Cut Cost with COE Car, advisable

[Verve]

Was thinking of reducing costs with a COE Car, current car Vios fully paid up but will depreciate more.

I saw that the corona is going around $12K with a new 10 year coe?

Any bros driving coe cars out there to tell me if maintenance, cost wise after all the upfront savings is going to be a big issue with this car?

Basically just need a pt A to pt B transport. 12K seems like a really good deal - basically the car depreciate only $100 a month. Of course you gotta factor in the maintenance (which i am thinking of doing in JB)

[So_nice]

i think should be ok. corona, corolla and starlet dun haf much of a big problem. how much would u get back wif ur vios now huh?

[Try_conti]

don't understand. your current car is already fully paid up. How can paying another 12k to get a coe car more economical than your current ride (assuming its not a coe car) ?

[Verve]

my bro wants a car, so probably pass it to him instead of him buying another car.

paper + body now should be about 30k. 30 k depre in 3 years plus

[So_nice]

i think he is refering to selling his vios for $$ and buy a cheap coe rite for transport. let's say ur vios can fetch 30k, buy the coe car at 12k; he will still haf 18k balance.

 

spend less then 2k he should be able to fix up all the necessary problems for the coe car like corona. in short he will still haf abt 15k savings. which would be more then his paper value at the end of 10 yrs cycle.

[Picanto]

i think he is refering to selling his vios for $$ and buy a cheap coe rite for transport. let's say ur vios can fetch 30k, buy the coe car at 12k; he will still haf 18k balance.

 

spend less then 2k he should be able to fix up all the necessary problems for the coe car like corona. in short he will still haf abt 15k savings. which would be more then his paper value at the end of 10 yrs cycle.

 

that's assuming the coe car he bought is not a lemon. but how many coe cars are really problem free?

 

[Pufferfish1]

ya,,,lets say repair plus parts cost 5k, minus no resale value and zero rebate, end up you might only have 3 to 5 k cash . not worth it, plus no air bags and safety features

[Cymagnus]

Do take into account of the road tax & yearly inspection for COE cars.

Corona 1.6l right? Annual road tax will be 110% x $744 for the 11th year and there will be 10% incremental till the fifth year. Fith year onwards will stay at 150%.

[Iygnaug]

let's also remember the feeling of sitting in a >10 yrs old tin car versus a <5 yrs old technology-enhanced vehicle. Some parts just break apart.....

 

Please consider the tangible costs road tax, insurance, fuel consumption, etc, not forgetting the image that people passes on you when you drive a COE car(if that's a concern for you). The amount of germs in a coe car is definitely more than the vios you are driving. My recommendation, keep the vios.

 

I still remember the days on the look of my 'friends' when i offer to send them home in my proton iswara (93). unforgettable......

 

[Watwheels]

How about insurance? I heard insurance coys are not very keen on insuring coe cars, even if they do it will cost more premium dan your Vios. FC for the corona will not be as good as your Vios too, in terms of weight and not so new parts.

 

I hope you are ready to compromise what the coe car is lacking, just so you feel that you can save money.

[Picanto]

my bro wants a car, so probably pass it to him instead of him buying another car.

paper + body now should be about 30k. 30 k depre in 3 years plus

 

i think can forget the idea of the coe car. it's not as simple as 1+1=2.

 

[Friendstar]

Was thinking of reducing costs with a COE Car, current car Vios fully paid up but will depreciate more.

I saw that the corona is going around $12K with a new 10 year coe?

Any bros driving coe cars out there to tell me if maintenance, cost wise after all the upfront savings is going to be a big issue with this car?

Basically just need a pt A to pt B transport. 12K seems like a really good deal - basically the car depreciate only $100 a month. Of course you gotta factor in the maintenance (which i am thinking of doing in JB)

 

 

if ur current car is a fc heavy hyundai matrix etc....can still consider.

 

but urs is a good, reliable, fc SUPER friendly, low road tax toyota vios.

 

to change to a COE corona is a major downgrade (i know u won't mind "downgrade").

 

but think about the intangible, like

1) more prone to breakdown

2) nitty gritty like occasional air con failure

3) uneven braking strength etc.

 

will give u MUCH much more headache.

 

even if u do a major overhaul, trust me, stuff will still breakdown here and there.

 

my friend's COE corona, every morning must top up water ( i donno why ) by opening the bonnet and checking to see the fan is spinning correctly.

its very irritating.

[Contax]

I have driven 2 coe car before in the 90's and both are toyota's .

 

Pro

- higher maintenance cost .It's not like just do your regular servicing will do , in no time to come the workshop that you go will give you priority attention then the rest as you visit them weekly/monthly to empty your wallet.

 

-The LTA will want to invite you to their inspection centre yearly and by doing so , hoping the car will fail the test and thus collect more moola from you .

On top of that , road tax you pay is much much much higher than the rest of your peer because your presence on the road is not welcome at all and they think your are a nuclear hazard to them because your car is full of radioactive material after more than 10years of constantly expose to the elements.

 

 

Con

-new car owner will not want to park beside you because you simply bochap how you're going to open the door ........Open the door a little and the rest are just footwork - kick it as hard as possible .

 

-you suddenly find that your oil needle is dropping as fast as your rev needle which is good news for the oil cartels.

[Kusje]

What nonsense is this? Do you even know what pros and cons mean?

[Contax]

What nonsense is this? Do you even know what pros and cons mean?

 

 

ha ha .

[Porche]

i was thinking of getting a used car for my next ride, had owned 2 new car already so should be enuff. but you would need to compare the price for used car 3yr old, versus COE car, versus new car. not forgetting the interest rate unless you can pay one shot. lots of 01 model corolla renewing COE, you can consider this hipporolla

[Prostcode]

How about insurance? I heard insurance coys are not very keen on insuring coe cars, even if they do it will cost more premium dan your Vios. FC for the corona will not be as good as your Vios too, in terms of weight and not so new parts.

 

I hope you are ready to compromise what the coe car is lacking, just so you feel that you can save money.

The insurance part is not true. I'm only paying 680 for insurance for my Toyota Corona! Steady pom pee pee. COE cars confirm lesser insurance than new cars..

[Loki]

The insurance part is not true. I'm only paying 680 for insurance for my Toyota Corona! Steady pom pee pee. COE cars confirm lesser insurance than new cars..

 

That's because COE cars can only insure 3rd party fire and theft right? Not comprehensive.

 

Anyway, to TS: when I was younger, what I did was instead of buying COE cars, I looked for 7 or 8 year old cars. Depreciation is also pretty low over the 2-3 year timeframe.