Is used car price affected by when it gets older?

[iamcoda]

Hi, 

I'm shopping for a used car now and looking at Altis 2013/2014. I saw some listings that has its registration month around Sept to Nov that year. 

My question is, does it matter if I wait for the car to turn a year older to see if the price drops? 

Btw, what do u guys think of the Altis? There is an older looking one (cheaper) and a more sleek looking one. Don't really know the difference! 

Thanks 

[t0y0ta]

44 minutes ago, iamcoda said:

Hi, 

I'm shopping for a used car now and looking at Altis 2013/2014. I saw some listings that has its registration month around Sept to Nov that year. 

My question is, does it matter if I wait for the car to turn a year older to see if the price drops? 

Btw, what do u guys think of the Altis? There is an older looking one (cheaper) and a more sleek looking one. Don't really know the difference! 

Thanks 

Older car obviously lower price.

Older model cheaper, newer nicer model more ex: Sounds very logical to me. Can't be the reverse right?

[iamcoda]

Lol you're right. Sorry for the confusion. What I meant is, is there a lot of difference in the price if getting the car when it's 5yr 11mths vs waiting til it's 6yrs old? 

4 minutes ago, t0y0ta said:

Older car obviously lower price.

Older model cheaper, newer nicer model more ex: Sounds very logical to me. Can't be the reverse right?

 

[Pplater]

16 minutes ago, iamcoda said:

Lol you're right. Sorry for the confusion. What I meant is, is there a lot of difference in the price if getting the car when it's 5yr 11mths vs waiting til it's 6yrs old? 

 

It depends on whether the car is sold by a direct owner or a shop. If its a shop, prices can remain stagnant for months. In fact, prices can go up if COE goes up and the shop thinks that potential buyers are willing to pay more. If its a owner of the vehicle selling directly, the owner may lower price gradually, usually during negotiations if the seller is keen to end the sale. You may want to negotiate to find out rather than wait for the price to drop, as the vehicle may be gone before u see a lowered price. 

[iamcoda]

15 hours ago, Pplater said:

It depends on whether the car is sold by a direct owner or a shop. If its a shop, prices can remain stagnant for months. In fact, prices can go up if COE goes up and the shop thinks that potential buyers are willing to pay more. If its a owner of the vehicle selling directly, the owner may lower price gradually, usually during negotiations if the seller is keen to end the sale. You may want to negotiate to find out rather than wait for the price to drop, as the vehicle may be gone before u see a lowered price. 

Didn't realize the price can go up if COE goes up. Thanks for sharing. The hunt continues! 

[Ct3833]

It will not go lower usually, even if it does, the same car may be there for you when you go back to the dealer.  Buy what you think is reasonably priced and could afford.

[Datsun366]

I try to translate later, or you can get your boys to help? 

 

[iamcoda]

5 hours ago, Ct3833 said:

It will not go lower usually, even if it does, the same car may be there for you when you go back to the dealer.  Buy what you think is reasonably priced and could afford.

Thank you 

 

3 hours ago, Datsun366 said:

I try to translate later, or you can get your boys to help? 

 

Thankfully I understand. Alot of good tips here. Thanks so much. 

[camrysfe]

The dealers may be influenced to lower prices for those car hitting the next year of age as they are near the road tax renewal.

[iamcoda]

Actually, how does the depreciation work into the selling price? Does the price drop as much as the yearly depre? 

[Lotr]

On 9/5/2020 at 5:43 PM, iamcoda said:

Lol you're right. Sorry for the confusion. What I meant is, is there a lot of difference in the price if getting the car when it's 5yr 11mths vs waiting til it's 6yrs old? 

 

Contact them now for the price then a few months later bargain for more discount?

[Brass]

5 hours ago, camrysfe said:

The dealers may be influenced to lower prices for those car hitting the next year of age as they are near the road tax renewal.

If the engine capacity is high, like 3.8L, that can happen.

Otherwise they can surely afford $371 for a 1.6L and continue to flog their ware. Why would they chop off their legs to relieve the itch on their leg?

[Vinceng]

@iamcoda

Why would you want to purchase a 2013/2014 Altis with sky high > $60K COE, going at $9K to $10K annual dep, with no warranty, when you can settle for a 2019 Altis at $8K annual dep with 4 more yrs warranty left.

 https://www.sgcarmart.com/used_cars/info.php?ID=914369&DL=1240

Is it because of the upfront purchase price that is holding you back from getting a new Altis with lower annual dep? 

And seriously speaking, you should consider other makes like the 2019 Nissan Sylphy that sets you back by just $6,900 / year, and is in no way less superior, less spacious nor less reliable than the overpriced Altis.

https://www.sgcarmart.com/used_cars/info.php?ID=922864&DL=2996

Edited September 6, 2020 by Vinceng

[winsor]

8 hours ago, Vinceng said:

@iamcoda

Why would you want to purchase a 2013/2014 Altis with sky high > $60K COE, going at $9K to $10K annual dep, with no warranty, when you can settle for a 2019 Altis at $8K annual dep with 4 more yrs warranty left.

 https://www.sgcarmart.com/used_cars/info.php?ID=914369&DL=1240

Is it because of the upfront purchase price that is holding you back from getting a new Altis with lower annual dep? 

