Anonymous
When is the best time to change my car?
I bough my car for $108,000 in Aug 2014 so its about 4.5 years old. COE then was high at $52k. It is fully paid up now and reaching 40,000km and will be due for a major servicing soon. With the low COE now, can someone advise if its advisable to change my car for a new one now? Cos with the low car prices now, I will make paper losses if I sell now. Which would make more financial sense - to keep to my existing car or trade-in for a new one. Seeking any car guru's advise and thank you.
3
Discussion (3)
Learn how to style your text
Reply
Save
Bang Hong
17 Dec 2018
Sustainable Spender Specialist at Spender Bang
Cost comparison, likely you will lose out abit if you sell or trade in your existing ride for a new ride.
You can do the maths which many people had compared before which usually result in losing monies when they buy new car and forgo the old car (~ 5 years ago on average).
Not on money terms, but spending abit more money to get a new car and a guaranteed car for 10 more years, it might be worthwhile to re-consider, not on money terms but on luxury of having a new car and the certainity that you will have a car to drive for another 10 years.
Reply
Save
You have to do the calculations as it also depends on the new car price.
Don't forget to include th...
Read 1 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts
Related Articles
Related Posts
Related Posts
Ultimately its the selling price of your current car. I have the same question before and I did some checks online for free car valuation and advice. Below are true case study from me:
There's a car selling site that I manage to sell my car for over $3000+ from what dealers quoted me. Can visit https://www.sgcarbrokers.com. Its a free service. Their service adviser AKA car gurus will advice you base on current markets.
They explained in detailed to me on the value of my car and how I shld take advantage of low coe prices currently and coe increase in 2022 to 2023 to over 100k coe.