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Ironstarz

Fully paid car , drive to end or ?

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If you have a car that’s fully paid for , would you drive till 10 years is up or maybe change at 9th year etc ? 
 

 

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26 minutes ago, Ironstarz said:

If you have a car that’s fully paid for , would you drive till 10 years is up or maybe change at 9th year etc ? 
 

 

really depends. if you got the car during a high coe, and now the coe is low, you can offset your next car, why not.

Or if the car is giving you alot of problem, the repair cost is building up, and it only left one year, why not.

But, If the car is in good condition, and it doesn't add to your financial burden, why change?

So it really depends on your perspective.

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I driving a 2013 Feb Mazda 6,COE $96,000,intent to drive till end.

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6 minutes ago, ER-3682 said:

I driving a 2013 Feb Mazda 6,COE $96,000,intent to drive till end.

Wah this one high COE lah.

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Paid up doesn't mean depre free hor

 

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2 hours ago, ER-3682 said:

I driving a 2013 Feb Mazda 6,COE $96,000,intent to drive till end.

U not alone.. my sis too..

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(edited)
3 hours ago, ER-3682 said:

I driving a 2013 Feb Mazda 6,COE $96,000,intent to drive till end.

Your paper value is easily $40K. Why would you want to continue with a COE paper loss of $9,600 per annum?

Sensible to top up $50K for a yr old Mazda 6 to drive for 9 more years, whereby the annual dep of the car and COE combined is  a mere $9,000 or less.

https://www.sgcarmart.com/used_cars/info.php?ID=906157&DL=1000

https://www.sgcarmart.com/used_cars/info.php?ID=902929&DL=3163

Edited by Vinceng
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5 hours ago, Ironstarz said:

If you have a car that’s fully paid for , would you drive till 10 years is up or maybe change at 9th year etc ? 
 

 

If the car is not giving me issues and still giving me  good experience when driving, then I don't see why need to change. 

But car means different thing to different people, some need to change every 3-4 years, so it depends on yourself.

I am still driving an old Mazda 6,  loved it for its good handling and  large boot space......so I even extended it although I could have just bought a new one. Car is just a tool to me, so things may be different for you

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(edited)
5 hours ago, Ironstarz said:

If you have a car that’s fully paid for , would you drive till 10 years is up or maybe change at 9th year etc ? 
 

 

If your question is whether to sell at 9 years old or drive till 10 years , the no brainers answer is you should drive till 10 years. Regardless one has outstanding loan or not,  dealers will take in 9 year old cars at paper value only, might as well drive till the end before sending it into scrap yard. 

Assuming the linear depre of your car is 9k per year, if you sell it at 9 year , you will lose the 9k depre of the remaining year , might as well you keep it, I dont see one should need to spend 9k of repair within 1 year 

Edited by Ct3833
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2 hours ago, Ct3833 said:

If your question is whether to sell at 9 years old or drive till 10 years , the no brainers answer is you should drive till 10 years. Regardless one has outstanding loan or not,  dealers will take in 9 year old cars at paper value only, might as well drive till the end before sending it into scrap yard. 

Assuming the linear depre of your car is 9k per year, if you sell it at 9 year , you will lose the 9k depre of the remaining year , might as well you keep it, I dont see one should need to spend 9k of repair within 1 year 

haha our high COE cars all only paper value + some minimal body value liao lah.

I'm Jan 2015. -_-

 

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7 hours ago, ER-3682 said:

I driving a 2013 Feb Mazda 6,COE $96,000,intent to drive till end.

Why let gahmen earn? Scrap take back COE plus 65% of ARF. Buy a new Mazda 6.

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3 hours ago, Ct3833 said:

If your question is whether to sell at 9 years old or drive till 10 years , the no brainers answer is you should drive till 10 years. Regardless one has outstanding loan or not,  dealers will take in 9 year old cars at paper value only, might as well drive till the end before sending it into scrap yard. 

Assuming the linear depre of your car is 9k per year, if you sell it at 9 year , you will lose the 9k depre of the remaining year , might as well you keep it, I dont see one should need to spend 9k of repair within 1 year 

9th year paper value include last year of coe value.

usually dealers will offer some body value for trade in... see how hard bargain you can drive

won’t lose total 9k of the remaining year lah

😅

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1 hour ago, Lala81 said:

haha our high COE cars all only paper value + some minimal body value liao lah.

I'm Jan 2015. -_-

 

time to change ... doc

😅

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16 vezel brought at 103k. Coe 42kplus. No loan and probably intend to drive till 10 years. A new car of the same make coming to 90k.

No worth I reckon. 😀

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Guess it's about paper value. If high sell it, if low, continue driving it.

Otherwise, sentimental value only you know.

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57 minutes ago, Kangadrool said:

Poison thread. LOL...

No poison lah, many bros here suggesting to drive on, many have came to the realization  that car is a liability, depreciating assets, a burden.😆😆 

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3 hours ago, Lala81 said:

haha our high COE cars all only paper value + some minimal body value liao lah.

I'm Jan 2015. -_-

 

Yah 2015 jan 66k cat A and 75k cat B,  sell also cannot,  catch 22 situation, drive on ...

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