Cars in Singapore have a shelf life of 10 years, thanks to the Certificate of Entitlement system. Hence, most cars in Singapore are considered “newish” versus other developed countries. Due to stiff competition amongst manufacturers, most new cars are now sold with a 5 year warranty and 3yr servicing package. This is great news for consumers as a warranty takes away the hidden costs of an unexpected repair.
If one has the budget, buying a new car would be the best option as you can choose the colour, specifications/options such as a sunroof and enjoy that “new car smell”. A warranty and servicing package would also help you minimise running costs. The car would also be accident-free and be equipped with modern active and passive safety features.
If buying used, i would recommend buying a car less than 5 year old within its warranty period. Buying used means potential savings for the consumer as a 3 year old used car could be 30-50% cheaper than a new car while still being covered by the manufacturer’s warranty. That translates into a lower deposit and downpayment which can go towards the kids education fund.
However, purchasing a used car is not for the fussy – colour and specifications are dependant on what’s available on the used market at that point in time.
Always buy from a reputable dealer who would screen out accident repaired cars or cars with tempered mileage. Visiting a used car dealer can also be a time saving exercise as they would offer a variety of different brands, models, budgets; flexible in-house financing can be arranged. Before you commit, always ask the dealer for a STA pre-evaluation check of the car!
Online new and used car listings: http://www.sgcarmart.com
Recommended Used car dealers: Supreme Cars Pte Ltd (http://www.sgcarmart.com/used_cars/listing.php?DL=3350&AVL=2)
CLEE is an avid motorhead who believes that cars are either fun or practical and that is why he has 5.8L of engine cubic capacity : A 3.4L Coupe and a 2.4L 7-seater SUV.