Should I get a new car or renew COE?

[Ct3833]

On 10/11/2024 at 10:11 PM, Volvobrick said:

Let you know next year.... 

then i let you know fist, both my cars 15+ years in 2 months time. 

[Count_duku]

On 10/9/2024 at 3:52 PM, Columbian78 said:

My existing insurer is AIG which had been in use from year 1 to 10. The new quotation seem to be 10-20% more expensive than prior years. Not sure if this is regular inflation, bad year for insurance or due to COE renewed car? Do you guys who renewed coe noticed any jump in premiums?

Lets say I am being quoted $XXXX for comprehensive (max NCD discount ++).

I did quick checks on etiqa, Singtel and Bdirect, all are 30-40% cheaper than aig. I just check the main std items in the policy

When AIG sends the renewal letter, the quote is damn high. If you call the hotline and ask for requote, they will give a discount. Dunno why don’t they just give the discount straight away, waste time to call and wait.

Edited October 11, 2024 by Count_duku

[Volvobrick]

On 10/12/2024 at 1:34 AM, Count_duku said:

When AIG sends the renewal letter, the quote is damn high. If you call the hotline and ask for requote, they will give a discount. Dunno why don’t they just give the discount straight away, waste time to call and wait.

I use a broker who compared and ended up very reasonable.

[Count_duku]

On 10/12/2024 at 9:43 AM, Volvobrick said:

I use a broker who compared and ended up very reasonable.

I’ve used Anika broker with my previous car. Then switched to AIG due to the tie-in with the current car dealer/workshop. Now the “new” car also 8 years old already and I use outside workshop due to better service and prices. Yeah, no point in sticking with AIG, next year will change.

[Ct3833]

On 10/11/2024 at 10:34 PM, Count_duku said:

When AIG sends the renewal letter, the quote is damn high. If you call the hotline and ask for requote, they will give a discount. Dunno why don’t they just give the discount straight away, waste time to call and wait.

Because there are people who will just pay up and move on, not everyone will call up to ask for disscount. 

[Beehive3783]

On 10/11/2024 at 10:09 PM, Ct3833 said:

I am told after 15 years there will be no more comprehensive coverage, is what I am told correct ? 

Yes... even at 13 and 14 years old, some insurers have declined to quote me comprehensive.

[Beehive3783]

On 10/12/2024 at 8:30 PM, Ct3833 said:

Because there are people who will just pay up and move on, not everyone will call up to ask for disscount. 

Very hard to describe this particular group of people.  

[107fan]

On 10/11/2024 at 8:19 AM, Ginyu said:

Based on your logic then makes me wonder why people still pay full cash for their car. Maybe they rather compound their dividends since no use for it.. i only know when I don’t have enough spare  cash then I have to take loan to renew it. 🤣

Pay full cash is peace of mind, live debt free lor. To each his own...

But if buy second hand, might have to pay additional topup premium if full cash, since dealer can't earn the loan interests. This one is really end up paying more...

[Jamesc]

Buy new car and pay less.

[Quotz]

Looking at the current COE trend, it seems very likely that the PQP will increase. If anyone is looking to renew COE, quickly renew it before it shoots up even more!

Our COE renewal promotion is still ongoing so don't miss out on it. Contact us for more info: https://bit.ly/coe-renewal-promo

[Throttle2]

Time flies.

My car has hit the 7th year mark and I’ll be looking for a replacement sometime next year.  
still undecided over which one.  Unemployed need to save money
 

 

[Tohto]

On 10/12/2024 at 9:43 AM, Volvobrick said:

I use a broker who compared and ended up very reasonable.

Yah.. my AIG always from a fix agent. Cheaper and any question can just ask him.

[Spidey10]

On 10/20/2024 at 9:28 AM, Throttle2 said:

Time flies.

My car has hit the 7th year mark and I’ll be looking for a replacement sometime next year.  
still undecided over which one.  Unemployed need to save money
 

 

continue driving lor....

mine is 8.5 yrs...and dunno what car to change to....EV is out of the question! and I dun want to pay an arm and a leg for it. Old banger like me no need a performance car....just plain vanilla to get from point a to b...

Edited October 21, 2024 by Spidey10

[inlinesix]

On 10/21/2024 at 8:44 AM, Spidey10 said:

continue driving lor....

mine is 8.5 yrs...and dunno what car to change to....EV is out of the question! and I dun want to pay an arm and a leg for it. Old banger like me no need a performance car....just plain vanilla to get from point a to b...

Also got CAT A EV. 
More like need to re-learn how to use buttonless car🤭

[Throttle2]

On 10/21/2024 at 8:44 AM, Spidey10 said:

continue driving lor....

mine is 8.5 yrs...and dunno what car to change to....EV is out of the question! and I dun want to pay an arm and a leg for it. Old banger like me no need a performance car....just plain vanilla to get from point a to b...

yes, continue driving is an option too.

Just looking at options to decide on what is most appropriate.

Also no EVs for me, as yet.....

[Gracees1905]

My car just entered the 8th year. Would u suggest to sell it now and keep the money for the next car when the COE drop or keep driving. 

If u asked me how many times a week I drove the car answer would be twice. Probably only use it during weekends.

[shinkong]

Mine is expiring in Jan2025, and I plan to renew for another 5 years. Willing to take the bet that COE should come down considerably in 2~3 years whereby it's probably worth to replace the COE car anyway

[Sdf4786k]

On 10/12/2024 at 2:45 PM, Count_duku said:

I’ve used Anika broker with my previous car. Then switched to AIG due to the tie-in with the current car dealer/workshop. Now the “new” car also 8 years old already and I use outside workshop due to better service and prices. Yeah, no point in sticking with AIG, next year will change.

Should use ChatGPT to source for you .. lol