Review of 2014 and replacement of car
Due to family needs, the priority to record 2014 has moved notches down.
Reviewing 2014 at the beginning of 2015, using the strategy of investing little by little and staying in the market has helped and worked. So we shall not reinvent the wheel. (Do note that this works for me and may not work for others).
In late 2014, we also replaced our Hyundai Accent after it has been used for 10 years and needs to be scrapped due to it's legislated age. The Hyundai Accent has served us well for 10 years and covered 270,000 km with minimum fuss and breakdown. In fact, apart from wear and tear items like brakes, tires, batteries, Engine oil, spark plugs, oil and air filters etc. Most of the items are still working when we scrap it. It did start to 'burn' a little bit of engine oil but that can be managed with regular oil top which is a fraction to a engine top overhaul.
Few things we learned while looking for another used car as the COE prices is still at a high prices of $60-70Ks:
- Know the market of the used car like:
- The buying price of used car dealers will offer (usually very low, sometimes at scrap value)
- The selling price the used car dealer will typically give.
- For us, 8-9 year old cars seems offer best value in terms of depreciation as well as acceptable loss.
- Some time dealers can come in as direct sellers.
- as for maintenance records.
- Forms can be downloaded from One motoring website.