New Car or Pre-owned?? Either side, we lose.

[Mach23]

The way I see it , there's no point going back to history, the real options now are buying a car that suit yr budget or save the money for taxi rides.

 

 

[Wormvirus]

the way i see it , if the sun rise from west, sinkies can come united , coe is only $1

[Spurman]

Sad facts... At 90k coe, one loses 9k yearly on paper.

Assume he gets the car at 150k, scrap value say 10k. He loses 140k on a bnb car if he drives full in 10yrs... He loses 14k yearly just on a car alone, add another 10k running cost. Wow. 24k a yr......,

[Spurman]

Sad facts... At 90k coe, one loses 9k yearly on paper.

Assume he gets the car at 150k, scrap value say 10k. He loses 140k on a bnb car if he drives full in 10yrs... He loses 14k yearly just on a car alone, add another 10k running cost. Wow. 24k a yr......,

[Scandy]

If you look at prius its even worst, 2009 priced ar 97k, today, 2009 car is still selling at 97k or more....

 

This reminds of a Channelnewsasia article of 9 Jan 2013: http://www.channelnewsasia.com/stories/sin...1246892/1/.html

 

In the 2nd last paragraph, Mr. Raymond Tang, honorary secretary of Singapore Vehicle Traders Association was quoted to have said: "Consumers can also consider going into the used car market and buy these cars because there is enough supply for the demand. That is why in the used car market, even when the COE goes up rocket-high, the price is still very stable."

 

Gosh, he seems totally out of touch with the situation on the ground.

 

 

[Scandy]

Sad facts... At 90k coe, one loses 9k yearly on paper.

Assume he gets the car at 150k, scrap value say 10k. He loses 140k on a bnb car if he drives full in 10yrs... He loses 14k yearly just on a car alone, add another 10k running cost. Wow. 24k a yr......,

 

Ya, this is exactly what confuses me....

 

Lets say we spend 25% of our take home pay on cars. If we spend $24k on the car, it means we have take home pay of about $100k per annum. Wow, are there really so many people taking home $100k per year now....and not just that, he also must be confident that he's able to maintain that $100k take home pay for the next 10 years! I keep wondering how people afford it!

 

I assigned 25% of take home pay because I don't think its wise to spend more than that on a car (actually I feel that 25% is already too high for a car). We still have to pay for the house instalments (another few k per month), go for holidays, support family (if married) or go dating (if single), pay for other living expenses, etc etc....and of course its also important to save a bit every month.

 

I suspect that many who bought cars the last few months were normal salaried people. I really don't understand how they can afford it!

 

 

[Atlantis80]

Sad truth is that even though we know how to "calculate" such that we know those pre-owned cars are now being sold at inflated "market prices", we are eventually still price takers in the market. Either you buy the car, or you don't buy the car. Period.

[Camrysfa]

This reminds of a Channelnewsasia article of 9 Jan 2013: http://www.channelnewsasia.com/stories/sin...1246892/1/.html

 

In the 2nd last paragraph, Mr. Raymond Tang, honorary secretary of Singapore Vehicle Traders Association was quoted to have said: "Consumers can also consider going into the used car market and buy these cars because there is enough supply for the demand. That is why in the used car market, even when the COE goes up rocket-high, the price is still very stable."

 

Gosh, he seems totally out of touch with the situation on the ground.

 

Visited a used car mart......

 

Plenty of used cars, all shops lots are parked to the brim. some are parked in the open ( dun know for how long already)

 

Browsers are few.....most leave after some chatting.

 

5 year old Cat A car now easily 50K plus......very expensive hor.

[Chrispie]

my car is reaching its sixth year. Depreciation around 8.5k.

 

New car or even newer pre owned car of something as nice as the 159 easily 15k a year depre...

 

I reckoned that i wont need to pay 7k EVERY YEAR for repair lah... so.. keeping the car is way cheaper.

[Ralliart99]

Ya, this is exactly what confuses me....

 

Lets say we spend 25% of our take home pay on cars. If we spend $24k on the car, it means we have take home pay of about $100k per annum. Wow, are there really so many people taking home $100k per year now....and not just that, he also must be confident that he's able to maintain that $100k take home pay for the next 10 years! I keep wondering how people afford it!

 

I assigned 25% of take home pay because I don't think its wise to spend more than that on a car (actually I feel that 25% is already too high for a car). We still have to pay for the house instalments (another few k per month), go for holidays, support family (if married) or go dating (if single), pay for other living expenses, etc etc....and of course its also important to save a bit every month.

 

I suspect that many who bought cars the last few months were normal salaried people. I really don't understand how they can afford it!

 

Bro, its not hard for people to fork out huge money for cars. monthly installations of 1500, 2000 or even 2500 dollars. they can use up most of their salary for car. the important thing here is the amount of commitment they have currently. if they are single, no need pay for housing, no need give family or parents. That's easy. just hope it stays that way for them

Edited February 25, 2013 by Ralliart99

[13177]

my car is reaching its sixth year. Depreciation around 8.5k.

 

New car or even newer pre owned car of something as nice as the 159 easily 15k a year depre...

 

I reckoned that i wont need to pay 7k EVERY YEAR for repair lah... so.. keeping the car is way cheaper.

No matter which car you buy, whether it is new or used, the depreciation confirm is high as compared to your current car. But importanly is your current car has no major problem and in good condition, then it is way cheaper to keep your current car.