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car - what can I expect for S$2000

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Strong Eagle
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Postby Strong Eagle » Tue, 10 Aug 2010 8:43 am

x9200 wrote:
Strong Eagle wrote:Since COE is refundable on a straight line basis, I'll probably renew and runn the wheels off it.

So if I understand this correctly you can terminate it at any time and get back your COE on prorated basis? Hmmm, pretty interesting option. Lots of COE cars looking really good. I guess a good car mechanic is a must before buying anything of this type.


That is correct. You can also choose to renew for five years or ten. If you renew for five, the car must be scrapped at the end of five years. If ten, then can be renewed a second time.

So, a 1992 Civic has been renewed once in 2002, and can be renewed once again in 2012 and can be run until 2022 at which time it must be scrapped.

http://www.onemotoring.com.sg/publish/o ... bates.html

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Postby revhappy » Tue, 10 Aug 2010 12:22 pm

Strong Eagle wrote:
watching_a_sunset wrote:well unless you wouldnt mind buyin a 91' civic esi... which cost around 3 - 9 grand.. go to www.sgcarmart.com =]]... hope this helps :)


I bought an excellent 92 Civic for $3,000. Trouble is that COE has to be renewed in September of next year. I can already see it is going to happen. Wife has seriously adjusted to having a car.


Wow! you got an awesome deal there, SE. Considering the COE of a new car is what 30k now? With 2 yr COE left, the COE itself is worth 6k. And what is the PARF value of the car? Probably not much. Still an awesome deal.

You still have 2 years to go which is good. The tricky part is if you spend a lot on the upkeep of the car, it will be very hard to scrap it and you would want to just renew the COE and keep using it.

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Postby sundaymorningstaple » Tue, 10 Aug 2010 1:32 pm

If you want a good deal, find someone selling continental cars with a year or two max left on the coe. continental cars have a very low resale value (unless it's a bentley or roller) and can usually be picked up for a song (Around $1000 over remaining COE. Drive it till it rolls over and dies or the coe expires and then scrap it for metal value. Way cheaper than leasing or buying a new car.

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Postby Strong Eagle » Tue, 10 Aug 2010 6:45 pm

revhappy wrote:
Strong Eagle wrote:
watching_a_sunset wrote:well unless you wouldnt mind buyin a 91' civic esi... which cost around 3 - 9 grand.. go to www.sgcarmart.com =]]... hope this helps :)


I bought an excellent 92 Civic for $3,000. Trouble is that COE has to be renewed in September of next year. I can already see it is going to happen. Wife has seriously adjusted to having a car.


Wow! you got an awesome deal there, SE. Considering the COE of a new car is what 30k now? With 2 yr COE left, the COE itself is worth 6k. And what is the PARF value of the car? Probably not much. Still an awesome deal.

You still have 2 years to go which is good. The tricky part is if you spend a lot on the upkeep of the car, it will be very hard to scrap it and you would want to just renew the COE and keep using it.


Yes... essentially, the car was free. Last COE renewal was about $18,000, and at the latest QP, the car was a real steal... and I thank the people who sold it to me... very nice they were.

A real old car like this one is a bit of a toss up... this one has 362,000 on the odometer... and still runs great... did take a front end... struts, shocks, tie rods, and such... but otherwise typical Civic problems in an old car... mostly a leaky windshield... now repaired.

I'll probably renew the COE since it is a free car and if it does die, I get the COE rebate. OTOH, I like SMS idea of buying 'em up at $3K per year and junking them.


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