is this a good year to change car?

[Firmament]

Hi may i ask when COE bidding opens(whenever it actually opens) if the COE is lower then current does the price of the used cars come down? am considering a 10 years old wish or stream for wish i did a quick search on Sgcarmart the first one that came up is $49,800 with 10 year new COE so with cat b being 30k the wish is sort of selling at 19.8k right? so in theory lets say if the COE comes down to 20k for cat B will the car become 39.8k(for newly renewed car)

if buying a used car(10yr old) from a direct seller how does one goes about securing loan?

THanks.

Edited May 9, 2020 by Firmament

[Brass]

8 minutes ago, Firmament said:

Hi may i ask when COE bidding opens(whenever it actually opens) if the COE is lower then current does the price of the used cars come down? am considering a 10 years old wish or stream for wish i did a quick search on Sgcarmart the first one that came up is $49,800 with 10 year new COE so with cat b being 30k the wish is sort of selling at 19.8k right? so in theory lets say if the COE comes down to 20k for cat B will the car become 39.8k(for newly renewed car)

THanks.

The PQP would have to come down drastically before prices fall.

Hence, it would be in your best interests to wait till a few more biddings and lower average PQP assuming that COE softens significantly.

[Firmament]

1 hour ago, Brass said:

The PQP would have to come down drastically before prices fall.

Hence, it would be in your best interests to wait till a few more biddings and lower average PQP assuming that COE softens significantly.

renew 10 yrs also need count PQP? i tot its for 5 years. we are in a way alright at current COE level but no sense not waiting abit more even better value.. if its expected to come down quite abit?

Lets assume there is no such thing as COE what is the best value for $ 7 seaters you all would recommend? i am looking at stream or wish, we need a veh that can trasport 3 kids + helper and goods(we are in F&B) so tot a 7 seater will be ideal. i suggested van but well the lady does not want

Edited May 9, 2020 by Firmament

[Hamburger]

PQP is a variable figure that changes with every Coe result.

[Dannnn]

this yr is a good yr to buy car, not change car :S

[Brass]

3 hours ago, Firmament said:

renew 10 yrs also need count PQP? i tot its for 5 years. we are in a way alright at current COE level but no sense not waiting abit more even better value.. if its expected to come down quite abit?

Lets assume there is no such thing as COE what is the best value for $ 7 seaters you all would recommend? i am looking at stream or wish, we need a veh that can trasport 3 kids + helper and goods(we are in F&B) so tot a 7 seater will be ideal. i suggested van but well the lady does not want

If you buy a rebewed vehicle, the coe you need to pay be it 5 or 10 yrs will be based on PQP and not 1 bidding result

[Vinceng]

5 hours ago, Firmament said:

Hi may i ask when COE bidding opens(whenever it actually opens) if the COE is lower then current does the price of the used cars come down? am considering a 10 years old wish or stream for wish i did a quick search on Sgcarmart the first one that came up is $49,800 with 10 year new COE so with cat b being 30k the wish is sort of selling at 19.8k right? so in theory lets say if the COE comes down to 20k for cat B will the car become 39.8k(for newly renewed car)

if buying a used car(10yr old) from a direct seller how does one goes about securing loan?

THanks.

The one advertised at $49,800 is probably subject to the downpayment, which can range from $5K to $10K. This is an open secret within the trade to attract potential buyers with a low purchase price.

It's more prudent to buy a 2011 Toyota Wish at $22k (after some bargaining) and renew COE next year. If the COE drops to $20K, add the $22K purchase price, that's just $44K for a total of 11 years usage.  

https://www.sgcarmart.com/used_cars/info.php?ID=900745&DL=1000

Or consider the Proton Exora MPV at only $39K with 10 year COE. The interior is significantly bigger than the Honda Stream and Toyota Wish, and can sit 7 full sized adults with ease. Maintenance cost is also very reasonable with tonnes of spare parts in Malaysia.

https://www.sgcarmart.com/used_cars/info.php?ID=898455&DL=1000

Edited May 9, 2020 by Vinceng

[Firmament]

@Vincengwill consider thanks for ur advice, i saw its a direct seller how does one go about for loan etc?

Also you mentioned the low listed price is subjected to downpayment of 4 or 5k that means its 4 - 5k above the listed price? or just 10% of listed price?

Thanks

[Gary_seah]

Hi,

May I ask I am targeting a 2016 Toyota Wish selling at $66K with OMV $19,953. The depreciation listed down is $9,510 per year. I will also put 30% downpayment and the remainder in car loan for 6 years.

If I drive for 2 years down the road and decide to sell off the car, I am wondering if i will make a loss, considering after repaying the outstanding amount of car loan?

I can calculate the paper value of the car when I decide to sell, but the body value of the car will be hardest to determine which would make up the total amount that the used car dealer is willing to take.

 

[LeeWancai]

Hi all, I came across adverts from PIs pushing 10+10 promotions which is supposedly 10 year warranty and 10 year free servicing. Has anyone actually gotten cars from any of these PIs? I reckon this is not normal and am wondering if there's some unknown catch. Will be grateful if anyone could share. 

[Mkl22]

5 minutes ago, LeeWancai said:

Hi all, I came across adverts from PIs pushing 10+10 promotions which is supposedly 10 year warranty and 10 year free servicing. Has anyone actually gotten cars from any of these PIs? I reckon this is not normal and am wondering if there's some unknown catch. Will be grateful if anyone could share. 

10year warranty? Please........

[TeamAMG69]

1 hour ago, LeeWancai said:

Hi all, I came across adverts from PIs pushing 10+10 promotions which is supposedly 10 year warranty and 10 year free servicing. Has anyone actually gotten cars from any of these PIs? I reckon this is not normal and am wondering if there's some unknown catch. Will be grateful if anyone could share. 

which PI ? which workshop ?

which car / which model ?

got sauce material ?

[LeeWancai]

1 hour ago, TeamAMG69 said:

which PI ? which workshop ?

which car / which model ?

got sauce material ?

Sorry might be abit naive on my part - I'm not the most savvy carbuyer around so hope my post doesn't offend anyone.

It's an advert from Edmund Motor that I came across from Facebook. I'm interested in the Camry Hybrid 2.5 Ascent Sport that they carry, and have contacted their sales guy. Understand that the warranty and servicing cover will be from their in house workshop ASI.

[Discoburg]

Actually every year is a good year to change a new ride.

[Jamesc]

Recession will be deep and hard.

Even if car prices low, people losing jobs also dare not / no money / cannot get loan to buy car.

Car prices will keep going down and down.

Coronavirus: Leaked Pentagon memo warns pandemic could last until summer 2021, including likely second wave, reports say

A leaked Pentagon draft memo says that the US should expect for the coronavirus pandemic to last until the summer of 2021, according to those that have seen it.

The Department of Defence document, obtained by Task & Purpose, advises the that the military prepare for a “globally-persistent” Covid-19 environment with no effective vaccine until “at least the summer of 2021.