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Looking for old car with $3500-$4000

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hosanna21st36
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Looking for old car with $3500-$4000

Postby hosanna21st36 » Mon, 24 Jun 2013 11:28 pm

I am looking for a car (more than 10 years old car) which I can buy at the price and $3500 to $4000, with still have about more than 1 year coe. It seem to be very difficult to buy from market nowadays. Anyone with recommendation of where to get or lobang? :o

my email is hosanna21st36@gmail.com

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Postby Strong Eagle » Tue, 25 Jun 2013 12:51 am

You won't find anything that cheap with more than 1 or 2 years COE. You might find 5 or 6 months. For a year or two COE remaining, the car would need to have been registered in 2002 or 2003, expiring this year.

There are no bargains unless you happen to get lucky enough to find an expat leaving who absolutely must sell.

http://www.sgcarmart.com/used_cars/list ... =20&PRC=18

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Postby katbh » Tue, 25 Jun 2013 7:23 am

The price cars sell for is not based on the quality of the fixtures or the state of their engine, but purely for the time left on their COE. You can have the most beaten up honda that has been up and down the north-south with 300,000K on the speedo, and it will be sold for the same price as the spick and span honda that has only done 80,000. It is stock standard.
But may I suggest if you have a company, that look at buying a van (if it is just for two of you). These are much cheaper. You can get an old Renault Kangoo with about 1 year left, for about $9000 or a little less.
There are reasons why dealers charge what they do. There is no point in dealers going lower than the standard price. Although a car or vans COE may be ending (ie end of 10 year original licence to exist) they can still get good value for export. Or sometimes, it is worth getting the COE renewed - if there is a lowish 3 months of COE (from memory renewing COE, the price of the COE is an average of the previous 3 months COE).
At the moment second hand cars are more expensive than usual just because of the current high price of COE for new cars.
And it does not look like COEs will be going down any time soon.

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Postby Strong Eagle » Tue, 25 Jun 2013 7:43 am

katbh wrote:Or sometimes, it is worth getting the COE renewed - if there is a lowish 3 months of COE (from memory renewing COE, the price of the COE is an average of the previous 3 months COE).


The cost of a COE renewal is based upon the PQP (prevailing quota premium) which is the three month average of COE bidding exercises immediately preceding the time you renew the COE. Therefore, a COE for a ten year old car will essentially cost the same as a COE for a new car, something just short of $70,000.

There is an incentive to scrap a car at 10 years, and that is the partial refund of additional registration fees, as much as 65 percent for a 9 to 10 year old car, much more for less years. Therefore, this tends to drive the prices of nearly 10 year old cars higher as sellers can simply scrap for a lot more money than can typically be realized through a sale.


http://www.sgcarmart.com/news/writeup.php?AID=13

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Postby katbh » Tue, 25 Jun 2013 11:24 am

yes, so what usually happens is that the COE is surrendered back to the Govt, a refund is got of any unused portion was well as other tax etc. The car is then exported to third world countries ... like Australia (joke joke) for a reasonable price. So older cars are not necessarily as cheap as you would expect.
SGCarmart is a good web site to see what you can get. You can put in price restrictions and see what comes up - but I would say nothing would come up for less than $5000. All I found when I did a search were two vans with registration up to Feb 2014. Then they all seem to jump up to $8K+. The cheaper ones are the commercial vans and to buy these you need to have a company to register them to. I do not think G reg vans can be registered to an individual.

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Postby Strong Eagle » Tue, 25 Jun 2013 10:15 pm

Goods vehicles must be registered to a company. Also, goods vehicles are not subject to a PARF rebate when scrapped, so while the initial price may be lower, the net 10 year cost is about the same.

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Postby hosanna21st36 » Tue, 25 Jun 2013 11:37 pm

I am actually looking for a car which is about 17 to 18 years old which is due to 2nd renewal of COE. I have went to many car dealer and they do not sell or take in such car.

