Off Peak Car (OPC)
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This is not tempering right? Tempering is like tear and put back...This is just a matter of time of when to tear...hehe I guess it is some loophole of the system...Originally posted by SeeTees:Dun Temper with the coupons... My friend did. For that, he was "rewarded" with a 2 week stay (inclusive of Lodging and 3 meals) at: QUEENSTOWN REMAND PRISON...
But my advice is still dont , if want to try, make sure don't get caught...not worth the risk...not worth going to prison for $20...
I hope no tp/rov visit this thread...
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haha, ya agree, good way to keep yourself awake...Originally posted by Ritz79:hahaha...like that u and yr passenger will be looking out for TPs/ROVs instead of concentrating on yr driving...
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Agreed totaly. If u really out to try yr luck, dun put coupon at all. At most fine $5000. If caught tempering then TP throw in free lodging. But then again 5000 buck mean u got to "siam" 250 time w/o getting caught to break even!!!!!Originally posted by SeeTees:Dun Temper with the coupons... My friend did. For that, he was "rewarded" with a 2 week stay (inclusive of Lodging and 3 meals) at: QUEENSTOWN REMAND PRISON...
Bottomline, dun try either ways. Simply not worth the effort. Govt not stupid one ok.
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Can i ask when i flip open classfifed, i seldom see off-peak cars for sale.. so it's like you only get to have off-peak cars when u buy new one? or even those renew COE one also can? but usually those will have normal COE already renewed b4 they put on 2nd hand car sale.
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hey, i'm getting an off-peak Lancer soon!!! works out to $450/mth for 0% down if loan approve!!!
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Usually people convert their OPC back to normal plate so that it is easier to sell. I guess there are still a handful who sell OPC as OPC.Originally posted by 100%:Can i ask when i flip open classfifed, i seldom see off-peak cars for sale.. so it's like you only get to have off-peak cars when u buy new one? or even those renew COE one also can? but usually those will have normal COE already renewed b4 they put on 2nd hand car sale.
I have a question that can one convert a second hand car from normal to off-peak? How does the 17k rebate applies here then?
As for the COE car, I guess people dont want to own a car for a few months before they take it to scrape, so usually the old owner will renew so that it will be easier to sell. Again there are still a handful who does drive for a fw month before scraping the car.... -
From what I knew, the 17K rebate only applies to new cars. If you want to convert a second hand car to OPC, only the road tax rebate of $800 applies.
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Actually the $17k will still be rebated, but pro-rated. Meaning if the car is 5 years old, then owner convert it to OPC, then you get $8.5k. Or a 8 year old car will be rebated (17*number of years left/10 =) $3.4k. Then there is a fee of $200(??) to pay too.Originally posted by zenixth:From what I knew, the 17K rebate only applies to new cars. If you want to convert a second hand car to OPC, only the road tax rebate of $800 applies. -
me tempted to get a toyota vios auto OPC at $57,776, so after rebate is $40,776. With a downpayment of $3776, loan will be $37,000. Based on 2.2% for a 7yr loan, the monthly instalment is about $500. on a 10 year loan at 2.4%, the monthly instalment is about $375. (based on HSBC's 1 year interest rebate)Originally posted by wbucket:Actually the $17k will still be rebated, but pro-rated. Meaning if the car is 5 years old, then owner convert it to OPC, then you get $8.5k. Or a 8 year old car will be rebated (17*number of years left/10 =) $3.4k. Then there is a fee of $200(??) to pay too.
based on a $100 petrol per month and open carpark of $65, it works out to be $665 per month for a 7 yr loan. Thats like 25% of my take home pay. Do u guys think its ok to spend this proportion of pay in a car? Just need some views. Thanks.
just curious, how much petrol do u guys use for an OPC per month? Also, how frequent do u need to service an OPC scheme car? How much is a round of maintenance servicing?
In addition, how much is the road tax for a 1.5l vios after the $800 rebate?
