Market Watch: What Cool Used Cars Can We Buy At Half The Price Of Current COE Premiums?

Revised rebates announcements did no favour for car buyers who intended to play the waiting game. An immediate COE surge across the board was predicted, and there we have it - record Cat A premium of S$119k and an Open Cat figure of S$140k are almost unfathomable if you reside anywhere else in the world.

10 years of fresh COE for a six-figure sum forces home the point that driving in Singapore is not favourable unless you’re drawing a more-than-decent salary. Sure, our public transport is first-rate (ahem, TEL hiccup well noted), but most of us would argue that car ownership brings a whole new level of freedom - an experience even car sharing can’t fully replicate.

When the latest COEs were announced, we simply couldn’t get the astronomical sum of 140 grand out of our heads. So for the sake of experimentation, let’s dive into the used cars realm, halve this number to a less mind-numbing, more palatable S$70k, and try to make sense of cars we actually like driving amongst all the financial hurdles we have to overcome. Granted, we won’t get the advantage of a fresh 10-year COE, but the short term financial outlay is way less terrifying via this route.

2020 Suzuki Swift 1.0 Turbo

S$70,000

5 more years of COE, 12 grand depreciation per year - that’s pretty much the best we can hope for in this current climate. Cue the Suzuki Swift. It’s not one most people would think of when looking for a cool car, but we’d argue otherwise.

In a sea filled with unnecessarily high-riding, hefty crossovers, the Swift stays true to its roots, delivering no frills driving fun. It’s a joy to deploy in Singapore’s city streets - zippy, light on its toes and frugal. It’s yours for S$1,000 depreciation monthly.

2021 Opel Corsa 1.2A Turbo

S$65,000

This Corsa variant is developed under PSA ownership, which is why Peugeot’s influences are apparent. That’s no bad thing, as the French know how to swim against the tide, delivering quirky results. And this is reflected in the way it drives - a family hatch by trade can be tricked to trigger the fun end of the scale, thanks to its useful turbo 3-pot generating 230Nm of torque.

A pleasant, whirring sound ensues when you wring its neck, too. The death knell strikes in April 2031 - there’s still some old school, force-fed fun to be had till then.

2009 Subaru Impreza WRX STI

S$69,800

That’s pretty much it for PARF cars - the market simply won’t allow cool cars to “thrive” for bargain basement deals. This is where COE cars step in, widening the playing field. Sky-high COEs make way for rocketing mileages and servicing fees (arguably), but cool finds abound. Here we have a 3rd-gen WRX hatch in STI guise, which in this wacky JDM climate, doesn’t sound like daylight robbery for the price being asked.

A HKS exhaust and front-mounted intercooler keeps its upgraded turbo in top form, while a 6-speed manual brings back the engagement enthusiasts crave. 4 years of COE left and 16 grand depreciation annually might be tough to swallow, but the JDM premium has already been factored in.

2011 MINI Cooper S Countryman ALL4

S$69,800

It’s crystal clear where future MINIs are heading, which is why to experience one built during its peak ICE phase feels right. The Countryman, you can argue, looked like a Cooper viewed through a magnifier. Well, it does, but it has the sales figures as justification. And in S flavour, rivals had their work cut out competing against its impressive style, performance and functionality.

It will still feel fleet-footed, with 0 - 100km/h in well less than 9 seconds. ALL4 makes sure that composure is maintained beyond the edge of grip. In an electrified, dual-motor-setup world preoccupied with lap times, a well-engineered differential from yesteryear will still feel applicable.

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