High COE, worth to extend my 10th year old car? How?

[A_korusawa]

Hi, All

 

My wheel (Cat B) is reaching its 10th yr nxt Jun. And dun think COE will come done in the next 2yrs (end 2014 maybe).

Bcos I had spent great efforts & loads $ to maintain the car, it still looks brand new inside out (yes, how stupid of me).

I dun mind about the price of car body, but rather the $ to put it on the road for use . . . .

 

Please advice on a step-by-step guide to obtain the open COE for the abovementioned?

Does it require inspection, insurance etc?

 

Finally, is it worth it ???

[Mazdaowner]

Hi, All

 

My wheel (Cat B) is reaching its 10th yr nxt Jun. And dun think COE will come done in the next 2yrs (end 2014 maybe).

Bcos I had spent great efforts & loads $ to maintain the car, it still looks brand new inside out (yes, how stupid of me).

I dun mind about the price of car body, but rather the $ to put it on the road for use . . . .

 

Please advice on a step-by-step guide to obtain the open COE for the abovementioned?

Does it require inspection, insurance etc?

 

Finally, is it worth it ???

 

I had the same thoughts as you. Ended up exporting my car and gettin another,

If you do your sums, cost of COE + SCRAP best to get another car,

COE can get back if (prorate) car gone case, scrap value is down the drain.

I put in a lot of effort to maintain all my cars as well, this, sadly is Singapore,

LPPL, next owner enjoy.

[macrosszero]

Its still a large chunk of change between just a COE paper and a new car with COE...... If you like your car, keep it?

[Alim]

Extend by 5 years and pay 50% PQP.

 

Based on this Article, there will be more COEs available in 2015/2016.

 

In 2015/15 if COE really low, Dereg and get back your balance COE, then buy a new car.

Edited December 1, 2012 by Alim

[Aventador]

It really depends what car you have.

 

Renewing your car COE you will lose the OMV rebate, plus top up $80-90,000.

 

So effectively you are buying another car at $100k ++ or even more (depend on your OMV )

 

If it is a Japanese car, forget about it. Assume u drive 5 yrs and decide to sell, no one is going pay you $50k plus or more for a 15 yr old car.

 

For European cars, base model BMW / Mercedes types also not worth it because a new c class is about $180-190k, with warranty, new tech, and parf rebate

 

But if you are driving a really high OMV car, then it might be worth it.

 

If I take a wild guess , I say you have a porsche 911. Yr 2003. OMV 120k. So if you lose $50k parf rebate ,and top up $90k Coe, you can own the 911 for 10 yrs for about $140k. This amount will buy you no equivalent Porsche 911.

 

If my guess is right, I think it is worth it , as the car looks good still and is reliable

Edited December 1, 2012 by Aventador

[DanielWei]

Really depends on the make of the car is still alot of money for the next 10 years. You need totsl cash to pay for the extension ?. no loan right ?.

[Yeshe]

Hi, All

 

My wheel (Cat B) is reaching its 10th yr nxt Jun. And dun think COE will come done in the next 2yrs (end 2014 maybe).

Bcos I had spent great efforts & loads $ to maintain the car, it still looks brand new inside out (yes, how stupid of me).

I dun mind about the price of car body, but rather the $ to put it on the road for use . . . .

 

Please advice on a step-by-step guide to obtain the open COE for the abovementioned?

Does it require inspection, insurance etc?

 

Finally, is it worth it ???

 

i think 10yr COE extension no loan right? somemore Cat B COE + your parf rebate definitely > $100k, might as well look for a 2nd hand 3 yr old ride with this budget in mind and still can get back parf at the end of life?

[Mazdaowner]

Cat B lah.

It really depends what car you have.

 

Renewing your car COE you will lose the OMV rebate, plus top up $80-90,000.

 

So effectively you are buying another car at $100k ++ or even more (depend on your OMV )

 

If it is a Japanese car, forget about it. Assume u drive 5 yrs and decide to sell, no one is going pay you $50k plus or more for a 15 yr old car.

