do most of you change car at 5 year mark?

[Toapayohkid]

to take adv of max possible parf rebate?

[Blueray]

yes, so far I change at around 4.5 years.

[Kingcopa]

to take adv of max possible parf rebate?

Since you started this thread, maybe you can advise me on whether to change car or not? Mine ride is ard 3yr plus coming to 4 in Jan 2010. What should i look out for? parf? loan?

[Silver_blade]

Not anymore...ever since LTA changed rebate system years ago. There is no significant incentive to do so with the new system.

 

I just get a new car only when I am convinced I need it, pass the older car to my mum and sell/scrape the even older car.

[Quantum]

to take adv of max possible parf rebate?

I changed one at 2.5 years, anohter 3.5 years

[Hiphiphoray]

Im trying to drive my current Sonata to at least its 7th year if possible.

 

Simply love this car. Comfy, penty of power and bot cheap @ 2nd hand.

 

Just respray her and she looks brand new now.

[Blueray]

Not anymore...ever since LTA changed rebate system years ago. There is no significant incentive to do so with the new system.

 

I just get a new car only when I am convinced I need it, pass the older car to my mum and sell/scrape the even older car.

 

I see, so no significant diff whether tai chia at Year 5 or Year 7 now ?

 

[Silver_blade]

I see, so no significant diff whether tai chia at Year 5 or Year 7 now ?

Yup...the diff is only about 10% depreciation yearly after the 5th yr.

 

Under the old system....you will get back 130% of the OMV if you scrap the car before the 5th year. But under the new system, you will only get back 75% of the ARF (which is between 100% and 130% of the OMV).

Edited August 12, 2009 by Silver_blade

[Drive_carcar]

For me it's only a matter of time. There are two major considerations, first it must be an upgrade that I can comfortably afford it at that point of time. Second, the new car meets my requirement.

 

The basic requirement includes - even more spacious than my current Civic, flat rear floor (a must), more luxurious and comfy, more powerful. If it's available in manual all the more better.

 

Currently there's only one model in my sight that meets most of my requirement - Accord Euro S, which is hard to come by. Also I have no clue how much it will cost...

[Kotila]

Under the new system, it will be good to change at 9.5 years. That is why

should buy car that will last for at least 9 years.

 

 

[Windcloud03]

I think you can consider changing when your car reaching or close to 3 years mark. Car will still have warranty (usual 3) and road tax, insurance (renewing status). It also depends on whether your car has any bumps and your mileage. If you really change for the sake of changing, then you need to relook your loans etc. For me, after I sold my 3 year Picanto and settle the car loan, I still got back some cash on hand which is a surprise. Try to maintain your car by going for scheduled servicing and regular car wash. It will definitely go a long way in keeping your car in tip-top condition!

[Ryanyusoff]

but how will it be for those car owners who took 10 yr loans?just keep till scrap?i know some who took full 10 yr loan

[Silver_blade]

but how will it be for those car owners who took 10 yr loans?just keep till scrap?i know some who took full 10 yr loan

Nothing wrong mah....especially if the car is still generally ok.

[Vextan]

to me, a car is mainly for transport\convenience. so as long as my car is running fine, i.e. safe, comfortable and problem free, i am not inclined to change. being cost conscience, i am aware that the longer one drives a car, the lower the depreciation.

[Picanto]

I think you can consider changing when your car reaching or close to 3 years mark. Car will still have warranty (usual 3) and road tax, insurance (renewing status). It also depends on whether your car has any bumps and your mileage. If you really change for the sake of changing, then you need to relook your loans etc. For me, after I sold my 3 year Picanto and settle the car loan, I still got back some cash on hand which is a surprise. Try to maintain your car by going for scheduled servicing and regular car wash. It will definitely go a long way in keeping your car in tip-top condition!

 

picanto body value very poor. how did you manage to get cash back when you sold it?

 

[BoneStock]

Not anymore...ever since LTA changed rebate system years ago. There is no significant incentive to do so with the new system.

 

I just get a new car only when I am convinced I need it, pass the older car to my mum and sell/scrape the even older car.

 

 

agree I kept my previous ride for less than 4 years but I am prepared to keep my current one for 10 years. Provided no major problems and no COE crashes along the way.

[Babyt]

so far, avg 3 years....can start shopping new car once loan is paid fully.

[Windcloud03]

picanto body value very poor. how did you manage to get cash back when you sold it?

 

Yes, agreed and it's around $3k plus. I mean when I sold it to the dealer offsetting the outstanding car loan, I got some cash back. Initially I thought I have to top up to make the difference.