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COE supply to raise after 7-yr slide -ST 8.4.14
09-04-2014, 10:37 PM.
Post: #21
RE: COE supply to raise after 7-yr slide -ST 8.4.14
(09-04-2014, 10:10 PM)brattzz Wrote: for budget car-owners, try to get hyundai/kia cars, cos spare parts availability is good, 2-3 parts dealers in sg, and cheaper than japs & of cos european cars, and most workshops can do replacement/repairs workmanship easily..

NO, i am not a CAR dealer nor a parts dealer nor a car workshop!!

i drive a KIA picanto! Big Grin

KIA is not bad. I drove a KIA Soul in Korea and I really like it! It is a small hatchback yet has a spacey interior plus it does not feel underpowered. Too bad the sg dealer not bringing in this model.

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10-04-2014, 10:25 AM.
Post: #22
RE: COE supply to raise after 7-yr slide -ST 8.4.14
(09-04-2014, 09:59 PM)yawnyawn Wrote:
(09-04-2014, 07:47 PM)brattzz Wrote: Assuming car is still in good condition reaching 10yrs.
eg, vios car scrap value can get back $10k?
5 yrs extend COE = (60K COE) = $30K
Road Tax increase = $2000/yr * 5 yrs
Insurance increase = $2000/yr * 5 yrs
All in all, the costs are there... just calculate if worth it or not?

Note old cars has to be maintained and parts replacements are not cheap... :O

A 2005 vios when scrapped between 9-10 year should get back around 7k since OMV is roughly 12.5k.
5 year COE = PQP 74k / 2 = 37k

Without taking into account increased cost of insurance and road tax, to renew COE for 5 year will cost 44k, 37k cash and 7k sunk cost.

A 5 year old Vios on sgcarmart costs around 56k before discount. Taking into account the parf rebate, I will think getting a used car seems to be a better idea. Moreover, cash outlay is smaller as buyers can take out a 50% loan and excess cash can be put into good use.

Uncle Temp u like Italian cars? I think this 5 year old Fiat Pundo is value for money. OMV is higher(17k) than similarly ranged jap cars so parf rebate at 10 year is higher. Depreciation at 6k p.a. http://www.sgcarmart.com/used_cars/info....88&DL=2286

I'm not a car dealer btw.
Thank you for the maths. You are right if PQP doesn't drop to 10K to
20K, it's better to buy a 5 year old car.

But the problem is my Vios is very "funny".
2nd-hand car dealers keep on pasting leaflets on my wind screen to ask me to sell.
And i think the reasons are due to my " special minor car accidents".
My Vios has brand new back bumper/booth assembly, front bumper/bonnet assembly, aircon condenser/fan assembly, cooling liquid, starter, alternator, car body and paint quite beautiful, etc..
Plus i follow maintenance schedules quite well as i was/am a "born technician "throughout my life".
Plus, plus the car's body and paint and interiors are O. K. since day one the car has been parked in HDB sheltered carpark, most of the time. (Aka not working since 53).
Even when i am driving, i like to park the car in the "shade".
Never like to sit on very hot driving seat after the SUN does it's work.

I am a Fussy Pot isn't it?
But then everyone has his own idiosyncrasy, i believe.
What's yours?
Have you discovered it yet?
So is it worth to keep my Vios for another 5 years, when the time comes? Ten years seem not worth due to 50 % more for road tax.
i understand only 5 years COE extension is a recent concession by LTA.
Thanks for all the inputs.
=========== Signature ===========
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.

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10-04-2014, 10:40 AM.
Post: #23
RE: COE supply to raise after 7-yr slide -ST 8.4.14
It is not worth extending Coe for 5 or 10 yrs( calculated based on Coe 3 mth av)
You will also lose ur car parf value at the end of 5 or 10 yrs.
Either u buy a resale car or switch to public transport( which I am doing after scrapping my car at end of this yr)

(09-04-2014, 02:55 PM)Temperament Wrote: My Vios is going to be 10 years in AUG 2015. Can i extend my COE for another 5 years? Or compulsory to extend to 10 years? Is it worth to extend at all? Or just sell for people to extend the COE? How to do the maths? Help!

Buying a new car is definitely beyond my understanding-Mind Boggling lah!
Buying a 2nd-hand car might as well keep my own car by extending the COE; as advised by my motor mechanic.

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10-04-2014, 10:58 AM.
Post: #24
RE: COE supply to raise after 7-yr slide -ST 8.4.14
(10-04-2014, 10:25 AM)Temperament Wrote:
(09-04-2014, 09:59 PM)yawnyawn Wrote:
(09-04-2014, 07:47 PM)brattzz Wrote: Assuming car is still in good condition reaching 10yrs.
eg, vios car scrap value can get back $10k?
5 yrs extend COE = (60K COE) = $30K
Road Tax increase = $2000/yr * 5 yrs
Insurance increase = $2000/yr * 5 yrs
All in all, the costs are there... just calculate if worth it or not?

