I will face the same situation next year. My advice is check your finance situation. If you are comfortable with serving new loan and have cash for downpayment, go book a new ride. The COE will be around this level. Even more scraps next year, gaverment will control the COE not to fall.
with an old car you won't know what will fail next. I already spent almost 3k in last 6 months to fix the gearbox, aircon, engine mounting, wheel bearing. Now I feel the shock absorber may start failing, driving shaft has noise, and will need to change tyres and battery next year if renew. So there will be another 3k next year to spend if renew.
of course renew is definitely cheaper than buying new, but not much.
Renew for 10 years: yearly deprecation: (COE 50k + PARF 8k + Repair est 5k)/10=6.3k per year
Buying new car at 90k: yearly deprecation: 90K /10 = 9k pear year
(with the CEVS rebate thing, no much PARF rebate at end of 10 years.)
