Good and bad for extending your Coe for 10 years more

[Arshavin]

Please comment on your ideas of extending your ride for another 10 years.

[keltanky]

Mercedes is Built to Last.

If want to extend, make sure current ride is well pampered and it's one of the common well-sold model in the world, so that you can still dip into the net for spare parts.

Well pampered ride will served you well.

[keltanky]

Anyway bro, standby for the C205 la.. chio car man

[PearlJam]

Cons of extending for 10 years:

Increased road tax every year by 10% till age of car is 15 years old.

I heard you can only buy 3rd party insurance.

You feel shitty looking at all those newer cars next to you.

 

Pros:

You feel good looking at the guy driving the new car and smirk to yourself how he is going to have to save on parking charges to pay the next month's loan instalment.

You do not have to sign up a huge loan and pay an effective interest rate of 6%

You can nap on Saturday afternoons instead of waxing your new car . . again.

You don't care if your wife decides to buy fish and durians when you send her to the market. 

You do not worry too much where you park and whether some idiot might open his/her doors too carelessly and dent your car.

You look up and thank the stars when you hear a screeching sound and found that some clown has just ran into your back and now you can get a free re-spray of that rear bumper.

Each time you feel a violent vibration when driving, you wonder if a major breakdown is imminent.

The money you save from the monthly installments can go towards buying blue chip shares and after 5 years you have saved and maybe made a 20% asset appreciation, enough to buy the W206.

 

Heehee, joke a bit, sorry  .   .   .   But I think in 10 years time, car ownership will be so damn exorbitant that car ownership will no longer be a talking point, just look at Hong Kong today.  

[solar]

If your car is cat a, it will stay in cat a when u renew, not cat b despite it having bigger bhp.

Assuming the parf is 16k (for c180), extending with around 55k pqp only result in total 7.1k annual dep, compared to a new c of 15k.

For those taking loan... Dun underestimate the interest.. Easily few k to tens of k... unless u pay full for the car..and that may mean opportunity costs in, say, the relatively cheaper stock market now.

And yes...that 7.1k...got spare change even if u budget 5k for repairs annually.

Issue I see, is being old car, may need more trips to workshop, and/or die on roadside the least expected, such as faulty alternator.

Unless, u don't mind going Jap or Korean...

[iMac]

Cons of extending for 10 years:

Increased road tax every year by 10% till age of car is 15 years old.

I heard you can only buy 3rd party insurance.

You feel shitty looking at all those newer cars next to you.

 

Pros:

You feel good looking at the guy driving the new car and smirk to yourself how he is going to have to save on parking charges to pay the next month's loan instalment.

You do not have to sign up a huge loan and pay an effective interest rate of 6%

You can nap on Saturday afternoons instead of waxing your new car . . again.

You don't care if your wife decides to buy fish and durians when you send her to the market. 

You do not worry too much where you park and whether some idiot might open his/her doors too carelessly and dent your car.

You look up and thank the stars when you hear a screeching sound and found that some clown has just ran into your back and now you can get a free re-spray of that rear bumper.

Each time you feel a violent vibration when driving, you wonder if a major breakdown is imminent.

The money you save from the monthly installments can go towards buying blue chip shares and after 5 years you have saved and maybe made a 20% asset appreciation, enough to buy the W206.

 

Heehee, joke a bit, sorry  .   .   .   But I think in 10 years time, car ownership will be so damn exorbitant that car ownership will no longer be a talking point, just look at Hong Kong today.  

Hahaha..good one...

 

I have decided to get an 1996 E200 to replaced my current 9.5 years old ride.

 

Been looking out for one at SGCARMART but no luck so far...

[keltanky]

Hahaha..good one...

I have decided to get an 1996 E200 to replaced my current 9.5 years old ride.

Been looking out for one at SGCARMART but no luck so far...

W210 should have in market.

[MBENZ]

Hahaha..good one...

