ADVICE NEEDED: BUYING A CAR IN SG FROM THE EXPAT PERSPECTIVE

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TexasExpat
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ADVICE NEEDED: BUYING A CAR IN SG FROM THE EXPAT PERSPECTIVE

Post by TexasExpat » Tue, 23 May 2006 12:24 pm

Hello guys and gals,

I did a search on the forum but was unable to come up with any threads that gave an in-depth primer on first-time car buying/ownership in Singapore. I was hoping some of you could speak from experience and help me out with some advice.

Basically, I'm just trying to avoid any mistakes that might result in unneccessary financial loss, especially that related to only owning the car for a short time, say 1 or 2 years. Just looking for some "real world" experience and advice.

I'm familiar with the basics (COE, PARF, road tax, etc.) but was looking more for advice on things like:
1) Buy new or slightly used?
2) Disposal options after 1 or 2 years of ownership
3) Unseen financial costs/misteps
4) Where to find the best deals?
5) Are parallel importers a good bargain or unecessary risk?

Any and all advice is welcome and much appreciated! Thanks in advance!

Marc

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BearHug
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Post by BearHug » Fri, 26 May 2006 4:46 pm

I'm familiar with the basics (COE, PARF, road tax, etc.) but was looking more for advice on things like:
1) Buy new or slightly used?
2) Disposal options after 1 or 2 years of ownership
3) Unseen financial costs/misteps
4) Where to find the best deals?
5) Are parallel importers a good bargain or unecessary risk?

Any and all advice is welcome and much appreciated! Thanks in advance!

1) For a year or 2, buy a slightly used car. On the financial side, a 2 yr old car is ideal since in spore, car depreciation is much higher in the first 2 years. However, if u r buying new and small car(1.6L or below), u may wanna do some calculation on the scrap value and determine its financial loss after 2 yrs.

2) Check with the place you are buying from if they do buy back the car at a later stage. Some car agencies provide such service since you r an expat. Another option is to sell the car yrself by placing an advert in the paper. u will fetch a better price if u sell to a direct buyer.

3) In your case, do not buy continental or European made car. Go for Japanese model esp Honda and Toyota. They have better resale value here and depreciation value is not as steep as its European counterparts. Easier to find buyers too when time to go. And if u r financially well, buy them cash so that u do not make further losses from the loan interest

4) I know a place but cant recall the name now. will check for u. it is located exactly across Newton Food centre along Bukit Timah Road. Besides the showroom is SHELL petrol station. go there n ask around. I saw some fancy cars there too.

5) Parallel importers are a good bargain with its own risk. Since its appearance, car prices have deflate significantly. It also introduce some of the models that are not available at authorized distributors. You can have more choices with them. In order to minimize the risk, go for established parallel importers. Those that have its own showrooms and service centres. Ask them if they have after sales services in place.

My 1 cents worth.

If u need more clarification, here are some useful websites:

http://www.aas.com.sg

http://www.lta.gov.sg/home/home_links.htm
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Thanks

Post by TexasExpat » Fri, 26 May 2006 4:56 pm

Thanks Bearhug...your reply and advice are greatly appreciated. Please let me know the name of the second hand dealership you referred to if you're able to find it.

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Post by jpatokal » Sat, 27 May 2006 12:44 pm

If you only need the car for a year or two, you'd probably do well to look into leasing instead of buying. No COE, no inspections, no hassle, and you can change the car to a different model or end the lease very easily.
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Post by micknlea » Sun, 28 May 2006 12:13 am

jpatokal wrote:If you only need the car for a year or two, you'd probably do well to look into leasing instead of buying. No COE, no inspections, no hassle, and you can change the car to a different model or end the lease very easily.
Any ideas of where to go for this??? Am looking for a good lease company, but having a few troubles along the way...does anyone have any recommendations?

Cheers! :)
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Buying a car in Singapore

Post by Sentosa » Wed, 07 Jun 2006 11:44 pm

Just bought a car. I'm in a similar situation to you but looking at at 3 to 5 year time horizon. I agree with everything that Bearhug provided in terms of advice. He's dead on.

The Moderators advice is also correct. If you are looking at only a year or two, it's probably best to lease a car because your losses from registering, road tax, (possible car loan), and selling the car will be much greater than if you simple rented for those two years. If you stay over three years, than it's probably best to buy a used car.

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Car rental....

Post by Luz » Thu, 08 Jun 2006 7:33 am

Yes, my friend just found a car to rent for $500 per month...through an owner. ...and all she has to pay for is the gas! There are people with cars they're not driving...and would rather rent/lease if possible. ...ask around...check the boards or newspapers. Ask the people on this forum. :)
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Post by taikoo » Fri, 09 Jun 2006 3:24 pm

Luz, what you mentioned is really interesting....I am relocating to SP soon...is it possible to give some more details on how your friend went about finding the car owner, who lent her the car for SGD500pm?

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Re: Car rental....

Post by jivintan » Fri, 09 Jun 2006 4:45 pm

Luz wrote:Yes, my friend just found a car to rent for $500 per month...through an owner. ...and all she has to pay for is the gas! There are people with cars they're not driving...and would rather rent/lease if possible. ...ask around...check the boards or newspapers. Ask the people on this forum. :)
Do be careful if you are renting from owners directly. (see http://img140.imageshack.us/img140/7905 ... tal3lz.jpg) If you want to rent throughout your stay in Singapore, you have to rent from a car rental company. Else, rent it at your own risk.

Thanks and best regards
Jivin Tan
www.gal.com.sg
+65 63865295

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BearHug
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Post by BearHug » Wed, 28 Jun 2006 5:51 pm

Bought the car already mate???


The name is Autobahn. near Newton Circus Food Centre.

Sorry for the very late reply.
:oops:
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