Leasing vs Owning

[gilcrest]

2026 is a good two years away.. for all u know policies might change again, COE prices might drop.

The question is unless a major economic crisis occur else its unlikely to drop by the current momentum

 

[gilcrest]

Leasing is gd but not sure how if is under accident.
Usually not the renting fees issue is the 1 when accident happen.

Like going sideways with BlueSG, major financial fallout

 

[inmyopinion]

TS should get a quote from the leasing company.
Then let everyone compare vs buying a new car here.

Use same car model.

 

[weng0202]

Likely will see a slight drop in coe prices from next year.

If your car is in good condition and the omv is low, can consider renewing. At most scrap when coe comes down and get another car. Still can get back some money from the scrapped coe.

 

[itangg12]

Leasing no need big lum sum up front , monthly payment can liao, ofcourse leasing co. need profit it comes front our monthly payment, in the end we paid abit more for driving, it ok with me after all coe only lasted 10 short years

 

[LoUsyGamER]

New Toyotas have issues? Really? Was it mentioned in previous threads? Only saw threads on BMWs.......

You search the major recall. Toyota is doing 1 to 1 replace for 6 cylinder Toyota engine in USA because they cannot resolve the problem.

The previous generation 4 cylinder Toyota, 2zr, has too many problems. It was labelled the worst Toyota engine. The newer m20 engine is using a "one-off" complex design based on the 2zr. Though not much data on the reliability, it seems reliable so far. However, because of the design of the engine, Toyota intention was that any engine problem, you need to replace with a new engine instead of repairing.

BMW is notorious for engine issue with their older n series engine. That is why many remembered bmw as cmi. But newer Toyota engine is catching up with the cui-Ness. A new bmw engine is used in Toyota. So either we say Toyota is getting cui or bmw getting better.

 

[dc10000]

I worry that I will have issues selling my car in future as it is bought with a 100k+ COE price tag. If COE drops considerably in the future, then I will be 'tied down' to my ride or sell at a huge loss. For leasing, I can just walk away once my leasing period is up (with many companies offering different notice period) and proceed to buy another car. Of course, I understand that leasing is still definitely much more exp.

actually you wont be tied. your paper value for your current car is very low one, just small loss.

if price drop, shiok, u just scrap your old ride and get a new car.

if u buy new car n COE drop, unless u r UHNW, u will tink twice b4 u go to change car cos e loss is unthinkable.

 

[dc10000]

Leasing will obviously be a bit more expensive because the leasing company needs to make a profit. The good thing about leasing is that you can get out after 1 or 2 years and the COE should have dropped somewhat.

same mah. what you could have saved towards your own ride has now been given to the rental company for 2 yrs. sheep hair on sheep skin...

unless u zitao dun drive live in JB like king take Grab rides there dun come SG hehe. else hard to arbitrage.

 

[dc10000]

for leasing, better be a damn safe and damn good driver.

1 x single car accident which is totally your fault, all the 'savings' gone. better check the excess and triple check

 

[hachi]

Just renew 5y, 50k or so with praf included maybe 12-14k depre....

 

[mgx-alander]

Leasing is no go for moi too many ppl with knife to chop carrot.. dun feed them let their coe rot cos no1 lease and force coe to drop

 

[Hyperephania]

I worry that I will have issues selling my car in future as it is bought with a 100k+ COE price tag. If COE drops considerably in the future, then I will be 'tied down' to my ride or sell at a huge loss. For leasing, I can just walk away once my leasing period is up (with many companies offering different notice period) and proceed to buy another car. Of course, I understand that leasing is still definitely much more exp.

Don't understand...

COE rise or drop you will be 'tied down' to your ride no? Unless you decide to scrap/sell.

Why will you need to sell at a huge loss in the event of COE drop? Your COE value does not drop, people may not buy your car due to higher COE, which translate to higher price, but can always scrap and get back the remaining value of your "high" COE.

 

[Firestorm1978]

Thank you everyone! Based on the majority of the views here, it seems that leasing is a no-go when it comes to long-term car ownership.