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Own a car affordably in Sinkieland, no COE

Papsmearer

Alfrescian (InfP) - Comp
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Some bros have been KPKB about the high cost of car ownership in Singapore. Yes, its true, its not cheap. But Singkies are too stipid to use their brain. What if I told you that you can own a car for the cost of about $700 a month, all in. In some cases, less. I am talking about actual ownership, not lease or rent. This cost is comparable to many western countries.

First, let's look at the approximate cost of car ownership in Singapore for a new vehicle. As you all know, Cat A car is likely to be in the $100K -150K range, plus say another $65K -$80K COE, then ARF, road tax etc. You are looking at $200K -$225K. Plus you have to pay interest on the car loan, assume its 5 years. That is another $20-30K easily. All in, you could be looking at $250,000K a year for 10 years to own a new Cat A car. So, $2000 + a month, for 120 months, when COE and car loan interest is straightline depreciated and factored in.

If you go to SGcarmart now, and search cars under $10K, surprise you will find lots of them. 133 to be exact. You can see a Kia Cerrato Forte 1.6, asking for $9,900. The COE runs until Sept 2024. So, basically, you have 9 months left on the COE. Mileage is 172K, which is not a lot for a 10 year old car. Of course, you can bargain the price down. Maybe get it down to $9K. At the end of the 9 months, you can bring it to a a scrap car dealer or a car exporter and still get the body value for it. Usually, for this type of cars, maybe you can get $1k for the body value, sometimes more depending on the model. Plus there will be some residual ARF refunded to you too. Normally a few hundred dollars. In most cases, the road tax is already paid for the rest of the 10 year life of the car. In the case of this car, the road tax is paid till June. So, u have to top up another 3 months which is about $300. Therefore, for this 9 months that you use it, the cost of ownership is approximately $7800, or $867/ month.

Of course, there are other cars cheaper then this listed. And also luxury cars like 2004 Merc E320 with only 165000 km COE good until Aug 2024 asking for $9800. It's a classic W211 Avantgarde Merc for that year. This car is actually listed now. For this kind of price, most people have the money in their bank account to buy it. No car loan needed.

For me, I love cars. So, I have a chance to drive a different car every year. Sometimes, 2 cars. LOL. I have one car that I own since new. I have these other cars that I buy cheap. Some people think its laychay to change cars every year. I have no problem with this and enjoy driving different cars. If you want to save some decent money, it will take some work. If people are too lazy to do it, that is their business. Some people say these old cars will break down and cost you money to maintain. I find this has not been the case. I was an armour officer for many years, so I am comfortable checking out a vehicle. I know what to look for. Usually, I stay with Japanese or Korean models, and avoid continental models unless the car intrigues me. Also, I avoid American models. The good thing about Singapore used cars is that Singapore drivers keep their cars in very good shape, and well maintained. The oil change is always done. Many of these older cars, I don't even see a dent in them. And the mileage is low too. In almost 100% of the time, the mileage is under 200K, which for a used car like a Honda or Toyota, it's nothing. Even for a Mercs, its not even breaking the car in. And lastly, remember you are only going to own the car for a few months. If you own to for 5 years, then it's a different matter. You might have maintenance issues like timing belt changes and what not. But it wouldn't have time to manifest itself.

I also find the best part is that if I have to leave town for 1 month or more, I just make sure the COE expires before I leave and so, I am not wasting the money while the car sits idle. For those who buy new cars, if they leave town for 1 or 2 months, they still have to pay car loan. COE depreciation, and Vehicle depreciation over the time they are not in Singapore. I also used these older vehicles to help out an older cousin who had fallen on bad times. He was laid off and unemployed for a long time. He took the test, and I bought him one of these cars, so he can be a Grab driver. He drove it for a few months and made decent money doing it.

Hope this helps bros here think out of the box.
 
Not forgetting that the insurance costs for Korean and Japanese family sedans are pretty affordable too.
Scrap value is 50% of ARF so for the Kia example you quoted can get a minimum payout of 4k+ (variable depending on date of registration) from LTA.
 
