COE Predictions

[sktan10]

Scrap and join the fun? No penalty for loan? The earlier depreciation is too high

Sorry, I can't get you?
What penalty loan?
My colleagues told me his loan clear in 2019 then he prepare to look for new car again in 2019 and carry on a new loan again.
You mean loan clear still got penalty if he sell his car?

 

[HondaJG]

Scrap and join the fun? No penalty for loan? The earlier depreciation is too high

pls refer to the loan agreement terms la.
but anyway, is still cheaper to clear the loan earlier.

My colleagues told me his loan clear in 2019 then he prepare to look for new car again in 2019 and carry on a new loan again.

like that? the bank will like you even more.

 

[sktan10]

Yeah... I also waiting for 2019 if can reach 10k. My car is 2014 and loan cleared in 2019 too... Will just scrap and take money to downpay for next new car.. my car will reach 200k km mileage by then and I dun wan spend too much on major servicing haha.

Yeah!
If you clear your loan in 2019 and if coe drop again in 2019,then you are at the right time to change your car.
By that time your car is fully paid and very straight forward.Your car value even if only paper value still consider full cash,just nice for your down payment.And I think your paper value should be quite high cos coe during that time is high?

 

[HondaJG]

Yeah!
If you clear your loan in 2019 and if coe drop again in 2019,then you are at the right time to change your car.
By that time your car is fully paid and very straight forward.Your car value even if only paper value still consider full cash,just nice for your down payment.And I think your paper value should be quite high cos coe during that time is high?

yup. this is the only option for such situation.

 

[sktan10]

pls refer to the loan agreement terms la.
but anyway, is still cheaper to clear the loan earlier.


I know.


like that? the bank will like you even more.

That is what I want to ask him. Lol...

 

[sktan10]

yup. this is the only option for such situation.

Coe in 2014 are as high as 60k to 70k.
So their car in 2019 still worth at least 45k to 55k even if paper only.
I think they can trade in for a new car without taking any loan if coe really drops to 10k.By that time I think BB new car can get around 55k to 60k?
My colleagues is planning just like some bro here. That's why sometimes I wonder, who is the one who laugh? Lol..

 

[HondaJG]

Coe in 2014 are as high as 60k to 70k.
So their car in 2019 still worth at least 45k to 55k even if paper only.
I think they can trade in for a new car without taking any loan if coe really drops to 10k.By that time I think BB new car can get around 55k to 60k?
My colleagues is planning just like some bro here. That's why sometimes I wonder, who is the one who laugh? Lol..

how to laugh? COE drop below 20k I also heart pain..
can bang table throw chair liao..

 

[hachi]

You buy based on what you can afford that time, simple as that.

 

[HondaJG]

You buy based and commit on what you can afford that time, simple as that.

so what did you buy then?

 

[sktan10]

how to laugh? COE drop below 20k I also heart pain..
can bang table throw chair liao..

No choice la! Difficult to time the right time. Just be happy with what you have.

 

[HondaJG]

No choice la! Difficult to time the right time. Just be happy with what you have.

 

[twerdna]

True just be happy you overspend on cars and next time can't retire. Song ah!

 

[birmingham123]

Yeah!
If you clear your loan in 2019 and if coe drop again in 2019,then you are at the right time to change your car.
By that time your car is fully paid and very straight forward.Your car value even if only paper value still consider full cash,just nice for your down payment.And I think your paper value should be quite high cos coe during that time is high?

Yap. Paper value should be high. Say assuming I scrap this year end, I get back around 44k even though I use the car for 4years already. Then top up 20k (64k) can get another car assuming Coe drop to 20k

 

[birmingham123]

True just be happy you overspend on cars and next time can't retire. Song ah!

Hmm actually nowadays with hitch, I cover alot of cost to the extent that I think is cheaper than public transport. My total car expenses is around 1800 and hitch cover me around 1300.. so I spend around 500 and it covers me and my wife transport and sometimes my family during weekends. For 500, I find it worth for all the convience.

 

[HondaJG]

Hmm actually nowadays with hitch, I cover alot of cost to the extent that I think is cheaper than public transport. My total car expenses is around 1800 and hitch cover me around 1300.. so I spend around 500 and it covers me and my wife transport and sometimes my family during weekends. For 500, I find it worth for all the convience.

no bad leh.. I was also thinking to be a Grab hitch now.
can choose the job or random assign to you, once you open your app?

 

[BuGGi3]

Hmm actually nowadays with hitch, I cover alot of cost to the extent that I think is cheaper than public transport. My total car expenses is around 1800 and hitch cover me around 1300.. so I spend around 500 and it covers me and my wife transport and sometimes my family during weekends. For 500, I find it worth for all the convience.

1300 for hitch takes up some of your time too i guess, some stacking required. very nice amt to offset monthly car payment

 

[sktan10]

Yap. Paper value should be high. Say assuming I scrap this year end, I get back around 44k even though I use the car for 4years already. Then top up 20k (64k) can get another car assuming Coe drop to 20k

Good for you.

Those car that cost 75k now with 25k coe.When use 4yrs later, will be left with paper less than 25k.

Due to high coe, that's why your paper value still worth 44k even you use your car for 4yrs already.

But provided loan must complete if not talk what also no use cos need to pay back remaining debt to bank. Lol..

If you can time it correctly,i think you can buy another BB car with very min cash upfront or even take a small loan.

Let hope coe keeps dropping.lol...

 

[HondaJG]

Good for you.

Those car that cost 75k now with 25k coe.When use 4yrs later, will be left with paper less than 25k.

Due to high coe, that's why your paper value still worth 44k even you use your car for 4yrs already.

But provided loan must complete if not talk what also no use cos need to pay back remaining debt to bank. Lol..

If you can time it correctly,i think you can buy another BB car with very min cash upfront or even take a small loan.

Let hope coe keeps dropping.lol...

which means? your high COE value is locked onto the paper cert.
the paper is only meaningful when renew for new car, else will be total lost..

mai la.. maintain COE at current level la..

 

[birmingham123]

1300 for hitch takes up some of your time too i guess, some stacking required. very nice amt to offset monthly car payment

Hmm quite easy to stack 2 along the way... Take up 10-15mins extra per trip but I still think more convenient than me and my wife taking public transport

 

[Leave No Men Behind]

Agreed
+1
+1
+1

You buy based and commit on what you can afford that time, simple as that.