CAT A: | $41,996 | 995 | |
CAT B: | $45,001 | 1,001 | |
CAT C: | $37,513 | 3,377 | |
CAT E: | $47,001 | 505 |
SwiftQuote will give you the best offer price with no obligations from our network of trustworthy dealers within 24 hours. FREE.
Our scrap dealer / exporter network will handle all the paperwork so you can relax. FREE.
I got $5k more than other bidding websites! Very happy with the service provided
- Nesa
Sell to Direct Buyers with Car Consignment. Our dealer will help you sell at the price that you want.
---- or ----
Quick approval and hassle free car financing at the lowest rates possible!
Get the right car insurance at competitive price.
Can't bear to say goodbye? SwiftQuote gets you the best COE Renewal Loan for your car!
Oneshift Top Picks |
![]() |
Recommended Compact Sedans 6CARS |
![]() |
One For The Outdoorsy Family -... 7CARS |
![]() |
Four-is-Company - Executive 4-... 2CARS |
![]() |
Value-added Executive Transpor... 6CARS |
![]() |
Small Cars for the Budget Cons... 4CARS |
Oneshift Top Picks |
![]() |
Recommended Compact Sedans 6 CARS |
![]() |
One For The Outdoorsy Family -... 7 CARS |
![]() |
Four-is-Company - Executive 4-... 2 CARS |
![]() |
Value-added Executive Transpor... 6 CARS |
![]() |
Small Cars for the Budget Cons... 4 CARS |
The cheaper you buy, the less it depreciates.
(This article was first published by Ming Jie on 22 April 2010)
New cars are no longer as cheap to buy. It will be nigh impossible to see COE prices fall back to the sub-$10,000 levels again. This means that entry-level cars are now priced at where mid-level cars used to be.
If you are in the buying market and compromising means getting a lesser car, the pre-owned section would be where you might want to take a look. To that extent, here are things that you might want to know about pre-owned cars.
Spend less for more
Cars are generally built to last a lifetime as long as you maintain them properly. A discerning buyer will realize that a pre-owned car in the local market here hardly seems to be "used" at all and yet costs considerably less than a brand new one.
To further prove this point, an average Singaporean's mileage per day is estimated by the Government to be about 55km. This works out to be around 20,000km a year. Multiply that by three, and the average mileage a three-year-old car would have done is still well below hitting six figures. Crossing the big 100,000km mark is usually when a car is said to have transited from being still "new" to "old".
Save more in the long run
Smart shoppers prefer pre-owned cars due to the fact that they depreciate less than a brand new car. A car depreciates the most for the first three to four years, after which it will depreciate at a more gradual pace till it reaches its tenth year (end of COE). The reason being that depreciation is tied to the selling price of a car, which means the cheaper you buy, the less it depreciates.
This means if you buy a pre-owned car at its third year, you essentially let the first owner take the brunt of the depreciation (the instant a new car is out of the showroom, it is worth a few thousand dollars less). Assuming you are using the car till its tenth year, you are likely to see savings of over $7000 for a regular car. Savings increase steeply when purchasing pre-owned Continental marques or cars with big capacity engines.
Looking for Subscribe and we'll find the right car that fits your needs and budget. Thank You! Like us to get Selling Tips, Car Reviews and Buying Guides on your Facebook Feed. |