KiaCeratoHB 2nd Gear July 15, 2016 Share July 15, 2016 Hi bros, I've been calculating but not sure which is the more economical option for me. Appreciate your thoughts and advise which is an overall more economical decision. I'm currently driving a 2008 Stream, COE expiring March 2018 with $15K loan left and OMV $20,486. Is it more economical to change car now or wait till COE expire? If I were to change now, I will likely go for 5+2 cars such as Wish & Touran. Putting aside COE fluctuations, let's assume COE remains at current level from now till 2018. 1) If I wait till COE expire (20 mths fm now) Outstanding loan : $15K Scrap Value at end of 10 Yrs : $10K Nett Cost if usage : $5K Annualised depreciation : ($15K-$10K)/20 * 12 = $3K 2) If I change car now Expected selling price of existing car : $27K (is this a reasonable assumption?) So I basically loose $17K for using this car for 20 months which works out to be $10,200 annually. so which is the more "correct way" of looking at the cost of ownership? The other thing is that assuming I use the next car for 10 years, Option 1 will allow me to drive the new car till 2028 option 2 will allow me to drive the new car till 2026 how do I consider that 2026 to 2028 difference for this decision? ↡ Advertisement Link to post Share on other sites More sharing options...
RadX Moderator July 15, 2016 Share July 15, 2016 Many other threads and no need to start your own Locked ↡ Advertisement Link to post Share on other sites More sharing options...
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