is this a good year to change car?

[Vinceng]

Those who are holding on to cars registered up to 2017, with Cat A COE between $45K to over $70K, it is economically viable to sell, as your COE paper loss alone is astronomical, and your paper value is very high.

Let's take Singapore's best selling car as an example - a  4 1/2 year old 2015 Toyota Altis with a paper value of $47K and selling price of $59K. That's an annual dep of $8,700.

You can choose to get another brand new Altis at $95K with an annual dep of $8,500 which defeats the purpose of changing car, as the annual dep is almost similar and the new Altis has lower paper value which means no resale value.

Or you can choose to  top up a mere $13K after 4 1/2 yrs usage of your Altis, get a brand new Kia Cerato L at $72K (promo price), with an annual dep of $6,600.

 

[Apple-Tree]

  On 2/26/2020 at 3:40 AM, Sissypoo said:

Its February.

2nd month of the year.

So many things happened. not going to talk abt virus so many threads already.

Just wondering since this is a car forum, good year to change car? Does the uncertainty that lies ahead affects your car buying decision, PM Lee warns of impending recession, even risk of losing job in the event of the current global situation worsenin.. 

are we on a wait and see wad happens next attitude? do we see coe dropping? Wads the take for forum members here?

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Aiya. Want to buy, just buy la.  Then go sign on the dotted line, before sign, ask SE if you are signing on a Toilet Paper or PA.  SE sure say Guaranteed, but of course, Guaranteed COE is nowhere to be found on the contract hor. Want GCOE PAY more lor. You said Pay your Head hor.  

Wait. 

- This is the CCS Edition

 

Here is the, as accurate as possible, abstract of the end-2017 discussion:

I: Hi Alex(Not his/her real name), I am very concerned with the current Demand and Supply trend, as you see, I can only afford the Non-Guaranteed COE. Furthermore, my calculation shows you only have 8K of Gross Margin.

Alex: Don't worry Apple-tree, my management is current pushing to boost sales of CAT B car. You will get your car, but, of course, we can't put it in the contract. So, DON'T WORRY, you will get it. And BTW, if you listen to bunch of MyCarforum advice, it is very lightly you will never get your car one.  As long as the STI continue to climb, COE will climb. Period.

I: This is indeed very assuring Alex.  Thank you !! And here you go ..... <SIGNED>

Then wait for the dream car and live happily ever after....

 

 

 

I got retrenched 1 month AFTER I got the car.  Really.  Real Story hor.

Of course, I got the package and I found a job 10 days later. Though Jobstreet. MOM call me to check after I submitted my survey of my previous employer lor.  Got Package, I write sweet sweet story hor. MOM, want to know how I find job so fast - Through Friends ? Others Contacts?.  I said I send 4~5 resumes everyday lor.  22 resumes, 5 interviews, a surprise KPI.  I even got a $100 token pay rise, for fun. Because hor, got nice car must got nice jobs to match one lor.

Good luck bro !!

 

[1fast1]

  On 2/26/2020 at 10:53 AM, Apple-Tree said:

Aiya. Want to buy, just buy la.  Then go sign on the dotted line, before sign, ask SE if you are signing on a Toilet Paper or PA.  SE sure say Guaranteed, but of course, Guaranteed COE is nowhere to be found on the contract hor. Want GCOE PAY more lor. You said Pay your Head hor.  

Wait. 

- This is the CCS Edition

 

Here is the, as accurate as possible, abstract of the end-2017 discussion:

I: Hi Alex(Not his/her real name), I am very concerned with the current Demand and Supply trend, as you see, I can only afford the Non-Guaranteed COE. Furthermore, my calculation shows you only have 8K of Gross Margin.

Alex: Don't worry Apple-tree, my management is current pushing to boost sales of CAT B car. You will get your car, but, of course, we can't put it in the contract. So, DON'T WORRY, you will get it. And BTW, if you listen to bunch of MyCarforum advice, it is very lightly you will never get your car one.  As long as the STI continue to climb, COE will climb. Period.

I: This is indeed very assuring Alex.  Thank you !! And here you go ..... <SIGNED>

Then wait for the dream car and live happily ever after....

 

 

 

I got retrenched 1 month AFTER I got the car.  Really.  Real Story hor.

Of course, I got the package and I found a job 10 days later. Though Jobstreet. MOM call me to check after I submitted my survey of my previous employer lor.  Got Package, I write sweet sweet story hor. MOM, want to know how I find job so fast - Through Friends ? Others Contacts?.  I said I send 4~5 resumes everyday lor.  22 resumes, 5 interviews, a surprise KPI.  I even got a $100 token pay rise, for fun. Because hor, got nice car must got nice jobs to match one lor.

Good luck bro !!

 

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Most people go the other way, the nice job comes first then the nice car. 😂

[Lotr]

8k margin is intriguing plus it is a Cat B car

Edited February 26, 2020 by Lotr

[Weez911]

Change or buy only if you are very certain your job will be there during this probable recession. The job market tightening is always 3-6, up to 9 months after the economic hit.

If you are sure of your job or business viability, go ahead and accumulate assets during this time.

[Ody_2004]

To me if TS need to ask mean he is not ready.. not abt the economy.. 

[Soya]

Bros....why are we even dispensing advice?

