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

[Kyrios]

 

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

That's got to be really pathetic...relying on people's love for a particular person to earn votes...they got to learn from India..there Gandhi's own party got kicked out after Gandhi's descendants failed to live up to standards...

[Kusje]

That's got to be really pathetic...relying on people's love for a particular person to earn votes...they got to learn from India..there Gandhi's own party got kicked out after Gandhi's descendants failed to live up to standards...

 

Only same last name... They are his descendants....

[Leo72]

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...

Those used car dealers have no problem sleeping peacefully at night. Because it's willing seller willing buyer case, they didn't point gun on your head or put a knife on your throat to get you to buy.

 

If only the loan for 2nd hand cars are tied to the paper value, then the 2nd hand cars market will not be so crazy. Of course if the 2nd hand cars cannot be sell at a high price, the COE price will also drop with the 40 / 50 % down payments requirements.

[Kusje]

Those used car dealers have no problem sleeping peacefully at night. Because it's willing seller willing buyer case, they didn't point gun on your head or put a knife on your throat to get you to buy.

 

If only the loan for 2nd hand cars are tied to the paper value, then the 2nd hand cars market will not be so crazy. Of course if the 2nd hand cars cannot be sell at a high price, the COE price will also drop with the 40 / 50 % down payments requirements.

 

I agree.

 

Those 2nd hand car dealers who cheat on mileage and make up stories on the car's condition should be worried at night.

 

But those who just mark up and sell without any embellishment should be able to sleep peacefully at night. Even if their mark up is high, it is all willing buyer, willing seller.

[Jamesc]

 

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 ..

 

If I was fighting the election, I will fight early

 

and take the opposition by suprise

 

before they can react and prepare.

 

[leesh26]

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

 

Agree on renewing COE if your car is in reasonably good condition, though the scrap value if likely to be closer to $10,000 including body.

My experience in buying used car is to go for 8-9 year old ones where you have a better chance of getting the price down to an annual depreciation of $7,000 to 8,000. There are many cars in this age group which are well-maintained with some even having their major parts replaced (eg. timing belt, transmission etc).

Buying a new car is just too long a commitment, knowing the annual depreciation has a 10-year time horizon.

 

[So_nice]

 

Agree on renewing COE if your car is in reasonably good condition, though the scrap value if likely to be closer to $10,000 including body.

My experience in buying used car is to go for 8-9 year old ones where you have a better chance of getting the price down to an annual depreciation of $7,000 to 8,000. There are many cars in this age group which are well-maintained with some even having their major parts replaced (eg. timing belt, transmission etc).

Buying a new car is just too long a commitment, knowing the annual depreciation has a 10-year time horizon.

 

I think doesn't apply to most in mcf cuz they pay full cash lol

[leesh26]

I think doesn't apply to most in mcf cuz they pay full cash lol

 

Do you mean being unable to get the price down when paying full cash buying a used car?

 

I do that too and get the dealer not to quibble on the amount if not taking a loan of price less than $30,000.

[So_nice]

 

Do you mean being unable to get the price down when paying full cash buying a used car?

 

I do that too and get the dealer not to quibble on the amount if not taking a loan of price less than $30,000.

Oh no bro, I mean most folks in mcf paid full cash be it for brand new cars, used cars and maybe even property. So dun think a 10 yr horizon depreciation applies to most of them.

 

But I poor man son lah. Both my cars got take loan. The only thing I paid full cash recently was the chai png and kopi o I had this morning

[Ongkmeng]

 

If I was fighting the election, I will fight early

 

and take the opposition by suprise

 

before they can react and prepare.

 

 

 

No need to prepare much for both Lightning and Hammer.

They just need to get the voters excited to win their votes.

Just give me a cheap COE, I will be very happy liao.

[Jamesc]

 

 

No need to prepare much for both Lightning and Hammer.

They just need to get the voters excited to win their votes.

Just give me a cheap COE, I will be very happy liao.

 

That's a very good idea.

 

If it was me just before the election

 

increase the supply of COEs and

 

let the price drop. Then after win

 

the election close the tap and let

 

COE go to 100k. Repeat every 5 years.

 

[Ongkmeng]

 

That's a very good idea.

 

If it was me just before the election

 

increase the supply of COEs and

 

let the price drop. Then after win

 

the election close the tap and let

 

COE go to 100k. Repeat every 5 years.

 

 

Dont be surprised that your prediction may happen. You can see the recent reports in paper & Minister of Txport are already hinting a clawback of COE for the famine period, reducing car population, making driving expensive.

 

But now Lightning can't strike yet, otherwise they may strike away some constituency or GRC. They will not rock the boat when they are together in it. Once it reaches the shore (e.g. election over), all colours, patterns & stunt can show off. We kow pei also no use then.

Edited March 4, 2015 by Ongkmeng

[Andyngps]

With the demand so huge, with so many people waiting, how much can coe decrease? It may be just that one time off decrease and perhaps those who benefit will be those who already book the rides with rebate level? Then the next round while many will rush to buy the new cars since prices are down but they may not get the rides delivered without topping up since demand will be overwhelming. If coe crash to 2005-2010 period, mas regulations will not work anymore unless garment now step in and say 100% upfront. Then banks will kpkb.

[Hamburger]

many would say price would drop due to more car deregister and more coe.

 

but it also mean more car buyer entering the market.

 

bottom line....its all about demand and supply.

[yo2020]

many would say price would drop due to more car deregister and more coe.

but it also mean more car buyer entering the market.

bottom line....its all about demand and supply.

 

not all buyers r having the same buying power. this is the unknown figures that ppl r hoping to b big.

 

[Jp66]

not now, my ride still have 3 years to go. but recently have the thought should I renew if it stay at this level for next 3 years. my comfort level is below $60k.

Anyone renewed or renwing with PQP now around $70kk .??

 

[Nissan833]

Oh no bro, I mean most folks in mcf paid full cash be it for brand new cars, used cars and maybe even property. So dun think a 10 yr horizon depreciation applies to most of them.

 

But I poor man son lah. Both my cars got take loan. The only thing I paid full cash recently was the chai png and kopi o I had this morning

 

Pay full cash also have depreciation leh..

 

Today I buy Ya kun, auntie ask me use what to pay, I say pay cash lor because I frequent MCF, scare people laugh at me never pay cash.

[Forte3737]

Quote from you

 

"There are many cars in this age group which are well-maintained with some even having their major parts replaced "

 

 

I woild say its rare

 

 

 

 

 

Agree on renewing COE if your car is in reasonably good condition, though the scrap value if likely to be closer to $10,000 including body.

My experience in buying used car is to go for 8-9 year old ones where you have a better chance of getting the price down to an annual depreciation of $7,000 to 8,000. There are many cars in this age group which are well-maintained with some even having their major parts replaced (eg. timing belt, transmission etc).

Buying a new car is just too long a commitment, knowing the annual depreciation has a 10-year time horizon.