Advice on purchasing COE cars (Z4)

[NeverLucky88]

Good day everyone,

I'm looking to purchase my first car. Have been driving the family car on and off but now i've decided to buy my own. Been driving for around 4 years now.

I'm currently looking at the BMW E89 Z4, which has a depre of roughly 11k/yr. I have no plans to have kids anytime in the near future and it's a car that i really like. The only concern i have is the road tax for the 6 cyl 23i. At the 15th yr, it amounts to an astounding 2.7k/yr. With that in mind, does it ever make sense to purchase a 2.5l COE car? Or do i just play w it for a few years then sell?

I have also looked at the 2.0l turbo variant (20i), but being a newer model, it costs way more than the 23i (around 14k/yr depre).

If it doesn't make sense to purchase a 2.5l COE car, what other options do i have? I have previously also shortlisted the 320i coupe (underpowered and heavy) and e250 coupe (hearsay FC is below average). Budget is around 80-85k. All suggestions all welcome, thanks in advance!

Edited January 24, 2022 by NeverLucky88

[Rickster]

I guess you're quite young still and without family commitments?

If I'm in your shoes, I'd suggest you go for your first choice and get what you really want. Primary reasons being:

1. You're looking at a used car - that means you'll probably be looking at a more linear depreciation. Meaning, you can sell the car after 6 months or a year without losing thru your pants.
2. You're young and no commitments, don't waste your life. YOLO

Caveat is that I'm assuming that you are able to responsibly, from a financial perspective, afford that car of your dreams.

Oh ya, remember to get SGcarmart warranty coverage or any other form of warranty that used car dealers can offer for that car! It'll save u more than a penny!

Edited January 24, 2022 by Rickster

[t0y0ta]

6 minutes ago, yishunite said:

If u think that roadtax is high wait till you see repair bills

Good to let the young ones learn through actual experience.

It is like walking thru fire, need to be burnt to know the pain

[Jamesc]

Don't listen to all the nonsense from old people.

Buy what you like and enjoy.

YOLO.

I became a dad young and never got to enjoy a 2 door spot car and attract all the ladies.

Edited January 24, 2022 by Jamesc

[Volvobrick]

29 minutes ago, t0y0ta said:

Good to let the young ones learn through actual experience.

It is like walking thru fire, need to be burnt to know the pain

Yeah better to 80k lesson fees then 800k in future. 

[Watwheels]

You are paying full cash or what?

Have you enquire any car insurance company for a quote to insure you and your coe car? Have to ask cos you are young and some of the cars you mentioned are 2-doors and bmw. Insurance charge premium for young drivers, premium for 2-door, premium for cars like bmw. If you add all these premiums you might easily hit a 5digit sum just for annual insurance.

There is a roadtax surcharge for coe cars. https://onemotoring.lta.gov.sg/content/onemotoring/home/owning/ongoing-car-costs/road-tax.html

Age of vehicle 
Annual road tax surcharge

More than 10 years old
10% of road tax

More than 11 years old
20% of road tax

More than 12 years old
30% of road tax

More than 13 years old
40% of road tax

More than 14 years old
50% of road tax

This is a roadtax calculator if you dunno how to calculate. https://www.sgcarmart.com/services/roadtax_calculator.php

So every year there will come a time you will have to pay, if you are not paying full cash... loan installment + insurance + roadtax. These are on top of running cost like petrol bill, parking and erp.

Cannot solely look at price tag or depreciation alone.

 

Just ask for a insurance quote first. One step at a time.

[t0y0ta]

47 minutes ago, NeverLucky88 said:

Good day everyone,

I'm looking to purchase my first car. Have been driving the family car on and off but now i've decided to buy my own. Been driving for around 4 years now.

I'm currently looking at the BMW E89 Z4, which has a depre of roughly 11k/yr. I have no plans to have kids anytime in the near future and it's a car that i really like. The only concern i have is the road tax for the 6 cyl 23i. At the 15th yr, it amounts to an astounding 2.7k/yr. With that in mind, does it ever make sense to purchase a 2.5l COE car? Or do i just play w it for a few years then sell?

I have also looked at the 2.0l turbo variant (20i), but being a newer model, it costs way more than the 23i (around 14k/yr depre).

