yo2020 6th Gear March 6, 2015 Share March 6, 2015 On 3/4/2015 at 8:39 AM, Erykool said: Some questions I have if anyone can advise. I had read at LTA website but info not very comprehensive.. Scenario is if I renew COE for 5 years after end of 10 years COE. jz 1 more thing to note. there is 1 difference betw renewing of 5 yrs n 10 yrs. LTA allows renewal of 5 yrs with 1 condition: cannot renew any more at the end of the 5 yrs. ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Kangadrool Supersonic March 6, 2015 Share March 6, 2015 (edited) strange rule, but I can understand also. 5-year renewal option is to help the poor, i.e. those who could not "afford" upfront payment for 10-year. They could have made things easier by giving us no option for 5 or 10 years, just only 10 years. Put this in just in case some start to bash gahment again. On 3/6/2015 at 2:06 AM, yo2020 said: jz 1 more thing to note. there is 1 difference betw renewing of 5 yrs n 10 yrs. LTA allows renewal of 5 yrs with 1 condition: cannot renew any more at the end of the 5 yrs. Edited March 6, 2015 by Kangadrool Link to post Share on other sites More sharing options...
yo2020 6th Gear March 6, 2015 Share March 6, 2015 Quote 10-Year COE Period Is to Ensure System Is Fair Media Replies 19 Jan 2009 I refer to Mr Foong Swee Kong's letter, 'Renewable 5-year COEs can help S'poreans cut costs' (My Paper, 8 January 2009). Mr Foong suggested that the five-year COE be made renewable to reduce living costs. The standard 10-year Certificate of Entitlement (COE) period for the use of a vehicle is to ensure a fair system for both buyers of new vehicles and existing owners who renew their COE. The 5-year COE is a special concession introduced for existing vehicle owners who, at the point of COE renewal, feel that their vehicles might not last beyond the next five years. The vehicle is therefore required to be de-registered upon expiry of the five-year COE. The non-renewal condition is made known to all vehicle owners, and thus it is up to individual owners to decide. On Mr Foong's suggestion that the rise in motorcycle COE prices in recent years is due Malaysians purchasing Singapore-registered motorcycles, our statistics show that the proportion of Singapore-registered motorcycles owned by Malaysians have remained constant over the past few years. Non-Singaporeans can purchase and register vehicles in Singapore as long as they comply with the registration requirements and pay the requisite taxes for their vehicles. We thank Mr Foong for the opportunity to clarify. GEOFFREY LIM DEPUTY DIRECTOR, MEDIA RELATIONS LAND TRANSPORT AUTHORITY Source http://www.lta.gov.sg/apps/news/page.aspx?c=3&id=96 yes, the 5 yrs renewal is a "special concession". Link to post Share on other sites More sharing options...
Jp66 5th Gear March 22, 2015 Share March 22, 2015 well, it is relative. car price above $200K is more expensive. On 3/22/2015 at 3:43 AM, YEN96 said: PQP $71K .....expensive !!! Link to post Share on other sites More sharing options...
Boschsimon 1st Gear April 5, 2015 Share April 5, 2015 On 7/15/2014 at 7:44 AM, Dafansu said: I think you still can take loan for renewal of COE. Someone posted here before, I haven't check it out, mine also going to expiry in 5 months Yes, I think May Banlk can provide loan for this. http://info.maybank2u.com.sg/personal/loans/car-loan/car-loan.aspx Link to post Share on other sites More sharing options...
Mkl22 Supersonic May 6, 2015 Share May 6, 2015 (edited) just did a quick and rough calculation for my parents 2006 wish, to renew coe or buy new. in the end the difference is approx 15k. Probably this will be their last car. so after another 10years they will stop driving. renew wish (approx 160k km) 72k COE 10K forgo PARF 3k Paint, tires, compressor, shocks(needs to be done) 4k difference in rdtax over 10years 89k Brand new Wish 126k (someone bought this recently) -10k (parf of old wish) -10k (parf of new wish) 106k Difference is 17k. and to factor in another 2-3k extra maintenance of the old wish vs the new. you get approx 15k. for extra 15k you get a new car. i think likely they will get new given that this is probably their last car. Edited May 6, 2015 by Mkl22 Link to post Share on other sites More sharing options...
