23 Jun '11, 11pm

Used cars prices are an illusion. Here's how you can pierce the fog of war and make an informed buying decision.

Used cars prices are an illusion. Here's how you can pierce the fog of war and make an informed buying decision.

Second-hand car sales grow as certificate of entitlement (COE) quotas shrivel – that is the reality of Singapore's regulated car market. In the first quarter of this year, 15,441 cars changed owners – more than double the number of new cars sold. At this rate, the number of used-car transactions this year is likely to hit a 10-year high. The trend is expected to continue for another two years or so, before a sizeable cohort of cars registered between 2003 and 2007 start reaching 10 years of age from 2013. Most of these cars will then be scrapped, reversing the downward spiral of COE supply witnessed from 2008. From the numbers, it would seem that used cars are a viable alternative to new cars, whose prices have risen to levels beyond the reach of many salaried buyers. For some new models, prices have practically doubled from five years ago. In that light, going second-hand...

Full article: http://www.asiaone.com/Motoring/News/Story/A1Story2011062...

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