Need advice: cheapest car replacement route?

[inlinesix]

On 3/28/2024 at 10:10 AM, Spidey10 said:

free transport for 10 yrs....well done!!

Free for 2 years🤭

[Sosaria]

On 3/28/2024 at 10:15 AM, Spidey10 said:

thats what i did as well in 2012 ....sold my wish and bought a 2nd hand Grandis....wish was sold higher than the price i bought...

drove grandis till scrap and then all the savings and "profits" from Jazz and Wish all used up to pay for my current ride....

Now in my 8th yr....another 2 yrs to crack my head what car to get or just renew...

Well, COE is unlikely to drop much in future, given the pent-up demand, no matter what relaxing or relieving actions taken by LTA.

Doesn't matter if you get a new car you don't have to worry COE drop so much in future that you make a great "loss" when re-selling

 

[-zion88-]

On 3/28/2024 at 10:15 AM, Spidey10 said:

thats what i did as well in 2012 ....sold my wish and bought a 2nd hand Grandis....wish was sold higher than the price i bought...

drove grandis till scrap and then all the savings and "profits" from Jazz and Wish all used up to pay for my current ride....

Now in my 8th yr....another 2 yrs to crack my head what car to get or just renew...

It's always the case, but at least there was a profit right. Likewise ppl who bought 1xxK COE, now already paper loss quite significantly. 

[Beehive3783]

On 3/28/2024 at 10:15 AM, Spidey10 said:

thats what i did as well in 2012 ....sold my wish and bought a 2nd hand Grandis....wish was sold higher than the price i bought...

drove grandis till scrap and then all the savings and "profits" from Jazz and Wish all used up to pay for my current ride....

Now in my 8th yr....another 2 yrs to crack my head what car to get or just renew...

I'm driving COE car now. Sold my 6 year old (bought new) PARF car in 2018 and got this one with 10 year renewed COE. Even though the depreciation has "appreciated" since then (from 6K depre till now on SGCM it's listed at 12k-13k depre), it is still not enough of a push factor for me to change car now because I have done a lot of wear and tear replacement the past years and these should be enough for me to drive till end of COE, unless something major like gearbox or engine overhaul is required.

1. PARF car - for cheaper price than what my current car could fetch, the remaining lifespan is shorter than my current COE car, i.e. high depreciation. For those with same remaining lifespan as current car, the depreciation is about 2k higher than current car for a 1.6L NA korean sedan.

2. COE car - for the same "depreciation", i can only get a smaller car of the same age, not really worth changing at all.

So I can't convince myself to change car at this time. Really not worth it unless you are driving a high paper value PARF car looking to downgrade to a COE car or something. 

[Beehive3783]

On 3/28/2024 at 1:01 PM, -zion88- said:

It's always the case, but at least there was a profit right. Likewise ppl who bought 1xxK COE, now already paper loss quite significantly. 

They can deregister within X number of years to get back up to 75% of ARF paid + remaining COE rebate.  

A lot of cars were deregistered early in the past when high COE prices suddenly crashed. 

Edited March 28 by Beehive3783

[Spidey10]

On 3/28/2024 at 1:01 PM, -zion88- said:

It's always the case, but at least there was a profit right. Likewise ppl who bought 1xxK COE, now already paper loss quite significantly. 

indeed! 

[Spidey10]

On 3/28/2024 at 1:36 PM, Beehive3783 said:

I'm driving COE car now. Sold my 6 year old (bought new) PARF car in 2018 and got this one with 10 year renewed COE. Even though the depreciation has "appreciated" since then (from 6K depre till now on SGCM it's listed at 12k-13k depre), it is still not enough of a push factor for me to change car now because I have done a lot of wear and tear replacement the past years and these should be enough for me to drive till end of COE, unless something major like gearbox or engine overhaul is required.

1. PARF car - for cheaper price than what my current car could fetch, the remaining lifespan is shorter than my current COE car, i.e. high depreciation. For those with same remaining lifespan as current car, the depreciation is about 2k higher than current car for a 1.6L NA korean sedan.

2. COE car - for the same "depreciation", i can only get a smaller car of the same age, not really worth changing at all.

So I can't convince myself to change car at this time. Really not worth it unless you are driving a high paper value PARF car looking to downgrade to a COE car or something. 

will need to revisit this tread again in 2 yrs time....to see if changing to a new car vs used car vs renewal for 5 yrs vs renewal for 10 yrs....

[-zion88-]

On 3/28/2024 at 1:37 PM, Beehive3783 said:

They can deregister within X number of years to get back up to 75% of ARF paid + remaining COE rebate.  

A lot of cars were deregistered early in the past when high COE prices suddenly crashed. 

that will be depending on how much DP, loan is involved. I am sure there are those on full 10 years loan 

[Sdf4786k]

On 3/28/2024 at 12:43 PM, Sosaria said:

Well, COE is unlikely to drop much in future, given the pent-up demand, no matter what relaxing or relieving actions taken by LTA.

Doesn't matter if you get a new car you don't have to worry COE drop so much in future that you make a great "loss" when re-selling

 

China economy not that great.. this year going to be a bumpy ride.. probably buy when it drop from current by 20k should be good to go.. followed by low ball AD a bit and u should have a little better deal 

the headache then is to see whether to get cat A or cat B ride when that happens . But don’t worry there will be a lot of people who still wait for lowered than low CoE canon fairy.

They will go office to lamenting on which car to buy .. by then you be alerted to squeeze the trigger when that happens 

Edited March 28 by Sdf4786k

[13177]

On 3/28/2024 at 12:43 PM, Sosaria said:

Well, COE is unlikely to drop much in future, given the pent-up demand, no matter what relaxing or relieving actions taken by LTA.

Doesn't matter if you get a new car you don't have to worry COE drop so much in future that you make a great "loss" when re-selling

 

Coe how to drop much when tons of people are waiting to change their cars?! Tons of people of their car at least 6 years old and above.

[Sosaria]

On 3/29/2024 at 9:49 AM, 13177 said:

Coe how to drop much when tons of people are waiting to change their cars?! Tons of people of their car at least 6 years old and above.

Correct, a friend was telling me if buy car now at high COE, in future if COE drops, then trade-in or re-sell value will plunge as well, resulting in huge loss, i.e. buy high but sell low. But my opinion is same as yours, COE how to drop??  It can only stay plus minus the current level or go even higher!