Scrap or Keep?

zerocool85 SG

My family's toyota camry 2.2 is coming to 5 years old in 3Q of this year and I was wondering if we should scrap the car and get another car or keep it.

Is it true that it is better to let cars go before they hit 5 years? I heard the calculation changes and thus losing $5-$10k due to depreciation.

Another thing that i'm concern about is about the car parts. Because most people change cars before 5 years, is it true that Borneo Motors/Car dealers will not really have the spare parts? Will they stop producing the car parts too? Furthermore, the camry is 2 gen before the current make.

We are currently paying $1,500/mth for the installments and about $350-$450 on petrol. So it's roughly $2,000 a month.

I do not know the scrap value of the car too because I'm not sure which figure I should take from the web-site (key in car number + ic). Embarassed

We do not mind getting another car with $2,000 a mth expenses. Any recommendations? Sporty - luxury range. Laughing

Thanks =D~

huoye SG

for ur scrap/paper value u take both the COE rebate and PARF Rebate add together..........
As for those sporty 2L car, u can try the Honda Accord 2.0 or the EuroR or the IS200 or the Altezza
But hor from ur instalment ur loan like quite high hor.... i think u all muz haf bought the vehicle at abt 120,000 wif 100k loan. So u better check wif ur finance wads the outstanding amt. of ur loan and if the sale of the car would be able to cover the outstanding amt. anot if not u may have to top it up in cash

zerocool85 SG

Yes, we paid $140k for that camry and we did take a 100k loan.

I've calculated a value of $64k for the car. Just have to top up another $13k to finish the loan.

hmm.. what other sports cars are there in sg within the 100k region?

kohanson SG

how about Honda Integra GSR, Subaru WRX, Renault Clio RS..