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Nudgedoink

Change car now or wait till later?

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if you own a low COE car, is it better to change car when the COE is low, or when the COE is high? Since low COE period means used car also sell low, and high COE period means used car sells high, but new car also cost more. 

Is it proportionate? or is there truly no right time to change?

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Supersonic

Buying a car at lower COE is always better cos you'll never really recover what you should of the COE value on the resale market. Might as well buy cheaper and enjoy the savings upfront. And owning a low COE car means you've already got that discount, why bother to think about lower resale? You'll still be better off than the high COE fellas with the same model. 

And the only right time to change car is when your backside itchy and your wallet full (of cash, not loan). Cars in sg are a want, not a need. And they are not investments, just "assets" that depreciate faster a rock hurled off a cliff in most cases. 

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Supercharged
15 minutes ago, Nudgedoink said:

if you own a low COE car, is it better to change car when the COE is low, or when the COE is high? Since low COE period means used car also sell low, and high COE period means used car sells high, but new car also cost more. 

Is it proportionate? or is there truly no right time to change?

Best time to change is when you have a lot of money.

If you have no money - any time, even $1 COE is a bad time

Jokes aside. If you can coincide low COE period (let's say 20+k) with your car reaching 10year EOL, then that is perfect timing!

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Sell car when COE is high... Take public transport... Wait until COE is low then buy car.. 😋

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15 minutes ago, Turboflat4 said:

Buying a car at lower COE is always better cos you'll never really recover what you should of the COE value on the resale market. Might as well buy cheaper and enjoy the savings upfront. And owning a low COE car means you've already got that discount, why bother to think about lower resale? You'll still be better off than the high COE fellas with the same model. 

And the only right time to change car is when your backside itchy and your wallet full (of cash, not loan). Cars in sg are a want, not a need. And they are not investments, just "assets" that depreciate faster a rock hurled off a cliff in most cases. 

I guess your first sentence really answers my question. I think what I wanted to find out is whether the used car selling price goes up proportionately to the COE price or whether it overreacts or underreacts to the change in COE. Basically, the beta of the used car price to the COE price.

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For example, if my current car was bought with a $20k COE and I am intending to change car. Is it better to change now when COE if $40k vs change in 1 months time when COE is $60k (example)? or is there no difference since resale value will make up for the higher COE of the new car?

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Twincharged

Resale price is based on depre/year, not COE value 

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Turbocharged
24 minutes ago, Nudgedoink said:

For example, if my current car was bought with a $20k COE and I am intending to change car. Is it better to change now when COE if $40k vs change in 1 months time when COE is $60k (example)? or is there no difference since resale value will make up for the higher COE of the new car?

Alamak, COE is 'consumable ' so the higher you pay, the higher the depreciation value you suffer. Buy when it is $1 is the best regardless of when. Got too much money anytime is the right time. 

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Regardless high COE or low COE, you will still end up with lao sai resale. I rather take low coe to lower down my expense.

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Hypersonic
50 minutes ago, Nudgedoink said:

For example, if my current car was bought with a $20k COE and I am intending to change car. Is it better to change now when COE if $40k vs change in 1 months time when COE is $60k (example)? or is there no difference since resale value will make up for the higher COE of the new car?

Buy your new car at 40k COE, hold your old car for 1 month and sell it when COE is $60k.

Don't part exchange with the dealer.

:grin:

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Supersonic

Most ppl think their car can sell for a lot of money. LoL...

How old is your low coe car? Cannot drive already?

If there is still time, always wait for coe to drop.😁

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Supersonic

High coe mean u depre more

high coe is good when u want to scrap ur car halfway lol

 

 

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If you ask a car salesperson, it is always "a good time to change car now". I have never seen a salesperson say that now is a bad time to buy car, house, insurance, etc. The salesperson's own commission is the goal.
I agree with Thaiyotakamli's post above. High COE = high depreciation.

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Turbocharged

I wonder next 2 months COE is up or down.?

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Twincharged
4 hours ago, Nudgedoink said:

For example, if my current car was bought with a $20k COE and I am intending to change car. Is it better to change now when COE if $40k vs change in 1 months time when COE is $60k (example)? or is there no difference since resale value will make up for the higher COE of the new car?

If the scenario is so simple, then change car this month. Because if the COE next month will to be 60k, then the new car price will be up by at least 20k from now, whereas your existing car price will not appreciate much just because COE has gone up by 20k . But in reality, coe will not go up by 20k over a month, it will take a while to increase 20k.

If you are thinking to change car and can afford to change, you can change it anytime, no need to time the market because you will not save much  comparing with the huge amount of money you will to spend on a new car.

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5 hours ago, t0y0ta said:

Best time to change is when you have a lot of money.

If you have no money - any time, even $1 COE is a bad time

Jokes aside. If you can coincide low COE period (let's say 20+k) with your car reaching 10year EOL, then that is perfect timing!

Err ....... this statement may be true in 2008, by 2017, it is like DAYLIGHT ROBBERY ........ The ROBBER are either LTA or Car Dealer.  They work hand in hand to SCREW US ALL lor.

What PAP BIG TALK about GREEN wor ..... What 100B to SHORE UP our SHORELINE ?  What EV INCENTIVE sia ...... My S OK hor.

FOR THAT MATTER, WE CAN'T EVEN SENSIBLY USE PLASTIC BAG lor

It is ALL about MONEY lor.  REALLY !!  GOT MONEY GOT HONEY one .....

 

WHAT ?? I TALK RUBBISH ??  My Kia Carens buy 103K COE 49996 lor ...... AFTER VES, COE drop to 30K, C&C sell AT 109K lor.

My LATEST trend-line ....... IF U want a 5 seater 70~80K Cheapest, IF U want 7 seater at least 100K onward lor.  The 2 extra seat COST about 20++K ba .......BB Car hor.

The Benny or 911 Emergency or whatever, please go to your respective interest group lor ......TC Apply.

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Turbocharged
13 hours ago, Soya said:

Resale price is based on depre/year, not COE value 

actually both new and resale cars also look at annual depreciation...

(selling price - 0.5ARF)/number of months left

 

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