Car depreciation rate

[Mancypher]

On 6/25/2024 at 10:05 AM, Inlinefour said:

one careful lady doctor owner

 

only for grocery shopping 

 

🤫🤫🤫

Sheltered parking only.

Daily washed, weekly polished, monthly coated.

Never been above 2krpm on the road. 🤣

[Arogab]

Chimanology......

[Sturtles]

On 6/24/2024 at 6:49 PM, jhnology said:

What is the average range of brand new Japanese car depreciation rate? Ppl always say car deprec highest in first 2 years?

1 year old: XX%

2 year old: XX%

3 year old: XX%

4 year old: XX%

5 year old: XX%

6 year old: XX%

7 year old: XX%

8 year old: XX%

9 year old: XX%

 

That's a very innocent way of looking at depreciation in SG

For a new car you buy today, eg. at Altis for 160k today @ 90k COE / OMV : 20k

in 2026, should COE fall to 10k, your Altis would be worth  - 80% x 90k + 75% of 20k + body ~ 5k = 92k (~35k pA depreciation )

Should COE spike to 200k, ( ~270k for new Altis),your 2 year old Altis could be worth with market discount, say 200k ( ~ negative 20k pA)

 

The highest probability lie somewhere between.

Hence it's ruinous to buy a car if one barely can afford, unless you monetise it by renting out, becoming a grab driver etc 

Edited June 25 by Sturtles

[Rayleigh]

When one decided to buy "that" car, depreciation is never part of the consideration. It will always be "I can still afford the payment with my salary". 

[Soya]

On 6/25/2024 at 10:48 AM, Beehive3783 said:

COE price and OMV will also affect the depreciation for the same car model registered in different months. So the most straightforward way is to use straight line depreciation over 10 years, with the following variables

1. do you want to include PARF rebate into the depreciation calculation?

2. do you want to include loan interest paid into the calculation?

Tink even old, white beard Harvard professors cannot unnerstan the highly complex system that our young LTA scholars from Harvard hv created....lol

 

[Beehive3783]

On 6/25/2024 at 11:51 AM, Soya said:

Tink even old, white beard Harvard professors cannot unnerstan the highly complex system that our young LTA scholars from Harvard hv created....lol

 

Let's not forget the formula they use to calculate road tax  

[Beehive3783]

On 6/25/2024 at 11:24 AM, Rayleigh said:

When one decided to buy "that" car, depreciation is never part of the consideration. It will always be "I can still afford the payment with my salary". 

Yes. The classic question:

"Monthly how much huh?"  

[Soya]

On 6/25/2024 at 1:33 PM, Beehive3783 said:

Let's not forget the formula they use to calculate road tax  

Tink Greta Thunberg will go on a hunger strike she finds out that our scholars decided that road tax for EVs are higher than pollutive dinosaur powered cars.....

 

[Beehive3783]

On 6/25/2024 at 3:23 PM, Soya said:

Tink Greta Thunberg will go on a hunger strike she finds out that our scholars decided that road tax for EVs are higher than pollutive dinosaur powered cars.....

 

What to do? LTA scholars are all dinosaurs mah  

Nah that's BS.. they just want to charge more to cover back revenue lost from petrol taxes  

[Soya]

On 6/25/2024 at 3:45 PM, Beehive3783 said:

What to do? LTA scholars are all dinosaurs mah  

Nah that's BS.. they just want to charge more to cover back revenue lost from petrol taxes  

Ya....Greenwashing at it's absolute bestest

 

[Sdf4786k]

On 6/24/2024 at 9:43 PM, Kklee said:

IMHO.
I think also have to see mileage. 

And also it’s period that was purchased and it’s appreciation not depreciation 

[Mkl22]

On 6/25/2024 at 1:33 PM, Beehive3783 said:

Let's not forget the formula they use to calculate road tax  

That one still ok. Try early turnover scheme. 🤮