And seriously speaking, you should consider other makes like the 2019 Nissan Sylphy that sets you back by just $6,900 / year, and is in no way less superior, less spacious nor less reliable than the overpriced Altis.

https://www.sgcarmart.com/used_cars/info.php?ID=922864&DL=2996

With the idea of ricebowl may not be stable.  Maybe the idea is to get a 8-9 years car as a fun ride. drive a few month. hope for the coe drop and renew. 

The advantage : that you won't have to commit a 7 years loan.   

The down side, you may get  a lemon.

if the coe will to raise. scrap the car.  if the coe will drop or maintain, renew the coe

[Watwheels]

On 9/5/2020 at 4:52 PM, iamcoda said:

Hi, 

I'm shopping for a used car now and looking at Altis 2013/2014. I saw some listings that has its registration month around Sept to Nov that year. 

My question is, does it matter if I wait for the car to turn a year older to see if the price drops? 

Btw, what do u guys think of the Altis? There is an older looking one (cheaper) and a more sleek looking one. Don't really know the difference! 

Thanks 

Ermm....are you sure the car will still be there for sale after waiting for a year? 😂

IMO you are asking all the irrelevant questions. You even wanted to find out how the depreciation works for used cars. You can forget it. The used car dealers peg their used car value with current COE prices. It's ridiculous. 

You do not need to know all the details. It's ok cos many car owners still dont know. But there are websites like sgcarmart.com can help you and give you all the numbers. Save yourself the hassle.

I know ppl will want to know more to protect themselves. Unfortunately, that's not the case for used car market in sgp.

 

 

 

 

[iamcoda]

18 hours ago, Vinceng said:

@iamcoda

Why would you want to purchase a 2013/2014 Altis with sky high > $60K COE, going at $9K to $10K annual dep, with no warranty, when you can settle for a 2019 Altis at $8K annual dep with 4 more yrs warranty left.

 https://www.sgcarmart.com/used_cars/info.php?ID=914369&DL=1240

Is it because of the upfront purchase price that is holding you back from getting a new Altis with lower annual dep? 

And seriously speaking, you should consider other makes like the 2019 Nissan Sylphy that sets you back by just $6,900 / year, and is in no way less superior, less spacious nor less reliable than the overpriced Altis.

https://www.sgcarmart.com/used_cars/info.php?ID=922864&DL=2996

Initially I wanted to get something newer, but after doing some calculations (and having some sense lol), decided not to, i.e, how much lesser I'm able to save. I'm really a noob on all those factors you mentioned haha. 

 

7 hours ago, Watwheels said:

Ermm....are you sure the car will still be there for sale after waiting for a year? 😂

IMO you are asking all the irrelevant questions. You even wanted to find out how the depreciation works for used cars. You can forget it. The used car dealers peg their used car value with current COE prices. It's ridiculous. 

You do not need to know all the details. It's ok cos many car owners still dont know. But there are websites like sgcarmart.com can help you and give you all the numbers. Save yourself the hassle.

I know ppl will want to know more to protect themselves. Unfortunately, that's not the case for used car market in sgp.

 

 

 

 

haha actually it's more if I should wait for the car's birthday. Saw a few listings that are just few weeks away from the car's birthday. You've made a lot of good points there - I'm over-thinking it. I guess it's 'adventure' of getting a used car!

 

 

[Brass]

20 hours ago, Vinceng said:

@iamcoda

Why would you want to purchase a 2013/2014 Altis with sky high > $60K COE, going at $9K to $10K annual dep, with no warranty, when you can settle for a 2019 Altis at $8K annual dep with 4 more yrs warranty left.

 https://www.sgcarmart.com/used_cars/info.php?ID=914369&DL=1240

Is it because of the upfront purchase price that is holding you back from getting a new Altis with lower annual dep? 

And seriously speaking, you should consider other makes like the 2019 Nissan Sylphy that sets you back by just $6,900 / year, and is in no way less superior, less spacious nor less reliable than the overpriced Altis.

https://www.sgcarmart.com/used_cars/info.php?ID=922864&DL=2996

Wow...that Sylphy has high mileage for a year old car.

 

[SiLangKia]

20 minutes ago, Brass said:

Wow...that Sylphy has high mileage for a year old car.

 

At least they didn't get creative with the mileage hahahahaha.. a rare case maybe

 

 

 

 

 

or it could have been 100k mileage tuned downwards to 57.5k 🤣🤣🤣🤣

Edited September 7, 2020 by SiLangKia