Need advice: want buy 7 yr old car than convert to opc

[reflush]

hi..,
looking for long term usage, so my plan is buy 2nd hand car that 7-8 yr old, then convert to opc.
if somehow after coe expired coe price down abit, want renew again for next 10 year.

anyone can give opinion, is the idea is good or not

 

[jittery]

hi..,
looking for long term usage, so my plan is buy 2nd hand car that 7-8 yr old, then convert to opc.
if somehow after coe expired coe price down abit, want renew again for next 10 year.

anyone can give opinion, is the idea is good or not

if no need car now, might as well wait till coe price 2 years later then decide loh.

 

[reflush]

i need car almost(but not always) every sat-sun
if somehow the coe after 2-3 years still high and my car already convert to opc, very little i can get when the car been scrap right?

 

[d3n]

thats what i did almost 1 year ago.

bought a normal plate 7 year old car convert to OPC to get OPC rebate of $1100 every 6 mths.

but dun think i will renew COE since the COE so ex... (dun think it will drop much in time to come)

 

[bendi85]

hi..,
looking for long term usage, so my plan is buy 2nd hand car that 7-8 yr old, then convert to opc.
if somehow after coe expired coe price down abit, want renew again for next 10 year.

anyone can give opinion, is the idea is good or not

Old car maintenance maybe more ex. Instead of paying the Coe to renew for another 10 years, might as well get a newer car.

 

[YuM_ChA]

hi..,
looking for long term usage, so my plan is buy 2nd hand car that 7-8 yr old, then convert to opc.
if somehow after coe expired coe price down abit, want renew again for next 10 year.

anyone can give opinion, is the idea is good or not

You might as well just get an opc because most opc will have lesser mileage

 

[d3n]

You might as well just get an opc because most opc will have lesser mileage

not worth.

7 year old OPC and 7 year old normal plate cost almost the same.

I rather get normal plate then convert to OPC then still can get $1100 rebate every 6 mths to offset the cost of the car.

if u get OPC from second hand market, it only favors the 1st owner which already have rebate.

but if you get normal plate from the second hand market and convert to OPC, it favors u.

Using an OPC car, the mileage doesn't matters, as long as the car have no major accident history (can send to AAS for evaluation before committing) and no major wear and tear. It is still ok since not driving everyday.

 

[frozted12]

Im thinking of converting my normal plate car to opc too. But will the paper value drop once coe finish? Currently can get 10k++ minus body value.

 

[d3n]

Im thinking of converting my normal plate car to opc too. But will the paper value drop once coe finish? Currently can get 10k++ minus body value.

wun affect. u still get back your PARF.

 

[frozted12]

wun affect. u still get back your PARF.

Thanks for the reply. Than how abt the 6monthly rebate? We get it back in cheque or just some kind of paper value only like those coe rebate?..

 

[emitchan]

why not just get a OPC directly since mileage and dp is lower...~

 

[d3n]

Thanks for the reply. Than how abt the 6monthly rebate? We get it back in cheque or just some kind of paper value only like those coe rebate?..

the 6 months rebate will be credited to your bank acct.

 

[d3n]

why not just get a OPC directly since mileage and dp is lower...~

see my post #7.

mileage may be low but since u are driving OPC, mileage doesn't matters anymore.

as long as the car is in good condition. high mileage and low mileage to OPC is the same.

 

[nixiak]

How about buying a used OPC car and converting to Normal Plate?

Why I say that?

1. An OPC car would be cheaper and thus monthly installments is lower.
2. An OPC car, especially an older one, would incur less conversion cost to normal plate.
3. In general, the mileage of OPC car is still reasonable, not too worn out, even it's an older one
4. In some cases, an OPC car + conversion cost is cheaper than normal plate car if using same mileage to compare.

Are these possible motivations to buy used OPC car and convert to normal plate?

 

[reflush]

hi.., i look many 8-9 years old car at sgcarmart mention that have high paper value and guarantee the $xx amount when scrap.
i want to confirm, the guarantee $xx amount when scrap, is fixed or could be change on the real date it need to scrap

if i want to renew the car for next 10 years, this high paper value will still benefit or no more benefit?

 

[jittery]

hi.., i look many 8-9 years old car at sgcarmart mention that have high paper value and guarantee the $xx amount when scrap.
i want to confirm, the guarantee $xx amount when scrap, is fixed or could be change on the real date it need to scrap

if i want to renew the car for next 10 years, this high paper value will still benefit or no more benefit?

$xx is not fixed, depends on the real date car was scrapped.
more details, look into this ONE.MOTORING - PARF/COE Rebates

 

[limkopilimteh]

OPC in years 2007, 2008 have very low PARF value as the COE was low.
So you are actually paying a high price for a low paper value car. which means u are paying for high depreciation as well.

So when u convert the OPC to normal car + renew COE (at current high levels), i don't really see much savings. Just my thoughts. And that renewal of COE would mean you have to stump out cold hard cash.

 

[d3n]

How about buying a used OPC car and converting to Normal Plate?

Why I say that?

1. An OPC car would be cheaper and thus monthly installments is lower.
2. An OPC car, especially an older one, would incur less conversion cost to normal plate.
3. In general, the mileage of OPC car is still reasonable, not too worn out, even it's an older one
4. In some cases, an OPC car + conversion cost is cheaper than normal plate car if using same mileage to compare.

Are these possible motivations to buy used OPC car and convert to normal plate?

1. point out liao... if u convert OPC to normal u need to pay back the OPC rebate given to you... if this car is registered as OPC right from the start.

Upfront rebate of up to S$17,000 X (120 months - number of months & days
registered as an OPC at time of conversion)
120 months

 

[nixiak]

1. point out liao... if u convert OPC to normal u need to pay back the OPC rebate given to you... if this car is registered as OPC right from the start.

Upfront rebate of up to S$17,000 X (120 months - number of months & days
registered as an OPC at time of conversion)
120 months

Oh ok I didn't know about that. Thanks