Buying a car is a dream for everyone. It is not
easy considering the cost and the other expenses. But there are many agencies
which help you in the matters relating to your car. These agencies specialize
in buying and selling a car. They get you best deals for you. They can also
find good deals when you are looking to get finance for your car.
Should You Change Your Car Or Hold The Same Car?
This is a question that often haunts many people
when their COE is about to end. They need to weigh the options. Many may prefer
buying a new car because it is an opportunity for you to change your vehicle.
You may have risen in status in various ways and would like to own a new car.
But you must consider the negatives of buying a new car.
You must bid for a COE if you want to own a new
car. This can prove to be costly. In addition to this, the new tax after the
introduction of the vehicle emission scheme is prohibitive. Both these are
reasons enough to renew your COE instead of buying a new car.
Renewing Your COE and Paying the PQP
When you want to do COE
renewal you don’t have to bid for it. You can renew the existing COE by
just paying the Prevailing Quota Premium or PQP. There are many agencies that
can help you with renewing your COE. If you are renewing the COE for ten years
you must pay the full PQP. But if you are renewing only for five years then you
need to pay only half the PQP. The drawback is that you cannot renew your COE
again if you opt for the 5-year term. Your car must be deregistered after that.
PQP can be a big financial burden for many
people. This is why there are financial institutions who offer you loans for
paying the PQP. You can get up to 100% of your PQP as loan. The same agencies
that renew the COE will help to get these loans.
Buying Your Cars Easily
It is easy to own a car when there are many
institutions offering loans. But you must find out which bank or financial
institution is providing the cheapest loans. These loans are available for used
cars too if you are unable to afford a new car. There are also many agencies
that can find you the cheapest used
car loan rates and help you secure the loan.
Comments
Post a Comment