Advice please! Renew COE, buy second hand, or buy brand new?

• Pigpen

  6 May 05, 17:24

  Hello!
  
  My car's COE is expiring in about a month and I would like some advice on whether I should renew the COE for 5 years, or buy a second hand car, or buy a brand new car.
  
  Here is my situation:
  
  - Car is Mazda 323.
  - PARF/COE rebate is around $18k
  - Car's in a pretty good shape, so I don't mind keeping it.
  - I will move to another country in another 2-3 years and will sell the car then.
  
  Thanks!
• LH83

  6 May 05, 17:30

  Originally posted by Pigpen:

  Hello!
  
  My car's COE is expiring in about a month and I would like some advice on whether I should renew the COE for 5 years, or buy a second hand car, or buy a brand new car.
  
  Here is my situation:
  
  - Car is Mazda 323.
  - PARF/COE rebate is around $18k
  - Car's in a pretty good shape, so I don't mind keeping it.
  - I will move to another country in another 2-3 years and will sell the car then.
  
  Thanks!

  If you're moving overseas in a few years time... I think it's best just to renew the COE for another 5 years...
• Pigpen

  6 May 05, 17:44

  Yeah, but if I renew COE, the PARF/COE rebate becomes $0 immediately. Let's say the 5-year COE is $10k, that's a total of $28k for 5 years =>$5.6k depreciation per year.
• elfhunter

  6 May 05, 21:17

  Originally posted by Pigpen:

  Yeah, but if I renew COE, the PARF/COE rebate becomes $0 immediately. Let's say the 5-year COE is $10k, that's a total of $28k for 5 years =>$5.6k depreciation per year.

  COE rebate will be zero but there will be still PARF rebate.