MQX87511 5th Gear May 6, 2015 Share May 6, 2015 On 5/6/2015 at 4:01 AM, Mkl22 said: just did a quick and rough calculation for my parents 2006 wish, to renew coe or buy new. in the end the difference is approx 15k. Probably this will be their last car. so after another 10years they will stop driving. renew wish (approx 160k km) 72k COE 10K forgo PARF 3k Paint, tires, compressor, shocks(needs to be done) 4k difference in rdtax over 10years 89k Brand new Wish 126k (someone bought this recently) -10k (parf of old wish) -10k (parf of new wish) 106k Difference is 17k. and to factor in another 2-3k extra maintenance of the old wish vs the new. you get approx 15k. for extra 15k you get a new car. i think likely they will get new given that this is probably their last car. you haven't calculated new car got 5 years warranty and free service, cheaper insurance, and road tax, good FC and safety features etc, Link to post Share on other sites More sharing options...
Mkl22 Supersonic May 6, 2015 Share May 6, 2015 On 5/6/2015 at 4:07 AM, MQX87511 said: you haven't calculated new car got 5 years warranty and free service, cheaper insurance, and road tax, good FC and safety features etc, road tax accounted for. insurance will be higher for sure, since the renewed wish will be 3rd party only. it is assumed that new car encompasses warranty, maybe free service. slightly better FC... etc. but these not as easy to quantify. thus part of the 15k diff accounts for this. it is up to the individual to assess lor. but the rest are more or less known and costs that have to be sunk. Link to post Share on other sites More sharing options...
IloveVezel 2nd Gear May 6, 2015 Share May 6, 2015 On 5/6/2015 at 4:07 AM, MQX87511 said: you haven't calculated new car got 5 years warranty and free service, cheaper insurance, and road tax, good FC and safety features etc, Why new car has cheaper insurance!? Link to post Share on other sites More sharing options...
BobbyTan_74287 4th Gear May 6, 2015 Share May 6, 2015 On 5/6/2015 at 4:01 AM, Mkl22 said: just did a quick and rough calculation for my parents 2006 wish, to renew coe or buy new. in the end the difference is approx 15k. Probably this will be their last car. so after another 10years they will stop driving. renew wish (approx 160k km) 72k COE 10K forgo PARF 3k Paint, tires, compressor, shocks(needs to be done) 4k difference in rdtax over 10years 89k Brand new Wish 126k (someone bought this recently) -10k (parf of old wish) -10k (parf of new wish) 106k Difference is 17k. and to factor in another 2-3k extra maintenance of the old wish vs the new. you get approx 15k. for extra 15k you get a new car. i think likely they will get new given that this is probably their last car. I also did some rough calculation when comparing renewing Mazda5 and buying new car and finally I found new car more worthwhile. Link to post Share on other sites More sharing options...
Simpleonly 5th Gear May 7, 2015 Share May 7, 2015 Bro, not quite true on 15k. If you are basing on 72-75k COE then the WISH will cost ard 145k. 126k was when the CNY COE drop to ard 65-67K and BM go on price war. New wish parf will be ard 7.5k (CEVS, not 50% of PARF liao). I think now they never give 5yr free serving liao, so still need to cater service at AD in order to enjoy their 5 yr warranty. As we all know AD servicing/replacing of wear & tear item is ... I will say the different is ard 25-30k. end of the day different ppl different thinking & analysing it... On 5/6/2015 at 4:01 AM, Mkl22 said: just did a quick and rough calculation for my parents 2006 wish, to renew coe or buy new. in the end the difference is approx 15k. Probably this will be their last car. so after another 10years they will stop driving. renew wish (approx 160k km) 72k COE 10K forgo PARF 3k Paint, tires, compressor, shocks(needs to be done) 4k difference in rdtax over 10years 89k Brand new Wish 126k (someone bought this recently) -10k (parf of old wish) -10k (parf of new wish) 106k Difference is 17k. and to factor in another 2-3k extra maintenance of the old wish vs the new. you get approx 15k. for extra 15k you get a new car. i think likely they will get new given that this is probably their last car. 5 Link to post Share on other sites More sharing options...
