Should I scrap my 3 year old Cat A car?

[Mann123]

 

end of day, do you NEED the features that's listed for the cars??

 

Different people with different choice. There are people who change just because of they no longer like the current Car looks only

[Blueray]

Lol. 2 years later what if backside itchy again? The cheaper depreciation over ten years rationale ONLY works if u hold long term. I got a friend who changes car (all except one was first hand) every 2 years since he started work. But he's the type must have the newest and bestest.

Precisely.

 

My cousin is itchy backside type and knows it. Buys only 8yo cars. Buy paper, sell paper.

[DACH]

Hi Bro, 

 

I took a test drive on the vehicle, and I was quite impressed frankly. 

But convinced... only half half. As I still held back and told him that I need time to think.

 

This is why I'm asking for advice from the experienced guys here... 

 

My family was with me at the time and they felt the same as me.

 

They had many features not seen on the City... and the SE was kind enough to let me go on a considerably long test drive.

 

I tested out many of the features while driving.

 

Since you are only half convinced, suggest you keep the car for now, especially it is still new and problem free.

My car is also coming to 2 years but then now, not really that tempted to change car since I think it is quite a waste to change such a new car.

Been going for test drives, car showrooms with some friends who want to change car, but still immune to those sales talk and new car test drive.  

 

Anyway, new Elantra is launching soon. No point buying now since you are buying an outgoing model.  

[RogerNg_185295]

i was also doing similar decision earlier.

i went to a few new car showroom and looking at the new cars and even got clearance sale (prior to July VES2.0)

 

prices was good, and many perks are out there.. paying Non-guaranteed deals but SE mentioned sure get car as long as long gets thru and don't need for Guaranteed prices.

 

new cars have lots of feature, blind spot assist, auto dimming, rear air-con, bluetooth, charging ports, etc etc.. woah see until blur..

got back to my basic car, not much in it..

 

but i went back thinking,

driving time daily 1 way is about 50mins-1hr ,

how many calls am I taking on the move(not in sales), 4-5 times a week perhaps

charging phone 50mins-1hr, 20-30% Battery life, phone should be charged at home or office anywhere..

auto-dimming, so many cars with low beam so high, makes not much differences with auto dimming..

blindspot assist, shouldn't this be a human action to check blind spot when moving the car around?

all the features in the car, even some top german marquee, how many features are being well used on a daily basis?? many drivers dont even use the signal stalk these days..

only feature i wanted was a pan/tilt panaroof, which not many new cars, I can afford, have it..

 

i do drive to malaysia on holiday 3-4 a year, was thinking during that 3-4 times, if there is a need, I could just rent a MPV for a week or 2 and drive up and enjoy the long drives..

 

the feel good factor of a new car and lesser maintenance for the 1st few years was a bonus, but my base car was pretty basic and had been holding up pretty well.

 

i used to change bikes n bicycles pretty much last time and the upgrade/change craze never stops once you are hooked to the feel good factor every 1-2 years..

i stopped changing some 2-3 years back and just ride the existing ones and save the $$$ for other enjoyment

end of day, do you NEED the features that's listed for the cars??

Yes. The features are a need. To you, they are not essential. To others, it's a must to change.

[Seya]

Change from a COE car to another COE car of the same model? Why would u do that?

After change,the car is 5 years newer.

[Aaronlkl]

In summary, those who bought during the high COE time, is worth to buy a new car ONLY if you do NOT trade in your existing car - sell it yourself. 

 

Your loss may be huge but the savings in the new car purchase make sup for it. The annual COE depreciation is too high a sunk cost to retain your existing car.

 

 

Are u even aware that there isn't much adjustment on the selling price of premium and performance cars even COE price today is much lower than b4? For those who monitors the movement of new car prices should know what i'm talking about...

 

COE premium falls, ADs laughing all the way to the bank!

Edited August 15, 2018 by Aaronlkl

[StingerGT]

All the more should keep it.

 

Same same.

Not your money you huan lo so much for what? Not that people here need your opinion. What a prick.

[ntuc2018]

Need to cal. But I think chances is stick to current car is better. Unless u butt itchy.

