Should I get a new car or renew COE?

[Mustank]

On 7/29/2024 at 4:06 PM, Ct3833 said:

Both my lao pok car have crossed the 15 years mark, still no regrets renewing their COEs. Except no pride lah, but who cares 😅

I took over my friend coe Toyota Altis 5 years Liao. The only thing spoiled that i change is the headlight bulb 

[Lala81]

On 7/29/2024 at 11:11 AM, Matoonia said:

My Q5 also expiring soon next Apr... 

It's very low mileage less than 80k now, drives well.. 

I would have renewed in a heartbeat if not for:

1. PARF $28k

2. Drinking Petrol ard 8km/l 

So my depre will be $12.8k based on current pqp. But then I'm also spending $450 per month on petrol + $1500 road tax + $3k a year service/maintenance = $9000. So annually $22k. 

Compared to maybe Cat A seal depre = $18k and annual cost = $23k 

3. 3rd option is to get another used parf car with 1-2 years left around $15 depre just to extend the runway, so annual costs similar to option 1. Not a lot of cars similar performance i'm considering Q50, Superb. 

my PARF is 32k. 

hardly any superbs etc on the market. FXT?

 

Edited July 29, 2024 by Lala81

[Matoonia]

On 7/29/2024 at 4:16 PM, Lala81 said:

my PARF is 32k. 

Wah rich man spotted hahaha 

[Mancypher]

On 7/29/2024 at 3:58 PM, Ct3833 said:

Some EVs have near zero PARF value,  that is my only chance to own a EV.......COE EV of course 😅

Zero parf EV "promo" ends 31 Dec 2024. They r part of the source of high COE at the moment.

Dunno that "promo" will extend next year or not.

[Mancypher]

On 7/29/2024 at 4:16 PM, Lala81 said:

my PARF is 32k. 

hardly any superbs etc on the market. FXT?

 

FXT is Forester XT?

Subbies have below 20k parf, incl XT. [maybe except Outback]

[Volvobrick]

On 7/29/2024 at 3:00 PM, Mkl22 said:

i already predicted this 10years ago when they started the hair brained idea of low low PARF. scholars at LTA are DUMB. not like the previous gen 80s to early 90s, where PARF rebates were so high such that it did not make sense to keep the car.

 

See lah! You are too smart to be in the silver service!

[Kklee]

On 7/29/2024 at 4:13 PM, Mustank said:

I took over my friend coe Toyota Altis 5 years Liao. The only thing spoiled that i change is the headlight bulb 

IMHO.
Altis depends on mileage.  Lower mileage still ok one. 

[Mustank]

On 7/29/2024 at 4:42 PM, Kklee said:

IMHO.
Altis depends on mileage.  Lower mileage still ok one. 

Now 200k Liao. Not too low not too high. Medium medium

[Lala81]

On 7/29/2024 at 4:25 PM, Matoonia said:

Wah rich man spotted hahaha 

Oh my mistake typo. My ARF is 32k so Haha no lah. my PARF at scrap is 16k only. Yours is Q5 leh. Definitely no match. And your PARF definitely very substantial to give up if u decide to change car say within next 2-3 years if COE drop.

I'm not renewing in Jan '25. but going to wait for COE drop.

Edited July 29, 2024 by Lala81

[Ct3833]

On 7/29/2024 at 4:46 PM, Mustank said:

Now 200k Liao. Not too low not too high. Medium medium

Replace bulb now about $1.50? last time 70cents can buy one already. My Altis  mileage now 320k km at 15+years, a few months ago repair transmission, now alive and kicking. 

[Unfazed]

On 7/29/2024 at 1:32 PM, Beehive3783 said:

This is a scam.

Upfront rebate: car dealers makan, sell you the car for same price as before.

Reduced PARF rebate: govt makan the difference

So really, car owners suck their own balls. And yes, with that pittance of PARF rebate, why not renew COE if the car is in good condition?  

Existing car owners can unite and teach ADs a "lesson", by renewing COEs. 😇

But how many will do that? 😁

How many are wise calculators? 🙄

Verbally, many keep saying their car condition no issue one? 👍

If no issue, then why mai renew leh? Maybe in reality, engine here chui there chui everywhere chui chui...just "tong" there only. 

