[General] Would you renew 10-year COE or buy a new bike?

[globehart]

Hi,

 

I would like to seek opinions from fellow knights...

 

I'm an owner of TA150 since 22 August 2006; it's a sixth-hand bike from a car instructor. Back then, it was in a very good condition and it has served me well all these while. My bike is used as a transport and to pillion my partner when we go to work. On some weekends, I'll pillion my mum to wherever she likes.

 

Its COE is due to expire on 22 Feb 2009.

 

Now I have to make a decision to either renew the COE or buy a new Phantom.

The only factor is that my mum has been persuading me to buy a new bike because she finds my bike old and she would to like to sit on a new bike.

 

Basing on the current market, is the price of a new phantom worth the buy? I’m 27 this year and I’ve my Class 2B since July 2006.

 

If it was you, what would you do, any pros and cons that I should take note of?

[SNapEl]

If it were me... upgrade license, upgrade to 2a bike...

[globehart]

I just want to maintain my Class 2B. Don't have intention to upgrade to 2A/2

[jB]

If its a 2b transport bike, I'll definitely scrap mine and get a diff bike

[Vonmuck]

Most important question, how is the condition of your current TA150?

 

For example, you already changed the wheels bearings, clutch plates, piston/block, quite new chain/sprockets/tyres, etc.

The bike is in great mechanical shape, except for cosmetics-wise.

 

Renew the COE for 10 years, even after 2 years if you were to sell, surely you will get some money back right?

Or just scrap the bike and get the remaining COE back.

 

The money for a brand new bike is more than enough to renew the COE and do up the bike real nice.

 

However that said, i believe the TA150 is a more durable bike than a TA200.

Have seen how my friend abused his TA150 real badly.

Also he is a heavy guy, around 90kg and he always pillion his 80kg friend.

 

But the TA200 have better fuel consumption and slightly easier maintenance. (Don't need to top up 2T oil.)

[Latsaung]

It is the same topic what I am thinking when my bike COE ends. Except that mine is TA200 and COE ends in 2012.

 

Bro, here's some of my advice. ( Hope you will like it.)

First of all, what is the reason for buying new bike of same model?

If you die die must buy new bike, then just go and buy it. Don't think if it is worth to buy or not. (Because you get what you want and you have to pay for it.)

 

But if you plan to renew COE to continue ride this bike, here's are some of my advice.

 

Your bike worth almost nothing. So take note that after renew COE, may be nobody wants to buy it from you. And it has only COE value. So, just ride until the bike can run. Don't go and do all money drinking things like engine overhaul la, change clutch la, change piston la. Just keep the bike at minimum cost. Ofcourse you cannot trust your bike too much. Don't ride fast.

 

Second thing is you aldy loose money since you buy this bike. So, just renew COE and continue enjoy another 10 years of ride. You wont loose more than Depreciation COE. Someday, if your bike can't move anymore, just scrap it and take back unused portion of COE. You scrap now or scrap later also the same.

 

Eg. here some calculations.

Let's say renew COE costs 1000.

 

$1000/ 10 years /12 months = 8.333. YOUR COE IS ONLY 8.333 BUCKS PER MONTH which is about 2 plates of chicken rice . While you can ride a bike which costs you only $8.333 per month, why you want to waste more than that? Better save money during recession.

 

My advice may be a bit fierce. Do or Die only. I also already planned for my bike. Unless I change to 2A before my COE ends, then it is different story aldy.

 

Hope you would like my advice bro.

[Guest newbie]

times are bad now must budget

[lawbah]

If i were you, ill try and scrap the bike get a 2A bike or change other 2B bike.

 

TA150, though faster and all, it generally consume more petrol and on top of that, still need to top up 2T oil... the EO might have a longer lifespan, but overall it has got higher maintenance...

 

And... TA150 is really not worth much.... i sold mine about 2 years ago, COE ending like 2010 or something for $500.... if you sell yours now, how much do you think you will get..?

 

That 1k maybe ill use it to DP another bike....

 

Really, its how u weigh it out lo... cos a new 2nd hand bike might have its COE ending in 3 - 4 years too...

 

Personally, i think renewing for TA150 is not worth it.

[DragonLee]

if i were u , i will scrap the bike and get a slightly newer or brand new bike. u never know wat prob will your bike give u since its already coming close to 10 yrs. juz my 2 cents.

[bernardk]

Depending on how long you with the bike and do you knw the bike's history. If you know every fault of the bike and you find still worth it to keep the same bike then get the COE lor. Anyway COE can get back in pro rated if you scrape and also if you sell the bike you can also sell a better price with a new COE. So i would say if your bike no problem to you at all GO GET THE COE.

[jB]

I reckon the only ta150 in SG now not worth to scrap is Madman's

[lawbah]

I thought he scrapped his already...?

[jB]

No idea unless he's transferred his stuff to another bike or sth. I'd do my outmost best to show my kids the beauty I've designed/built if it was me. But SG's limitation

[danchen]

also to check, what type of new bike are you looking for ?

imho not many more cruiser type 2b bikes around. even the popular phantom is already EOL. If you're looking for another 2b cruiser, then maybe just renew COE is worth it.

if you're buying another 2nd hand bike, then must also consider the initial extra costs to fix miscellaneous problems that may be inherited from previous owner.

