do most of you change car at 5 year mark?

[Orac]

Fully agree.

 

I too spend $1+k to change all those major wear and tear parts (engine mounts, absorbers, brushing etc) and my coming to 5yrs car feels almost brand new.

 

Cheaper to change parts than get a new car if engine and tranny no problem.

[Yipsy1]

mine is approaching 4th year soon. milage 130K++.

to me, it looks as new for interior.

external a little dirty and water spots..

functionally good with power.

 

but thinking thinking and thinking of changing...

 

confused myself...

 

Suggest you put the money in stock market or even in FD. At least still got chance to grow the money. Once you put it in a car, can kiss it goodbye.

Buy car in Singapore is a no gain situation. The depreciation of a brand new car is staggering.

 

Press on .. drive until the 10 years is up. My car is also 4 yrs liao. Swear to drive till scrap.

[Mzrmazda3]

On a purely $$$ sense...i find it cheaper to replace parts and repair, then to buy a new car. Unless it is major damage to the engine, gear, etc....

 

But a lot of us change cos we are bored of the old one.

 

You are right Bro, same thinking here ...

Edited August 13, 2009 by Mzrmazda3

[Ladykillerz]

So may I know how many year of loan u typically loan and how much $ penalty you have fork out for the change of car before the loan completed?

 

when your itch really come, it won't be a concern about the losses.

but it will be wise to down at least 50% of the car price with minimum loan period else you will be hit by big loss.

changing ride in a short time will definitely incur higher losses.

but it also depends on "loss vs. itch" theory, see which one is heavier in your mind.

i do see quite a number of drivers change their cars within 5 years..

 

anyway, my 1st and 2nd cars are 2nd hands cars.

my 1st one was a COE car and drove for about 1.5 years. Scrap due to going oversea.

my 2nd one was exactly 3 years old and after 4.5 years (drove for 1.5 years), the FC starting to increase and feel that the power is lacking significantly. End up -> change.

 

my 3rd, 4th and 5th(current) cars, all are 1st hand cars.

-> 3rd car drove for 1 year.

-> 4th car drove for 3.5 years.

-> 5th(current) car is still considering under run-in mode..

 

i can only say,

1) i prefer 1st hand use,

2) the "new" feel,

3) and stay away from after 5th year "down performance + interior aging look" effect..

anyway, that's solely my view point and it does not apply to everyone...

[Axela72]

So do u lost/absorb 10k when changing new car? just want to know how much $$$ penalty typically a person is willing to fork out when changing a car.

[Ladykillerz]

So do u lost/absorb 10k when changing new car? just want to know how much $$$ penalty typically a person is willing to fork out when changing a car.

 

hi Axela72,

 

some examples,

-> 2nd car loss 18k (drove 1.5 years with very high paper value)

-> 4th car loss 28.5k (drove 3.5 years with low paper value)

above losses excluding monthly downpayment loss and bank interest loss..

 

hope it helps..

[Axela72]

err, what I mean is example, if I sell my car now, I need to pay back the loan to the bank of 40k which I still owe them till date. As I can only manage to sell the car at 30k, that mean I have to fork out/top up the rest of the 10k from my pocket money.

 

kindly confirm/ advice yrs.

[RadX]

err, what I mean is example, if I sell my car now, I need to pay back the loan to the bank of 40k which I still owe them till date. As I can only manage to sell the car at 30k, that mean I have to fork out/top up the rest of the 10k from my pocket money.

 

kindly confirm/ advice yrs.

 

yup

[Hiphiphoray]

err, what I mean is example, if I sell my car now, I need to pay back the loan to the bank of 40k which I still owe them till date. As I can only manage to sell the car at 30k, that mean I have to fork out/top up the rest of the 10k from my pocket money.

 

kindly confirm/ advice yrs.

 

Yes....have to top up 10k in cash. Can do overtrade also.....but the interest rate will be something like 4%. Not worth it rah.

 

Last time i trade-in my 2.5 yr old OPC cs3 Lancer, have to top up 8k cash. But still acceptable to me, cos i took 90% loan(installment mthly cheap cheap $530 nia).....haha.

 

Just do your maths lor.

 

Btw....what car u looking at ? I think u were very interested in the Superb right ?

