Singapore Honda Club

Hi all，
I wil buy new car in 2016/17. Shd I renew 5 or 10yrs coe or scrap? tks

Renew 10 years
PQP: $47,475
PARF: $10,293
Body: $500 (assume only)
Total: $58,268
Yearly depreciation = $58,268/10 = $5,827 (if drive all 10yrs)

Renew 5 years
PQP: $23,738 (50% of $47,475)
PARF: $10,293
Body: $500 (assume only)
Total: $34,531
Yearly depreciation = $34,531/5 = $6,906 (if drive all 5yrs)

Pros of renew 10yr is lower depr compared to renew 5yr.
Cons of renew 10ys is harder to sell coz higher upfront cost for buyers
PS: so far SgCarMart only seems to be selling renew 5yr civic & did see any selling renew 10yr civic


Scrap
get back PARF $10,293 & buy a left 1 yr civic depreciation fr 10,500+ onwards…



I almost 90+% will buy a new car in 2016 or 2017
should I scrap & buy a left one yr civic?
Or renew coe?
If renew, should renew 5 or 10yrs?
if renew 5 or 10 years, after 1 year of driving, is it possible to sell at a ' fair breakeven price' for a manual transmission?

many tks


current ride: Civic FD1manual
Registered 26 Apr 2006
original Kah Motor fitted Mugen body kit
123,000km
Scrap body value estimated $500 - 1000+ ?

Quite high risk to renew 5/10 years just to drive another 1-2 years

Better to scrap it and get a cheap in between car for the transition period

If renew, better drive it all the way to enjoy and lock in the lower depre


Sent from my iPhone using Tapatalk

Consider...
The health of your current ride. Zero issues?
Ride acceptable to you? manual, boot size, passenger, etc
Intent to make other big purchases like renovation, big investment, etc
Ready with new car repayment?