 

For European cars, base model BMW / Mercedes types also not worth it because a new c class is about $180-190k, with warranty, new tech, and parf rebate

 

But if you are driving a really high OMV car, then it might be worth it.

 

If I take a wild guess , I say you have a porsche 911. Yr 2003. OMV 120k. So if you lose $50k parf rebate ,and top up $90k Coe, you can own the 911 for 10 yrs for about $140k. This amount will buy you no equivalent Porsche 911.

 

If my guess is right, I think it is worth it , as the car looks good still and is reliable

 

[Mazdaowner]

i think 10yr COE extension no loan right? somemore Cat B COE + your parf rebate definitely > $100k, might as well look for a 2nd hand 3 yr old ride with this budget in mind and still can get back parf at the end of life?

 

I oso say, car die on you on the 3rd year all liow.

[Yeshe]

Hi, All

 

My wheel (Cat B) is reaching its 10th yr nxt Jun. And dun think COE will come done in the next 2yrs (end 2014 maybe).

Bcos I had spent great efforts & loads $ to maintain the car, it still looks brand new inside out (yes, how stupid of me).

I dun mind about the price of car body, but rather the $ to put it on the road for use . . . .

 

Please advice on a step-by-step guide to obtain the open COE for the abovementioned?

Does it require inspection, insurance etc?

 

Finally, is it worth it ???

 

unless u are telling me the ride is a supercar, then its a no brainer, confirm have to extend or either reselll to dealer. scrapping a supercar at 10yr old is unimagineable

[Yeshe]

Extend by 5 years and pay 50% PQP.

 

Based on this Article, there will be more COEs available in 2015/2016.

 

In 2015/15 if COE really low, Dereg and get back your balance COE, then buy a new car.

 

u forfiet your parf as soon as u extend coe by either 5 or 10yrs. so its not worth if u extend 5yrs

[Raymondism]

Hi, All

 

My wheel (Cat B) is reaching its 10th yr nxt Jun. And dun think COE will come done in the next 2yrs (end 2014 maybe).

Bcos I had spent great efforts & loads $ to maintain the car, it still looks brand new inside out (yes, how stupid of me).

I dun mind about the price of car body, but rather the $ to put it on the road for use . . . .

 

Please advice on a step-by-step guide to obtain the open COE for the abovementioned?

Does it require inspection, insurance etc?

 

Finally, is it worth it ???

 

why not just buy a second hand car...

[Lala81]

sadly in singapore, i feel there is no point extending.

 

my dad's accord is due for scrap in 1 yr.

Though other than a power steering joint leaking fluid, it is still reliable.

Just not worth keeping these cars nowadays.

Edited December 1, 2012 by Lala81

[Redboy]

i think 10yr COE extension no loan right? somemore Cat B COE + your parf rebate definitely > $100k, might as well look for a 2nd hand 3 yr old ride with this budget in mind and still can get back parf at the end of life?

 

 

as what bros here mentioned, it depends on OMV value of the due-to-be scrapped car.

 

If OMV is high, then maybe consider to scrap and get another 2nd hand car equivalent to COE + parf rebate.

However, it's likely that 2nd hand car will most likely be a downgrade from the existing vehicle....

[Vhtfhwlego]

Actually you don't need to think so much...

Because from now to then, anything can happen to your car.

For example, someone hit u from the rear... Damage is so bad that your good car become a lousy car...

 

When the time is up, just do the maths.

Before the time is up, enjoy the ride.

[Mllcg]

cat B or otherwise,

 

renewing COE still cheaper.

 

buying a new cat B car will cost upwards of 120k(at least)

 

renewing 10 years COE at PQP= <95k nia.

 

saved 30k alr

[macrosszero]

There's still the 10-30k of PARF payout that the owner has to forego in extending COE. Its not money out of pocket, but its money foresaken.

[Celicar]

But if you are driving a really high OMV car, then it might be worth it.

I thought it is other way round, high OMV then not worth it to renew since will forfeit high rebate.