Early Renewal COE

[Optionstrader]

there r some advantages to renewing.

it's pretty cheap as yr only paying coe price. at current coe, it's only about 5k pa. if i have been driving a bmw 320 for example at 12k pa. i'm now only going to drive it for 5k pa. the slight road tax premium is negligible. as for reliability, most parts would be changed by then so it's not an issue. Contrast to buying a coe car and u will need to pay a much higher depreciation.

the rare supercar is simply done out of passion and very tricky financially as such cars are not easy to sell. even with a high perceived value, it can take a very long time or way too long to find a buyer. but i guess no one bothers about spending amount when it comes to supercars.

Yes I do agree seen some BMWs with renewed coe and they are pretty good deals

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[Optionstrader]

there r some advantages to renewing.

it's pretty cheap as yr only paying coe price. at current coe, it's only about 5k pa. if i have been driving a bmw 320 for example at 12k pa. i'm now only going to drive it for 5k pa. the slight road tax premium is negligible. as for reliability, most parts would be changed by then so it's not an issue. Contrast to buying a coe car and u will need to pay a much higher depreciation.

the rare supercar is simply done out of passion and very tricky financially as such cars are not easy to sell. even with a high perceived value, it can take a very long time or way too long to find a buyer. but i guess no one bothers about spending amount when it comes to supercars.

Yea it's very tempting to change sometimes then again better to save the money

Sent from OPPO CPH1607 using GAGT

 

[Optionstrader]

there r some advantages to renewing.

it's pretty cheap as yr only paying coe price. at current coe, it's only about 5k pa. if i have been driving a bmw 320 for example at 12k pa. i'm now only going to drive it for 5k pa. the slight road tax premium is negligible. as for reliability, most parts would be changed by then so it's not an issue. Contrast to buying a coe car and u will need to pay a much higher depreciation.

the rare supercar is simply done out of passion and very tricky financially as such cars are not easy to sell. even with a high perceived value, it can take a very long time or way too long to find a buyer. but i guess no one bothers about spending amount when it comes to supercars.

depreciation varies alot with coe prices then again

Sent from OPPO CPH1607 using GAGT

 

[yattokame]

depends on the PQP and COE trend; also how much parf one is giving up.

example: S350L
Parf + body about 50+k. PQP about 55k. road tax increases if renew COE, up to 5th year onwards is a max of 50% which is 1k+ extra for the final 5yrs of the renewed COE. so renew COE for this car means approx 110k (because parf is forfeited since car is not dereg at 10th year - right?) or 11k annual depreciation. might be better to use the parf to offset downpayment for another preowned.

 

[trento]

If renew coe, your depreciation per annum is simply your coe price and additional road tax premiums

Parf is used to reduce the depreciation of next car, nothing to do with current car

depends on the PQP and COE trend; also how much parf one is giving up.

example: S350L
Parf + body about 50+k. PQP about 55k. road tax increases if renew COE, up to 5th year onwards is a max of 50% which is 1k+ extra for the final 5yrs of the renewed COE. so renew COE for this car means approx 110k (because parf is forfeited since car is not dereg at 10th year - right?) or 11k annual depreciation. might be better to use the parf to offset downpayment for another preowned.

 

[focus1974]

depends on the PQP and COE trend; also how much parf one is giving up.

example: S350L
Parf + body about 50+k. PQP about 55k. road tax increases if renew COE, up to 5th year onwards is a max of 50% which is 1k+ extra for the final 5yrs of the renewed COE. so renew COE for this car means approx 110k (because parf is forfeited since car is not dereg at 10th year - right?) or 11k annual depreciation. might be better to use the parf to offset downpayment for another preowned.

I am also having this predicament now.

If I renew COE, I can drive my bigger car same brand.
If I trade in now becoz of the rebate plus overtrade, I can drive a smaller car same brand.

The depreciation of driving a renewed COE big car versus a brand new COE small car is like only $6k versus $14k per year.

You break it down to amonthly figure .. it is only whether you are concern abt spending $500 monthly on a old car versus spending $1,200 monthly on a new car.

It is like not much difference...

Now I'm really confused... Old car still good and trusty... but difference really not much.

LTA scholars really jin smart... do the sums until it's very hard to choose...

 

[myviowner]

I am also having this predicament now.

If I renew COE, I can drive my bigger car same brand.
If I trade in now becoz of the rebate plus overtrade, I can drive a smaller car same brand.

The depreciation of driving a renewed COE big car versus a brand new COE small car is like only $6k versus $14k per year.

You break it down to amonthly figure .. it is only whether you are concern abt spending $500 monthly on a old car versus spending $1,200 monthly on a new car.

It is like not much difference...

Now I'm really confused... Old car still good and trusty... but difference really not much.

LTA scholars really jin smart... do the sums until it's very hard to choose...

Thats why LTA hires them to be their think tank dude.

Plus to factor in the higher maintenance cost and road tax for renew rides.