Connect with us

Hi, what are you looking for?

Lifestyle

Torque Shop: Options for car owners with expiring COEs, Motoring News & Top Stories

Torque Shop: Options for car owners with expiring COEs, Motoring News & Top Stories

I read your column last week about the risk of buying a car now when certificate of entitlement (COE) prices are sky-high, lest I find myself with a car that is worth less than its outstanding loan when premiums slide from 2024. That is sound advice, but what can I do if my car’s COE is expiring soon?

Holding off a car purchase works best for those with more than one vehicle or those who are contemplating buying their first car.

For those owning a car with an expiring COE, it is a bit more tricky.

One option is to buy a used car. While used-car prices tend to move in tandem with those of new cars, it is often possible to still land a bargain in the time of lofty COE prices. Of course, you have to exercise a bit more caution as well. You can follow the tips at this website.

You can buy a car which is seven years or older. This way, you minimise your depreciation and have access to a car until COE prices soften. You also break your cycle of owning an overpriced car, since COE supply follows a 10-year ebb-and-flow pattern.

Another option is to go without a car for the time being. There are a number of car-sharing companies here. This option gives you access to a car without hefty capital outlay, and you do not have to worry about insurance, road tax and, often, parking.

For trips where a car is not necessary, public transport is a good alternative.

You May Also Like

News

A member of Pakistan’s parliament, Sania Ashiq Jabeen was born in Lahore and raised there. She studied at the National College for Drug Administration...

Lifestyle

SINGAPORE – For four decades, Japanese singer and actress Seiko Matsuda has built a following across Asia through a non-stop output of albums, television...

Politics

Almost every April since 1972, the Hash Bash has been held on the Diag of the University of Michigan campus, a free speech event...

News

Grief and joy coexist during Dia de Los Muertos, but Flo Hernandez-Ramos chooses to focus on the celebration every Nov. 2. DENVER — The...