I am currently 29 with a year's licence. My wife is 28 yrs old with 7yrs licence. Is it more worth it to buy the car in her name? Whats the premium like for our age range?
Lastly, any other recommendation of cars with similar price range of $50k - below $65K cars? -
Hi 100%,
Off Peak cars where got cannot find 2nd-hand ones. http://www.sgcarmart.com/main/listing.php?MOD=opc&CAP=Any&PR1=0&PR2=&TP=Any&GR=Any&FR=Any&TO=Any
Check these out. Got quite a few for sale.
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INFORMATION FROM LTAOriginally posted by zenixth:From what I knew, the 17K rebate only applies to new cars. If you want to convert a second hand car to OPC, only the road tax rebate of $800 applies.
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You can apply to the LTA to convert your normal car to an OPC. Upon receiving a letter from LTA, you can proceed to change the car number plate to red and have it sealed by an authorised Inspection Centre. To complete the conversion, you will need to submit the required documents as listed in the letter from LTA and pay the conversion fee of $100.
You will be given the $800 discount on the annual road tax subject to a minimum road tax payment of $50 per year. No tax rebate on your COE quota premium or ARF will be given.
If your car is de-registered before it is 10 years old and is eligible for Preferential Additional Fee (PARF) benefit, an additional PARF may be granted on top of the normal PARF benefit. This additional PARF is computed as follows:
Lifespan of the car as a converted OPC (in months & days) x ($2,200/12)
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Essentially, I read that as you get more PARF value if you convert a normal car to OP car. And this amount is $2,200 per year. If you look at it over 10 years, you actually get $22K worth of rebate which is more than the $17K rebate. -
Hi there,Originally posted by nick28:me tempted to get a toyota vios auto OPC at $57,776, so after rebate is $40,776. With a downpayment of $3776, loan will be $37,000. Based on 2.2% for a 7yr loan, the monthly instalment is about $500. on a 10 year loan at 2.4%, the monthly instalment is about $375. (based on HSBC's 1 year interest rebate)
based on a $100 petrol per month and open carpark of $65, it works out to be $665 per month for a 7 yr loan. Thats like 25% of my take home pay. Do u guys think its ok to spend this proportion of pay in a car? Just need some views. Thanks.
just curious, how much petrol do u guys use for an OPC per month? Also, how frequent do u need to service an OPC scheme car? How much is a round of maintenance servicing?
In addition, how much is the road tax for a 1.5l vios after the $800 rebate?
I am currently 29 with a year's licence. My wife is 28 yrs old with 7yrs licence. Is it more worth it to buy the car in her name? Whats the premium like for our age range?
Lastly, any other recommendation of cars with similar price range of $50k - below $65K cars?
I'm getting an OPC too. Actually, had already submitted the forms, now waiting for approval.
I got a mitsubishi lancer 1.6 (M). it costs $60k, and I got a total loan of $44k+ after COE rebate for OPC, over 10 years with 0 downpayment. It worked out to about $450/mth.
Of course, we just can't take monthly as the only cost. Take a look at what I've prepared for the car...
Installment 450
Petrol 250
Season Parking 65
Extra 35 (but will be more than this)
Road Tax/mth 0
Total: $800++
Which is about 33.33333% of my take home per month.
I dunno about the frequency of servicing, but when i used to have a normal car, and had it serviced once in 2.5months.
For the petrol part of $250/mth, think it's never an underestimate lor. -
COE is so cheap now. Is it worthwhile to get OPC?
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from what i heard, normal Vios road tax is $874. after the $800 rebate, shld be $74Originally posted by nick28:me tempted to get a toyota vios auto OPC at $57,776, so after rebate is $40,776. With a downpayment of $3776, loan will be $37,000. Based on 2.2% for a 7yr loan, the monthly instalment is about $500. on a 10 year loan at 2.4%, the monthly instalment is about $375. (based on HSBC's 1 year interest rebate)
based on a $100 petrol per month and open carpark of $65, it works out to be $665 per month for a 7 yr loan. Thats like 25% of my take home pay. Do u guys think its ok to spend this proportion of pay in a car? Just need some views. Thanks.
just curious, how much petrol do u guys use for an OPC per month? Also, how frequent do u need to service an OPC scheme car? How much is a round of maintenance servicing?
