Make sense to downgrade my car to Cat A now?

[clickb8]

I bought Cat E car at 33k COE in 2018 (Cat A was 25k at the time), does it make sense to downgrade from Cat B to Cat A car now?

Cat E is now 98k while Cat A is now 68k, so the price gap has grown from 7k in 2018 to 30k now.

Does this mean I make 23k profit (before adjusting for COE depreciation)?

[macrosszero]

Don’t itchy backside. 

Keep and drive on.

Unless you don’t need to take a loan, then it tells me minor expenses like a car purchase are insignificant in your net worth balance sheet.

 

[clickb8]

Understood. The reason I’m asking is also that my family has become bigger so I’m tempted to switch from my current sedan to a Cat A mini MPV (Sienta or Freed). My depreciation will remain about the same and since I’m getting a new 10-year COE, I get to lock in this depreciation rate for a longer period. Also the Cat A car is more fuel efficient, I could probably save $1.5k in petrol + road tax a year based on current fuel prices. Does that make more sense now?

Edited March 9, 2022 by clickb8

[Ct3833]

45 minutes ago, clickb8 said:

I bought Cat E car at 33k COE in 2018 (Cat A was 25k at the time), does it make sense to downgrade from Cat B to Cat A car now?

Cat E is now 98k while Cat A is now 68k, so the price gap has grown from 7k in 2018 to 30k now.

Does this mean I make 23k profit (before adjusting for COE depreciation)?

If you used a Cat E for a Cat B premium car, then maybe it is worth to change to a Cat A car now,  but you still have to do your sum.  But if you use  Cat E for  Cat A car , then save your breath, you won't gain much. 

[Mahjong74]

54 minutes ago, clickb8 said:

I bought Cat E car at 33k COE in 2018 (Cat A was 25k at the time), does it make sense to downgrade from Cat B to Cat A car now?

Cat E is now 98k while Cat A is now 68k, so the price gap has grown from 7k in 2018 to 30k now.

Does this mean I make 23k profit (before adjusting for COE depreciation)?

@clickb8 

You are indeed very smart. Don't wait any further. Now is the best time to downgrade to Cat A car now. 

Walk into any showroom and ask the honest SE. They will tell you Now is the best time to get a Cat A car. 

You will save $$$ on petrol, road tax, insurance etc............you will make much more than 23k profit!

Life is short, so just YOLO. 

 

[clickb8]

@Mahjong74 hahaha okay I can’t tell whether you just trolling me bro 

Edited March 9, 2022 by clickb8

[BabyBlade]

8 minutes ago, clickb8 said:

@Mahjong74 hahaha okay I can’t tell whether you just trolling me bro 

Your username already says clickbait. 😆

[clickb8]

@yishunite yep I think I have to change for family reasons sometime down the road. There isn’t an urgent need to do so right now (still only 1 kid), but the large price gap between Cat A and Cat B/E got me tempted and I wonder if this is the best time. I’m a first time car owner and haven’t changed to a second car before, so wondering if downgrading from Cat B/E to A during large price gap is a good strategy generally speaking.

[clickb8]

@yishunite what you mean by get back?

[clickb8]

@yishunite true… will the 10-year cycle do it’s magic? Maybe in 2028?

[1fast1]

57 minutes ago, Mahjong74 said:

@clickb8 

You are indeed very smart. Don't wait any further. Now is the best time to downgrade to Cat A car now. 

Walk into any showroom and ask the honest SE. They will tell you Now is the best time to get a Cat A car. 

You will save $$$ on petrol, road tax, insurance etc............you will make much more than 23k profit!

Life is short, so just YOLO. 

 

I swear to Dog, I thought you were @Jamesc😁

[Jamesc]

24 minutes ago, Turboflat4 said:

I swear to Dog, I thought you were @Jamesc😁

I completely agree with you

as always because great minds think alike.

I also can see the genius in @mahjong1974 reply.

I would have posted exactly the same reply - not one word changed.

[Jamesc]

A username like @mahjong1974 can only be a sincere poster

who loves mahjong and born in 1974.

However a nick like @clickb8 is as @BabyBlade

has already pointed out the perfect nick for a troll.

I am not saying clickb8 is a troll at all

just that its a perfect nick for a troll.

[BabyBlade]

50 minutes ago, Jamesc said:

A username like @mahjong1974 can only be a sincere poster

who loves mahjong and born in 1974.

However a nick like @clickb8 is as @BabyBlade

has already pointed out the perfect nick for a troll.

I am not saying clickb8 is a troll at all

just that its a perfect nick for a troll.

Ok zip!

[1fast1]

5 hours ago, BabyBlade said:

Ok zip!

Ok unzip! 😂😂😂

Sorry, I just couldn't resist, but you walked into that one. 😁

[Ct3833]

8 hours ago, clickb8 said:

@yishunite yep I think I have to change for family reasons sometime down the road. There isn’t an urgent need to do so right now (still only 1 kid), but the large price gap between Cat A and Cat B/E got me tempted and I wonder if this is the best time. I’m a first time car owner and haven’t changed to a second car before, so wondering if downgrading from Cat B/E to A during large price gap is a good strategy generally speaking.

Dont look at price gap between Cat A and Cat E, you should be comparing  Cat A against Cat B instead. 

Ideally, you dont want to buy a car with high COE, because if you will to sell it when when COE is low, you will get back paper value only .

In your case, you should go get  a quote from a few dealers on the car you intend to buy and the price they could offer for your existing car, with that you could have a clearer comparison, otherwise there will be a lot of guess work. 

So go get  some quotes and come back here to have a more realistic discussion.

Since you are not an experienced buyer , remember not to bring your credit card and check book along, in case you get sweet talked  or pressured into buying one on the spot.

Edited March 10, 2022 by Ct3833

[shrjun]

9 hours ago, clickb8 said:

I bought Cat E car at 33k COE in 2018 (Cat A was 25k at the time), does it make sense to downgrade from Cat B to Cat A car now?

Cat E is now 98k while Cat A is now 68k, so the price gap has grown from 7k in 2018 to 30k now.

Does this mean I make 23k profit (before adjusting for COE depreciation)?

I don't even understand this question . Its a 3 - 4 year old car . Now prices are through the roof . How is there any profit happening ? 

 

P.S Didn't you ask the same question on hwz 🤭

Edited March 10, 2022 by shrjun

[Mkl22]

Not sure what catB car you trying to sell? Some cars have lousy resale. Even though coe goes up, the used selling prices don’t go up that much. 
so you might not reap the full benefits of a higher coe now. 

Just head to sgcarmart and check out the prices of the same car for sale to have a gauge of the price. Take 10k off if  bread and butter car and maybe even 15-20k for a higher end catB. That would roughly be your dealer take in price.