan note, Perodua Bezza/MYVI with an annual dep of $6K.

 

Yes lor, ALL of us should buy a brand new budget car with annual depre of $6K. It's a no brainer. 

Wonder why the roads aren't full of these cars, hor?

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7 minutes ago, Toeknee_33 said:

Yes lor, ALL of us should buy a brand new budget car with annual depre of $6K. It's a no brainer. 

Wonder why the roads aren't full of these cars, hor?

Depends what your needs are.

If you just need a point A to B car, a 3 cylinder 1 litre noisy engine car made with milo tin metal also can do the work. 

But I seek for the sheer driving experience & pleasure.

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9 minutes ago, Toeknee_33 said:

Yes lor, ALL of us should buy a brand new budget car with annual depre of $6K. It's a no brainer. 

Wonder why the roads aren't full of these cars, hor?

He saying we all got no brain?

And what car did he buy?

Quote

Better to buy a brand new budget car like Mitsubishi Attrage, Nissan note, Perodua Bezza/MYVI.

:grin:

image.thumb.png.9755d796a368cec944b6409c9c5440c8.png

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1 hour ago, Aventa said:

Depends what your needs are.

If you just need a point A to B car, a 3 cylinder 1 litre noisy engine car made with milo tin metal also can do the work. 

But I seek for the sheer driving experience & pleasure.

 

1 hour ago, Jamesc said:

He saying we all got no brain?

And what car did he buy?

:grin:

image.thumb.png.9755d796a368cec944b6409c9c5440c8.png

:grin:

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2 hours ago, Toeknee_33 said:

Yes lor, ALL of us should buy a brand new budget car with annual depre of $6K. It's a no brainer. 

Wonder why the roads aren't full of these cars, hor?

I followed his instructions. 
 

my car 6k on petrol per year 🤣

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Turbocharged
3 hours ago, Jamesc said:

He saying we all got no brain?

And what car did he buy?

 

I recommended the car based on the thread starter's current circumstances.

And I bought a 'budget' conti marque - a VW Passat which costs less than half of what a  brand new Mercedes E class or BMW 5 series would cost. 😁

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1 hour ago, Vinceng said:

I recommended the car based on the thread starter's current circumstances.

And I bought a 'budget' conti marque - a VW Passat which costs less than half of what a  brand new Mercedes E class or BMW 5 series would cost. 😁

Passat is a good car. No way is it budget. I think the boot can fit 3 x 165kg me.

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18 minutes ago, Theoldjaffa said:

Passat is a good car. No way is it budget. I think the boot can fit 3 x 165kg me.

580L if I'm not wrong. Lol wonder if should consider a management unit...

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The moment of truth.  My SE say wor, COE is pegged to STI wor.  

So STI like bear liao ...... So COE to fall ??  Let see.....

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