Car selection: Honda Accord 2001 or Toyota Altis 2007?

[Wind In My Hair]

Okay as someone who has actually driven on Singapore roads for over 10 years, I have to say that although the expressways are slow during peak hours, at other times you will have a problem NOT going over the 90 km/h limit if you have a good car. Depreciation is a very good reason to get a relatively new used car - the moment you buy a new car, you lose at least $10,000 even if you sell it the very next day. That's steep and I'd rather someone else pay for it.

Since someone else is paying for your car and the financials aren't a big issue, I suggest you go for the newer car if:

a. you don't want to look for a petrol station every two or three days
b. you don't want or don't know how to change a tyre
c. you like the awful plasticky smell that new cars have

I personally prefer old cars but you HAVE to test drive a used car to get a feel of how well it runs, and get a mechanic to do a thorough engine check because lay people like us miss a lot of wear and tear that can give problems later (or sooner!)

Have fun car shopping and welcome to Singapore!

[christay]

Nice practical info Christay.

Thanks for the kind words

With respect the post previous to this one, personally, I appreciate both new (read: modern) and old cars (more than 10 years old).

Due to the nature of my work, I need a run-around so I have a 2nd hand small japanese car which is amazingly economical. I bought it 2nd hand from someone who wanted to buy a brand new car after just 3 years and 25,000kms. The previous owner sold it to a dealer and I bought it at export value, i.e., paper plus body. The first owner's capital loss was 35k over 3 years. Mine will be 4.5k per year for the next 2 years. I will repeat this exercise when it reaches its 5th birthday by buying another 3 year old car. If you want to adopt this strategy, let me know and I will put you down the right path (tip: if buying from a dealer, buy from one that doesn't export directly, that will allow you to buy as close to the local exporters price as possible).

I also own a "hobby" car. I bought an extremely neglected 16 year old first generation "classic to be" japanese car (5 previous owners, 6 different colours!) and spent 9 months restoring it (I took my time ). It cost much less than the runaround but it gives me a lot of pleasure (not in the biblical sense!), something the everyday car can't do. This is my only vice so what the heck

I don't NEED the 2nd car but I love cars and this was one of the most cost effective ways of getting my "fix" in this country....the combined capital and annual costs of both cars are less than for a single modern japanese executive saloon.

Bottom line is, if the car is for utility alone and you are cost conscious, buy something you really NEED, not want. It's hard, but focus on the tangibles, and try not to be too emotional about the purchase, eg, forsake preferred colour, interior trim, etc. Focus on value and the car's condition.

Happy hunting!

[sundaymorningstaple]

I used to have a hobby car here as well. I bought it as a non-runner for around 1500, spent a year rebuilding in my back yard and rebuild the engine/transmission in my Amah's room (lived in Seletar Camp back then). This was in the late '80s (just before the COE started). Put around 1000 in it and my labour and sold it for 6K after driving it for 2 years (sold it after the COE started - think I only paid 1200? for the initial COE) Oh yeah.... It was a '66 Mini Cooper Mk1.

Now, I live in an HDB Flat and don't own any cars at all. And raised two kids without it as well. Still don't have a car to this day. Easier and cheaper to do without with the excellent transport systems here in Singapore (yeah can complain until you start comparing with other countries). M

My neighbour used to do something similar to what you are doing but at the other end of the spectrum. Buy a continental car with 2 years left on the coe (can buy them for a song usually) drive 'em & scrap 'em! Worked beautifully for him.

[christay]

Hi,

yes, you bring up a great point. The other end of the spectrum as you put it is also worth looking at. At this end of the spectrum, one would typically look for cars, more than 10 years old, with COEs expiring in a couple of years or so. For such cars, you are absolutely right, you can get lucky and get them cheap. Usually paper value plus a bit...if you look hard enough

These cars typically have COEs expiring in August 2011 ('cause COEs plummeted in 2001 in a freak event - so the whole world revalidated their cars for 18k, which was "dirt cheap" back then) which are currently worth less than 10k...

The only thing with these cars is that maintenance can be come a bit of an issue depending on what you buy, the condition its in, and the availability of spare parts...

I am now on the hunt for undervalued 2003 / 2004 cars for some clients. Typically the Seats / Renaults / etc of the world. Paper values reasonable and body values quite low to do poor global demand... more food for thought

[Superglide]

Dear all,

like some of the other posters here, I favour used over new anytime. ... bla bla bla...... bla bla bla.....

Hope this was useful.

Not really, that part of the discussion was already dealt and over with.

[sillingw]

We have a toyota Rav4 (Bought new) and a BMW 525 (bought 6 months old) , when selecting, I was touring the dealers and the expected depreciation was posted on the cars - this is only a guidline, and the first owner takes a considerable hit - so as above, I would reccomend a car at least a year old, but no more than 2. I use the expressways a lot and generally find the heavy traffic in rush hour and not to bad outside - that is compared to my previous address in the SF bay area

[Superglide]

When buying a BMW here (which in itself is already a joke), I agree it is more feasible to buy one second hand. The depreciation of that particular car is immense in the first year.

[cutiebutie]

When buying a BMW here (which in itself is already a joke), I agree it is more feasible to buy one second hand. The depreciation of that particular car is immense in the first year.

I wuld agree wit de BMW.

Superglide, is dat ur bike in de avatar? It is one hot bike.

[Superglide]

Yes, it is . Thank you!

[cutiebutie]

Vrooooooooooooooom

I just love big bikes - you have so much freedom riding them.