Note old cars has to be maintained and parts replacements are not cheap... :O

A 2005 vios when scrapped between 9-10 year should get back around 7k since OMV is roughly 12.5k.
5 year COE = PQP 74k / 2 = 37k

Without taking into account increased cost of insurance and road tax, to renew COE for 5 year will cost 44k, 37k cash and 7k sunk cost.

A 5 year old Vios on sgcarmart costs around 56k before discount. Taking into account the parf rebate, I will think getting a used car seems to be a better idea. Moreover, cash outlay is smaller as buyers can take out a 50% loan and excess cash can be put into good use.

Uncle Temp u like Italian cars? I think this 5 year old Fiat Pundo is value for money. OMV is higher(17k) than similarly ranged jap cars so parf rebate at 10 year is higher. Depreciation at 6k p.a. http://www.sgcarmart.com/used_cars/info....88&DL=2286

I'm not a car dealer btw.
Thank you for the maths. You are right if PQP doesn't drop to 10K to
20K, it's better to buy a 5 year old car.

But the problem is my Vios is very "funny".
2nd-hand car dealers keep on pasting leaflets on my wind screen to ask me to sell.
And i think the reasons are due to my " special minor car accidents".
My Vios has brand new back bumper/booth assembly, front bumper/bonnet assembly, aircon condenser/fan assembly, cooling liquid, starter, alternator, car body and paint quite beautiful, etc..
Plus i follow maintenance schedules quite well as i was/am a "born technician "throughout my life".
Plus, plus the car's body and paint and interiors are O. K. since day one the car has been parked in HDB sheltered carpark, most of the time. (Aka not working since 53).
Even when i am driving, i like to park the car in the "shade".
Never like to sit on very hot driving seat after the SUN does it's work.

I am a Fussy Pot isn't it?
But then everyone has his own idiosyncrasy, i believe.
What's yours?
Have you discovered it yet?
So is it worth to keep my Vios for another 5 years, when the time comes? Ten years seem not worth due to 50 % more for road tax.
i understand only 5 years COE extension is a recent concession by LTA.
Thanks for all the inputs.

Temp, I am silently confident that a special event will occur when we are nearing 2016. Lots of cars are going to be scrapped this year and next.
There might be a chance to get COE discount of say 20%?

Is this discount worth it for the price of convenience? Or can we make it work harder in the share market and wait for another new low for COE?

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10-04-2014, 10:59 AM.
Post: #25
RE: COE supply to raise after 7-yr slide -ST 8.4.14
(10-04-2014, 10:25 AM)Temperament Wrote:
(09-04-2014, 09:59 PM)yawnyawn Wrote:
(09-04-2014, 07:47 PM)brattzz Wrote: Assuming car is still in good condition reaching 10yrs.
eg, vios car scrap value can get back $10k?
5 yrs extend COE = (60K COE) = $30K
Road Tax increase = $2000/yr * 5 yrs
Insurance increase = $2000/yr * 5 yrs
All in all, the costs are there... just calculate if worth it or not?

Note old cars has to be maintained and parts replacements are not cheap... :O

A 2005 vios when scrapped between 9-10 year should get back around 7k since OMV is roughly 12.5k.
5 year COE = PQP 74k / 2 = 37k

Without taking into account increased cost of insurance and road tax, to renew COE for 5 year will cost 44k, 37k cash and 7k sunk cost.

A 5 year old Vios on sgcarmart costs around 56k before discount. Taking into account the parf rebate, I will think getting a used car seems to be a better idea. Moreover, cash outlay is smaller as buyers can take out a 50% loan and excess cash can be put into good use.

Uncle Temp u like Italian cars? I think this 5 year old Fiat Pundo is value for money. OMV is higher(17k) than similarly ranged jap cars so parf rebate at 10 year is higher. Depreciation at 6k p.a. http://www.sgcarmart.com/used_cars/info....88&DL=2286

I'm not a car dealer btw.
Thank you for the maths. You are right if PQP doesn't drop to 10K to
20K, it's better to buy a 5 year old car.

But the problem is my Vios is very "funny".
2nd-hand car dealers keep on pasting leaflets on my wind screen to ask me to sell.
And i think the reasons are due to my " special minor car accidents".
My Vios has brand new back bumper/booth assembly, front bumper/bonnet assembly, aircon condenser/fan assembly, cooling liquid, starter, alternator, car body and paint quite beautiful, etc..
Plus i follow maintenance schedules quite well as i was/am a "born technician "throughout my life".
Plus, plus the car's body and paint and interiors are O. K. since day one the car has been parked in HDB sheltered carpark, most of the time. (Aka not working since 53).
Even when i am driving, i like to park the car in the "shade".
Never like to sit on very hot driving seat after the SUN does it's work.

I am a Fussy Pot isn't it?
But then everyone has his own idiosyncrasy, i believe.
What's yours?
Have you discovered it yet?
So is it worth to keep my Vios for another 5 years, when the time comes? Ten years seem not worth due to 50 % more for road tax.
i understand only 5 years COE extension is a recent concession by LTA.
Thanks for all the inputs.

