Advice needed for COE cars

[Yansen]

hi everyone.. i'm new here n lookin for a COE car... after several mths i narrowed down my choice to de following.. pls gimme ur advice on each cars... thx ah..

 

1. 93 corolla 1.6 GLi (wld like it to haf a longer COE till ard '11-'12)

2. 90/91 civic GL (wld prefer a 5 yr COE car wif de COE ending ard 1-2 yrs time)

 

haha cant afford ani betta cars liaoz... but if anyone has other better options for mi pls lemme noe... my budget is ard <35K for a 10yr COE car n 3-4.5K for a 5yr COE car.. btw wld appreciate if somemone can explain de if a 5 or 10 yr COE car makes better financial sense..thx alot

[Genie47]

Depends on your needs or attitude to car ownership.

 

A 1-2yr left COE car is good for the short term, if you have higher aims like that Ferrari you ooops.... sorry! Mazda Protege. 5yr, 10yr doesn't make a difference, you don't intend to keep the car. You got your sights on a better, newer car.

 

If you see the car as some luxury no matter the make or newness, then a almost fresh 10yr COE car is for you.

 

Then again, if you have not much cash and want to go for the killer loans that the dealers are dishing out for the almost fresh 10yr renewed COE cars, forget it. Doesn't make financial sense.

[Yansen]

hmm thx alot for ur advice.. aniwae i tink at dis stage in time i view a car as more of a need, for convenience so its more like a luxury. so based n what u say, is there another viable option for car ownership, since 10yr COE cars are not gd financially? i tink its better for me to get a 1-2 yrs remaining COE car like the civic GL type. what r ur views and opinions on this? financially wld this be the best possible choice given my low budget at de moment? and issit true dat a reasonable price for a 90/91 civic GL wif 1-2 yrs to go wld be around 3-4K? thx again.

[Genie47]

I'm not sure about a Civic GL's prices. I do know that most 1-2yr left COE cars are around 5-6k. These cars are hard to find. You have to do a lot of leg work at the used car emporiums. On top of that 5-6k, you still have to set aside that 1-2k for some niggly repairs. New tires are a must. The odd servicing of the A/C or brakes. New engine oil as well if there are no records of oil changes indicated.

[Ravinged]

Hi,

 

Not much advice I can give as I am a newbie myself ... but just to share my experiences.

 

I recently purchased a Civic ESI ... with about 8 years left on the road after renewing it's COE in the Aug 2001 saga. As far as I know, this also brings down the overall worth of my car, on top of the fact that PARF value is a gone value.

 

Short term - with 5 yrs left, sounds good but considering the long lifespan and interest to pay for the rest of the years, as others adviced, not a really good choice. You have to service and change parts for the cars which only last you that long.

 

Long term - I chose my car because the COE renewed was in advance of its actual date of expiry. (Suppose to be 2003 but renewed in 2001) In a way, the car has been used for 10 years and with proper care and handling, she can still last me a long road ahead. If I were to change the parts, at least I know i would get to use them for a longer time down the road.

 

Most importantly, choose one that has no accident, or at least minimum accident. The moment the welding goes beyond the radiator, I would suggest you give that car a miss. Another important point to look out for as taught, is the alingment of the car. This is something which occurs, majorly because of accidents (if I am not wrong) and sometimes due to tyre changing or camber replacement. Check through the whole chasis through a reliable mechanic, and preferably without the car agent around (asI have discovered).

 

The mechanic I met, was kind enough to stuff me with information about the car, luckily, because he had repaired that car before - after a major accident. That, he wasn't comfortable to tell me if the car agent was around. (That's explains why I was pulled to one corner to talk out of the sight of the agent)

 

But prepare a sum of money to change parts, like other experienced drivers have said. It is very important to change certain parts to suit to your driving style, like new suspension, new radiators, or parts to replace wear & tear (commonly seen in COE cars) components.

 

Also, kind advices I have received includes - the first 2 or 3 years, you are oly servicing the loan interest and not the car itself. So it would be your choice how long you intend to have this car and balance it against the condition of the car and interest rate.

 

Best regards,

 

Ed

Edited November 20, 2003 by Ravinged

[E36UDM]

Welcome to MCF

 

Like what the rest have mentioned, its better not to buy COEed cars as interest charges are higher and insurance is another issue.

 

Anyway do join us for our weekly meetups

[Acemundo]

what do you all think of 18yr old coe car with 2 years left to expiry....though a bit leh cheh, yearly depn can be as low as $3000.......plus the low insurance and no need to take loan, sounds attractive.

[E36UDM]

What car is that?

[Acemundo]

no specific car lah, reading ads got charade, got startlet at such low depn

[E36UDM]

think depreciation can be lower lor

[Acemundo]

yeah, one charade got coe till dec 06 selling $5500 only

[E36UDM]

anyway think can squeeze cheaper lah...not much people will buy also u considering?

[Acemundo]

thinking....but still quite tentative until i firm up my other plans

[E36UDM]

ic maybe we can talk about it tomorrow. So tomorrow how?

[Acemundo]

will come meetup, but fv looks like no go unless we recce ourselves or get guyver to show us arnd

[E36UDM]

wat about miss sass?

[Acemundo]

hehe....fly aeroplane

[Genie47]

You also eye-ing on such a car? Can talk to me also. I'm driving those 18yo Starlet. Yes, Charade, Starlet, Swift @ 18yo is around 5.5k Best find out when COE expire. Especially month and year, then search and see how much COE was initially paid. From there you can see how much more premium you are paying above the leftover COE value of the car. I paid around 1.3k premium for mine. Face it lah, the car dealer also need to eat.

 

But really, the repairs is the big ????? for such a car. The previous owner can be good or bad. Best set aside 1-2k for such stuff. At least the previous owner of mine changed oil. But the CV joints are screwed, not forgetting the radiator. Two months of ownership and things have smoothen out. No more repairs already.