 

I have decided to get an 1996 E200 to replaced my current 9.5 years old ride.

 

Been looking out for one at SGCARMART but no luck so far...

 

 

May not be able to find easily

 

MB manufactured between 96-98 suffer from wiring problem due to the use of Eco-friendly wiring cable.

 

Many of these wires start to disintegrate causing short circuit.

[keltanky]

Mostly this era is the Daimler&Chrysler. Which had cost savings

[Herbie]

I think Mercedes-Benz are built to last. I will support coe renewal if ur car is not giving you any problem. If u are not those fancy about new model kind. And just want a point A - B vehicle. COE renewal is quite low operating cost compare to a brand new.

But of Cos the feeling is different driving an 10 years car compare to brand new la

[iMac]

I think Mercedes-Benz are built to last. I will support coe renewal if ur car is not giving you any problem. If u are not those fancy about new model kind. And just want a point A - B vehicle. COE renewal is quite low operating cost compare to a brand new.

But of Cos the feeling is different driving an 10 years car compare to brand new la

Agreed...hoping able to find owner selling their E200 one day..hahaha.

[solar]

I think Mercedes-Benz are built to last. I will support coe renewal if ur car is not giving you any problem. If u are not those fancy about new model kind. And just want a point A - B vehicle. COE renewal is quite low operating cost compare to a brand new.

But of Cos the feeling is different driving an 10 years car compare to brand new la

Even if the pqp shoot to 100k, your depre will only be 11-12k annually. Compare that to a new C180 at a lower coe now of 45k.. Selling at 161k with depre around 16k.

The old workhorse is still cheaper.

And yes.. If u miss that 'new car smell', Amazon has the solution..

http://www.amazon.com/Chemical-Guys-AIR10116-Freshener-Eliminator/dp/B002J7VX4Y#Ask

[solar]

Agreed...hoping able to find owner selling their E200 one day..hahaha.

Does anyone knows how much more significant is the cost for keeping an old E vs an old C, assuming they both manufactured around the same time?

[level z]

5 years renewal .. it gives you a chance to change your mind later on ...

[Herbie]

5 years renewal .. it gives you a chance to change your mind later on ...

Never renewal for 5yrs. You are left with no choice after 5yrs. At least 10years coe if you want to get rid there are still buyer. Even if you change your mind after even 1 yr of coe renewal. If coe become real low and you intend to buy new car you can just scrap it and get prorated coe rebate.

[PearlJam]

Never renewal for 5yrs. You are left with no choice after 5yrs. At least 10years coe if you want to get rid there are still buyer. Even if you change your mind after even 1 yr of coe renewal. If coe become real low and you intend to buy new car you can just scrap it and get prorated coe rebate.

 

That is right.  Great advice!!!

 

If you renew for 5 years, the only 'change of mind' you can have is if you want to scrap before 5 years CoE extension is up.  After 5 years, compulsory scrap.

[level z]

i was under the impression that there is an option to extend another 5 years if the initial 5 years is consumed ... 

 

Guess my suggestion is a bad one .. my oversight

 

[PearlJam]

Now that we have dragged you out from "under" your "impression", you are hereby forgiven.  Just buy kopi-O for all in return for waiver of community service.

[level z]

Now that we have dragged you out from "under" your "impression", you are hereby forgiven.  Just buy kopi-O for all in return for waiver of community service.

lol .. on la bro ..

[Darkseid]

When my ride COE expires, i can either renew 10yrs (depending on the prevailing PQP), or if PQP is too high i look fer a used Audi RS5 with low COE to buy over.  Hmmmmm

[iMac]

lol .. on la bro ..

So...everyone on this thread will have 1x kopi-O from you...hahaha....

[keltanky]

Wow that's going to be a lot lei

[level z]

haha  .. I will do what I can ..

[Herbie]

Now that we have dragged you out from "under" your "impression", you are hereby forgiven. Just buy kopi-O for all in return for waiver of community service.

Good idea hee hee