As i like to quantify things, i just needed to do up the following table to see how much savings i make if i were to renew my COE car. Note that the depreciation which i calculate is much more stringent than the depreciation that is thrown around frequently in forums or sgcarmart and the likes because i also took into account the increase in annual road tax, the increase in the mandatory vehicle inspections and the overhaul i did for my old ride.
Just to say:
Annual road tax increases by 10% every year till the 5th year. 5th year onwards, it will remain at 1.5 times times the original road tax.
Mandatory vehicle inspections is required yearly for old cars while brand new cars only need to do inspections on the 3rd,5th,7th and 9th year.
As i am able to use full cash for all three options, ...
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