TS hit & run liao

Recess time over

 

 

Edited February 27, 2020 by Soya

[RadX]

  On 2/27/2020 at 12:53 AM, Soya said:

Bros....why are we even dispensing advice?

TS hit & run liao

Recess time over

 

 

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u mean online lesson over?  If recess, they wun be posting...more like having fun outsai

[Soya]

  On 2/27/2020 at 12:54 AM, RadX said:

u mean online lesson over?  If recess, they wun be posting...more like having fun outsai

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Solli solli.....I mean naptime

 

[Mrmilktooth]

  On 2/26/2020 at 10:35 AM, Vinceng said:

Those who are holding on to cars registered up to 2017, with Cat A COE between $45K to over $70K, it is economically viable to sell, as your COE paper loss alone is astronomical, and your paper value is very high.

Let's take Singapore's best selling car as an example - a  4 1/2 year old 2015 Toyota Altis with a paper value of $47K and selling price of $59K. That's an annual dep of $8,700.

You can choose to get another brand new Altis at $95K with an annual dep of $8,500 which defeats the purpose of changing car, as the annual dep is almost similar and the new Altis has lower paper value which means no resale value.

Or you can choose to  top up a mere $13K after 4 1/2 yrs usage of your Altis, get a brand new Kia Cerato L at $72K (promo price), with an annual dep of $6,600.

 

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true point, but for me in a few months time will be loan free (5 year loan fully repaid)

so even through my yearly depreciation is almost 10K for a bnb car, just use it as it is...

with uncertainty ahead, it's better to be prudent as still have young kids to raise..

[Deawakened1]

How long does it take for LTA to credit parf rebate through giro?

I know on lta website it says within 14 days, but I have heard ppl mentioning that it usually comes in within 7days.

Anyone with experience?

[Vinceng]

  On 2/27/2020 at 1:24 AM, Mrmilktooth said:

true point, but for me in a few months time will be loan free (5 year loan fully repaid)

so even through my yearly depreciation is almost 10K for a bnb car, just use it as it is...

with uncertainty ahead, it's better to be prudent as still have young kids to raise..

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True. But in the scenario I gave, if you are willing to downgrade, topping up $13K gives you a 5 yr extension to drive the new car with lower maintance costs & fresh warranty coverage.

[Roh96]

  On 2/26/2020 at 10:35 AM, Vinceng said:

Those who are holding on to cars registered up to 2017, with Cat A COE between $45K to over $70K, it is economically viable to sell, as your COE paper loss alone is astronomical, and your paper value is very high.

Let's take Singapore's best selling car as an example - a  4 1/2 year old 2015 Toyota Altis with a paper value of $47K and selling price of $59K. That's an annual dep of $8,700.

You can choose to get another brand new Altis at $95K with an annual dep of $8,500 which defeats the purpose of changing car, as the annual dep is almost similar and the new Altis has lower paper value which means no resale value.

Or you can choose to  top up a mere $13K after 4 1/2 yrs usage of your Altis, get a brand new Kia Cerato L at $72K (promo price), with an annual dep of $6,600.

 

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Wow..so isn't it nice to drive a B&B car like Altis? 5 yrs later it still depreciate the same as brand a new car. Haha..

[Dilemma]

  On 2/26/2020 at 10:35 AM, Vinceng said:

Those who are holding on to cars registered up to 2017, with Cat A COE between $45K to over $70K, it is economically viable to sell, as your COE paper loss alone is astronomical, and your paper value is very high.

Let's take Singapore's best selling car as an example - a  4 1/2 year old 2015 Toyota Altis with a paper value of $47K and selling price of $59K. That's an annual dep of $8,700.

You can choose to get another brand new Altis at $95K with an annual dep of $8,500 which defeats the purpose of changing car, as the annual dep is almost similar and the new Altis has lower paper value which means no resale value.

Or you can choose to  top up a mere $13K after 4 1/2 yrs usage of your Altis, get a brand new Kia Cerato L at $72K (promo price), with an annual dep of $6,600.

 

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Dealers will quote Paper +few thousand. Can tell me which dealer can offer $12k above paper for a high coe car? 

[Lala81]

  On 2/27/2020 at 1:24 AM, Mrmilktooth said:

true point, but for me in a few months time will be loan free (5 year loan fully repaid)

so even through my yearly depreciation is almost 10K for a bnb car, just use it as it is...

with uncertainty ahead, it's better to be prudent as still have young kids to raise..

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yup. if not sure, just hold. Cos of the higher paper value, it's more easy to dispose of when needed. Unlikely u will get much more than paper value even if u trade in.

[Lufu]

there's always opportunity in a crisis or any situation. without Covid19, COE could run up further than 30K ish now especially with the smaller quota coming back into the pool.

so it all dependent on your personal financial situation.

[Vinceng]

In a nutshell, buying new now is more worth it than buying used. Compare the annual dep in sgcarmart.

[andrewyewkc]

  On 2/26/2020 at 8:22 AM, Cheefarn said:

Only in SG when one would get seriously shortchanged or at the loosing end for following gov orders... I guess not many remembers or choose not to rem the CNG fiasco... and diesel engines for pte vehicles to a certain deg... 

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Sorry for the OT. Sorry what is the CNG fiasco?