COE cars are used cars above 10 yrs old, meaning their COEs have been renewed. used cars below 10 yrs old are called PARF cars.Originally posted by noideazz:Hi guys,
I am a newbie here and I really need help. I dun really understand all the things about buying, selling and scrapping a car. I have a scenario here and really need help and opinions from you experts out there.
First of all I intend to buy a car and my mind is set to definitely a COE car and not a new car. As my budget is not that high.
First problem is which type of COE car is value to buy? Is the one that is below 10 years or above 10 years? My maximum budget for monthly instalments would be at most $450 the lesser the better. I definitely would be paying a downpayment of at most $8000.
Second problem would be if I were to get a car that is above 10 years would there still be scrap value after I used it for another 10 years? Meaning to say if let say I bought a 92 Honda civic which the COE will last till 2012 if I were to scrap it after that do I still get any money in return?
Correct me if I am wrong, from what I know is that if the car is less then 10 years and you used it up to its first ten years and you scrap it you will get the PARF value back right? But what about a car that is reaching 20 years stage? Like the scenario I mention.
Third problem I saw ads on the straits times stating 92&93 Honda civic ESI, VTI, asking for $18.8K at monthly installment of $190-310 per month. Is there any gimmicks to these ads? or is this realy value for money?
Last problem, If i were to get a second hand Honda FIT of about only 1 to 2 years old, with a downpayment of $8000 at most can I get to pay a monthly instalment of $450 or less??
Please do help me clarify my problems and confusion. I would be glad if anyone could help. Thanks
Think Fit or Jazz is around 68k now, new. So if you get it new, it is cheaper than the above example by $30/month.Originally posted by imprezaWRXSTi22B:......
honda fit will not meet ur budget. lets say around 55k selling price. down 8k, left 47k instalment. loan 8 yrs (2003 model) at 3.45% interest per year. monthly is $658. this is a rough estimate.
hope this helps.
wbucket's calculation is accurate. any new car below 51k is within ur budget. alot of models to choose from actually. picanto fc is quite good. can hit anything between 15 to 17km/l for manual.Originally posted by noideazz:Thanx peepz. FC is quite a concern for me too. wad is picanto's FC like?? and based on your experience how much do you put aside for petrol monthly?
Originally posted by imprezaWRXSTi22B: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.
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 worked at Bukit batok, stay tampines. Goes out during weekdays and sometime weekdays. My 1 full pump about $43 (30 litre), last me 1.5 week. I drive a kelisa in its burn-in period, now FC 17km/l. I wonder what it would be like after burning in and that I have bush-up my skills.Originally posted by noideazz:Thanx peepz. FC is quite a concern for me too. wad is picanto's FC like?? and based on your experience how much do you put aside for petrol monthly?
new cars r u buy it 1st hand...Originally posted by noideazz:Hi guys,
I am a newbie here and I really need help. I dun really understand all the things about buying, selling and scrapping a car. I have a scenario here and really need help and opinions from you experts out there.
First of all I intend to buy a car and my mind is set to definitely a COE car and not a new car. As my budget is not that high.
First problem is which type of COE car is value to buy? Is the one that is below 10 years or above 10 years? My maximum budget for monthly instalments would be at most $450 the lesser the better. I definitely would be paying a downpayment of at most $8000.
Second problem would be if I were to get a car that is above 10 years would there still be scrap value after I used it for another 10 years? Meaning to say if let say I bought a 92 Honda civic which the COE will last till 2012 if I were to scrap it after that do I still get any money in return?
Correct me if I am wrong, from what I know is that if the car is less then 10 years and you used it up to its first ten years and you scrap it you will get the PARF value back right? But what about a car that is reaching 20 years stage? Like the scenario I mention.
Third problem I saw ads on the straits times stating 92&93 Honda civic ESI, VTI, asking for $18.8K at monthly installment of $190-310 per month. Is there any gimmicks to these ads? or is this realy value for money?
Last problem, If i were to get a second hand Honda FIT of about only 1 to 2 years old, with a downpayment of $8000 at most can I get to pay a monthly instalment of $450 or less??
Please do help me clarify my problems and confusion. I would be glad if anyone could help. Thanks