I have been driving Camry since March 2007. The Certificate of Entitlement (COE) was ridiculously low then ($6000). I paid $90,000 for the car then. I was hoping to continue driving the car till expiry of the COE in March 2017. But alas, the steering shaft, vehicle axels, ball bearings in the wheel and even the air condition started to give troubles. The estimated cost of repair is around $8,000. After much calculations, it will be wiser to consider trading in my car for a new one. The trade in value for my car is $26,000, and will continue to nose-dive / depreciate with each passing month. The COE over the past 2 cycles hovered around $58000 - 62000; this is better than the peak of ~$90,000 a few months ago, but still way higher than what it was in 2007. Hence, despite downgrading to a smaller car (Toyota Wish), the bill still comes to a hefty $128,000. It just shows how ridiculous it is to own a car in Singapore!
Test drive both Camry and Wish. Camry is a luxurious car, with stylish finish, comfortable cushions, ventilated seats, additional safety features and in-vehicle accesories to make the ride smooth and enjoyable. Wish is a multipurpose vehicle, catering to the needs of family (7 seater, large boot space to carry large/tall items, lower fuel consumption) with bare essential accessories. The price difference is around $20,000 between the two. Of course, the road tax/insurance premium and fuel consumption are higher for Camry.
Of course, driving a Camry carries a certain amount of pride and status. After much consideration, practicality wins over symbolism. I opted for Wish eventually. My status and achievements should not be dependent on mere vehicle.
Hopefully will be successful in the coming COE biddings, and be able to drive my new Toyota Wish soon.
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| The Old Camry |
Addendum: Collected the New Toyota Wish in mid-October 2015!
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