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Buy or Rent Car?

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andbaynard
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Buy or Rent Car?

Post by andbaynard » Thu, 27 Mar 2008 1:47 am

I am so confused. COE, PARF, OPC cars.......what ever that means. I have been here 2 years and been provided a company leased car. I am changing jobs so here 5 more years and new employer will provide car allowance of ~1,000 sgd per month for me to use however.

To me I should find a cheap car with COE expiring in 2012 and buy it. Would this not be cheaper in long run? I know I should consider road tax, and maintenance if buying a car. But the part I need help with is all the COE, PARF rebate items. Would someone (dealer, etc) buy the car from me just before the COE ends and get the rebates? How best to calculate what makes the most financially smart thing to do beside taking public transport.

Any advise on what to do?

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sundaymorningstaple
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Post by sundaymorningstaple » Thu, 27 Mar 2008 2:04 pm

There used to be a few threads on here that dealt exactly with that scenario. Use the search function to see what you can come up with. (I've got no time at the moment or I'd give you a had).
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

stylezmind
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Post by stylezmind » Thu, 07 Aug 2008 6:58 pm

Firstly it all depends. Leasing a car will actually be more expensive. If you planning to pay by cash, den its cool.If you are taking a loan. Try to go for older cars, as they have shorter break even periods.

Break Even- No cash top up needed in the future for your full settlement with banks.
Last edited by stylezmind on Thu, 07 Aug 2008 7:07 pm, edited 1 time in total.

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Saint
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Post by Saint » Thu, 07 Aug 2008 7:02 pm

Now let me guess what you do for a living :-k :roll:

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