Originally posted by imprezaWRXSTi22B:
just to add on.
92 93 honda civic esi and vti are generally not in very good
condition. with quite a lot of problems eg. overheating etc. unless
u are very familiar with cars and very experienced, or u are so
lucky to get a car in good condition, its best to avoid such cars.
even if u get a good car, the components (timing belt etc) need
replacing due to wear and tear still.
regarding scrap value of 20 yr old cars, i am not sure.
forgot liaoz. think some others will help u out regarding
this.
last of all, dun forget to include petrol, parking, erp, road tax,
insurance, fines, servicing etc etc in addition to your monthly
instalment. at least 1k for everything to be safe. if u dun have
this budget, please reconsider buying a car.
I think the case is that, if you scrap your car on the 10th year
after the COE expire, you get back a sum of money (scrap value).
However, you renew the COE and decides drive the same car for
another 10 years, then at the end of the 20th year after the 2nd
COE expires, you get back nothing. Of course if you decide to sell
the car between the 10th to the 20th year, you get back some money
for the 2nd COE that you paid.
The depreciation looks something like this:
Depreciation for 10 years= 2nd COE + Scrap Value
Depreciation per year = 2nd COE + Scrap Value / 10 years
