{"id":8284,"date":"2018-11-08T10:37:16","date_gmt":"2018-11-08T02:37:16","guid":{"rendered":"https:\/\/blog.carro.sg\/?p=8284"},"modified":"2025-11-05T17:01:17","modified_gmt":"2025-11-05T09:01:17","slug":"5-reasons-sell-your-car","status":"publish","type":"post","link":"https:\/\/carro.co\/sg\/blog\/5-reasons-sell-your-car\/","title":{"rendered":"5 Reasons to Sell Your Car"},"content":{"rendered":"Letting go of a car usually comes down to the owners\u2019 preference and financial means. But in Singapore, where car ownership costs you an arm and a leg (and more),<\/a> there are other factors that can help you determine when you should sell your car.\r\n\r\nOne of the key important reasons for selling your car is to get a new one, and that is majorly dependent on the Certificate of Entitlement (COE) prices. The other reasons revolve around your needs and of course, the state of your car.\r\n\r\nLet\u2019s take a closer look at the best reasons to sell your car.\r\n

1. Lower COE Premiums = Lower Cost of Ownership<\/strong><\/h2>\r\n\"sell\r\n\r\nThe main reason behind Singapore\u2019s sky-high cost of owning a car is\u2026 COE premiums<\/a>. At its highest, COE premiums have reached up to S$98,000. In 2019, the COE prices had gone up and down the range of $26,000 to $36,000 for Cat A cars, a full $10,000 difference. This fluctuation is what car owners will take note of before they decide whether or not to take advantage of lower premiums and sell the old car.\r\n\r\nAs at May 2020, COE bidding has been suspended in light of Circuit Breaker and there is no current update on when the activity will resume. Post-Circuit Breaker might result in lower premiums, as predicted by Carbuyer SG<\/a>.<\/em>\r\n

2. The Rebate Factor<\/strong><\/h2>\r\n\"why\r\n\r\nWhen you deregister your car before your COE expires, you are entitled to the PARF rebate. If you deregister your car in the first 5 years, you can get up to 75% of your COE value back. With each additional year after this 5-year period, the PARF rebate value will decrease.\r\n\r\nThe allure of a significant rebate is sometimes a good reason to sell your car, especially if having a car is no longer necessary. So, if your car is within this 5-year period and you no longer need it, now is an excellent time to let go of your old car.<\/a>\r\n

3. Excessive Maintenance Costs<\/strong><\/h2>\r\n\"high\r\n\r\nMaintenance costs contribute a significant amount to your car ownership costs. And as the costs accumulate, it can be a deciding factor in whether you should sell your car. If maintenance costs are high and you\u2019re unable to keep up, it might be time for you to let go of your car and find something that\u2019s more reliable. There\u2019s also the case of getting a brand-new car that costs a lot to maintain, making it not worth holding on to.\r\n\r\nTo help you find out if your car is worth keeping, simply add up all the costs of maintenance VS the cost of keeping your car. Your maintenance costs should not exceed 20% of the cost of keeping your car. If it does exceed 20%, then you should seriously consider letting go of your car.\r\n

4. A Pressing Need<\/strong><\/h2>\r\nOur needs change at different stages of our lives. The same goes for your choice of car. From when you\u2019re single and looking for a stylish ride to when you become a parent and need something more functional. Your needs will change.\r\n\r\n\"change\r\n\r\nIf you\u2019re making a transition from singlehood to married life, expecting a baby and just need more space \u2013 it\u2019s a perfect time to let go of your old ride and move on to something that better suits your needs.\r\n

5. Need an Upgrade?<\/strong><\/h2>\r\nWhen your car is causing a lot of problems, you obviously need to upgrade to a new one. But car problems are not the only reason for an upgrade.\r\n\r\n\"what\r\n\r\nIn a country where social status and \u2018face\u2019 matters a lot, selling your old ride can mean so much more than what\u2019s on the surface. Especially in Singapore, where car ownership seems to be more than just for functionality and convenience.\r\n\r\nAs you progress financially, your material possessions tend to progress too. So naturally, sooner rather than later, you\u2019ll need to upgrade your car to fit your status.\r\n

Your Reasons to Sell Your Car<\/strong><\/h2>\r\nUltimately, the final decision to sell your car is yours and yours alone. You should have a thorough financial plan before making the decision to trade in your old car. No matter what your reasons are for selling your car, it\u2019s essential you make a plan and choose the best way to go about doing it.<\/a>\r\n
People also liked:\r\n\r\nPOST CIRCUIT BREAKER: HOW TO SELL YOUR CAR SAFELY<\/a>\r\n9 SUVS IN SINGAPORE YOU SHOULD CONSIDER<\/a>\r\nWANT TO SELL A USED CAR? HERE\u2019S WHAT YOU NEED TO KNOW!<\/a><\/pre>","protected":false},"excerpt":{"rendered":"
Letting go of a car usually comes down to the owners\u2019 preference and financial means. But in Singapore, where car ownership costs you an arm and a leg (and more), there are other factors that can help you determine when you should sell your car. One of the key important reasons for selling your car …<\/p>\n","protected":false},"author":44,"featured_media":8293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[722],"tags":[],"class_list":["post-8284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-car-selling-tips"],"_links":{"self":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/8284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/comments?post=8284"}],"version-history":[{"count":1,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/8284\/revisions"}],"predecessor-version":[{"id":15194,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/8284\/revisions\/15194"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/media\/8293"}],"wp:attachment":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/media?parent=8284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/categories?post=8284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/tags?post=8284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}