zc11 SG Alot of pple say that u shld change a car b4 it exceed the 5yrs mark if u are planning to change car. especially if u bought ur car during the high COE season( around yr2000). So if ur car is with high COE, u shld change car now ? since the new CEO is must cheaper? and the OMV is lower(55%)?? I own an 9/2000 car and it is going to reach 5yrs and pple are telling me to export me car and get a new one. my car is high COE. Is it better to drive my car to the end till 10yrs finish ? or is it better and more worth it to change a new car? Can u guys tell me your view and thinking and explain a bit for me! pls, thx !
elfhunter SG It will be better for you to sell or scrape yr old car now b/4 9/2005. Cars register b/4 May 2002 have a PARF value of 130% of OMV if it is de-reg b/4 the end of 5 years. Car register after May 2002 have only a PARF value of 82.5% of OMV if de-reg b/4 end of 5 years. Considering that the COE in 2000 is high compared to now. It make more sense to de-reg yr car as 1) higher PARF benefits if de-reg b/4 5 years 2) higher depreciation cost cos of higher COE. The paper value of yr car is most likely to be much higher then the actual value of the car. Therefore it make sense to scrape yr car b/4 9/2005. if you go to a car showroom and the SE know that yr car is register in 2000, he will give u very good service cos you are money dropping from the sky.
zc11 SG paper value much higher than the value of car? wat u mean ? the value for car body ? why high PARF benefits if de-reg b4 5 yrs? and high COE will cause higher depreciation cost ?? how come ? Heheee can u explain abit more ? thank alot!
tick SG Hello i also used to own a 9/2000 car...that time COE was $38k imagine now after prorate, your COE can get back $19k (assuming 5 years) You can get it for 10 years at today COE price. should change lah....can drive new car and trouble free for next 5 years...
keith_typeR SG I think what Tick means is that if you sell/scrap your car now (b4 5yrs old), the COE rebate you get back will be more than enough to cover another 10 yrs of at the current COE rate.... this will therefore gives you trouble-free for the next 5 yrs since its gonna be a newer car.