If it doesn't make sense to purchase a 2.5l COE car, what other options do i have? I have previously also shortlisted the 320i coupe (underpowered and heavy) and e250 coupe (hearsay FC is below average). Budget is around 80-85k. All suggestions all welcome, thanks in advance!

Firstly identify a trusted workshop near your house with BMW experience, best if they work on Sundays also. And they let you bring your own parts

2ndly get some free towing service (with insurance etc etc)

Also get familiar with the BMW stockist in Singapore. Can also familiarize with buying parts online from overseas.

[Confusedboi]

In my opinion want to save money but still want 2 door get Kia koup or Mazda mx 5 or Honda integra dc5. They are not as fast as  and lack the badge appeal like conti  coupes but you will probably save more in the long run for repair and maintenance costs😆. NA engines less parts to go wrong than turbos in the long run. 

[Volvobrick]

10 minutes ago, Confusedboi said:

In my opinion want to save money but still want 2 door get Kia koup or Mazda mx 5 or Honda integra dc5. They are not as fast as  and lack the badge appeal like conti  coupes but you will probably save more in the long run for repair and maintenance costs😆. NA engines less parts to go wrong than turbos in the long run. 

COE cars got badge appeal meh? 

It's not an Italian exotic. 

Agree Jipun old cars will be more reliable than BMW. 

Edited January 24, 2022 by Volvobrick

[Confusedboi]

33 minutes ago, Volvobrick said:

COE cars got badge appeal meh? 

It's not an Italian exotic. 

Agree Jipun old cars will be more reliable than BMW. 

Got bmw badge can Liao😆. Some more Z4 is not that common 

[Rickster]

7 minutes ago, yishunite said:

All true but i guess we should at least warn him that major parts replacement is guaranteed for COE car within first few years... and for roadster it may be 4-5 digits

I mean what is #1 reason someone would sell their 11-12yo car whose COE they just renewed? 😅

True, but also there are many who wants to make a profit. 

If you look at the prices of most COE cars that they are selling, it's quite possible to make money as the depreciation of COE cars are often > than the forgone (parf rebate + COE)/10 or 5 years.

Edited January 24, 2022 by Rickster

[Rickster]

Just now, Confusedboi said:

Got bmw badge can Liao😆. Some more Z4 is not that common 

Depends on who u want to impress... for most young ladies/people who are not into cars (which happens to be a large %), they can't tell.

All the can tell is a BMW logo + 2 door = Expensive

[Watwheels]

This is Singapore, not like other countries where the yester years spork car become affordable.

If so easy to own everyone will be driving one.

[shrjun]

Get what you want . 10 years life is not the end of a car. However , it's not all roses with any car > 5 years old - there will be wear and tear items which need to be replaced - suspension / brake discs and rotors / piping / fuel pumps . etc etc

[ER-3682]

Thread Starter Forum Name "Neverlucky 88"..i think he can stay clear of over 10 years Z4...Problematic Car..if it is an Abuse Unit..for the 1st 10 Years.

[inlinesix]

This is a wrong place to ask opinion about BMW especially COE car.

Drive a used BMW is a journey that is fill with joy (when everything works) and sorrow (when everything don’t work).

It is important to get the car checked before purchase.

[PSP415]

NeverLucky88, like that how? In car ownership, it is good to always have some luck. 

😂🤞Dun kill me. 

Go for the Z4.

Road tax is the last thing that should bother you. Its incredmental tax is not something that can't be saved thru cutting down on purchasing some branded stuff, eating out less at restaurants or eating out at all, bread and water. Pls know that I am assuming alot of stuff here ya. I assume too that you are younger than me ( no surprise) and you have a good taste in cars. 

My first "sports" car was a Suzuki Swift GTi. Yours is Z4. So, yes, go for it. 👍

I only have one simple request, if you bought one.

Live long... drive responsibly, dun drink drive and please buy one already with signal stick and use it. Always keep ego at home and bring brain out. 

That's like alot of requests. Nvm. Ride safe and stay safe. 

Cheers 

[Fitvip]

1 hour ago, Jamesc said:

Don't listen to all the nonsense from old people.

Buy what you like and enjoy.

YOLO.

I became a dad young and never got to enjoy a 2 door spot car and attract all the ladies.

You did not tell all. You can afford any 2 door anytime but you are committed to your mil!