COE continue to climb …

EJB

EJB

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kebinu said:
Correct that the ARF is low, but still have to buy some $8-$10+k premium over this ARF from the owner.

For COE renewal, have to be cash rich to do full cash, else need to do that coe renewal loan.. this means if later scrap, have that penalty fee of 1% ($800+ base on cat a PQP) and rule 78 etc.

Still have to spend a few k on some repair to fix up the car. Worth it or not? Very hard to say. If one can come up with $80+k, then maybe won't consider the hassle unless it's second or third car etc.

So personally I got a $8k parf car at $17+k. Renew COE in aug/sep at $74k, spent $6k on replacement and respray (respray is extra), total cost also up to $98k liao.
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$98K I down for new car liao.
 
EJB

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kebinu said:
Also got another new car... guarantee coe coming up in next bid.
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Shiok. I so tempted also, my friend keep suan me wanting to waste money. Everytime I hear liao I tarik... dun dare to buy. Sigh.
 
kebinu

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EJB said:
Shiok. I so tempted also, my friend keep suan me wanting to waste money. Everytime I hear liao I tarik... dun dare to buy. Sigh.
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buy low sell lor, buy high sell high. your current car probably cost you close to nothing if you trade in or earn if you try to diy sale.

all same same.

to really buy low sell high, need to have multiple cars, like properties. coe supply will even be lower till 2024, so unless economy tank so badly, coe premium will go up.. then again, used cars are not selling as well now though recent 1-2 weeks have more transactions.

btw, you can really bargain till you buy around cost price for now.

use this to bargain. http://motorcal.co/car-arf-calculator.php

I'm able to purchase at below cost price at last coe closing.
 
EJB

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kebinu said:
buy low sell lor, buy high sell high. your current car probably cost you close to nothing if you trade in or earn if you try to diy sale.

all same same.

to really buy low sell high, need to have multiple cars, like properties. coe supply will even be lower till 2024, so unless economy tank so badly, coe premium will go up.. then again, used cars are not selling as well now though recent 1-2 weeks have more transactions.

btw, you can really bargain till you buy around cost price for now.

use this to bargain. http://motorcal.co/car-arf-calculator.php

I'm able to purchase at below cost price at last coe closing.
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If I sell now, I can take back 30-40K on top of what I paid for the car. In short, drive for free. I just need to top up a bit for my next car, that's all.

Buying low, selling high, I not too keen to worry on that. As long as the price I get rid of the car then buy the next car can afford, can liao. It's just the cost and wondering if it's a good move that's holding back.
 
kebinu

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if only a bit for next car.. how much is a bit more depreciation? 1-2k a year? >$200/month? Happier in life? Why not?
 
Conan1986

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EJB said:
If I sell now, I can take back 30-40K on top of what I paid for the car. In short, drive for free. I just need to top up a bit for my next car, that's all.

Buying low, selling high, I not too keen to worry on that. As long as the price I get rid of the car then buy the next car can afford, can liao. It's just the cost and wondering if it's a good move that's holding back.
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unless you're doing mainly cash transaction, must remember that the interest rate also shot up to about 2.78% now. car depreciation calculation typically don't include this in so it can be misleading on the real cost involved

buying a car right now is of course outright a bad move unless you're really stuck with no choice
 
EJB

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Conan1986 said:
unless you're doing mainly cash transaction, must remember that the interest rate also shot up to about 2.78% now. car depreciation calculation typically don't include this in so it can be misleading on the real cost involved

buying a car right now is of course outright a bad move unless you're really stuck with no choice
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That's the other thing, I want to full cash down for the next car. The ADs I spoke with aren't too keen with that option and requested I take a loan of 80K minimally. Which I'm not too keen either. The interest on that might outweigh the discount they give for taking loan.

My previous car I wanted to cash up but my SE suggested I take 30K, interest was $600+, the discount was $1500. I still earn, so I just let her earn a bit. But $80K loan....

As for your 2nd point that's true actually. I'm not 'stuck', I'm just butt itchy. My current car is only 1 year 2 months old :s13: I can't justify, it's more of a want than need. That's why I'm trying to avoid stepping in to the showrooms :s13:
 
Eviltrap

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I'm also super tempted to sell the car now with the current high COE prices to convert back to BMW. My ride is now around 1 year3 months.

Maybe wait until prices to come down (if ever in future) to buy again.
 
EJB

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Eviltrap said:
I'm also super tempted to sell the car now with the current high COE prices to convert back to BMW. My ride is now around 1 year3 months.

Maybe wait until prices to come down (if ever in future) to buy again.
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If you don't need the car, now's a good time.
 
kebinu

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Eviltrap said:
I'm also super tempted to sell the car now with the current high COE prices to convert back to BMW. My ride is now around 1 year3 months.

Maybe wait until prices to come down (if ever in future) to buy again.
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BMW? I think now is the time if you know I know why... After this year, don't know got such crazy opportunity again.
 
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