Maz0608 3rd Gear January 9, 2013 Share January 9, 2013 I believe after this round of COE, many people might sell off their 1-2 year old car. I believe after this round COE, many ppl will write in asking for some kind of subsidy because they need a car more than others. ↡ Advertisement Link to post Share on other sites More sharing options...
13177 Hypersonic January 9, 2013 Share January 9, 2013 1994 highest Coe was 104,500. Change that to current terms is about 150,000. Huat ah Was the $104K the highest COE price in history? Link to post Share on other sites More sharing options...
Steptronic Supercharged January 9, 2013 Author Share January 9, 2013 Was the $104K the highest COE price in history? In Dec 94, Cat 3 (1601 to 2000CC) was 83.5k, Cat 4 (>2001CC) was 110.5k and both were equivalent to present Cat B. Link to post Share on other sites More sharing options...
Jiex 2nd Gear January 9, 2013 Share January 9, 2013 CNY coming, probably dealers wanna deliver new cars to customer so bidded aggressively Link to post Share on other sites More sharing options...
Shift_lock 1st Gear January 9, 2013 Share January 9, 2013 No suprises really. Don't think COE will go down any time soon unless drastic changes are made to the system. Makes me worried what will I do when my COE is up in 2015 Link to post Share on other sites More sharing options...
Adrianlim13 2nd Gear January 9, 2013 Share January 9, 2013 dont think govt will make changes Link to post Share on other sites More sharing options...
Beehive3783 Turbocharged January 10, 2013 Share January 10, 2013 Maybe I should sell my 9 month old car and buy a cheap COE car to drive till 2019 or 2020.. Hmm.. Link to post Share on other sites More sharing options...
Deckbuild 6th Gear January 10, 2013 Share January 10, 2013 Maybe I should sell my 9 month old car and buy a cheap COE car to drive till 2019 or 2020.. Hmm.. I got the same feeling now, Just to check with those that have sold their first hand cars within a year of owning it, how does the loan redemption works when you trade in for another car? Link to post Share on other sites More sharing options...
Beehive3783 Turbocharged January 10, 2013 Share January 10, 2013 I got the same feeling now, Just to check with those that have sold their first hand cars within a year of owning it, how does the loan redemption works when you trade in for another car? You have to redeem the loan first before you can transfer car ownership to another party. First you need to call the bank to check on the early settlement amount. This amount usually is after early settlement penalty and interest rebates. If you're doing a private transaction, perhaps can get SGCarmart to settle the paperwork. It's free from what I know. If you're selling to dealer, hard to get profit. But they can settle everything for you. Just make sure the loan is settled before letting them transfer ownership of the car. Link to post Share on other sites More sharing options...
13177 Hypersonic January 10, 2013 Share January 10, 2013 I got the same feeling now, Just to check with those that have sold their first hand cars within a year of owning it, how does the loan redemption works when you trade in for another car? No wonder you can find so many 1-3 year old car in the used car market. Cause many people like you all intend to sell off their newly bought car and reap profit. Link to post Share on other sites More sharing options...
Kar_lover Supercharged January 10, 2013 Share January 10, 2013 I got the same feeling now, Just to check with those that have sold their first hand cars within a year of owning it, how does the loan redemption works when you trade in for another car? It would depend on the T&C for your car loan. Different banks got different T&C. Understand that DBS iHP got not settlement fee. So just pay the balance (net of rule of 78 rebate). Link to post Share on other sites More sharing options...
13177 Hypersonic January 10, 2013 Share January 10, 2013 (edited) No suprises really. Don't think COE will go down any time soon unless drastic changes are made to the system. Makes me worried what will I do when my COE is up in 2015 COE will only go down when LTA release more COE quota. As the price of the COE depends mainly on the quota available. Like i read one article few days ago, they reported back in 2007, there were 10K of COE quota, and currently only have 2K plus quota available, no wonder the price can shoot from back then $1K to current $90K! Anyway, if the COE doesnt drop when your COE is up in 2015, you can jolly opt to buy a used car lo. Like those 5 years plus used car. Edited January 10, 2013 by 13177 Link to post Share on other sites More sharing options...
Darryn Turbocharged January 10, 2013 Share January 10, 2013 In Dec 94, Cat 3 (1601 to 2000CC) was 83.5k, Cat 4 (>2001CC) was 110.5k and both were equivalent to present Cat B. CPI in 1994 was 82.3 CPI as of Sept 2012 was 114.4 If my math is correct that means that at a price of $110,500 for a COE in 1994 translates to $153,600 in today's dollars - it still has some way left to go before it is at a peak Link to post Share on other sites More sharing options...
Kar_lover Supercharged January 10, 2013 Share January 10, 2013 Maybe I should sell my 9 month old car and buy a cheap COE car to drive till 2019 or 2020.. Hmm.. How much was car then and how much is it now? How much you loaned? You might just break even only. Link to post Share on other sites More sharing options...
Deckbuild 6th Gear January 10, 2013 Share January 10, 2013 No wonder you can find so many 1-3 year old car in the used car market. Cause many people like you all intend to sell off their newly bought car and reap profit. Not really for profit, I'm upgrading to bigger size 2nd Prius, the current one a little small for my family. No loss happy enough liao, still wanna talk about profit... Profit only when sell and take BMW... Link to post Share on other sites More sharing options...
Beehive3783 Turbocharged January 10, 2013 Share January 10, 2013 How much was car then and how much is it now? How much you loaned? You might just break even only. The list price back then was 90+K.. now the list price is about $130K Link to post Share on other sites More sharing options...
Deckbuild 6th Gear January 10, 2013 Share January 10, 2013 The list price back then was 90+K.. now the list price is about $130K List price 90k means u got it for less than 90k? If no loan I think might be able to get some profit out of it.... Link to post Share on other sites More sharing options...
Kar_lover Supercharged January 10, 2013 Share January 10, 2013 The list price back then was 90+K.. now the list price is about $130K If you took full loan, your total capital could be $110k (your 90k+ i don't know is how much). Depending on which car you bought (different brands have different resale value) and whether you willing to work hard to sell yourself or go through dealer, your resale price will be around $95k to $105k. You can check sgcarmart used car listing to see other similar cars selling how much then deduct a $5k to $10k if you're trading in. ↡ Advertisement Link to post Share on other sites More sharing options...
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