Is this what they call it coe car? I.e no more PARF value?
I owned my very 1st coe car in 1998, to1999 period, a late 70s Toyota starlet and paid $10,800 for it, with coe of about 3 years to go.
I think is a bad idea to go for this kind of neither long nor short ownership, and I spent a bomb modifying to suit my taste.
When the coe was up I only took back about $100 in scrape metal, nothing else.

Silly me die die must own a car after getting driving license without any $ in bank acct I remember my bank only has about 2 to 3k for expenditures and no other savings . Upfront paid $3.8k cash by drawing cash in advance from credit card. And took a $7k loan from ah long finance company sime Darby I think becos no bank or institution will loan this kind of purchase.
After driving off the car from the dealer I was so worried that it will break down and I will get mental breakdown :sick:
Surprising this car didn't break down in my entire 3years of ownership.
During those days, I see quite many people driving this kind of coe car I.e cannot afford car but die die want to own car.

Thinking back, it was a silly move but no regrets, as at least I have the experience of owning a car and can cheong whenever I wanted to. Not to mention having various rendezvous with it.
 
Last edited:
Is this what they call it coe car? I.e no more PARF value?
I owned my very 1st coe car in 1998, to1999 period, a late 70s Toyota starlet and paid $10,800 for it, with coe of about 3 years to go.
I think is a bad idea to go for this kind of neither long nor short ownership, and I spent a bomb modifying to suit my taste.
When the coe was up I only took back about $100 in scrape metal, nothing else.

Silly me die die must own a car after getting driving license without any $ in bank acct I remember my bank only has about 2 to 3k for expenditures and no other savings . Upfront paid $3.8k cash by drawing cash in advance from credit card. And took a $7k loan from ah long finance company sime Darby I think becos no bank or institution will loan this kind of purchase.
After driving off the car from the dealer I was so worried that it will break down and I will get mental breakdown :sick:
Surprising this car didn't break down in my entire 3years of ownership.
During those days, I see quite many people driving this kind of coe car I.e cannot afford car but die die want to own car.

Thinking back, it was a silly move but no regrets, as at least I have the experience of owning a car and can cheong whenever I wanted to. Not to mention having various rendezvous with it.

COE car, the COE extended.
 
Some bros have been KPKB about the high cost of car ownership in Singapore. Yes, its true, its not cheap. But Singkies are too stipid to use their brain. What if I told you that you can own a car for the cost of about $700 a month, all in. In some cases, less. I am talking about actual ownership, not lease or rent. This cost is comparable to many western countries.

First, let's look at the approximate cost of car ownership in Singapore for a new vehicle. As you all know, Cat A car is likely to be in the $100K -150K range, plus say another $65K -$80K COE, then ARF, road tax etc. You are looking at $200K -$225K. Plus you have to pay interest on the car loan, assume its 5 years. That is another $20-30K easily. All in, you could be looking at $250,000K a year for 10 years to own a new Cat A car. So, $2000 + a month, for 120 months, when COE and car loan interest is straightline depreciated and factored in.

If you go to SGcarmart now, and search cars under $10K, surprise you will find lots of them. 133 to be exact. You can see a Kia Cerrato Forte 1.6, asking for $9,900. The COE runs until Sept 2024. So, basically, you have 9 months left on the COE. Mileage is 172K, which is not a lot for a 10 year old car. Of course, you can bargain the price down. Maybe get it down to $9K. At the end of the 9 months, you can bring it to a a scrap car dealer or a car exporter and still get the body value for it. Usually, for this type of cars, maybe you can get $1k for the body value, sometimes more depending on the model. Plus there will be some residual ARF refunded to you too. Normally a few hundred dollars. In most cases, the road tax is already paid for the rest of the 10 year life of the car. In the case of this car, the road tax is paid till June. So, u have to top up another 3 months which is about $300. Therefore, for this 9 months that you use it, the cost of ownership is approximately $7800, or $867/ month.

