Search the Community

Current car COE expiring in Early 2013. If scrap, should take back about $13k. Aiming for 2014 - 2016 if COE goes down due to De-registration to buy new car. Hence, buying a new car now doesn't seem to be a good decision. For COE cars, the previous OMV rebates is lost right? Is my calculation correct? Seems like buying a pre-owned car with depreciation less than $9k will be a better option? Thanks in advance. If Renew COE (5yrs) No scrap value 5 yrs COE at ~$25k at 50% off (No loan, full cash) Increasing road tax every year Potentially high maintenance cost Estimate depreciation of about $5k (COE) + $3k (OMV) + $1k (potential maintenance) = $9k If buy Used <3 yrs old car : Pay depreciation for previous owner <5 yrs old car : Also pay depreciation for previous owner but maybe lesser <7 yrs old car : Could be high maintenance due to major wear & tear, but lesser depreciation >7 yrs old car : Could be even high maintenance due to major wear & tear, but least depreciation