Would you buy a new or used car for your next car?

[thatJDMahboy]

From the latest COE results (April 1st Bidding), COE prices are sky-high right now!

CAT A: $72,996 🔼 $1,440

CAT B: $98,389 🔽 $500

CAT C: $54,901 🔼 $3,397

CAT E: $99,999 🔼 $989

And that's a good $100,000 for an intangible item!

IMO, I would absolutely hate to drop $140k just to purchase a brand new Toyota Corolla Altis.

It is just not worthwhile to me. And don't forget our high petrol prices!

A full tank of RON95 for your Toyota Corolla Altis will easily cost you approximately SGD$110 after a 21% discount.

Yup, petrol in Singapore has never been more expensive.

I am sure after reading this, you wouldn't be surprised either - You would have been fully aware of the cost of living in one of the world's most expensive cities!

Regardless of how expensive owning a car and living in Singapore is, there are always some individuals who would benefit from the convenience of owning a car.

And these individuals include but are not limited to salespeople and individuals with young kids and/or aged parents.

Now, if you are looking to buy your next car, why not consider a used car instead?

After all, it serves the same purpose of transporting you from Point A to Point B and lightens the burden of a brand new car's hefty annual depreciation!

Let us know your thoughts in our survey here! We would like to see how we can improve your used car buying experience!

 

 

Be the first to get the latest road/ COE news, and get first dibs on exclusive promos and giveaways in our Telegram SGCM Community. Join us today!

[Jamesc]

Don't talk nonsense its not $100,000.

My wife bought something for 9.99 I said it's $10 and she said no it's not!

It was less than $10.

 

[Jamesc]

For all the smart people that said used car come to jamesc used cars for April no fool promotions.

[Fitvip]

Would it be wise to buy a used car that costs more than the original purchase price?🙂

It is a lose lose situation!

Edited April 7, 2022 by Fitvip

[Ginyu]

When coe goes up, both brand new and used car prices will go up too. Either don’t buy or work harder to afford it 😂 

[Ct3833]

3 hours ago, thatJDMahboy said:

From the latest COE results (April 1st Bidding), COE prices are sky-high right now!

CAT A: $72,996 🔼 $1,440

CAT B: $98,389 🔽 $500

CAT C: $54,901 🔼 $3,397

CAT E: $99,999 🔼 $989

And that's a good $100,000 for an intangible item!

IMO, I would absolutely hate to drop $140k just to purchase a brand new Toyota Corolla Altis.

It is just not worthwhile to me. And don't forget our high petrol prices!

A full tank of RON95 for your Toyota Corolla Altis will easily cost you approximately SGD$110 after a 21% discount.

Yup, petrol in Singapore has never been more expensive.

I am sure after reading this, you wouldn't be surprised either - You would have been fully aware of the cost of living in one of the world's most expensive cities!

Regardless of how expensive owning a car and living in Singapore is, there are always some individuals who would benefit from the convenience of owning a car.

And these individuals include but are not limited to salespeople and individuals with young kids and/or aged parents.

Now, if you are looking to buy your next car, why not consider a used car instead?

After all, it serves the same purpose of transporting you from Point A to Point B and lightens the burden of a brand new car's hefty annual depreciation!

Let us know your thoughts in our survey here! We would like to see how we can improve your used car buying experience!

 

 

Be the first to get the latest road/ COE news, and get first dibs on exclusive promos and giveaways in our Telegram SGCM Community. Join us today!

TS, you are mixing   petrol price with buying new vs old car,  whether new or old car, petrol  price will be the same, instead, typically  an old car will be less fuel efficient , which means higher fuel consumption than a new car. 

Buying an old car may not  necessarily be  wise, many of the used car have the same annual depre as that of a new car, if not higher. 

if really want to be safe, buy a used car that is about 3 to 4 years left , bear with the depre now and hope COE price will drop in a few years time before changing to a new car. 

Edited April 7, 2022 by Ct3833

[Confusedboi]

next car will be BMW.... bus mrt walk...

Cannot afford car liao...😭😰

Current COE car will need to scrap in 2 years one month time

[Soya]

In MCF, it's not about whether buy new or used car hor

It's about whether pay full cash or not

So there

 

[Ct3833]

9 minutes ago, Confusedboi said:

next car will be BMW.... bus mrt walk...

Cannot afford car liao...😭😰

Current COE car will need to scrap in 2 years one month time

buy a COE Tesla, parf value near $0, spend some money to replace all the batteries, still cheaper than typical  PARF write off. I hope LTA wont be here the read my post, or else they will  plug the loophole soon. 

[D3badge]

1 hour ago, Ct3833 said:

buy a COE Tesla, parf value near $0, spend some money to replace all the batteries, still cheaper than typical  PARF write off. I hope LTA wont be here the read my post, or else they will  plug the loophole soon. 

are there COE Tesla now? by then COE tesla appear on the market, policy will have change to plug the so call loophole.

[Benarsenal]

No money buy car. Can only BMW (Bus MRT Walk). Or MB (Maybe Bicycle).

[Ct3833]

22 minutes ago, D3badge said:

are there COE Tesla now? by then COE tesla appear on the market, policy will have change to plug the so call loophole.

10 years later lah, not now , now drive other COE car first. 🤣🤣

My coe car  coming to 13th years already, still going strong

🤣🤣

Edited April 7, 2022 by Ct3833

[Thaiyotakamli]

Sell ur Cat B buy used Cat A

 

and if die die want change car best get used. Much lower depre than getting new. Don’t care how much the price of prev owner bought, better than paying additional 30-40k now for new car

[Dannnn]

IF buy new car now at 90k COE, 5yrs later COE 40k, how much can the car sell?

[Mkl22]

36 minutes ago, Dannnn said:

IF buy new car now at 90k COE, 5yrs later COE 40k, how much can the car sell?

Scrap or maybe export is the better term, unless it a car that no one wants, like a geely, hafei or similar crap in the past. Then these will end up in the scrap metal heap. 

Edited April 7, 2022 by Mkl22

[Fmsamson]

Ford 

[Dannnn]

8 hours ago, Mkl22 said:

Scrap or maybe export is the better term, unless it a car that no one wants, like a geely, hafei or similar crap in the past. Then these will end up in the scrap metal heap. 

depends on the car body value at before 5th years.

i did a calculation for Tesla M3.

with 80k COE, the depre is 16.5k.

if scrap before 5th year, i dono how much is the body worth but i put 8k. if scrap + body , depre become high at 23k.

then buy a new tesla then at 40k coe, new tesla + old tesla ( total 15years ) depre average out at 18k+.

[Ginyu]

Last time when coe 90-100k, economy still good, job still stable but now 

13 hours ago, Confusedboi said:

next car will be BMW.... bus mrt walk...

Cannot afford car liao...😭😰

Current COE car will need to scrap in 2 years one month time

You are not alone, many will be joining 😭