Of course, there are other cars cheaper then this listed. And also luxury cars like 2004 Merc E320 with only 165000 km COE good until Aug 2024 asking for $9800. It's a classic W211 Avantgarde Merc for that year. This car is actually listed now. For this kind of price, most people have the money in their bank account to buy it. No car loan needed.

For me, I love cars. So, I have a chance to drive a different car every year. Sometimes, 2 cars. LOL. I have one car that I own since new. I have these other cars that I buy cheap. Some people think its laychay to change cars every year. I have no problem with this and enjoy driving different cars. If you want to save some decent money, it will take some work. If people are too lazy to do it, that is their business. Some people say these old cars will break down and cost you money to maintain. I find this has not been the case. I was an armour officer for many years, so I am comfortable checking out a vehicle. I know what to look for. Usually, I stay with Japanese or Korean models, and avoid continental models unless the car intrigues me. Also, I avoid American models. The good thing about Singapore used cars is that Singapore drivers keep their cars in very good shape, and well maintained. The oil change is always done. Many of these older cars, I don't even see a dent in them. And the mileage is low too. In almost 100% of the time, the mileage is under 200K, which for a used car like a Honda or Toyota, it's nothing. Even for a Mercs, its not even breaking the car in. And lastly, remember you are only going to own the car for a few months. If you own to for 5 years, then it's a different matter. You might have maintenance issues like timing belt changes and what not. But it wouldn't have time to manifest itself.

I also find the best part is that if I have to leave town for 1 month or more, I just make sure the COE expires before I leave and so, I am not wasting the money while the car sits idle. For those who buy new cars, if they leave town for 1 or 2 months, they still have to pay car loan. COE depreciation, and Vehicle depreciation over the time they are not in Singapore. I also used these older vehicles to help out an older cousin who had fallen on bad times. He was laid off and unemployed for a long time. He took the test, and I bought him one of these cars, so he can be a Grab driver. He drove it for a few months and made decent money doing it.

Hope this helps bros here think out of the box.
Sounds like a used car salesman.
 
I have driven 2 cars paid in full by cash. The first car drove till COE ended. 2nd car still driving.

Car is a depreciating asset. The body value at 10th year is different and much lower than 1st year. TS should compare the difference in body value of a 10th year car in sinkieland and jiu hu, then the picture is closer.
 
COE car, the COE extended.
If I'm not wrong, during coe extension time, they gave a option to extend either 5 or 10 years. If we choose the 10 years one then when 10 years has reached, they will send extension option again. Whereas if we choose the 5 years one then after 5 years have to scrape, cannot extend anymore.
 
If I'm not wrong, during coe extension time, they gave a option to extend either 5 or 10 years. If we choose the 10 years one then when 10 years has reached, they will send extension option again. Whereas if we choose the 5 years one then after 5 years have to scrape, cannot extend anymore.

You are right, and the renewing COE value is based on the pravalent market value. Most japanese and korean cars can be driven beyond 10 years provided you know how to maintain them. When you have no cash shortage, should extend 10 years.
 
Some bros have been KPKB about the high cost of car ownership in Singapore. Yes, its true, its not cheap. But Singkies are too stipid to use their brain. What if I told you that you can own a car for the cost of about $700 a month, all in. In some cases, less. I am talking about actual ownership, not lease or rent. This cost is comparable to many western countries.

First, let's look at the approximate cost of car ownership in Singapore for a new vehicle. As you all know, Cat A car is likely to be in the $100K -150K range, plus say another $65K -$80K COE, then ARF, road tax etc. You are looking at $200K -$225K. Plus you have to pay interest on the car loan, assume its 5 years. That is another $20-30K easily. All in, you could be looking at $250,000K a year for 10 years to own a new Cat A car. So, $2000 + a month, for 120 months, when COE and car loan interest is straightline depreciated and factored in.

