How much are you losing for new cars

[Philipkee]

If true, then no point change car every now and then. Best is drive till end of its coe

Not true cos of coe unless it is constant.

 

Example. A car costing $120000 becomes $60000 (scrap value) within three years but if during this time coe crashed to the extent that a new car of same model now costs $60000, it might be worth to change.

[Heartlander]

Not true cos of coe unless it is constant.

 

Example. A car costing $120000 becomes $60000 (scrap value) within three years but if during this time coe crashed to the extent that a new car of same model now costs $60000, it might be worth to change.

Agree theoretically.

 

But lets just say that this situation prevented or discouraged more from changing ride unless they have very deep pockets and earn so much money that they treat money like dirt.

 

A colleague of mine has a Vezel that is less than 3 years old yet the best offer he gets recently is less than 50% of purchase price. But at least he still got a car to drive. Must think positively.

[RogerNg_185295]

Not true cos of coe unless it is constant.

 

Example. A car costing $120000 becomes $60000 (scrap value) within three years but if during this time coe crashed to the extent that a new car of same model now costs $60000, it might be worth to change.

Ok. But if no crash or whatsoever, then drive till end of Coe is wiser right?

[Philipkee]

Ok. But if no crash or whatsoever, then drive till end of Coe is wiser right?

Not really. But my experience is Korean cars have lots of expensive repairs after the 4-6 year (engine oil leaks). Cost over a thousand dollars to fix (2 different cracks at 2 different times). Money is not the issue but the stress when you use dipstick and find no engine oil on the stick...........

 

Unless you are like my bro. Car overheat he just casually go buy cold mineral water from petrol station and just pour into radiator. He fixed it eventually but if it were me and I know my car can overheat I will probably be looking to get rid of it ASAP.

 

Car lasted 10 years and yeah it did not catch fire but I got palpitations sometimes while in his car.

 

But if car is good, yes.

Edited October 1, 2018 by Philipkee

[Heartlander]

Ok. But if no crash or whatsoever, then drive till end of Coe is wiser right?

Frankly your argument make no sense.

 

If after owning a car for 3 years, the COE plunge to the level that a brand new car cost the same as that of the 3 year old car price, why not sell it and get a brand new car that can last another 10 years? If you continue with the first csr, can only drive for another 7 years.

 

This is a no-brainer kind of choice isn't it?

[Thaiyotakamli]

Frankly your argument make no sense.

 

If after owning a car for 3 years, the COE plunge to the level that a brand new car cost the same as that of the 3 year old car price, why not sell it and get a brand new car that can last another 10 years? If you continue with the first csr, can only drive for another 7 years.

 

This is a no-brainer kind of choice isn't it?

If the car cheaper than coe, scrap the car and get new car with cheap coe?

[inlinesix]

Frankly your argument make no sense.

 

If after owning a car for 3 years, the COE plunge to the level that a brand new car cost the same as that of the 3 year old car price, why not sell it and get a brand new car that can last another 10 years? If you continue with the first csr, can only drive for another 7 years.

 

This is a no-brainer kind of choice isn't it?

Despite 50% plunge in COE, my car still around the same price.

 

Somemore my old car value is only half of new car.

[Heartlander]

If the car cheaper than coe, scrap the car and get new car with cheap coe?

For me I would sell it and buy another car of my fancy, just nice with the itch that would have been there haha.

Despite 50% plunge in COE, my car still around the same price.

 

Somemore my old car value is only half of new car.

Time to change ride already? 

[inlinesix]

For me I would sell it and buy another car of my fancy, just nice with the itch that would have been there haha.

 

Time to change ride already?

How to change when I need to top up at least 80k?

 

Selling price of my car didn’t drop despite drop in COE.

[Nlatio]

You all don't like that..... help a bit lor....

 

Depending the make/model.... smelly smelly on average will lost around $20K.... kena before so I know...     ........... that's why I never touch PI car from now on!!! No test drive, no go!!!!

 

But compare to not having the "correct ride" to losing that amount, only you will know whether worth it!!!

[Nlatio]

You can use the car loan calculator to check.

 

So I use the Mazda 6 executive as an example.... it shows break even just slightly after 3 year mark..... so what does it mean?? Can sell after that?? Still learning everyday!! 

[Blueray]

New car, use 6 months, sell.

 

My guesstimate is at least 20% off. More likely close to 30% in view of current declining COE environment.

[Fcw75]

Different car varies.

 

Just sold my slightly less than 6 mths old Hyundai Kona so sharing my experience.

 

Bought the car for $80K and sold it for $71.5K. New car when I was selling was $86K due to the car from being VES rebate to VES neutral.

 

Dep for the a new one would $8.2K/yr while mine is $7.2K/yr, this is taking into account VES.

 

Of course if you add the loan interest, the loss will be much more.

 

Try to sell to direct buyer, that’s what I did. Both sides benefit. I guess he doesn’t want to wait a month or two for a new car too.

Edited October 2, 2018 by Fcw75

[PaulMeng]

Frankly your argument make no sense.

 

If after owning a car for 3 years, the COE plunge to the level that a brand new car cost the same as that of the 3 year old car price, why not sell it and get a brand new car that can last another 10 years? If you continue with the first csr, can only drive for another 7 years.

 

This is a no-brainer kind of choice isn't it?

 

The new car prices now is cheaper than used car selling in sgcarmart with the same car model!

Buyers, please beware of chop carrot in the used car market.

[Mkl22]

Different car varies.

 

Just sold my slightly less than 6 mths old Hyundai Kona so sharing my experience.

 

Bought the car for $80K and sold it for $71.5K. New car when I was selling was $86K due to the car from being VES rebate to VES neutral.

 

Dep for the a new one would $8.2K/yr while mine is $7.2K/yr, this is taking into account VES.

 

Of course if you add the loan interest, the loss will be much more.

 

Try to sell to direct buyer, that’s what I did. Both sides benefit. I guess he doesn’t want to wait a month or two for a new car too.

 

wah only 6mths? what happen?

 

you were raving  excitedly for the car. whats next?

Edited October 2, 2018 by Mkl22

[theory_87]

So I use the Mazda 6 executive as an example.... it shows break even just slightly after 3 year mark..... so what does it mean?? Can sell after that?? Still learning everyday!! 

No. You need to factor in your 30% or 40% down payment and check when is the breakeven point

[Sktan10]

Different car varies.

 

Just sold my slightly less than 6 mths old Hyundai Kona so sharing my experience.

 

Bought the car for $80K and sold it for $71.5K. New car when I was selling was $86K due to the car from being VES rebate to VES neutral.

 

Dep for the a new one would $8.2K/yr while mine is $7.2K/yr, this is taking into account VES.

 

Of course if you add the loan interest, the loss will be much more.

 

Try to sell to direct buyer, that’s what I did. Both sides benefit. I guess he doesn’t want to wait a month or two for a new car too.

Cant really get you?

You brought 80K.Sold 71.5k.Car use 6 months.

Dep 8.5k for 6 months.

If use one year assume 17k?

So is it right to say that new car sell within a year easily loss 20% of the selling price?

[RogerNg_185295]

wah only 6mths? what happen?

 

you were raving excitedly for the car. whats next?

Most probably kena big accident.