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Newer car or COE car?

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abbby
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Newer car or COE car?

Post by abbby » Fri, 06 Nov 2020 3:20 pm

I have a friend who is looking to buy a car but unsure whether it's better to get a 7-8 year old car or a COE car...which one makes more sense (if both are almost the same condition)?
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Re: Newer car or COE car?

Post by PNGMK » Sat, 07 Nov 2020 9:56 pm

7-8 year old. He can scrap it for the PARF rebate. COE only cars are hard to resell.
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abbby
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Re: Newer car or COE car?

Post by abbby » Sun, 08 Nov 2020 10:27 am

Sounds like a good idea, thanks for that!
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Re: Newer car or COE car?

Post by Lisafuller » Sat, 16 Jan 2021 3:11 pm

There is a saying that a car loses half its value the minute it drives off the dealership lot. While this figure is inaccurate what it means to emphasize is how quickly cars depreciate as soon as they are purchased, even if they have not been used for very long or very often. Particularly in Singapore, where cars are so expensive it’s always better to buy one that is lightly used for a fraction of the price of a new one. More often than not you can’t even tell the difference. And as PGNMK pointed out, when you scrap the car you do qualify for the PARF rebate.

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