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Postby Strong Eagle » Wed, 26 Jun 2013 12:31 am

hosanna21st36 wrote:I am actually looking for a car which is about 17 to 18 years old which is due to 2nd renewal of COE. I have went to many car dealer and they do not sell or take in such car.


You are just not going to find such a car. You are talking about a car that was originally registered in 1994/1995. COE's rose to about $25,000 during 2004/2005 and only a handful of those cars were renewed. Besides, as I and others have noted the price of the car is more dependent upon the current COE costs than the car itself.

People are going to hang onto their used cars until the COE expires because of new loan regulations.

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Postby FeiWong » Wed, 03 Jul 2013 7:34 pm

hosanna21st36 wrote:I am actually looking for a car which is about 17 to 18 years old which is due to 2nd renewal of COE. I have went to many car dealer and they do not sell or take in such car.


Nope. u wont be able to find such car with such validity.

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Postby ecureilx » Wed, 03 Jul 2013 8:58 pm

Strong Eagle wrote:Goods vehicles must be registered to a company. Also, goods vehicles are not subject to a PARF rebate when scrapped, so while the initial price may be lower, the net 10 year cost is about the same.


years ago, when i was trying to sell my then employer's Hi-jet, after advertising, I got an offer of 2,000 .. I was like what ? for a van with 3 year COE left, only 2,000 ? The buyer insisted on coming over, and insisted on talking to my boss .. and my boss comes, and shakes hand and tells the guy, 2,500, deal closed.

When I kept wondering when the purchase price was 14,000 and COE then at 9,000 or so .. by boss told me, for a goods van, that is great .. you don't make money when you sell .. only recently I found out about the lack of rebates for scrapping Good van

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Postby PNGMK » Wed, 03 Jul 2013 10:31 pm

FeiWong wrote:
hosanna21st36 wrote:I am actually looking for a car which is about 17 to 18 years old which is due to 2nd renewal of COE. I have went to many car dealer and they do not sell or take in such car.


Nope. u wont be able to find such car with such validity.


You -might- find an old Landrover on a W plate with such validity. They have COE's that can be renewed endlessly and sell for body + COE paper. There is a pretty good second hand market in them as well. A W plate means 'work vehicle' and as such they have a low speed limit and passenger capacity. Check out SGCARMART for them.

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Postby katbh » Thu, 04 Jul 2013 7:40 am

You sure you do not mean 'G' reg? W reg is specifically for 'engineering plant vehicles' - they are things like tracked machines, road rollers, diggers etc

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Postby sundaymorningstaple » Thu, 04 Jul 2013 11:51 am

No, PNGMK is correct. Old land rovers generally have W plates as they were classified as having the ability to tow other vehicles, hence the Engineering type of plate. They almost all also have a tow hitch on the rear and possibly a winch on the front (but not all have the winch). You cannot by one as an individual but only via a company registration.

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Postby PNGMK » Thu, 04 Jul 2013 6:26 pm

sundaymorningstaple wrote:No, PNGMK is correct. Old land rovers generally have W plates as they were classified as having the ability to tow other vehicles, hence the Engineering type of plate. They almost all also have a tow hitch on the rear and possibly a winch on the front (but not all have the winch). You cannot by one as an individual but only via a company registration.


Are you sure about that? Plenty of people I know have old Landies as personal owners. A new W plate would definitely go via a company.

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Postby sundaymorningstaple » Thu, 04 Jul 2013 8:36 pm

I know when I lived in Seletar Airbase they could only be registered to companies/businesses (SP will do). I was told that it was the only way they could be registered. New ones are a different story, but I'm talking about the old military style indestructible ones that are 25+ years old. Not sure how the military ones were sold off though when SAF got rid of most of theirs a couple of years ago. They may well have changed the registration requirements for those. Most o the personal ownership people I knew (and Seletar Camp and a bunch back then) had $2 companies in order to register them.


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