If you go to SGcarmart now, and search cars under $10K, surprise you will find lots of them. 133 to be exact. You can see a Kia Cerrato Forte 1.6, asking for $9,900. The COE runs until Sept 2024. So, basically, you have 9 months left on the COE. Mileage is 172K, which is not a lot for a 10 year old car. Of course, you can bargain the price down. Maybe get it down to $9K. At the end of the 9 months, you can bring it to a a scrap car dealer or a car exporter and still get the body value for it. Usually, for this type of cars, maybe you can get $1k for the body value, sometimes more depending on the model. Plus there will be some residual ARF refunded to you too. Normally a few hundred dollars. In most cases, the road tax is already paid for the rest of the 10 year life of the car. In the case of this car, the road tax is paid till June. So, u have to top up another 3 months which is about $300. Therefore, for this 9 months that you use it, the cost of ownership is approximately $7800, or $867/ month.

Of course, there are other cars cheaper then this listed. And also luxury cars like 2004 Merc E320 with only 165000 km COE good until Aug 2024 asking for $9800. It's a classic W211 Avantgarde Merc for that year. This car is actually listed now. For this kind of price, most people have the money in their bank account to buy it. No car loan needed.

For me, I love cars. So, I have a chance to drive a different car every year. Sometimes, 2 cars. LOL. I have one car that I own since new. I have these other cars that I buy cheap. Some people think its laychay to change cars every year. I have no problem with this and enjoy driving different cars. If you want to save some decent money, it will take some work. If people are too lazy to do it, that is their business. Some people say these old cars will break down and cost you money to maintain. I find this has not been the case. I was an armour officer for many years, so I am comfortable checking out a vehicle. I know what to look for. Usually, I stay with Japanese or Korean models, and avoid continental models unless the car intrigues me. Also, I avoid American models. The good thing about Singapore used cars is that Singapore drivers keep their cars in very good shape, and well maintained. The oil change is always done. Many of these older cars, I don't even see a dent in them. And the mileage is low too. In almost 100% of the time, the mileage is under 200K, which for a used car like a Honda or Toyota, it's nothing. Even for a Mercs, its not even breaking the car in. And lastly, remember you are only going to own the car for a few months. If you own to for 5 years, then it's a different matter. You might have maintenance issues like timing belt changes and what not. But it wouldn't have time to manifest itself.

I also find the best part is that if I have to leave town for 1 month or more, I just make sure the COE expires before I leave and so, I am not wasting the money while the car sits idle. For those who buy new cars, if they leave town for 1 or 2 months, they still have to pay car loan. COE depreciation, and Vehicle depreciation over the time they are not in Singapore. I also used these older vehicles to help out an older cousin who had fallen on bad times. He was laid off and unemployed for a long time. He took the test, and I bought him one of these cars, so he can be a Grab driver. He drove it for a few months and made decent money doing it.

Hope this helps bros here think out of the box.
Really a out-of-the-world savvy advice for all
 
Is this what they call it coe car? I.e no more PARF value?
I owned my very 1st coe car in 1998, to1999 period, a late 70s Toyota starlet and paid $10,800 for it, with coe of about 3 years to go.
I think is a bad idea to go for this kind of neither long nor short ownership, and I spent a bomb modifying to suit my taste.
When the coe was up I only took back about $100 in scrape metal, nothing else.

Silly me die die must own a car after getting driving license without any $ in bank acct I remember my bank only has about 2 to 3k for expenditures and no other savings . Upfront paid $3.8k cash by drawing cash in advance from credit card. And took a $7k loan from ah long finance company sime Darby I think becos no bank or institution will loan this kind of purchase.
After driving off the car from the dealer I was so worried that it will break down and I will get mental breakdown :sick:
Surprising this car didn't break down in my entire 3years of ownership.
During those days, I see quite many people driving this kind of coe car I.e cannot afford car but die die want to own car.

Thinking back, it was a silly move but no regrets, as at least I have the experience of owning a car and can cheong whenever I wanted to. Not to mention having various rendezvous with it.
Got play Car Shake aka 车震 before?
 