Financial wise, it is not worth it. However you may want to extend the usage since you said your car is well maintained. Anyway, these guys are car exporters and they usually offer a few Ks above scrap value to buy over your car to export to other countries. So your opportunity cost can be around 47k, 44+3!

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10-04-2014, 11:18 AM.
Post: #26
RE: COE supply to raise after 7-yr slide -ST 8.4.14
COE should just go up to $100-150k and kill off all the marginal drivers once and for all. Better yet, only cash and no loan for COE. Big Grin

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10-04-2014, 11:19 AM.
Post: #27
RE: COE supply to raise after 7-yr slide -ST 8.4.14
(10-04-2014, 11:18 AM)kichialo Wrote: COE should just go up to $100-150k and kill off all the marginal drivers once and for all. Better yet, only cash and no loan for COE. Big Grin

Cannot, all those speed cameras, red light cameras, and most importantly the ERP system needs to upkeep. Millions of revenue will be gone. :p

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10-04-2014, 11:40 AM.
Post: #28
RE: COE supply to raise after 7-yr slide -ST 8.4.14
(10-04-2014, 11:18 AM)kichialo Wrote: COE should just go up to $100-150k and kill off all the marginal drivers once and for all. Better yet, only cash and no loan for COE. Big Grin

I am willing to pay if it can make the traffic smooth.
Also increase the ERP to $20 pls...
=========== Signature ===========
The thing about karma, It always comes around and bite you when you least expected.

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10-04-2014, 11:43 AM.
Post: #29
RE: COE supply to raise after 7-yr slide -ST 8.4.14
(10-04-2014, 10:58 AM)Belg Wrote:
(10-04-2014, 10:25 AM)Temperament Wrote:
(09-04-2014, 09:59 PM)yawnyawn Wrote:
(09-04-2014, 07:47 PM)brattzz Wrote: Assuming car is still in good condition reaching 10yrs.
eg, vios car scrap value can get back $10k?
5 yrs extend COE = (60K COE) = $30K
Road Tax increase = $2000/yr * 5 yrs
Insurance increase = $2000/yr * 5 yrs
All in all, the costs are there... just calculate if worth it or not?

Note old cars has to be maintained and parts replacements are not cheap... :O

A 2005 vios when scrapped between 9-10 year should get back around 7k since OMV is roughly 12.5k.
5 year COE = PQP 74k / 2 = 37k

Without taking into account increased cost of insurance and road tax, to renew COE for 5 year will cost 44k, 37k cash and 7k sunk cost.

A 5 year old Vios on sgcarmart costs around 56k before discount. Taking into account the parf rebate, I will think getting a used car seems to be a better idea. Moreover, cash outlay is smaller as buyers can take out a 50% loan and excess cash can be put into good use.

Uncle Temp u like Italian cars? I think this 5 year old Fiat Pundo is value for money. OMV is higher(17k) than similarly ranged jap cars so parf rebate at 10 year is higher. Depreciation at 6k p.a. http://www.sgcarmart.com/used_cars/info....88&DL=2286

I'm not a car dealer btw.
Thank you for the maths. You are right if PQP doesn't drop to 10K to
20K, it's better to buy a 5 year old car.

But the problem is my Vios is very "funny".
2nd-hand car dealers keep on pasting leaflets on my wind screen to ask me to sell.
And i think the reasons are due to my " special minor car accidents".
My Vios has brand new back bumper/booth assembly, front bumper/bonnet assembly, aircon condenser/fan assembly, cooling liquid, starter, alternator, car body and paint quite beautiful, etc..
Plus i follow maintenance schedules quite well as i was/am a "born technician "throughout my life".
Plus, plus the car's body and paint and interiors are O. K. since day one the car has been parked in HDB sheltered carpark, most of the time. (Aka not working since 53).
Even when i am driving, i like to park the car in the "shade".
Never like to sit on very hot driving seat after the SUN does it's work.

I am a Fussy Pot isn't it?
But then everyone has his own idiosyncrasy, i believe.
What's yours?
Have you discovered it yet?
So is it worth to keep my Vios for another 5 years, when the time comes? Ten years seem not worth due to 50 % more for road tax.
i understand only 5 years COE extension is a recent concession by LTA.
Thanks for all the inputs.

Temp, I am silently confident that a special event will occur when we are nearing 2016. Lots of cars are going to be scrapped this year and next.
There might be a chance to get COE discount of say 20%?

Is this discount worth it for the price of convenience? Or can we make it work harder in the share market and wait for another new low for COE?
I also suspect near 2016 some special goodies w be given out, to make citizens a bit happier. Maybe a different category to seperate the foreigner and locals. Be patients n the Coe may go on sale. Usually every 4 yrs goodies w be handed out

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10-04-2014, 11:49 AM.
Post: #30
RE: COE supply to raise after 7-yr slide -ST 8.4.14
(10-04-2014, 11:18 AM)kichialo Wrote: COE should just go up to $100-150k and kill off all the marginal drivers once and for all. Better yet, only cash and no loan for COE. Big Grin

i doubt it will happen. i think even China or Russia Gs will consider drastic regulations or laws on their people.
=========== Signature ===========
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.

Find Reply


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