[Weezersg]

My car is also 3 yo and also contemplating changing.  The reasons are (some can be rather flimsy) 

1) low COE now

2) new car more features

3) get a more powerful engine

4) dump the cvt transmission

5) very common on the road now

6) nice new car smell

 

The against is mainly definitely take a big hit financially.

 

I think I am going to take the irrational route.

[Sktan10]

The additional 36k would mean an extra 2 years of COE usage.

 

My car is currently 2 years old as i got in on July 2016.

 

 

36k can renew coe for 10yrs of usage.

 

Save the 36k and bring your family for a nice holiday?

Or second honeymoon?

[Caravan]

Are u even aware that there isn't much adjustment on the selling price of premium and performance cars even COE price today is much lower than b4? For those who monitors the movement of new car prices should know what i'm talking about...

 

COE premium falls, ADs laughing all the way to the bank!

 

https://www.onemotoring.com.sg/content/dam/onemotoring/pdf/Car_Cost_Update.pdf

 

Gross margins can be seen here, and they do look very healthy.

 

>10 years ago, my car was bought only for a gross margin of $5k. Those were the days.

[Lava]

still don't see the point of changing from jap to kor, ts lower his expectation?

 

ts should keep his car and save up for future upgrading to a better brand.

[inlinesix]

Not your money you huan lo so much for what? Not that people here need your opinion. What a prick.

Since I m a prick, why bother to respond?

[Newbie26]

Think looking at a 36k loss for selling off a 2year plus honda city is not a correct representation

 

If one is to drive over 10 years, the annual depr for the city based on 2016 price is 8.8-9k/year

 

at this point, the normal depr should be about 18k assuming a straight ten year depr

 

So the actual relative loss is 36-18k = 18k, not 36k

 

Seeing it from the other angle,

 

The new hyundai elite now cost 83k, and one can bring and add the 18k loss now to the new buy price of 83k

 

=101k

 

2 year ago, when he bought his city, hyundai elite was selling at 103-105k

 

essentially it is a zero sum game

 

He gets to drive a new city for past few years and now buying and can drive a new hyundai at 2016 price

 

For the joy of having driven a new honda city for 2+ years and now going to drive a new Hyundai over the next few years at about 1k depr

 

more per year seems reasonable if affordability is not an issue    

 

 

 

This is an excellent post.

 

The poster wanted to take advantage of the lower price of cars now but only calculated

 

the depreciation of the car he wants to trade in and never calculated the savings he would

 

enjoy buying the new car. 36k is hard to swallow but this is offset by the 13k savings from

 

the new car so net cost is just 11.5k a year.

 

Is 11.5k too much to swallow?

 

The overall net benefit is not just a new car and a new warrant it is locking in the lower COE

 

cost for the next 10 years. 

 

I am just sorry that very few people will praise @Mann123 post because they never calculated

 

the 13k saving and just whack off don't itchy backide, don't kay kiang, 36k depreciation is too

 

much to stomach. Once a person give their "expert" advice its so hard to admit they were wrong.

 

The biggest problem in our society is we never admit we are wrong and never apologise and that

 

just means we never learn.

 

 

[awhtc]

There is no reason to hold on to the existing car since the COE has dropped by about $20k since 2-3 years ago, provided the new car will be driven for another 10 years to enjoy the lower depreciation.  Take the loss as a $20k donation to the government.

[DACH]

There is no reason to hold on to the existing car since the COE has dropped by about $20k since 2-3 years ago, provided the new car will be driven for another 10 years to enjoy the lower depreciation.  Take the loss as a $20k donation to the government.

 

I won't anyhow donate 20k to the govt. 

[copperband]

Thanks to all for their kind replies..

 

Many of them were sensible and it really led me to sit back and rethink a little about my hastiness.

 

After I had a talk with my wife, we both agree its better to hold on to this car awhile longer as it has served us flawlessly all this while.

 

I better not give in to my desires now since there are many new models slated to appear by 2019, e.g. Subaru forester, Elantra, City, Civic.. etc... 

 

I will wait and see what the new Motorshow in Jan 2019 will bring..

Edited August 15, 2018 by copperband

[StingerGT]

Since I m a prick, why bother to respond?

Just trying to confirm my suspicion that you’re not a happy person, thus the need for such a behavior online. You know it better yourself.