Qns on COE Cars (Insurance, Car value etc.)? Ex-COE Car Owners welcome.

[Kcmok717]

Im helping a fren of mine to find out certain info:

 

1) Which are the Hot favourites COE Cars (Civic ESI, Colt etc.)?

2) Is Insurance Expensive for 1st time owner w/o NCD 25 to 30 yrs old male?

3) What are the things to look out for when Viewing or Test Driving the Car?

4) Is there any scrap value for COE when the Car is fully utilise until COE Expired on 20th yr?

5) If there isn't any scrap value, must owner fork out $$$ to get it scrap if he decided not to renew the COE after the no. 20th yr?

[So_nice]

be prepare to fork out $$ for wear and tear parts for the EGs. standby at least 2k for the replacements.

 

insurance wise depends on wat car. NTUC qouted me S$1.1k for toyota starlet last year.

 

see got oil leak, unusual sound, kangtong got ki chia or not, unusual welding/spary paint marks, cranking while on cold start, car door can close firmly bo, see got white smoke bo..etc..

 

scrap value after COE? nothing lor..

 

ur last question i no idea. but then again there are many parts which can be tore out of the car. hence i dun think need to fork out money.

[So_nice]

the EG civics, corollas, starlets, swift/swift gti, charade gtti..

 

these are some of the coe rides tat comes to my mind.

[Kyojin]

1) Value go for Starlet, performance go for Civic, family go for Corolla (remember that road tax for cars older than 15 years has a 50% premium)

2) Insurance will vary with type of car and age and job profile and a driving experience.

3) Leaks in engine bay, rusts on joints and underbody, serious accidents (can see from metal chassis), number of previous owners, clutch slip, brakes, sqeaks, squels. send to your mechanic to check it out. if owner doesn't allow, stay away - most probably has something wrong.

4) there is no scrap value. your scrap value is determined by the balance value of COE. This is the amount insurance will pay you in the event of major accident (total loss). So if you pay a lot of money above COE value, then you are taking a larger risk (especially if you take a loan)

5) usually they give you a few hundred dollars for scrap metal.

[Ahgong]

i was surfing for answers related to COE cars when i read this thread.

 

So far, all the queries are about getting insurance and buying a COE car.

 

How about, if you already own a COE car, and you plan to renew the COE for say another 5 years. How do you do that?

what is the cash upfront or outlay like for that scenario?

 

is there a diff (other than the price of the COE itself) if the renewal is for 10 years instead?

 

any guru to help answer?

[Galantspeedz]

i was surfing for answers related to COE cars when i read this thread.

 

So far, all the queries are about getting insurance and buying a COE car.

 

How about, if you already own a COE car, and you plan to renew the COE for say another 5 years. How do you do that?

what is the cash upfront or outlay like for that scenario?

 

is there a diff (other than the price of the COE itself) if the renewal is for 10 years instead?

 

any guru to help answer?

 

5 yrs, you pay half PQP.

 

the problem with 5 yr renewal is, it will be the last renewal allowed

 

for 10yrs renewal, you can keep on renewing...

 

not sure is there any recent changes in this with accordance to the changes in loan quantum

[Kangadrool]

i was surfing for answers related to COE cars when i read this thread.

 

So far, all the queries are about getting insurance and buying a COE car.

 

How about, if you already own a COE car, and you plan to renew the COE for say another 5 years. How do you do that?

what is the cash upfront or outlay like for that scenario?

 

is there a diff (other than the price of the COE itself) if the renewal is for 10 years instead?

 

any guru to help answer?

 

Onemotoring has tons of info on this. Just need to read through thoroughly to understand. Takes a bit of effort though. Whatever questions you may have, it's almost all there liao.

[Passat57]

Im helping a fren of mine to find out certain info:

 

1) Which are the Hot favourites COE Cars (Civic ESI, Colt etc.)?

 

I think the Merc E class (E200) will be more reliable to worth paying for COE.

[Ahgong]

that is the problem. I am having trouble understanding.

on one hand, you need to have $10k to place a bit?

and something along the line of you have to pay the difference if the bid is higher than $10,001.

 

 

so am i right to say we need at least 10k upfront to even try renewing the COE for 10 years?

where do i go to start shopping for a loan for this purpose? as in, just to renew a COE?

 

[Galantspeedz]

that is the problem. I am having trouble understanding.

on one hand, you need to have $10k to place a bit?

and something along the line of you have to pay the difference if the bid is higher than $10,001.

 

 

so am i right to say we need at least 10k upfront to even try renewing the COE for 10 years?

where do i go to start shopping for a loan for this purpose? as in, just to renew a COE?

 

that is for bidding the COE... don't get mixed up

 

renew COE do not have to bid for another COE, what you be doing is pay the average of 3 months COE... known as Prevailing Quota Premium (PQP)

 

the link states what you want to know very clearly

 

Onemotoring renew COE