Many cars of 7 years or older, this that mai do. Such moment once starts, vicious cycle lai liao. This is the COE life vs psychological effect.

I just had a casual conversation with a Kia Cerato owner in his 50s and his Cerato 01 year to go. Sang praises of his Cerato but tell him to renew, he can say bohua one. Say will scrap and buy another car left 3 years plus one at 50 to 60k price range. I didn't study the used car market. But I asked him then isn't it more "wu hua" to renew just 5 years, cost less yet drive more, since he said his car "actually no issue". End up, he just shake his head said, "no lar, me bo renew one lah". 🙃

Conclusion, face lah, face lah, or money issue. How many pocket inside willing to dig out 40 over k one shot, and yet drive COE car? Or how many pocket inside really got 40 over k. Installment better lah, installment. Can drive newer car some more hor. 

[Mustank]

On 7/29/2024 at 5:30 PM, Ct3833 said:

Replace bulb now about $1.50? last time 70cents can buy one already. My Altis  mileage now 320k km at 15+years, a few months ago repair transmission, now alive and kicking. 

I love the Altis so much. Save me so much money. That’s why willing to spend on maintenance

i change transmission oil at 20k interval. Also because it is not expensive. Oil $40. Labour $20. 

[Unfazed]

On 7/29/2024 at 2:50 PM, Mancypher said:

I want to renew. Current ride only 83k mileage, left 1.5yr. But... The idea of paying more for road tax and insurance..

More road tax yes, but how much more can it be. Increase in road tax don't think can cost arm and leg, unless cc jin high that type.

Insurance? At that age, how will insurance be high? Some insurance companies don't even want to offer comprehensive coverage, just 3rd party fire & theft aka 2nd party?

[Unfazed]

On 7/29/2024 at 3:00 PM, Mkl22 said:

i already predicted this 10years ago when they started the hair brained idea of low low PARF. scholars at LTA are DUMB. not like the previous gen 80s to early 90s, where PARF rebates were so high such that it did not make sense to keep the car.

 

Every time I see a situation of failure at their own success, me jin happy. Best is, it happens during GE. 😁

COE classification game now is a repeat cycle of Taxi in Cat A COE. Go see so many car dealers listing their ad of brand new cars for PHV, who cares if they have no walk-ins, right?

Those cars can rot at many roof tops for all one cares man even with no take-up rate. Hamtam COE 1st ya. 😉

[Unfazed]

On 7/29/2024 at 3:58 PM, Ct3833 said:

Some EVs have near zero PARF value,  that is my only chance to own a EV.......COE EV of course 😅

Think already can look at used ones liao, the listing is so long. 

[Unfazed]

On 7/29/2024 at 5:30 PM, Ct3833 said:

Replace bulb now about $1.50? last time 70cents can buy one already. My Altis  mileage now 320k km at 15+years, a few months ago repair transmission, now alive and kicking. 

Is that tranny 4AT? If so, that's pretty lasting? If CVT, I take my hats off you liao. I change ATF for my 4AT every 20k km instead of 40k km. Muah...also jin smooth once change, love it. 🙂

[Mkl22]

On 7/29/2024 at 5:30 PM, Ct3833 said:

Replace bulb now about $1.50? last time 70cents can buy one already. My Altis  mileage now 320k km at 15+years, a few months ago repair transmission, now alive and kicking. 

No ev savings can beat an altis for reliability. Crappy to drive if you wanna have some enjoyment. But for a daily point A to B. Nothing is cheaper. 

Edited July 29, 2024 by Mkl22

[Mkl22]

On 7/29/2024 at 3:58 PM, Ct3833 said:

Some EVs have near zero PARF value,  that is my only chance to own a EV.......COE EV of course 😅

Ev cannot renew la. No parf but also no parts and value. 15years later you see if BYD still got any parts for seal or atto3. They will tell you EOL! 
you renew and park in carpark ok. 

Edited July 29, 2024 by Mkl22