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car for one year

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jimmccb
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car for one year

Postby jimmccb » Sat, 28 Sep 2013 10:55 am

I need a car for one year do not want to spend a lot of money does someone have a solution. looking for used economy type

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Postby sundaymorningstaple » Sat, 28 Sep 2013 12:12 pm

Find a 9 year old continental car and drive it till the wheels fall off and the COE & ARP expire then scrap it.

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Postby Strong Eagle » Sun, 29 Sep 2013 1:35 am

SMS is right... buy a car with one year or so of COE - you won't find anything for less than $15,000 though.

http://www.sgcarmart.com/used_cars/list ... G=20&VEH=2

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Postby jimmccb » Tue, 01 Oct 2013 12:44 am

first thank you for the advice , but mind blowing 15K for old car good for 1 year . can anyone help on low cost leasing , can i get a leasd car for 500 per month ?

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Postby Strong Eagle » Tue, 01 Oct 2013 4:53 am

jimmccb wrote:first thank you for the advice , but mind blowing 15K for old car good for 1 year . can anyone help on low cost leasing , can i get a leasd car for 500 per month ?


No. Lease cars also pay COE. Given that annualized COE costs are above $7000, I'd expect the minimum lease payment for a small car will be well above $1200 per month.

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Postby PNGMK » Tue, 01 Oct 2013 8:42 am

jimmccb wrote:first thank you for the advice , but mind blowing 15K for old car good for 1 year . can anyone help on low cost leasing , can i get a leasd car for 500 per month ?


About the cheapest you'll find is probably $1700 per month I'd guess.... have a look in the classifieds and ring the no name (i..e small) car rental guys.

To give you an idea how hard this business is now the guy (Mr Leong) I used to use for car rentals (cheap ones) only does daily rentals now - $70 per day for an almost dead car. That's $2100 per month but he won't rent by the month anymore.

Note - commercials (small trucks and vans) maybe slightly cheaper.

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Postby jimmccb » Tue, 01 Oct 2013 2:10 pm

thank you all for your help, guess i will give up on this idea and go back to trains, bus, cab and my feet

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Postby PNGMK » Tue, 01 Oct 2013 2:19 pm

jimmccb wrote:thank you all for your help, guess i will give up on this idea and go back to trains, bus, cab and my feet


Learn to ride a motorbike. My bike costs about $50 a month.

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Postby mdaspro » Wed, 02 Oct 2013 1:21 am

hi jimmccb, before you scrap your idea, you can find out this kind of cars in resale market:

Model: small size hatchback car
car price: 15K approx, type : PARF car
COE remaining 1 year.
Downpayment: 7K approx
Road tax: $500 approx
EMI: $450 approx
Deregistration value after 1 year: 6K approx (this amount you will get back, just 1K less than downpayment)
So, finally you are paying $450 per month (EMI) + 1K + $500 road tax = almost $550 per month.

So, bottom line is: with $550 per month spending you can have a small car. I think it will fit your budget.
Think about this. Anybody please tell me if there is anything wrong in this calc.

PS: I am not a car agent :D , I am also exploring & thinking to buy similar one :D

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Postby PNGMK » Wed, 02 Oct 2013 7:19 am

mdaspro wrote:hi jimmccb, before you scrap your idea, you can find out this kind of cars in resale market:

Model: small size hatchback car
car price: 15K approx, type : PARF car
COE remaining 1 year.
Downpayment: 7K approx
Road tax: $500 approx
EMI: $450 approx
Deregistration value after 1 year: 6K approx (this amount you will get back, just 1K less than downpayment)
So, finally you are paying $450 per month (EMI) + 1K + $500 road tax = almost $550 per month.

So, bottom line is: with $550 per month spending you can have a small car. I think it will fit your budget.
Think about this. Anybody please tell me if there is anything wrong in this calc.

PS: I am not a car agent :D , I am also exploring & thinking to buy similar one :D


Where's your insurance? That's $1200 per year minimum if you don't have a NCD, even for 3rd party only! Fuel is a min $200 a month IME. ERP another $50. We're up to $900.... I think the OP is shit outta luck.

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Postby sundaymorningstaple » Wed, 02 Oct 2013 8:35 am

Also, depending on where he is working, parking fees as well. 9 year old car? Add servicing and possible repairs. Need tires? You will be hard pressed to it for less than 1K/mo all in.

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Postby katbh » Wed, 02 Oct 2013 8:40 am

Set up a $1 company and then buy my renault Kangoo for $8,000. Has COE until July 2015. But .... no air con.

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Postby PNGMK » Wed, 02 Oct 2013 10:38 am

katbh wrote:Set up a $1 company and then buy my renault Kangoo for $8,000. Has COE until July 2015. But .... no air con.


I've considered your Kangoo!

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Postby mdaspro » Wed, 02 Oct 2013 5:36 pm

PNGMK wrote:
mdaspro wrote:hi jimmccb, before you scrap your idea, you can find out this kind of cars in resale market:

Model: small size hatchback car
car price: 15K approx, type : PARF car
COE remaining 1 year.
Downpayment: 7K approx
Road tax: $500 approx
EMI: $450 approx
Deregistration value after 1 year: 6K approx (this amount you will get back, just 1K less than downpayment)
So, finally you are paying $450 per month (EMI) + 1K + $500 road tax = almost $550 per month.

So, bottom line is: with $550 per month spending you can have a small car. I think it will fit your budget.
Think about this. Anybody please tell me if there is anything wrong in this calc.

PS: I am not a car agent :D , I am also exploring & thinking to buy similar one :D


Where's your insurance? That's $1200 per year minimum if you don't have a NCD, even for 3rd party only! Fuel is a min $200 a month IME. ERP another $50. We're up to $900.... I think the OP is shit outta luck.


@PNGMK, yes good point ! I have missed the insurance. But are you sure - it is that much for small cars? need to check...may be...

Except Insurance, all others you mentioned - Parking, ERP, Fuel is not the point here when the guy asked if he can have $500 can on lease. Lease price is not included with Parking, ERP and Fuel cost I believe.

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Postby sundaymorningstaple » Wed, 02 Oct 2013 5:49 pm

OP most probably forgot the incidental running costs as well, but they add up to several hundred a month, so worth mentioning just in case.


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