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Car reaching 10yr in Oct, replace now or wait?

Jl255

By Jl255,
in General Car Discussion

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Kusje

Kusje

Supersonic
  On 2/27/2015 at 7:16 AM, Mustank said:

 

i suspect.........

 

Y5b8w6n.gif

 

No wonder he dare not admit. Sure kanna whack by 99% of the people here.

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Vinceng

Vinceng

Turbocharged

Either you renew COE or buy brand new. Avoid 2nd hand.

 

Assume you drive a bread and butter 1600ccc Jap car

 

Renew COE = $60,000 + $7,000 scrap value = $67,000 = $6,700 annual dep

 

Buy used = 7 year old Altis, Mazda 3, Lancer = average annual dep is $11,000 (excl repair costs)

 

Buy new = Altis, Sylphy = $100,000 - Scrap $7,000 = $9,300 annual dep

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Leo72

Leo72

6th Gear
  On 2/27/2015 at 3:09 PM, Vinceng said:

Either you renew COE or buy brand new. Avoid 2nd hand.

 

Assume you drive a bread and butter 1600ccc Jap car

 

Renew COE = $60,000 + $7,000 scrap value = $67,000 = $6,700 annual dep

 

Buy used = 7 year old Altis, Mazda 3, Lancer = average annual dep is $11,000 (excl repair costs)

 

Buy new = Altis, Sylphy = $100,000 - Scrap $7,000 = $9,300 annual dep

 

Yes, the 2nd hand car market is crazy now. Annual Dep more than a new car. Obviously the new car loan rules is getting a lot of middle class people into more dangerous debt.

 

The new car loans for new car work in a way that once you get your hand on your car, you'll not be in debt as the car paper value at that point is already more than your car loan.

 

For the current 2nd hand car market, you're in debt once you get your hand on the car as the loan is more than the paper value of the car. This is especially for cars that are registered in late 2008 early 2009.

 

I agree to avoid the 2nd hand car unless you got no choice.

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Andyngps

Andyngps

5th Gear
(edited)

You do not have to wait till ge. Wait for the 2nd coe quota release and you will know. If the numbers remain similar as this quarter, then you know clawback has really started, though many said it already has started. from here till then, it is a guessing game.

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Kyrios

Kyrios

Turbocharged
  On 2/27/2015 at 3:09 PM, Vinceng said:

Either you renew COE or buy brand new. Avoid 2nd hand.

 

Assume you drive a bread and butter 1600ccc Jap car

 

Renew COE = $60,000 + $7,000 scrap value = $67,000 = $6,700 annual dep

 

Buy used = 7 year old Altis, Mazda 3, Lancer = average annual dep is $11,000 (excl repair costs)

 

Buy new = Altis, Sylphy = $100,000 - Scrap $7,000 = $9,300 annual dep

That's a very good point. I have been monitoring used car prices...

 

I only can say .. I hope these used car dealers can sleep peacefully at night... [rifle]

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Sdexxxxd

Sdexxxxd

2nd Gear
  On 2/28/2015 at 12:39 AM, Andyngps said:

You do not have to wait till ge. Wait for the 2nd coe quota release and you will know. If the numbers remain similar as this quarter, then you know clawback has really started, though many said it already has started. from here till then, it is a guessing game.

 

Bro you are probably right.

 

From LTA website, the Jan de-registered cars is 5,269

 

If the following 3 months continue the same trend of >5,000 per month, we can monitor whether LTA has implemented keeping of the COE quota for the famine years.

 

From the earlier sources, it was said to maintain an even annual quota of 60,000, which works out to be 2,500 per bidding.

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Andyngps

Andyngps

5th Gear
  On 2/28/2015 at 2:18 AM, Sdexxxxd said:

 

Bro you are probably right.

 

From LTA website, the Jan de-registered cars is 5,269

 

If the following 3 months continue the same trend of >5,000 per month, we can monitor whether LTA has implemented keeping of the COE quota for the famine years.

 

From the earlier sources, it was said to maintain an even annual quota of 60,000, which works out to be 2,500 per bidding.

Tbh, I may be selfish to say this but I prefer a constant supply. Hate all the waiting thinking it will go down or not and on the other hand pray hard my car will not break down while waiting. I would say 40-50k is a moderate range to keep. If coe crashes, those who bought at high will just renew, hence pushing up the demand again.

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Sdexxxxd

Sdexxxxd

2nd Gear
  On 2/28/2015 at 3:53 AM, Andyngps said:

Tbh, I may be selfish to say this but I prefer a constant supply. Hate all the waiting thinking it will go down or not and on the other hand pray hard my car will not break down while waiting. I would say 40-50k is a moderate range to keep. If coe crashes, those who bought at high will just renew, hence pushing up the demand again.

 

Agree on the constant supply, which likely to be 60,000 quota each year, which is 2,500 per bid.

 

if Feb-Apr de-registration continues to exceed 5,000 per month, then that's it. we are probably in the period whereby they will commence the "clawback" or storage for future famine years.

 

Those who have been waiting at sidelines, or worse still thinking of buying a 8-9+ year old at high depreciation need to assess their situation,.

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Ongkmeng

Ongkmeng

2nd Gear
  On 2/27/2015 at 8:44 PM, Sdexxxxd said:

Probably after the next GE..

 

This is confirmed one. ZhenHu will not upset voter with adverse announcement before GE. Question is when GE will be ? Ppl say it is likely Q4 2015 (after NDP).

 

With past 2 days of newspaper report on public transport vs car, it seem that they are staging something. Just hope the clawback wont happen earlier ..

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Sdexxxxd

Sdexxxxd

2nd Gear
  On 2/28/2015 at 4:44 AM, Ongkmeng said:

 

This is confirmed one. ZhenHu will not upset voter with adverse announcement before GE. Question is when GE will be ? Ppl say it is likely Q4 2015 (after NDP).

 

With past 2 days of newspaper report on public transport vs car, it seem that they are staging something. Just hope the clawback wont happen earlier ..

 

got rumour saying some people might pass on, and GE will be held swiftly in Q2 this year, not sure zhun or not

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Angcheek

Angcheek

Hypersonic

 

死无全尸 哈哈

 

  On 2/27/2015 at 9:21 AM, Kusje said:

 

No wonder he dare not admit. Sure kanna whack by 99% of the people here.

 

They still waiting for fat meat .... the price is ridiculous for reuse car.

 

  On 2/28/2015 at 1:38 AM, Kyrios said:

That's a very good point. I have been monitoring used car prices...

 

I only can say .. I hope these used car dealers can sleep peacefully at night... [rifle]

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Dafansu

Dafansu

Turbocharged
  On 2/27/2015 at 3:09 PM, Vinceng said:

Either you renew COE or buy brand new. Avoid 2nd hand.

 

Assume you drive a bread and butter 1600ccc Jap car

 

Renew COE = $60,000 + $7,000 scrap value = $67,000 = $6,700 annual dep

 

Buy used = 7 year old Altis, Mazda 3, Lancer = average annual dep is $11,000 (excl repair costs)

 

Buy new = Altis, Sylphy = $100,000 - Scrap $7,000 = $9,300 annual dep

Find that Renew is the best since stats already showing favorable lower upcoming COE. unless PARF for the vehicle is high.

 

If not scrap, wait and buy again within the next 1 to 2 years if don't really need a car

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