Singapore Expats Forum

Used cars in Singapore

Discuss anything relating to automotive here, from car leasing to buying a vehicle.

Sponsored by:
Image
AVIS Car Rental
PNGMK
Director
Director
Posts: 4849
Joined: Thu, 21 Mar 2013

Postby PNGMK » Tue, 23 Sep 2014 4:08 pm

sundaymorningstaple wrote:^^ This! :x


That and the cretinous envious arewipes who scratch your car with their keys as they walk past.

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 34260
Joined: Thu, 11 Nov 2004
Location: Still Fishing!
Contact:

Postby sundaymorningstaple » Tue, 23 Sep 2014 4:19 pm

I've been pretty lucky on that front. but the damned door dings! Grrrrr.

PNGMK
Director
Director
Posts: 4849
Joined: Thu, 21 Mar 2013

Re: Life of a Porsche

Postby PNGMK » Sat, 27 Sep 2014 9:45 pm

Emergency123 wrote:http://www.sgcarmart.com/used_cars/info.php?ID=426604

I have been shortlisting cars on sgcarmart and the above caught my eye - does it make sense to buy a 5 year old Porsche and renew the COE when it runs out ? I do know that Porsche aficionados are able to maintain and run decades old cars but I am not the hands on sort of car owner ( mechanically challenged :( ) , although I do take good care of my cars in terms of regular servicing / driving them carefully.
Would the local Porsche dealer/servicing centre take over servicing of the car ?

More thoughts later!


I have friends who have done this ... it's more sensible than buying a 5 yo Corolla and renewing the COE (not in terms of money spent but bank for the buck). The import duty rebate (aka PARF) would be quite high on this car though. Assuming the COE was around $20k and then PARF (100% duty) was around the 70k mark you are looking though at giving up roughly 10 + 35k in paper value as well as the new COE value (whatever it is - lets say 60k) - so your next ten year COE is actually;

PARF and COE rebate given up (maybe as high as $45K)
PQP currently 60k
Total cost for additonal 10 years $105 = approx 10k per year depreciation.

vs

Scrapping at 10 years:
PARF and COE rebate = 45k
Body value maybe $20k?
you're 65k ahead towards the next car ... in terms of 5 years ownership you paid $180k (say) less the 65k rebate/body value = $115k - the car will cost you around 12k per year depreciation for the remaining 5 years.

It really pays to get the paper value - ask them to show you the rebate value for the last day the COE is valid. That's all you need to know to work out what you're paying for the body of the car.

User avatar
Strong Eagle
Moderator
Moderator
Posts: 10408
Joined: Sat, 10 Jul 2004
Location: Off The Red Dot
Contact:

Re: Life of a Porsche

Postby Strong Eagle » Sat, 27 Sep 2014 11:02 pm

PNGMK wrote:
Emergency123 wrote:http://www.sgcarmart.com/used_cars/info.php?ID=426604

I have been shortlisting cars on sgcarmart and the above caught my eye - does it make sense to buy a 5 year old Porsche and renew the COE when it runs out ? I do know that Porsche aficionados are able to maintain and run decades old cars but I am not the hands on sort of car owner ( mechanically challenged :( ) , although I do take good care of my cars in terms of regular servicing / driving them carefully.
Would the local Porsche dealer/servicing centre take over servicing of the car ?

More thoughts later!


It's the PARF rebate that always kill these transactions. Why would an owner sell a nearly 10 year old car into the secondary used car market when scrapping it at 10 years brings 10's of thousands of dollars back into one's purse? The only way that is that the purchaser has to pay a price in excess of PARF rebate value.


I have friends who have done this ... it's more sensible than buying a 5 yo Corolla and renewing the COE (not in terms of money spent but bank for the buck). The import duty rebate (aka PARF) would be quite high on this car though. Assuming the COE was around $20k and then PARF (100% duty) was around the 70k mark you are looking though at giving up roughly 10 + 35k in paper value as well as the new COE value (whatever it is - lets say 60k) - so your next ten year COE is actually;

PARF and COE rebate given up (maybe as high as $45K)
PQP currently 60k
Total cost for additonal 10 years $105 = approx 10k per year depreciation.

vs

Scrapping at 10 years:
PARF and COE rebate = 45k
Body value maybe $20k?
you're 65k ahead towards the next car ... in terms of 5 years ownership you paid $180k (say) less the 65k rebate/body value = $115k - the car will cost you around 12k per year depreciation for the remaining 5 years.

It really pays to get the paper value - ask them to show you the rebate value for the last day the COE is valid. That's all you need to know to work out what you're paying for the body of the car.

PNGMK
Director
Director
Posts: 4849
Joined: Thu, 21 Mar 2013

Postby PNGMK » Sun, 28 Sep 2014 10:05 am

SE agreed. LTA tried a few years back to fix this by cutting the PARF rebate back (60% to 50%?) but it didn't work. If they allowed the PARF rebate to be carried forward into the 11th year and depreciate to 0% over the next 10 years there might be some hope.

I will scrap my forester at it's 10 year and get back around $15k in rebates according to the onemotoring calculator. There's won't be a single soul interested in paying just the paper value (15k) and the PQP ($60k) to keep it on the road for another 10 years. If the COE had been an expensive one (it's was only around $10k) I would have probably scraped at the 5th year.

PNGMK
Director
Director
Posts: 4849
Joined: Thu, 21 Mar 2013

Postby PNGMK » Sun, 19 Oct 2014 10:20 am

Emergency123 wrote:And a new car it is :D


What, pray tell (as JR8 would put it), did you purchase with your ill gotten gains (as I would put it)?

User avatar
zzm9980
Governor
Governor
Posts: 6837
Joined: Wed, 06 Jul 2011
Location: Once more unto the breach

Postby zzm9980 » Sun, 19 Oct 2014 10:34 pm

Emergency123 wrote:
PNGMK wrote:
Emergency123 wrote:And a new car it is :D


What, pray tell (as JR8 would put it), did you purchase with your ill gotten gains (as I would put it)?


http://s284.photobucket.com/user/rich87 ... 1.jpg.html

Should look like this :D with quite a few of the bells and whistles .will be good to be back in a car! the wife vetoed the preowned Porsche idea - thought it would be pretentious :roll: .Will take a long time to arrive in Singapore since I've ordered a manual.


P.S - how do you attach images in the forum ?


The easiest way is to copy the 'IMG' link you see on the right hand side of your photo bucket page.


Is that an x1? Can't tell the back end from the photo.

taxico
Director
Director
Posts: 3148
Joined: Sat, 10 May 2008
Location: Existential dilemma!

Postby taxico » Mon, 20 Oct 2014 8:44 pm

there is a 1980 mitsubishi lancer on sale for under 13k. COE valid until 2019 (mid i think).

if you're somewhat mechanically inclined, and don't mind ordering parts through the shops at waterloo or over the internet, that's a nice and cheap ride.

most auto shops in singapore will be happy to work on it - many of the old timer mechanics cut their teeth on cars in the 80s and 90s...

Image

Image

(car's not mine - i don't know the seller either)
Aut viam ad caelum inveniam aut faciam


  • Similar Topics
    Replies
    Views
    Last post

Return to “Cars & Motorcycles”

Who is online

Users browsing this forum: No registered users and 2 guests