Why should I renew my COE???

exkiwi SG

Please tell me why should I renew my COE for another 10 years. I drive a 10 years old nissan march. COE expire mar this year, cost only $10k for another 10 years. Should I get a new car???

storm_freaky13 SG

if your car is not giving u problems very often then as long as you are okay with it why not?

but can your current car last u a further 10?

Ponders SG

But road tax is at 1.5 times.

but hmm.. 10k for another 10 years not too bad if car's functioning no probo.

hmm. so fast 10 years plus liao.

I still remember my old honda Civic (still caburator engine, the one before EG6), was the last few batch before COE implemented.

exkiwi SG

Road tax is cheap, only 1000cc. Condition excellent, I think no problem for another 10 years (touch wood!). I have to pay additional $36k for new car, but renew COE only $10k. But my friends advice me to get new one. Wa liao, how to decide?

DaKaR SG

Put it this way, your car PARF is ard 8-10k...
Renew COE for 10k more = 18k
on market people selling for ard 30+ plus
you renew and sell also can sell for at least 20... now won't lose money one...
if want to keep, the most go fix up the mess, replace wear and tear components, say spend 3k for paintwork n engine...
also 3 years of problem free motoring... your depreciation still cheaper than any car on the road...

photo_seeker SG

Unless you wants a change of car. But if you’re not that rich, hold on to your faithful car.

exkiwi SG

I am not rich. If I pay cash to renew COE (bo bian! hv to pay cash lah. No bank want to lend me money), the car will be mine. Buy new car hv to loan $$$ and yet the car belong to the bank. Depreciate only $2k plus a year. Ok lah, go and renew COE next week. Xie xie!!!

Leonong33 SG

Wanna sell or pay COE... both I can help.... let me know if u needs...

Cheers........

victorco SG

if u wan to renew your COE just make sure your model is not going to be running out of spare parts in 5yrs time. meaning there will still be somemore same as your model but newer one on the roads. if not u will have some problem with parts. and if your caR is maintain properly since day 1 then ok to renew if not problem like wear and tear will come out for sure but some things like engine leak and petrol tank leak this two normally come with older cars. due to wear and tear too but seldom notice for most.