Thanks to COE, i earn $12k in 2mth

[Cleefho]

for every 10k increase in COE price, my odyssey 2.4a is worth ~$4k more in the resale market!

 

very easy to calculate (new odyssey OMV is currently 36k)

 

when COE 26k, a brand new odyssey cost yearly depreciation 10k -> a used 4yr old odyssey 2.4a ~60% of new price = 6k yearly depreciation

when COE 36k, a brand new odyssey cost yearly depreciation 11k -> a used 4yr old odyssey 2.4a ~60% of new price = 6.6k yearly depreciation

when COE 46k, a brand new odyssey cost yearly depreciation 12k -> a used 4yr old odyssey 2.4a ~60% of new price = 7.2k yearly depreciation

 

so u see every 10k increase in COE price = $600 more depreciation per year for used car -> a 4yr old car with 6yr COE left will cost extra $600*6 = $3,600

 

i bought my odyssey when COE was 16k => yearly depreciation 5.1k

now COE 46k, my gain = 6yr * (7.2 - 5.1) = $12k!!

 

i bought at 45k just 2mth+ ago, and now i can sell it for 57k

comparing a brand new odyssey selling close to $138k now, i think $57k is a very good price for a 4yr old car right?

 

(dont tell me about selling high and buying high... i am happy to hold the extra paper value for now, but if COE breach $80k, i will consider selling)

 

 

actually it is possible for you to make $$$ on your car, but hard to get the actual profit due to many factors......

 

must sell direct ( not easy, how many succeeded selling their own car?)

when u sell? the older your car becomes, the harder to sell no matter how high the COE

provided the COE prices maintain at the current level, it might drop for watever reasons

 

finally your nett profit is lesser due to opportunity cost for losing the use of your car and taking public transport which is a waste of time.

[Sony]

actually when a car crosses the 5 year mark, dealer using scrap the car instead of reselling, esp when mileage is high. thus for people that are trying to sell highm in the next few years with a car that is currently 3-4years old, I doubt it can really fetch the price... might be so for those that got the car since last year.

[Sky61]

there really isn't a point to compare the current price of a 2nd hand identical model/yr/mileage car with a similar model that u have....lets be realistic, dealers are not going to offer u the same price (or even remotely near) for your car. they want to earn profits, thats why they always buy at paper+body(depends on mileage,colour etc) and sell much above that.

 

only way to realise that profit is to sell on ur own and pit against those car dealers advertising on the same sgcarmart website... then u ask urself,how many buyers would want to go thru the hassle of getting their own loans,doing paperwork,ins, transfers etc? so if all advertised prices are identical,they would still go for the dealer. This is esp so for bread and butter cars. if lets say a performance/sports car comes into the picture,then buyers might want to deal with owners direct to know the history of the car etc...

[Gadgeter]

Wah this Thread made 3 MCFers Banned :

Fedup-Camry

Tom-Mouse

Nimm12kenasai

 

These are clone account.

[Ben5266]

My colleague just told me, he is trying to sell his car this weekend. Then, share car with his wife.

If this is true, then the high price of COE is working well to redistribute cars to those who need most and most willing to pay the price.

 

[Nf0rc3r]

you din earn 12k. u juz got back pass few months depreciation and spreaded it out in the next few years..

[Camry-Fedup]

These are clone account.

 

 

Nimm12 and I_earn_12k also clone account why not banned huh ?

[Lengendcf]

Nimm12 and I_earn_12k also clone account why not banned huh ?

 

Hi bro, I just came back from work.

 

Good to see you still surviving(not banned).

[Tigerwoods]

no really...its the undead realm, twilight zone, the in-between place.

 

Banned forumers who dunno they are dead yet, you know dat kindof stuff. Before the reality of mortality hits home. BANG!

 

Its kindof confusing. Some do get resurrected and come back as other people.

 

Others finally accept their passing and leave.

 

What number this Sat?

This post made me laugh until my wife tot I snapped.... GOOD ONE !

The number on SUNDAY pls...

[I_earn_12k]

Nimm12 and I_earn_12k also clone account why not banned huh ?

 

u wana get banned again also?

 

wats next? Fed Camry up?

[HigH]

ya but i am happy to see the increased paper value of 12k in just 2mth

 

 

Hey butoh. go where hide? sell yr car and earn 12k liao hah?

[HigH]

u wana get banned again also?

 

wats next? Fed Camry up?

 

another one???

[Nimm12]

u wana get banned again also?

 

wats next? Fed Camry up?

 

 

haha good one

 

ayway, check these out - used '05/'06 odyssey selling at yearly depreciation 7~8k now

when COE of new cars was <20k just 2mth+ ago, same model same year was asking only 5~6k!!!!

 

(read my 1st post)

 

HUAT AH!!!!

 

http://www.sgcarmart.com/used_cars/info.ph...314&DL=1000

http://www.sgcarmart.com/used_cars/info.ph...523&DL=1015

http://www.sgcarmart.com/used_cars/info.ph...798&DL=2050

http://www.sgcarmart.com/used_cars/info.ph...470&DL=2058

http://www.sgcarmart.com/used_cars/info.ph...250&DL=1019

http://www.sgcarmart.com/used_cars/info.ph...987&DL=1001

Edited April 10, 2010 by Nimm12

[HigH]

Hey kuku bird,

 

you haven't ans my ques leh.

[Nim]

COE UP UP UP

car owners HUAT HUAT HUAT

[Ody]

its a fact used car prices WENT UP 10k+ in the past 2months

its a fact these car owners WILL EARN this 10k+ by selling their cars now

and its a fact these car owners WILL EARN MORE THAN 10k+ if COE goes up any further from now

 

whats there to argue?

there's nothing wrong with the calculation, and its backed by direct owner sellers and used car dealers' asking prices listed in the past few days

 

used car prices are going to go UP and UP with the COE!!!

 

Edited April 10, 2010 by Ody

[Jun86]

So still waiting for 80k COE?

[Antwong007]

Hope people realise that this is the most risky time to buy a car whether new or used as dealers and owners are now asking for ridiculous price. As matter of fact, even dealers are worried when they are quoting cars now as they do not have a clear picture of the COE movement due to too much speculation.

I feel that LTA is too be held responsible for the sharp movement for COE which has caused so much uncertainty in the automotive industry. This is allowing the minorities to benefit for speculation of Open Cat and also people who own a newer second car. The rich definitely has become richer now. The middle income who is seeking to own a car will now have to bear with the price hike, like it or not, and could suffer later when COE goes down due to higher quota when the population of car is controlled.

My suggestion to LTA is that the reduction of COE should be gradual ie if 10,000 cars are dereg for the past quarter LTA should release 5-10% more COE on top of that figure instead of strictly recycling the no. of cars dereg. I dunno if 5-10% is a reasonable figure as opposed to the car population target , it could be 1%-5% but I will leave it to the LTA to decide whats best. I am just saying that implementation of New Policy should not be impulsive and rigid.

I really thought that LTA should have consulted the industry experts and publics for opinion before implementing such drastic policy.

Really, it came all sudden even for a dealer myself could not have forseen and accept such changes. I definitely have benefitted from the situation but I still think this is not the best way to control the car population as we are not fair to the lower and middle people who is seeking to own a car liked the wealthier.

Hope someone agrees with my point here.