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Need advice: cheapest car replacement route?

Jl255

By Jl255,
in General Car Discussion

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Ct3833

Ct3833

Supersonic
On 1/8/2024 at 9:12 PM, Mkl22 said:

I renewed my previous car in 4/2019 when the coe was due in 12/2022. 

2019 coe was so low, it is a no regret decision though, i renewed both on May, one was 7 months before it was due, the other one 2 months ahead. But with today's COE price, i dont think it is wise for TS to do that 

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Volvobrick

Volvobrick

Supersonic
On 1/8/2024 at 9:28 PM, Ct3833 said:

2019 coe was so low, it is a no regret decision though, i renewed both on May, one was 7 months before it was due, the other one 2 months ahead. But with today's COE price, i dont think it is wise for TS to do that 

I also renewed in 2019 one year ahead. 

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Mkl22

Mkl22

Twincharged
On 1/8/2024 at 9:28 PM, Ct3833 said:

2019 coe was so low, it is a no regret decision though, i renewed both on May, one was 7 months before it was due, the other one 2 months ahead. But with today's COE price, i dont think it is wise for TS to do that 

Yeah not wise to renew early now. I could have waited till 4/2020 as it was also a low, but who knew Covid descended on us all. 
 

with a larger quota come 2026, best to wait till then. But if he renew early then I would have less competition come my time to renew. 😂

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Tohto

Tohto

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On 1/8/2024 at 10:11 PM, Mkl22 said:

Yeah not wise to renew early now. I could have waited till 4/2020 as it was also a low, but who knew Covid descended on us all. 
 

with a larger quota come 2026, best to wait till then. But if he renew early then I would have less competition come my time to renew. 😂

Also hoping for 2026 higher quota as my car will be 10 yrs old by then.  Just worry scholar's prata their policy again and affected the higher quota expected.

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Mkl22

Mkl22

Twincharged
On 1/8/2024 at 10:34 PM, Tohto said:

Also hoping for 2026 higher quota as my car will be 10 yrs old by then.  Just worry scholar's prata their policy again and affected the higher quota expected.

See how they cut and fill. Or hopefully like in 2005 just fill only!!! 😂

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Beehive3783

Beehive3783

Turbocharged
On 1/8/2024 at 10:11 PM, Mkl22 said:

Yeah not wise to renew early now. I could have waited till 4/2020 as it was also a low, but who knew Covid descended on us all. 
 

with a larger quota come 2026, best to wait till then. But if he renew early then I would have less competition come my time to renew. 😂

why would there be competition? just pay PQP to renew and no quota on number of renewals :D 

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Ct3833

Ct3833

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On 1/8/2024 at 10:11 PM, Mkl22 said:

Yeah not wise to renew early now. I could have waited till 4/2020 as it was also a low, but who knew Covid descended on us all. 
 

with a larger quota come 2026, best to wait till then. But if he renew early then I would have less competition come my time to renew. 😂

Actually i have a wild thought now that should i sell my w212 which can last till 2029 and get an used w213(oldest possible, 2017?)  And renew it coe  when come 2026 or 27🤣

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Mkl22

Mkl22

Twincharged
On 1/9/2024 at 10:12 AM, Ct3833 said:

Actually i have a wild thought now that should i sell my w212 which can last till 2029 and get an used w213(oldest possible, 2017?)  And renew it coe  when come 2026 or 27🤣

got $$$ sure can , of course it will cost more. 🤣

2017 cause it will be the cheapest? if you look at depreciation it might be a better indicator. also a 2019/2020 reg one will bring you to the traditional low point of COE prices. but then the quantum is higher. but full cash should bother too much about quantum but rather the absolute depreciation.😁

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13177

13177

Hypersonic
On 1/9/2024 at 10:12 AM, Ct3833 said:

Actually i have a wild thought now that should i sell my w212 which can last till 2029 and get an used w213(oldest possible, 2017?)  And renew it coe  when come 2026 or 27🤣

What if when come 2026/27, coe is crazily high then how?

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Mkl22

Mkl22

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(edited)
On 1/9/2024 at 10:12 AM, Ct3833 said:

Actually i have a wild thought now that should i sell my w212 which can last till 2029 and get an used w213(oldest possible, 2017?)  And renew it coe  when come 2026 or 27🤣

Rough calculations.

i think your current w212 depreciates at 6.2k a year. Parf 27k and PQP around 35k in 2019.

Current market rate around 13.5k a year. So around 5-5.5years left. Which let say about 70k.

the w213 is 110k means you need to top up 40k. Assume coe is 70k come 2027. Then total outlay is 110k for the next 13.5years to drive. Which brings us to 8.2k depre. Still not too bad. 
if you want to match your current 6.2k then coe in 2027 needs to be around 45k. 
 

Edited by Mkl22
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Jamesc

Jamesc

Hypersonic
(edited)
On 1/8/2024 at 2:40 PM, Jl255 said:

agreed, that's how i see it too. for me, i think no need to be too greedy. if it hits a relatively good price, low enough, i will just take it. yes, it may go even lower in coming months, but it cld also go higher. so just be content and lock in at a price i am happy with. what do the rest think?

I feel what if never hit the low enough price you want?

Edited by Jamesc
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Jamesc

Jamesc

Hypersonic
On 1/9/2024 at 10:12 AM, Ct3833 said:

Actually i have a wild thought now that should i sell my w212 which can last till 2029 and get an used w213(oldest possible, 2017?)  And renew it coe  when come 2026 or 27🤣

What if the W213 has a lot more problems?

I heard a lot of stories about evil used car dealers selling turkeys 

disguised as cars!

You know the condition of your W212 and only sell if it needs a lot of work.

:D

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Jamesc

Jamesc

Hypersonic

Renew COE and you know the condition of your car.

Buy a used car and not all dealers are as honest as that nice jamesc

and you are taking a big risk.

Not so much a risk if you know how to look at a car and know its condition.

How many used car buyers are experts like us?

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LightningBolt1

LightningBolt1

1st Gear

 Well, if you're aiming for the cheapest option, renewing the COE for another 5 years might be your best bet. Buying a second-hand car can come with its own set of costs like maintenance and potential repairs, so it might not be as cost-effective in the long run. 

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RadX

RadX

Moderator
On 1/9/2024 at 11:28 AM, ccc888 said:

@Jamesc u finally say smthing useful lol

Totally agree😂😂

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ccc888

ccc888

4th Gear
On 1/9/2024 at 10:57 AM, Jamesc said:

Renew COE and you know the condition of your car.

Buy a used car and not all dealers are as honest as that nice jamesc

and you are taking a big risk.

Not so much a risk if you know how to look at a car and know its condition.

How many used car buyers are experts like us?

Even i myself also don’t trust the “future” condition of my own car whahaha

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Ct3833

Ct3833

Supersonic
On 1/9/2024 at 10:56 AM, Jamesc said:

What if the W213 has a lot more problems?

I heard a lot of stories about evil used car dealers selling turkeys 

disguised as cars!

You know the condition of your W212 and only sell if it needs a lot of work.

:D

Want to buy used car cannot scared of problems, be prepared to pay for repair, meantime, buy with eyes open. If scared, buy from Republic motor lor.

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