"The omv for my current car is 130% (under the old structure).
Is it means that I must scrapped the car before the fifth year? Do
it mean that I "delay" scrapping the car and I will be lose
out"
Yes, if you scrap your car before the fifth year is reached, you
can get back 130% of OMV on your PARF rebate. Every year
thereafter, you will lose 10% on the OMV each year. At the end of
10 years, you will only get back 80% of the OMV.
"Will the COE drops in the next few months? Not sure about the COE
trends."
There is always speculation on COEs, and there is never a sure way
of predicting the direction the COE can go... You can only try to
guess through observation of what is happening in the market. I
feel that COEs should not have any drastic changes in the next few
biddings(esp Cat A)... But then again, who knows for sure?
"I just change a new job. If i got dismissed or sacked, I am not
able to maintain my new car. I know that I have to pay alot of
money back to the bank. is it a worth the risk to change my current
car now."
In general, owners of new cars need a lot of time before they
'break-even' on their loans. Since you can get back some money
through scrapping this car, you can always keep this option in case
something happens and affects your finance. (Worst come to worst
dun drive only) If your income in the new job is unstable and you
may change job anytime, try not to increase your monthly
instalments and get yourself stuck in a new loan.
eddie