In addition, how much is the road tax for a 1.5l vios after the $800 rebate?
I am currently 29 with a year's licence. My wife is 28 yrs old with 7yrs licence. Is it more worth it to buy the car in her name? Whats the premium like for our age range?
Lastly, any other recommendation of cars with similar price range of $50k - below $65K cars? -
OPC is not about whether COE is cheap or not. No matter how high or low the COE is, if you really need a car for your work and daily activties, you'll get one, at any cost. OPC is for pple who don't need the car during weekdays, as they don't need to drive to work (or if the parking at their workplace is too $$$, and so you'd rather take public transport instead).Originally posted by carmour:COE is so cheap now. Is it worthwhile to get OPC?
It really adds up knowing that you save $800 per year over 10yrs plus $17K upfront for a total of $25K. In most other countries (maybe all other countries) you can get a brand new car for that amount.
Its bad enough we're paying through our arse in Singapore just to own a car (Some pple mentioned using one-third of their pay for the car?? That's totally ridiculous if you ask me!!). So should you get a normal car and let it sit at the parking lot most of the time if you're not using it actively?
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100 is a good guide for OPC Vios, cause Vios is known to be a fuel saver. But then again, have to see how you drive and where you drive. If you drive to work during non-peak hours, you will be looking at 200-250 per month.Originally posted by nick28:me tempted to get a toyota vios auto OPC at $57,776, so after rebate is $40,776. With a downpayment of $3776, loan will be $37,000. Based on 2.2% for a 7yr loan, the monthly instalment is about $500. on a 10 year loan at 2.4%, the monthly instalment is about $375. (based on HSBC's 1 year interest rebate)
based on a $100 petrol per month and open carpark of $65, it works out to be $665 per month for a 7 yr loan. Thats like 25% of my take home pay. Do u guys think its ok to spend this proportion of pay in a car? Just need some views. Thanks.
just curious, how much petrol do u guys use for an OPC per month? Also, how frequent do u need to service an OPC scheme car? How much is a round of maintenance servicing?
In addition, how much is the road tax for a 1.5l vios after the $800 rebate?
I am currently 29 with a year's licence. My wife is 28 yrs old with 7yrs licence. Is it more worth it to buy the car in her name? Whats the premium like for our age range?
Lastly, any other recommendation of cars with similar price range of $50k - below $65K cars?
For me, I set aside 1k (half of my take-home) for the car for just in case senario. In actually fact only spend about 800. Better to calculation how much you need to survive, keep some for rainy days, especially since you are married.
Car under your wife's name should be better. Or should I say insurance under her name. Cause a 1 year old license definitely kanna chop by insurance company, no matter how old you are.
As for cars,
Japan: Lancer, City, Swift, Jazz(1k over budget).
Korea: Getz, Cerato.
Others: Aveo, Optra, Gen2.
Above listed are cars people buy nowadays that I actually think worth looking at. Of course always go for the Japanese car first, but if you want to try other variations, please do......at your own risk. -
So the reworked calculations are as follows:
Vios - $57,776
Vios OPC - $40,776
Downpayment - $3,776
Loan for 7 yrs - $37,000
monthly instalment based on 2.2% i/r and 1 yr rebate - $500
monthly carpark - $65
monthly petrol - $100
monthly road tax - $74/12 = $7
miscellaneous (carpark) - $40
monthly insurance - $1,600/12 = $135
car maintenance - ???
