Originally posted by WongCH:
I want to buy a COE car but not enough cash to fully paid.
is there hire purchase available for COE car? i only saw hire purchase for less than 10 years old car..
please help. thanks.
Hi yes....there is hire purchase for COE cars. For example, these:
http://www.sgcarmart.com/main/info-20YxAneo-1003.htmlhttp://www.sgcarmart.com/main/info-20biIkHZ-1031.htmletc
etc
(Read the "Description" sections).
There are some things regarding COE cars you should know (if you still don't):
- Many COE cars have almost no resale value, so you're probably stuck with it.
- COE cars have no scrap value (except for the remaining COE rebate).
- Condition is unlikely to be that good (there are exceptions, if you're lucky).
- Parts may be a difficulty (depending on model and part).
- Road tax is 10% more expensive per year, capped at 150%.
- Fuel consumption is usually high due to old technology and wear and tear.
- You need to bring it for inspection every year (S$100-200 each time).
