3 Affordable Used Cars You Can Buy That Are As Good As Brand New

3 Affordable Used Cars You Can Buy That Are As Good As Brand New

Gerald Yuen
Gerald Yuen
14 Dec 2023

The automotive sphere Singaporeans live in can be considered highly unique, with COE quotas dictating vehicle population and premiums influencing buying decisions as far as timelines are concerned. Stratospheric prices impact new car purchases, but have inevitably trickled down to pre-owned cars we once thought were decent value, until record COEs dented hopes for anything worthy of bargain basement deals.

But on the flipside, some thought processes still remain - first buyer depreciation is still relevant under any market condition. We can even argue that the presence of COEs might prevent speculative efforts of selling brand new sheet metal for a profit. Sure, that can be done, but that’s because of the rising trend of COE premiums. BNIB (brand new in box) purchases always hold a premium, so the old trick of scouting for cars that are less than 1 year old remains as appealing as ever.

Toyota Raize 1.0 G

You will not be able to find a brand new Raize in Toyota’s new flagship showroom, but that doesn’t mean it’s a product that should be overlooked. It’s sized perfectly for local roads, and if you’re not convinced by Toyota’s hybrids (by now you should!), a pure ICE Raize can still be bought for way less than S$150k, COE inclusive. Or source for a near-new example like this Raize, with a price tag more accommodating than showroom sheet metal. If the vehicle’s timeline is aligned with your lifestyle and requirements, the monthly payments will work in your favour.

Mazda 3 Sedan (Mild Hybrid)

We have every reason to believe that sedans are here to stay, even if it doesn't seem so just from a simple scan on local tarmac. Sedans deserve recognition, even more so than high riding counterparts. Fingers crossed for kingpins BYD and VW to deliver irresistible value for their Seal and ID.7 EV respectively. But don’t sweat just yet if you prefer your sedans powered by ICE. The current-gen Mazda 3 delivers on all fronts - old school naturally aspirated high revving power delivery mated to an increasingly uncommon 6-speed torque convertor gearbox. It’s a partnership we never knew we’d feel nostalgic for, but boy does it feel good experiencing one now in this sea of electrified offerings. This pre-loved Mazda 3 sedan is all yours, with an annual depreciation that’s at least 10% lower than a new unit.

Renault Captur

If you’re into ICE-powered compact crossovers but don’t intend to blend into the crowd, the Opel Mokka and Renault Captur would do the trick. You could buy them brand new, until August this year at least as Renault has discontinued the Captur. The Mokka is going for well over S$160k a pop, similar to the Captur under current Cat A COE prices hypothetically. Treat it as a bonus if you favour the Captur, for this top-spec unit is perhaps the only near-new (5,000km mileage) contender in the market that bore the brunt of first buyer depreciation.

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