Should I get a new car or renew COE?

[Arogab]

2 hours ago, Ody_2004 said:

I by default never sell car to pple i know.. not say my car got any issue.. just don wanna break any relationship 😁

 

Totally true, at least my Camry at 9.5 years was sold to the Sales Engineer at extra 5k but no hassle after that. My friend say he could have offer up to extra 10k for renewing COE looking at my super good condition for renew COE. No way. If there is any issue after that, he may come back to me

[Ct3833]

On 10/10/2022 at 6:03 PM, Arogab said:

My friends always ask me, "if you want to sell your car, tell me" I always never tell. Cos they also don't pay me market rate but they know my car is very well kept.

I bought  a used car from my wife's colleague before, I paid him 1 k above the highest dealer's offer, win win.  If a car is properly maintained, It is worth paying form it, because one saves the trouble of going through  dealers , paying more to buy a car with uncertain history of  maintenance and ownership. 

Just to clarify, I will not go back to her colleague to ask for anything if the car develops any problem after taking over, in all fairness it is a goodwill buy and sell transaction, he didnt promise anything, neither did i ask for  any assurance. 

Edited November 4, 2022 by Ct3833

[Ct3833]

On 10/11/2022 at 6:46 AM, Ody_2004 said:

I by default never sell car to pple i know.. not say my car got any issue.. just don wanna break any relationship 😁

 

I sold  my pair of w212 spare  headlamps in carousell to a gentleman  recently, I followed up after a few weeks to ask if the lamps have problem, he told me he sent for polishing, I was shocked, I asked him how much so that I could compensate him, he said no need. 🤣

[Arogab]

On 11/4/2022 at 6:44 PM, Ct3833 said:

I bought  a used car from my wife's colleague before, I paid him 1 k above the highest dealer's offer, win win.  If a car is properly maintained, It is worth paying form it, because one saves the trouble of going through  dealers , paying more to buy a car with uncertain history of  maintenance and ownership. 

Just to clarify, I will not go back to her colleague to ask for anything if the car develops any problem after taking over, in all fairness it is a goodwill buy and sell transaction, he didnt promise anything, neither did i ask for  any assurance. 

It is good that you think this way. But many people don't think this way. So, if I am seller, I'd rather not take any risk

[Rickster]

On 10/8/2022 at 1:05 PM, Ct3833 said:

Both my COE cars(renewed during low COE) are so far ok. One depre at $600 per month, the other $300 per month, cheaper than taking bus. Insurance wise  both  are still comprehensive at 13+years.  

You are correct that the diff now may not be as much due to high COE, it is why in my own opinion, I will go for an old used car to ride over the high coe period.  

What cars are they?

I think renewing COE, besides the obvious PQP, has alot to do with type of car and mileage on it as well. Trust me, you wouldn't want a french/italian car with over 200K on the odo.

I used to be considering renewal of COE for my mazda 2 and eventually decided against it, even though the depreciation of that car is like only $4.8K per year (COE then was like 12K for CAT A). Main reason was my mileage is well over 240K and there are quite a number of issues/wear and tear with the car that will be quite costly to be repaired if all added up. Getting a new car with annual depre at 7K during that time is more worth it if factoring in the repair costs, downtime, better fuel efficiency and safety equipment.

 

Edited November 7, 2022 by Rickster

[Jamesc]

Why sell to a fren?

Anything goes wrong you lose the friendship.

Sell to jamesc.

[Rickster]

1 hour ago, Arogab said:

It is good that you think this way. But many people don't think this way. So, if I am seller, I'd rather not take any risk

Same here, coz I believe even if they don't complain, the possibility of ill feelings/suspicions developed thereafter is too much of a risk. 

[Koster]

Whats so magical in 3 years' time that will cause COE to drop?

[inlinesix]

2 minutes ago, Koster said:

Whats so magical in 3 years' time that will cause COE to drop?

GE?!?!?

[Ct3833]

2 hours ago, Rickster said:

What cars are they?

I think renewing COE, besides the obvious PQP, has alot to do with type of car and mileage on it as well. Trust me, you wouldn't want a french/italian car with over 200K on the odo.

I used to be considering renewal of COE for my mazda 2 and eventually decided against it, even though the depreciation of that car is like only $4.8K per year (COE then was like 12K for CAT A). Main reason was my mileage is well over 240K and there are quite a number of issues/wear and tear with the car that will be quite costly to be repaired if all added up. Getting a new car with annual depre at 7K during that time is more worth it if factoring in the repair costs, downtime, better fuel efficiency and safety equipment.

 

ltis, E200, i took over the altis when it was 240k km on the Odo, i was prepared to do a autotrans repair but till now , it has clocked more than 300k km , the autotrans is still working . The car is so basic that it has nothing to breakdown except for wear and tear. The E200 is ok so far but recently cost me 2.7k to replace the ECU after 190k km, plus some minor items like rain sensor, rear truck actuator and some plastic that i replaced them myself.  Otherwise so far so good.  We can talk about more road tax, fuel efficiency, higher maintenance cost etc, but the saving on ARF, Excise tax , dealer margin etc etc is more than enough to offset those mentioned items. The only thing is losing face which is ok with me because i am a thick skin person.😆

[Rickster]

Your Altis trans is really solid. My previous Mazda trans at 240k was also holding up well, but I wouldn't bet on it surviving much longer.

Would be good if you can get your older cars to check if the airbags and abs/traction control still functioning. I've been thru accidents being rammed by jokers. Car active and passive safety is something I won't scrimp on.

[Ct3833]

4 hours ago, Rickster said:

What cars are they?

I think renewing COE, besides the obvious PQP, has alot to do with type of car and mileage on it as well. Trust me, you wouldn't want a french/italian car with over 200K on the odo.

I used to be considering renewal of COE for my mazda 2 and eventually decided against it, even though the depreciation of that car is like only $4.8K per year (COE then was like 12K for CAT A). Main reason was my mileage is well over 240K and there are quite a number of issues/wear and tear with the car that will be quite costly to be repaired if all added up. Getting a new car with annual depre at 7K during that time is more worth it if factoring in the repair costs, downtime, better fuel efficiency and safety equipment.

 

Take it with a pinch of salt, this type of reports can be bias at times.

...10 European Everyday Cars That Will Bankrupt You Through Maintenance And Repairs.....

https://www.hotcars.com/european-cars-that-will-bankrupt-you-through-maintenance/

[Mkl22]

1 hour ago, Rickster said:

Your Altis trans is really solid. My previous Mazda trans at 240k was also holding up well, but I wouldn't bet on it surviving much longer.

Would be good if you can get your older cars to check if the airbags and abs/traction control still functioning. I've been thru accidents being rammed by jokers. Car active and passive safety is something I won't scrimp on.

toyota ancient 4speed is damn robust. if do regualr ATF oil changes, easily 400-500k

i guess it depends on ones outlook. an ancient 4speed which can last damn long, but not so efficient or a more fragile CVT that is more fuel efficient but shorter lifespan.

 

Edited November 7, 2022 by Mkl22

[godson_lee]

I am driving a 3 years old car already lots of problems...