High COE cars

[Jamesc]

Oh this one not me hor.

This one my customer tell me why he upgrading the spot car I sold him.

5 minutes ago, Jamesc said:

Also kids lah. When you young you buy a spot car and say will drive for 10 years until scrap.

But condom broke and you get married and have a kid then need to carry a pram so have to buy a bigger car. Haiz.

 

[ferrytales]

3 hours ago, Roh96 said:

I recog that when COE was low time in 2019, most ADs' margin was high. For example, in 2017, new Altis was $103K when COE was $51K. In 2019, Altis was selling at around $95K but COE was below $30K. So to dump a 2017 car for another new car in 2019, wu hua meh? I asked myself... 

The numbers are real hor...bcos i was thinking whether to change but the numbers doesn't convince me to do so.

2017 - bought my a small hatchback car at 84k. coe 46k + parf 5.5k

2019 - sold my car at 57k (27k loss) and bought a sedan at 74k with 28k coe + parf 7k.

over the 12 years from 2017 to 2029, my depre works out lower/same so it made sense for me to change. 

[Spurman]

57 minutes ago, Jamesc said:

Oh this one not me hor.

This one my customer tell me why he upgrading the spot car I sold him.

 

Cars with spots ah.

Cannot buy liao lor. Got holes liao.

[Zxcvb]

1 hour ago, Jamesc said:

When you buy a car with low coe you should drive to scrap. But it never works that way because when coe goes up you can sell your car for the same price you bought or even higher after driving for a few years.

This is true. Those who bought their cars during 2008/2009 with low COE can actually sell the same price as they've bought in 2013/2014. Some can even profit!! But the downside is buying a newer car will cost you dearly. So most just continue driving. 

[Windwaver]

I drive till scrap, avoid the headache 

[Windwaver]

1 hour ago, Roh96 said:

Is like endless chase...just keep burning $$.  

Yup, it's always down the drain, really depends if you need the ride or not.

 

[Mkl22]

2 hours ago, Roh96 said:

Let's continue to compare the Altis case.

In 2017, COE $51K, Selling price $103K, Annual depre = $9.3K

In 2019, COE <$30K, Selling price $95K, Annual depre = $8.5K

Haven't count the losses if trade in to dealer using paper + body calculation. How much will dealer take in a 2 yr old car if new car is selling at $95k? Maybe $80K at most?

Worth to incur big loss just to buy another new car with 800 dollars lower in depre? 

 

 

I would calculate like this. 
assume both cars 10k parf 

Assuming like you mention, selling the car for 80k.
So, 103k + 15k(new car) - 10k (parf) and then divided by 12 years. Which gives you 9k.

Which is cheaper than holding on to the 2017 car. Of course all the loans and mambo jumbo not added in. Pure cash deal to make calculation easier. also it brings you to 2029 where likely there will be a lower price of coe. 
Trigger point for most will be when the 2017 will need some $$ for repairs. For an Altis it will not be much so you won’t have significant savings. But for some makes it might make sense. 

Edited February 19, 2021 by Mkl22

[Throttle2]

Sell high buy high

sell low buy low

simple as ABC

Unless sell already kick the bucket no meed to buy anymore.

muayhahhahahaha

[Watwheels]

It's just too late to ask this question. You should have post the question here before you buy and not after.

But thanks for contributing to our nation's road building infrastructure. Your contribution is most valuable. You contributed more than us. Cheers.

[Vinceng]

It's a no brainer to scrap - why would you want to have a COE paper depreciation of $7,600  year

[Vinceng]

5 hours ago, ferrytales said:

2017 - bought my a small hatchback car at 84k. coe 46k + parf 5.5k

2019 - sold my car at 57k (27k loss) and bought a sedan at 74k with 28k coe + parf 7k.

over the 12 years from 2017 to 2029, my depre works out lower/same so it made sense for me to change. 

That is provided you drive your 2019 sedan till scrap.

[sHy3r]

In Feb 2010, I heard of news that LTA will reduce the number of COE.. so I walked in to KIA Showroom and take a look at Forte. They were selling $55,900 for SX model. At that time, COE was $19k... 

So I confirm the deal and buy it at $55,900. They try to bid a COE for me. The COE keep increasing. Sales person then ask me to top up $2k Of the selling price as COE keep climbing.. Finally on 5th round, they secure a COE of $30,000 for me. And I bought it at $57,900 with $30k COE.