[globehart]

jB: It's my transport bike actually.

 

Garry Ong: Actually I don't really know much about the internal of my bike, but it looks good for a 10-year old bike. Everytime when things happened then I'll get the bike uncle to help me.

 

What I changed in the past half year:

 

Rear bearings in Dec08

Battery in Aug08

Rear brake pump kick, front tyres, front rod seal and front brake pad in Jul08

 

Does the weight really spoil the bike more? I pillion people everyday to and from work. Both our weight will add to about 130kg I think.

 

I top up about 10litres every 200-225 km.

 

Latsaung: I don't "die die" have to buy a new bike, was just comtemplatling because of my mum, she says she'll "sponsor some $" if i do buy a new bike...It's typical auntie's preference to own new things I guess...

 

Is $2800 a year on bike expenses considered minimum cost? I don't really do much for my bike except regular servicing...

 

bernardk: I've been riding this bike since 22 August 2006 and I'm the 6th owner. I had 2 accidents with it. Seriously, if it weren't for me, I think this bike is pretty hardy and don't really give me much problems...

 

danchen: I prefer cruiser and Honda bikes like phantom..Cause I'm not so tall... Actually I didn't know that there are no more new phantoms now thats why I will consider buying new one...

 

SNapEl, DragonLee, newbie: Thanks for your opinions...

 

Latsaung: I like your way of calculations and I think by that, I know that I don't want to buy a new bike now.

 

Actually now my question will be more of whether to extend 5/10 years COE since there are no more new phantoms and $ wise, it's not really worth it...How do I assess if my bike can tahan another 5 or 10 years?

 

The current COE is 1,097!!! a drop of 267 from last month...my COE expires on 22 February 2009, so I've to pay 1097 for 10 years renewal and prorated for 5 years...

[Latsaung]

Ok, lets analyze your problem in different ways and different approach.

 

Since you already decided to renew COE, now we are on the budget route. You have to renew COE in Feb at least with $500 for 5 years.

 

Then you ask yourself a question. Are you able to come out extra $500 now? If you don't pay extra 500 now, you have to pay more than that in next 5 years time. Let's say your bike still can run in next 5 years, but you can't renew your COE anymore. Then you have to change bike. So, end up you pay more than 1000 to renew 10 years COE.

 

Second, if your bike can't run anymore, you scrap it and take back the unused portion of COE. Ofcourse if u sell it to shops, u will loose a bit.

 

So, there is a risk factor. Whether u pay more now and loose less later or you pay less now and loose more later. All depends on you.

 

Another thing to consider is that, you said you are 27 this year. In next 5 years, u will be 32. So, will you be still riding this bike at that age or will u upgrade to car or give up riding if you get married? If you confirm you won't be riding at 32, then no point renewing 10 year COE.

[SNapEl]

Hey bro... something to add... I personally dun find buying a new Class 2B bike worth it. 6-7K for a brand new phantom seems too much when there are very decent 2nd hand ones for 2-3k with 5-8 years COE left.

 

Another option will be to get another 2nd hand bike. Of course may cost more than 1k plus to renew the COE and have to set aside ~3-500 bucks just in case it needs a good servicing or change of wear and tear parts.

[jB]

Just nice, I'm considering selling off my 4 stroke transport bike :rolleye:

[Tetrabike]

Hi, i'm riding TA 150 too, and my COE also ending soon. The bike still serving me very well and I think it still can tahan for many years.

 

But i wonder other cost like insurance and roadtax still be the same for 10 years old bike?

[mepkoh]

coe going down..maybe in 6 moths time coe $1...i would renew then

[O-Y-H]

Hi, i'm riding TA 150 too, and my COE also ending soon. The bike still serving me very well and I think it still can tahan for many years.

 

But i wonder other cost like insurance and roadtax still be the same for 10 years old bike?

 

http://www.lta.gov.sg/motoring_matters/motoring_vo_tax_motor.htm

 

there's a surcharge on road tax for bike more than 10 years.

[lawbah]

http://www.lta.gov.sg/motoring_matters/motoring_vo_tax_motor.htm

 

there's a surcharge on road tax for bike more than 10 years.

 

yes there is....

 

 

btw, $1 is almost impossible... 500 maybe... ill take it at 800

[bernardk]

800 for 10 Years is worth it if you are the first owner of the bike.

[gearone]

COE drop to $900

 

I am also having the same problem as you. Only difference is my COE ending a about 2 months time and considering whether to grab a super 4. Now economy not so good.

 

Bike has served me well so far. The only problem I have to consider is that by renewing COE I need to do a bit of a minor overhaul on the bike as I have not been servicing it that regularly since always thinking of scrapping the bike. Only service done is change EO.

 

Now stuck between a rock and a hard place.

[Figila]

if bike condition is above 7.5/10

u love the bike.. why not renew the coe?renew la=).

if u feel like riding something new.. get a new one i gues

thats my personal opinion...

for me i would walk around look around for new bike that interest me.. if dont have i renew coe=)

Edited January 23, 2009 by Figila
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