Last year February I have written a blog on “Why I Don’t Upgrade My Car”. Then couples of days ago, TK told me that if I am to deregister my car after the 5-years mark, I will get a “penalty”. He asked me to check out http://www.OneMotoring.com.sg and so I did.
The results? If I am to deregister my car on May 7 instead of May 6, for that one day, I will lose S$8. If I am to deregister my car on May 8 instead of May 7, I will lose S$1,826.
Besides, I found out that I will get back close to S$40,000 if I deregister my car on May 7. I bought my car at S$90,000 and that is quite a “linear” depreciation. Besides, car price has dropped so much. My COE was S$34,000. Today, it is less than S$10,000. The tax structure has changed too. So it is about time.
2 replies on “Why I Wish to Upgrade My Car”
Hey Wilfrid, Did you see any Honda car you fancied yesterday afternoon? Can’t wait to be the first person to sit in your new car (hee, hee, hee…) Who else but moi Christopher Lee T.M.
Certainly I will take you for a drive after I get my car … which is like at least 3 months later … 🙂