help on honda esi 1.6 $188
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hi there could any1 enlighten me ..... isaw this adv in the newspaper stating that
honda esi $188 per month for 6.5 years ..... coe expire 2012
is there any other hidden cost from there and is it worth the buy ..... ?
k tks -
http://www.sgforums.com/?action=thread_display&thread_id=97462Originally posted by raven69:hi there could any1 enlighten me ..... isaw this adv in the newspaper stating that
honda esi $188 per month for 6.5 years ..... coe expire 2012
is there any other hidden cost from there and is it worth the buy ..... ?
k tks
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dont be fool by such advertisement.
remember one thing, NO car agent will pull the price down to spoil the used car market. the price of that particular used car model is roughly the same everywhere. -
for such a car.. u have to probably add in the car breaking down often . high maintence due to the old age of the car. lousy air con . etc etc. and check if whats due for a change before deciding to buy the car cos u might have to change a lot of stuff after u used it for a few mths. just a word of advice. and of course the older the car the higher the insurance. the more the petrol consumption so on and so forth .
CHEERS -
The car may have made accidents, and u may not know. Brake applied too hard... and many more. Most important, can still function for anther 6.5 years.
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well a good guide for the actual price is the other ads u see on the classified, n not the ones that has pics n advertise 10.8k etc. if u look at the 4 line adverts, a coe car would cost at today terms around 20k (90-91 yr) to 26k (93 yr) and up to 30k (93yr hondas) don't waste ur time n go down to those that advert otherwise, 10.8k not enough to even cover coe!
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I had been "conned" into going to these car dealers before. The prices that they put there are just the price for the car exclusive of COE. When you get there then they will pile in the COE which is a huge bulk of the cost. For an ESI 1.6, do expect to fork out between 600 - 700 bucks per month. Initally i wanted to get one but considering the cost and that it is a COE car, its not worth. A few pitfalls to look out for when purchasing COE cars.
1) With the PARF cars being cheap nowadays, you actually pay almost the same amt of instalments per month as the COE cars. ( I bought a 3 year old Honda City VTEC and I pay just slightly more then if I had bought the ESI
2) COE cars are not as fuel economical due to the wear and tear on the engine and drive systems. Tend to have higher chances of breaking down.
3) Road Tax is also horrible for COE cars. 11th year - 110%, 12th year 120%.... 15th to 20th year 150%) For a 1.6l car, per year road tax is abt 900 bucks. So do your math.
4) When you trash your car for PARF cars, you still get back money (depending on model) . BUT with COE cars, you get back ZILCH, ZERO, NOTHING!!!
5) The interest rates for COE cars was 4.5%(6 mths ago) and for a PARF car was only 2.7% for a 7 year loan. (Correct me if I am wrong with the figures) If you work it out, the interest you pay is almost doubled!
Hope all these info will help you in your decision and if I am wrong in any aspect, do feel free to correct me. = ) -
Well the $188pm u saw is most probably the interest they will earn per month from u. expect to pay from 400pm to 600pm.
Overrev has a point. initially i wanted to get a coe car too, just drive for what it is worth n then get rid. no parv nevermind just take cost of car divide by months left equals to my deprec for using. Forgot to take into a/c that if i accident, get back only 12k when i paid 26k for the coe car (no parv what). so dealer earn 14k just like that.
So i turn to parv car. wanted to pay in full so no need to factor in interest, but funds not much. so in the end settle for a 98 lancer for 27k. use for 4 more yrs then scrap can get 10k back. so total deprec is 17k divide by 40over mths=370pm. like that than i can afford,if not got to rely on my other two 'Kar'
Now price of new car loan also around 500-600pm. if you do the maths, might as well get a new car. too bad my funds not so much...