Buy a car now or wait a couple of months?

[Ecclesiasm]

Wanted to book my ride this weekend, but was adviced to wait for a couple of months as the prices are expected to fall.

So, what do you think? Will COE prices fall (and therefore wait)? Will car prices fall after the CNY period due to economic down turn? Are car insurance and interest rates expected to rise (and therefore not wait)?

Let's hear your opinions.

 

[Ambious]

Wanted to book my ride this weekend, but was adviced to wait for a couple of months as the prices are expected to fall.

So, what do you think? Will COE prices fall (and therefore wait)? Will car prices fall after the CNY period due to economic down turn? Are car insurance and interest rates expected to rise (and therefore not wait)?

Let's hear your opinions.

Definitely will fall due to market demand. But will u be able to get car loan easily as they will tighten the loan facility.

 

[Giorgio]

I think the crux here,during recession is not how much prices have fallen but how certain one can keep their rice bowl.

 

[Ecclesiasm]

Perhaps we can assume that one has a very stable job... how would you advice then?

 

[Ambious]

Perhaps we can assume that one has a very stable job... how would you advice then?

If one is certain that he has endless flow of income and can pay in one shot, then wait for a few months for the price to fall and buy the dream car he wants.

 

[tsjcsl]

I think price would fall. What with PM Lee telling Singaporeans of harder time ahead...many will stop spending = lower demand = lower price.

If can wait, should wait.

If can don't buy, better still.

 

[takomiSan]

Which dream car are you looking at?

 

[auron]

Wanted to book my ride this weekend, but was adviced to wait for a couple of months as the prices are expected to fall.

So, what do you think? Will COE prices fall (and therefore wait)? Will car prices fall after the CNY period due to economic down turn? Are car insurance and interest rates expected to rise (and therefore not wait)?

Let's hear your opinions.

i guess u should have done some research about cars already...
i say, if u need it, then buy. no need to wait unless u waiting for some specific model.
furthermore, how long do u want to wait? COE is already quite low, not much to drop already...

 

[nightwolf75]

thot the problem is getting a loan for the car, not so much in buying?

the prices are already quite depressed, so said the papers. it is the banks dat are either delaying the loans or not approving them outright even for those with good credit histories. :think:

 

[code]

i think car loans (or any loans) are the problem now (or unless you do not need to borrow much). Better check with banks on car loans...

 

[Ecclesiasm]

Been going around to test drive some cars from Honda, Toyota and Nissan.

It seems that interests rates have either gone up to above the 3% mark (Honda 3.5%, Nissan 3.18%) or will go up by the 7th (next COE bidding). This would be a point to consider for those who will be taking up a loan. One of the SEs cited that many loan applications did not go through despite having excellent credit history. Hence, I guess you guys are correct on the difficulty of getting a loan.

Currently, leaning towards the Civic 1.8 (OMV now ard $27k) or Civic Hybrid.

For the bang of the buck am considering Nissa Sylphy 1.5 and Toyota Altis 1.6.

Any recommendations? :bsmilie:

 

[Lady Ice]

Been going around to test drive some cars from Honda, Toyota and Nissan.

It seems that interests rates have either gone up to above the 3% mark (Honda 3.5%, Nissan 3.18%) or will go up by the 7th (next COE bidding). This would be a point to consider for those who will be taking up a loan. One of the SEs cited that many loan applications did not go through despite having excellent credit history. Hence, I guess you guys are correct on the difficulty of getting a loan.

Currently, leaning towards the Civic 1.8 (OMV now ard $27k) or Civic Hybrid.

For the bang of the buck am considering Nissa Sylphy 1.5 and Toyota Altis 1.6.

Any recommendations? :bsmilie:

Depends what you are looking for.....
-Reduced environmental impact?
-Good fuel economy? (honda's have tended to do well here)
-Easy to park?

 

[Big Kahuna]

If you are prepared, buy it now because COE is really low especially cat B....no doubt it can go either way in coming months but you loose the opportunity cost :lovegrin:

As for car price...Yen is strong, our car tax always peg with OMV so don't think it can go much lower even in bad economy time :sweat:

For the bang of the buck I will go for Altis 1.8 :lovegrin: But my heart is on Civic 1.8 :lovegrin: But my need is Stream 1.8

 

[nightwolf75]

Been going around to test drive some cars from Honda, Toyota and Nissan.

It seems that interests rates have either gone up to above the 3% mark (Honda 3.5%, Nissan 3.18%) or will go up by the 7th (next COE bidding). This would be a point to consider for those who will be taking up a loan. One of the SEs cited that many loan applications did not go through despite having excellent credit history. Hence, I guess you guys are correct on the difficulty of getting a loan.

Currently, leaning towards the Civic 1.8 (OMV now ard $27k) or Civic Hybrid.

For the bang of the buck am considering Nissa Sylphy 1.5 and Toyota Altis 1.6.

Any recommendations? :bsmilie:

if you want FC, AFAIK, nothing comes close in touching either toyota or honda.

but, for me, driving either these 2 brands is like driving the national car... try finding your toyota/honda at suntec carpark, and u will know wat i mean.... ;p

i talked to my agent abt the hybrid, during the crazy fuel prices period in 08. his take is dat unless you are one of those everyday travel from tuas to changi and back a few times in one day kind of driver, you will not be able to amortize (his word.. not mine. i dun even know wat it meant until i came back to check it up) the car.

 

[Lady Ice]

wonder if u'd be interested in an air car:
http://www.mdi.lu/english/

 

[giantcanopy]

I need to buy a property first. Car will have to wait ..

But if u got a stable job / income and you do not mind adding additional depreciating luggage during a recession, why not. This is especially more so when u need it for ur work purposes, this is a good time to buy a car.


Ryan

 

[smalltake]

i guess u should have done some research about cars already...
i say, if u need it, then buy. no need to wait unless u waiting for some specific model.
furthermore, how long do u want to wait? COE is already quite low, not much to drop already...

You sure? I think COE will drop further provided the garmerment dun step in and do some 'funny' things....... maybe stop supply of COE for 3 months... then I believe demands will be back.......:dunno:

 

[WuffRuff]

wonder if u'd be interested in an air car:
http://www.mdi.lu/english/

I like that it is eco-friendly.
When will it be available here?