Dafansu Turbocharged May 7, 2015 Share May 7, 2015 On 5/7/2015 at 12:59 PM, Simpleonly said: Bro, not quite true on 15k. If you are basing on 72-75k COE then the WISH will cost ard 145k. 126k was when the CNY COE drop to ard 65-67K and BM go on price war. New wish parf will be ard 7.5k (CEVS, not 50% of PARF liao). I think now they never give 5yr free serving liao, so still need to cater service at AD in order to enjoy their 5 yr warranty. As we all know AD servicing/replacing of wear & tear item is ... I will say the different is ard 25-30k. end of the day different ppl different thinking & analysing it... Agree with you different way of analyzing and if COE drops 10 to 20k in the next one year, you can save from here too. Link to post Share on other sites More sharing options...
BobbyTan_74287 4th Gear May 7, 2015 Share May 7, 2015 On 5/6/2015 at 4:27 AM, IloveVezel said: Why new car has cheaper insurance!? Not really as this depends on the Insurance companies bought from and what they covered. My old car Insurance is cheaper as market value lower. New car more expensive as market value higher and the policy stated for first 12 months if total loss, they will replace with a brand a new car. 1 Link to post Share on other sites More sharing options...
Vinceng Turbocharged May 7, 2015 Share May 7, 2015 If car is in good condition, renew COE. CHEAPER 3rd party insurance makes up for rd tax surcharge. And you don't have to be a slave to your car. Nobody wants to scratch an old car, and dents don't bother you. Doesn't attract red eyed jealous devils. 6 Link to post Share on other sites More sharing options...
Nissan833 5th Gear May 7, 2015 Share May 7, 2015 On 5/7/2015 at 3:51 PM, Vinceng said: If car is in good condition, renew COE. CHEAPER 3rd party insurance makes up for rd tax surcharge. And you don't have to be a slave to your car. Nobody wants to scratch an old car, and dents don't bother you. Doesn't attract red eyed jealous devils. Dun understand why others want to scratch new cars or shiny ones.. loser mentality. Link to post Share on other sites More sharing options...
BobbyTan_74287 4th Gear May 8, 2015 Share May 8, 2015 On 5/7/2015 at 4:29 PM, Nissan833 said: Dun understand why others want to scratch new cars or shiny ones.. loser mentality. This is due to Jealous. 9 years ago when I got my new car, I got scratches all over. I gave up and after that just dun bother. Anyway just exterior. The important thing is interior must be working fine. Link to post Share on other sites More sharing options...
Chong18 Neutral Newbie May 8, 2015 Share May 8, 2015 On 5/6/2015 at 4:01 AM, Mkl22 said: just did a quick and rough calculation for my parents 2006 wish, to renew coe or buy new. in the end the difference is approx 15k. Probably this will be their last car. so after another 10years they will stop driving. renew wish (approx 160k km) 72k COE 10K forgo PARF 3k Paint, tires, compressor, shocks(needs to be done) 4k difference in rdtax over 10years 89k Brand new Wish 126k (someone bought this recently) -10k (parf of old wish) -10k (parf of new wish) 106k Difference is 17k. and to factor in another 2-3k extra maintenance of the old wish vs the new. you get approx 15k. for extra 15k you get a new car. i think likely they will get new given that this is probably their last car. I think a better way to compare is to find out the yearly depreciation. For renew wish, it will be (renew COE $ + forgo PARF+ different in road tax over 10 years +initial $ for major overhaul)/10. For new wish, it will be (Buying price + loan interest - PARF)/10. Just my 2cents thoughts Link to post Share on other sites More sharing options...
Roh96 6th Gear May 8, 2015 Share May 8, 2015 On 5/8/2015 at 1:44 AM, BobbyTan_74287 said: This is due to Jealous. 9 years ago when I got my new car, I got scratches all over. I gave up and after that just dun bother. Anyway just exterior. The important thing is interior must be working fine. U only own the interior of the car. The exterior is at the mercy of other ppl. ↡ Advertisement 3 Link to post Share on other sites More sharing options...
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