Did i miss out anything? Can anyone advise on amt incurred for car maintenance and the frequency? Thanks. -
I went down ubi borneo motors last wk, he said if i wanna get Vios OPC. From his exp, its better to put down 20% downpayment else it will be very hard to get the loan. Can any1 verify this ???Originally posted by nick28:So the reworked calculations are as follows:
Vios - $57,776
Vios OPC - $40,776
Downpayment - $3,776
Loan for 7 yrs - $37,000
monthly instalment based on 2.2% i/r and 1 yr rebate - $500
monthly carpark - $65
monthly petrol - $100
monthly road tax - $74/12 = $7
miscellaneous (carpark) - $40
monthly insurance - $1,600/12 = $135
car maintenance - ???
Did i miss out anything? Can anyone advise on amt incurred for car maintenance and the frequency? Thanks.
i.e: $57,776 - 17,000 = $40,776
20% downpayment = $8155.20
You will need to pay a booking fee of $3150 upfront first. The outstanding amt u will pay 1 wk or 2 before u get the car.
I still havent included the insurance money yet.
Can we include the insurance amt into the total loan amt ???
Thanks !! -
HSBC finances up to 95% so $3776 as downpayment should be fine for me. Insurance cannot be included in the loan amount. Can I check which model u looking at? Auto or Manual? what freebies did they throw in?Originally posted by Saggice:I went down ubi borneo motors last wk, he said if i wanna get Vios OPC. From his exp, its better to put down 20% downpayment else it will be very hard to get the loan. Can any1 verify this ???
i.e: $57,776 - 17,000 = $40,776
20% downpayment = $8155.20
You will need to pay a booking fee of $3150 upfront first. The outstanding amt u will pay 1 wk or 2 before u get the car.
I still havent included the insurance money yet.
Can we include the insurance amt into the total loan amt ???
Thanks !! -
Hi nick28, im looking at Auto Deluxe.Originally posted by nick28:HSBC finances up to 95% so $3776 as downpayment should be fine for me. Insurance cannot be included in the loan amount. Can I check which model u looking at? Auto or Manual? what freebies did they throw in?
There are no freebies, only that the SE said can work out some cash rebates for me (upon my asking). What freebies u've got ?
yes HSBC finances up to 95%. but if getting a OPC, its different. my SE said for OPC, his experience is normally ppl need to pay 20%, else wont be approved... im quite puzzled too abt tis. cos it will be very tight on me if need to pay 20%. -
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same here. when are u getting? I was thinking whether would there be a discount if we buy together. I will probably need to wait till March 05. Can u wait?Originally posted by Saggice:Hi nick28, im looking at Auto Deluxe.
There are no freebies, only that the SE said can work out some cash rebates for me (upon my asking). What freebies u've got ?
yes HSBC finances up to 95%. but if getting a OPC, its different. my SE said for OPC, his experience is normally ppl need to pay 20%, else wont be approved... im quite puzzled too abt tis. cos it will be very tight on me if need to pay 20%. -
Hi, Juz to ask all bros for advise... normally i reach my work place at 7 but i go home between 5.30 to 6.30.. i will not be driving during the peirod. Should i get an OPC or get a normal car? Any advise pls? thanks....
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From what I know, banks approve the loan base on the salary you are getting. I think the monthly installement should be less than a third or quater of your salary, something like that! Anyway, recently Toyota SE got a bit of problem with their attitude, I would strongly advise you to try Honda or Mitsubishi if you are not overly impressed by Toyota's car.Originally posted by Saggice:......but if getting a OPC, its different. my SE said for OPC, his experience is normally ppl need to pay 20%, else wont be approved......
I would advise you to stay in your office until 7pm then drive back. Traffic is smoother then, more relax to drive. So depends on you, if you die die must get out of your workplace ASAP, then OPC doesn't work.Originally posted by Ekit08:Hi, Juz to ask all bros for advise... normally i reach my work place at 7 but i go home between 5.30 to 6.30.. i will not be driving during the peirod. Should i get an OPC or get a normal car? Any advise pls? thanks....