I would rather buy a high quality PMD not those offered by local mobot inferior low class types.
It can bring me from A to B in a swift manner no parking no fuel nothing.
But gahmen must employ jiuhu kia certis cisco to catch u without providing infrastructure to support the usage. Fuck them and fuck LTA.
 
I would rather buy a high quality PMD not those offered by local mobot inferior low class types.
It can bring me from A to B in a swift manner no parking no fuel nothing.
But gahmen must employ jiuhu kia certis cisco to catch u without providing infrastructure to support the usage. Fuck them and fuck LTA.
Buy car to contribute to Good Nation Building mah
 
Not forgetting that the insurance costs for Korean and Japanese family sedans are pretty affordable too.
Scrap value is 50% of ARF so for the Kia example you quoted can get a minimum payout of 4k+ (variable depending on date of registration) from LTA.
Yes, this is correct. But you have to make sure to de-register before the 10 year mark. U can de-register 2 weeks to one month before it reaches the 10th anniversary and get 50%. In the Kia Cerrato Forte example I used, the original owner paid $13,353. U can get half back. Approximately $6500. Plus body value. Maybe $1000 or more depending if you can get a good price from an exporter. No more COE rebate or very small amount. Also because the car is so old and registered before 2018, there is no VES rebate either. But down the road, if you buy cars registered after 2018, and with a less then a year left before their 10 anniversary, you should also be able to get VES rebate in addition to those mentioned.
 
Is this what they call it coe car? I.e no more PARF value?
I owned my very 1st coe car in 1998, to1999 period, a late 70s Toyota starlet and paid $10,800 for it, with coe of about 3 years to go.
I think is a bad idea to go for this kind of neither long nor short ownership, and I spent a bomb modifying to suit my taste.
When the coe was up I only took back about $100 in scrape metal, nothing else.

Silly me die die must own a car after getting driving license without any $ in bank acct I remember my bank only has about 2 to 3k for expenditures and no other savings . Upfront paid $3.8k cash by drawing cash in advance from credit card. And took a $7k loan from ah long finance company sime Darby I think becos no bank or institution will loan this kind of purchase.
After driving off the car from the dealer I was so worried that it will break down and I will get mental breakdown :sick:
Surprising this car didn't break down in my entire 3years of ownership.
During those days, I see quite many people driving this kind of coe car I.e cannot afford car but die die want to own car.

Thinking back, it was a silly move but no regrets, as at least I have the experience of owning a car and can cheong whenever I wanted to. Not to mention having various rendezvous with it.
Bro, no one mods a Starlet. Its a POS. Most popular and easiest cars to mod are Honda RSX, Toyota Celica/Supra, and Subie Impressa. I think in those years u mention, the Starlet was only 1.1 Litre. Not worth it.
 
Plus don't forget, there are some scams going around too. Not advising bros here to do it. But alot of sinkies buy an old car with a few months left of COE eligibility, and then drive it to JB and sell it on the black market. The criminal gangs there that buy such cars will get new registration and local Malaysia license plate and insurance via bribes to the proper authority. Then the owner file police report in JB, come back to singapore and claim insurance for stolen car. So, he gets paid twice.
 
Bro, no one mods a Starlet. Its a POS. Most popular and easiest cars to mod are Honda RSX, Toyota Celica/Supra, and Subie Impressa. I think in those years u mention, the Starlet was only 1.1 Litre. Not worth it.
I didn't mod the engine side, only shell, seats hifi etc. Just owning 3 years it was a waste of money. That's why I said best is either own it a short time like what you said 9 mths or long period like at least above 5 years.
 
I didn't mod the engine side, only shell, seats hifi etc. Just owning 3 years it was a waste of money. That's why I said best is either own it a short time like what you said 9 mths or long period like at least above 5 years.
OIC. I had a Toyota in those years too, but I only mod the stereo. Put in some Blaupunkt berlins, huge woofer and subs. Crank it up cruising down Orchard road. Everyone turns to stare at this loud punk. LOL.
 
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