Move forward 3 years later in 2013... I itchy backside wanna change a used car... I traded in my Forte at $58k. 

I wonder when will this scenario happen again... I will definitely hop in without a thought to buy. 😀 In 2019, during CB, this scenario happened.. but the new car price is not as low as below $60k. Cerato was selling at above $75k... 

 

looks like I have to guai guai keep this car till scrap... and decide if I want to renew COE or change car... ☹️

[Brass]

31 minutes ago, sHy3r said:

In Feb 2010, I heard of news that LTA will reduce the number of COE.. so I walked in to KIA Showroom and take a look at Forte. They were selling $55,900 for SX model. At that time, COE was $19k... 

So I confirm the deal and buy it at $55,900. They try to bid a COE for me. The COE keep increasing. Sales person then ask me to top up $2k Of the selling price as COE keep climbing.. Finally on 5th round, they secure a COE of $30,000 for me. And I bought it at $57,900 with $30k COE.

Move forward 3 years later in 2013... I itchy backside wanna change a used car... I traded in my Forte at $58k. 

I wonder when will this scenario happen again... I will definitely hop in without a thought to buy. 😀 In 2019, during CB, this scenario happened.. but the new car price is not as low as below $60k. Cerato was selling at above $75k... 

 

looks like I have to guai guai keep this car till scrap... and decide if I want to renew COE or change car... ☹️

2019 no CB and Covid-19 yet 

HAHAHAHAHAHAHA

😂

[D3badge]

On 2/18/2021 at 11:37 PM, sHy3r said:

Dear all,

I need some advice from you guys. 

I am currently driving a 2013 car (2nd owner) with a high COE of $76k. I recently enquire trade in price and was surprise to hear from dealers that they don’t want to take in this car, but they can help me ask exporter price if I want to or drive till end of 10 yrs. (Current car left with 2.5 yrs) Those dealers who willing to quote as trade in, only offer few hundred more than current paper value. 
 

When I purchase the used car in 2017, the dealer told me that high COE is a good buy. Paper is high. But now, there are dealers who don’t want take in this car for resale because the COE is $76k...

Any idea why they don’t want to take in my car for trade in? Is there a reason? How much COE then has resale value in future? Is it a good time to sell my 2013 car now? Or I should keep till scrap?
 

Thank you. 🙂
 

 

there is another important factor you didnt disclose which is important for trade in value is the MAKE and MODEL!!!! certain can be sold easily within one month, certain need 9 mths or more to sell unless lucky!!

[Davidklt]

On 2/19/2021 at 7:14 AM, ER-3682 said:

My Mazda 6,2.5 with full Options,bought Feb 2013,COE $96,000,going to sell on June in June,because i booked a new Car,the Price just Paper + $1,000 for the Body,Car in good Condition,just less than 100,000Km...

I bought a 2013 Mazda 3 before. Because of the high COE and based on the price I took over, the previous owner "lost" something around $22k per year. 

[Davidklt]

On 2/18/2021 at 11:37 PM, sHy3r said:

Dear all,

I need some advice from you guys. 

I am currently driving a 2013 car (2nd owner) with a high COE of $76k. I recently enquire trade in price and was surprise to hear from dealers that they don’t want to take in this car, but they can help me ask exporter price if I want to or drive till end of 10 yrs. (Current car left with 2.5 yrs) Those dealers who willing to quote as trade in, only offer few hundred more than current paper value. 
 

When I purchase the used car in 2017, the dealer told me that high COE is a good buy. Paper is high. But now, there are dealers who don’t want take in this car for resale because the COE is $76k...

Any idea why they don’t want to take in my car for trade in? Is there a reason? How much COE then has resale value in future? Is it a good time to sell my 2013 car now? Or I should keep till scrap?
 

Thank you. 🙂
 

 

What car is that?

[sHy3r]

16 hours ago, Brass said:

2019 no CB and Covid-19 yet 

HAHAHAHAHAHAHA

😂

Opps! 2020! Hahaha

[sHy3r]

15 hours ago, D3badge said:

there is another important factor you didnt disclose which is important for trade in value is the MAKE and MODEL!!!! certain can be sold easily within one month, certain need 9 mths or more to sell unless lucky!!

Ya unfortunately, my car model is not popular one...