Edited August 14, 2009 by Hiphiphoray

[Ahyoo2002]

err, what I mean is example, if I sell my car now, I need to pay back the loan to the bank of 40k which I still owe them till date. As I can only manage to sell the car at 30k, that mean I have to fork out/top up the rest of the 10k from my pocket money.

 

kindly confirm/ advice yrs.

 

In good old days, the $10k diff can be added to your new loan.

 

But that means you are paying more interest to bank. I know of people doing that as they always like to say"No need to fork out any cash and yet can drive a new car, why not?"

 

[Ahyoo2002]

Yes....have to top up 10k in cash. Can do overtrade also.....but the interest rate will be something like 4%. Not worth it rah.

 

Last time i trade-in my 2.5 yr old OPC cs3 Lancer, have to top up 8k cash. But still acceptable to me, cos i took 90% loan(installment mthly cheap cheap $530 nia).....haha.

 

Just do your maths lor.

 

Btw....what car u looking at ? I think u were very interested in the Superb right ?

 

The case i know of, can do overtrade but still normal interest rate.

 

[Rayoh]

to take adv of max possible parf rebate?

 

When you are sicked of your car.... And you've got the Moolahss$$$....

Just change your ride... Why wait 5 yrs??

Edited August 14, 2009 by Rayoh

[Axela72]

Ya, at this moment, I still can't see any car that is able to beat it's all in one spec (performance, FC, spacious and lower road tax) except the look only.

 

Was hoping to see whether the new Monedo (with the EcoBoost and a muscular look car) is able to its contenter.

 

My thinking thought is, if the COE price is very low, e.g. 5k vs existing ~20k, even thought if there is a 10k penalty due to early loan redemption, won't it be not much different for getting a 5k COE time car with 10k penalty vs a 20k COE time without 10k penalty?

 

In another word, am I correct to say that when COE is good (low), we should not be tight down by the current loan penalty (due to early redemption) as overall amount we are paying is still the same when comparing buying a car with high COE time frame (without previous loan penalty)? However, if we compare same COE price, definitely without previous loan penalty, we can get the best from both world.

 

 

 

[Driver123]

differences is minimal. If car is running well, why change?

 

unless COE crashes to below 5k and car got alot of problem then maybe can consider.

 

 

When COE down the resale price of old car also down, and that made no different. I only agree that if the car give lots of problem then should consider changing.

 

 

[Axela72]

When COE down the resale price of old car also down, and that made no different. I only agree that if the car give lots of problem then should consider changing.

 

If I am not wrong, the resale price doesn't make a different once the car is more than 5 yrs (some even 3 yrs) mark, not even if it is a T or H badge. The dealer will only offer a few k (~ 2 to 4k) more than the paper value. So why some ppls so concerns about resale value? The only concerns ppls should have is "how easy can I sell away my car." That is where the badge come in to play the role.

[Ladykillerz]

Axela,

 

many forumers already answered your query.

yes and unfortunately a good $10k got to come from your pocket to change your ride...

 

as for your mentioned Mondeo 2,261cc:

performance: should be ok (with 161bhp and 208Nm with 1,555kg kerb weight)

FC: doubful (but stated 10.7km/l)

spacious: maybe ok

low roadtax: doubtful (since it is a 2.3L engine)

 

if you want all in one, should be Audi 1.8TFSI but at a pricey solution..

See link: http://www.sgcarmart.com/new_cars/newcars_...p?CarCode=10552

 

performance: should be better (with 160bhp and 250Nm with 1,450kg kerb weight)

FC: ok (stated 13.5km/l)

spacious: maybe ok

low roadtax: should be ok (since it is a 1.8L engine)

 

Hope it helps~

Edited August 14, 2009 by Ladykillerz

[Ithunk]

actually its quite a wierd question

[Skxly]

Cars are one of the most expensive toys in Singapore. I have owned quite a few rides in the past and came to realize how foolish to let my cash flow down the drain. Read my blog post about Costly Frequent Car Refresh.

 

So now I do not treat the ride as a toy anymore - it is a liability in accounting term to me but still an important transportation tool so I am going to maintain it well for its 10 years' life. Got it with low COE so there is no point selling out early.