Constantly buying 8 yr old cars, a good idea?

preventme

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Hey guys,

Came across this article that mentioned that it is advisable to buy a 8 year old car instead of a brand new or relatively young car and I think it actually suits my situation pretty well.

I am interested to see your opinions to this.


http://sgcardepre.com/wisdom/why-i-started-buying-8-year-old-cars/

In summary, buying a 8 year old car have the advantages below:
1. You know how much you are going to lose
2. You can afford to not take loan (or too much loan)
3. You can change car every two years (in the event of you constantly buy and sell a brand new car, you lose more in comparison)
4.you can save on cosmetic damages (since you are selling it in 2 years)

My short background:
Doing sales job that needs a car. Travelling to jb 2 to 3 times a week.

Preparing to get married in 2 years.

Owning a 2008 civic. (need to find a replacement car soon)

The reason of me considering option is that in any case that I make a career change, I do not need to worry about the 10 years installment if I buy a new car.

Also since I plan to get married in two years time, I will need a relatively big pot of cash, can't afford to use it all on my car downpayment.

All in all, do you guys think it is a wise or partially wise option for my situation or for going adults in general?
 
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ralliart_ray

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got civic to drive until 2018, come back and post 3 months before you scrap/ or change ride :s13::s13::s13:
 

preventme

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Walao. Hands itchy mah. Plus need to plan ahead. If buying a brand new car is a smarter choice, another game plan alreAdy
 

tankgunner

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if you are fine with driving not the latest and factor in higher repair costs, this strategy should be ok.
 

ralliart_ray

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Walao. Hands itchy mah. Plus need to plan ahead. If buying a brand new car is a smarter choice, another game plan alreAdy

you ownself also say liao mah, anyway #YOLO lah~ :s13:

The reason of me considering option is that in any case that I make a career change, I do not need to worry about the 10 years installment if I buy a new car.

Also since I plan to get married in two years time, I will need a relatively big pot of cash, can't afford to use it all on my car downpayment.
 

hiton

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On my second 9 yr old car already.
See what u prefer
some may like new car, while some prefer old car.
 

preventme

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On my second 9 yr old car already.
See what u prefer
some may like new car, while some prefer old car.

Who doesn't like brand new car with latest tech.
But I can live without that la. Good speaker with good handling enough for me. I think those complicated infotainment system will get boring after awhile.

But how's everything on your side? Less burden financially?
 

preventme

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U cannot take 10 yrs loan unless u are taking phv scheme for uber grab
Base on current regulation, max is 7 yrs loan only

Anyway u post too early liao lol

Sent from Turbo Inside!!! using GAGT


Oops mistake. Ya 7 years.

I drove this car for quite sometime alreAdy. Want something new. Lol. If see good deal in near future maybe might change also.

Wonder who really can drive same car for 10 years. I can't šŸ˜©
 

hiton

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Who doesn't like brand new car with latest tech.
But I can live without that la. Good speaker with good handling enough for me. I think those complicated infotainment system will get boring after awhile.

But how's everything on your side? Less burden financially?

To me can drive to point a to point b will do. Of cos, car must be acceptable condition. Financially ok, have to remember it is lifestyle choice. Not a must in life.
 

yanbros

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drive until scrap and after your wedding then decide.... but then after your wedding may come the home, kids.... never ending money draining away.
 

zensushi

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~$100k should be saveable between now & the end of your current ride's COE lifespan?

Even more manageable if you factor in "minimum loan" that dealers usually require.

Used cars are potentially a bigger hit & miss. More likely to face problems, especially for 8-year old cars.
 

doody_

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Oops mistake. Ya 7 years.

I drove this car for quite sometime alreAdy. Want something new. Lol. If see good deal in near future maybe might change also.

Wonder who really can drive same car for 10 years. I can't šŸ˜©

If got no money how to change so often? No choice but to drive until scrap la :o
 
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