Buying Car

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rams
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Buying Car

Post by rams » Mon, 29 Jun 2009 12:48 am

Guys,

I am planning to buy new car by mid July as by then will have my singapore licensce. However, COE seems to be going northwards. Should I hold on till it drops again?? Any other suggestion to reduce car costs will be much appreciated.

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hg
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Post by hg » Mon, 29 Jun 2009 1:28 pm

By used....that's what I am doing :-)

Jokes apart, I am new to Singapore but whatever research I did while finalizing my used car makes me think that COE should not really deter you from buying, once you are clear that you want a new one. After all whatever higher you put in as COE will translate into higher COE rebate later, isn't it? So if you pay, say 2000$ extra in COE and sell after 3 years, then its a loss of no more than 600 $ across 3 years. Isn't this correct?

Cold December Rain
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Post by Cold December Rain » Sat, 17 Oct 2009 12:03 am

The COE should not be the main consideration in getting a new car. As mentioned the rebate will kinda make up with the depreciation value. It's just that with new car you would have to wait till about 3 to 5 years to break even or not make a huge loss before changing to another car. If you're able to get a good second hand car - low mileage, good condition etc it may just be a better choice cause when you get tired with the car, you can easily change to another one...
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