Worth it to sell 5 year old car (with high COE) and buy new

[Roh96]

I suppose the difference between BM and KM is not significant though BM might offer higher ? I could be wrong because I have not touch new car for more than a decade. Those could offer high trade in are Mercedes and BMW because of their higher margin, but even one will to drive a fairly new Merce or BM in for trade in, my guess is the person will be bleeding badly. But if one will to trade in a near scrap B&B car, I am sure merce and BM would offer better trade in price than most of the Japanese ADs, excluding Lexus.

I believe so. If the car is below 4 yrs old, be prepared to bleed badly if u decide to trade in. For typical Jap cars, easily 50-60k loss over 4 yr.

[BobbyTan_74287]

I believe so. If the car is below 4 yrs old, be prepared to bleed badly if u decide to trade in. For typical Jap cars, easily 50-60k loss over 4 yr.

I trade in my car after 3.5 years and I lost 50%. But I did that as my old car COE too high. So buy a new car with low COE.

[Spring]

I thought the worst trade in prices come from C&C Kia n Mitsubishi cos their Used car arm Republic Auto always low ball.

[Spring]

I trade in my car after 3.5 years and I lost 50%. But I did that as my old car COE too high. So buy a new car with low COE.

What car did u trade in? n what new car u bought?

[Nlatio]

KM and MI are the worst when it comes to lowballing for trade in

 

 

Agree on the MI..... even the SE told me I will be shock... and I was....   

[darkgod123]

Whats your trade in value now? 

i see on this webby people are bidding bout 52-55k range for it. But mine is SX so idk if its same as what it shown on the bidding page. 

 

4 year old car, 110k >50k, 

 

If i get a new car at 100k, i would be paying 50k for 4 extra years of driving. Seems similar to 12k depre XD 

[Wolverine23]

i see on this webby people are bidding bout 52-55k range for it. But mine is SX so idk if its same as what it shown on the bidding page.

 

4 year old car, 110k >50k,

 

If i get a new car at 100k, i would be paying 50k for 4 extra years of driving. Seems similar to 12k depre XD

Interesting way to calculate.

 

My5 year old can trade in 70kplus, and new civic cost 93k.

 

So this means I am paying 20k for 5 more years of driving. I.e. depreciation of 4k per year?

 

Sounds good!

[Mann123]

KM and MI are the worst when it comes to lowballing for trade in

 

 

They low-ball trade-in price because we let them do so because we fear about the gap between new car delivery and old car handover timing. In today time we can always manage this gap by getting guaranteed package or using PHV/Taxi in between.

 

Last time i sold my VW Golf by Quotz because of shit trade-in offered by ADs. i give a go to Quotz and to my surprise i got value more than my expectation. 

 

Few days i used PHV/Taxi/MRT as required before getting delivery of new car. We rich or middle income, its always good to get better value of our beloved pre-owned car as ADs are already milking us enough because of coe system favor them.

[Mann123]

Interesting way to calculate.

 

My5 year old can trade in 70kplus, and new civic cost 93k.

 

So this means I am paying 20k for 5 more years of driving. I.e. depreciation of 4k per year?

 

Sounds good!

 

But you are comparing Apple to Orange ...

 

In that case if you buy Attrage ($< 60K) you can pocket $10K+, 5 more years drive for free and enjoy Holidays in Europe with cash $10k+ ...

 

Interesting ;)

[Wolverine23]

But you are comparing Apple to Orange ...

 

In that case if you buy Attrage ($< 60K) you can pocket $10K+, 5 more years drive for free and enjoy Holidays in Europe with cash $10k+ ...

 

Interesting ;)

Haha. Good one!

 

I guess it all boils down to if you like the new car and price is good

[BobbyTan_74287]

What car did u trade in? n what new car u bought?

I traded in Nissan Sylphy and bought GLA180.

[Vinceng]

Interesting way to calculate.

 

My5 year old can trade in 70kplus, and new civic cost 93k.

 

So this means I am paying 20k for 5 more years of driving. I.e. depreciation of 4k per year?

 

Sounds good!

But you need to factor in how much you paid for your car back then, in 2014 when it was new.

 

You probably lost a lot in 5 years.

[Wolverine23]

But you need to factor in how much you paid for your car back then, in 2014 when it was new.

 

You probably lost a lot in 5 years.

I would say addition 10k on top of depreciation which I find it's reasonable.

[Old-driver]

I traded in Nissan Sylphy and bought GLA180.

You should be getting a very good trade-in price 

[Kodiaqer]

But you need to factor in how much you paid for your car back then, in 2014 when it was new.

 

You probably lost a lot in 5 years.

 

in my view, if car bot with high coe and gonna trade in for new car with low coe

 

its about how much lesser to lose cos car ownership confirm lose money one..

 

higher amt car loan installment vs lower amt is one of the key calculation consideration...

[Vinceng]

higher amt car loan installment vs lower amt is one of the key calculation consideration...

 

The problem with lower monthly installment is many jump in with the buy when they see their monthly installment get lower.

 

But they forget that had they continue with their existing car, they would be loan free when their installment is fully paid up, instead of having to continue with a fresh installment and start  from scratch again. 

[Kodiaqer]

The problem with lower monthly installment is many jump in with the buy when they see their monthly installment get lower.

 

But they forget that had they continue with their existing car, they would be loan free when their installment is fully paid up, instead of having to continue with a fresh installment and start  from scratch again. 

 

correct but u get new fresh 10 years drive ownership

 

its actually very simple numbers driven, an excel spreedsheet with formulas and one u input the parameters like trade in value, redemption costs, new car installments etc the outcome cashflow analysis will tell u if u lose more or lose lesser...

[Daniu82]

I agree is only lose more or less, but I don't want to calculate this. I prefer to calculate how much I can top up to change car after trading in and source the correctly priced car to buy. Buy already then don't think so much. At least I know I can handle the cost of the new car and I can get a new car to drive.

 

correct but u get new fresh 10 years drive ownership

 

its actually very simple numbers driven, an excel spreedsheet with formulas and one u input the parameters like trade in value, redemption costs, new car installments etc the outcome cashflow analysis will tell u if u lose more or lose lesser...