Renew COE or enter into EV?
I have been wondering if it is worthwhile to get EV now but could not make a firm decision.
Some context:
Current car Elantra 1.5yr to go, parf rebate is $6k end of 10 years and car body can sell about $2-2.5k getting me at least $8k back if I choose to scrap.
Current mileage already about 210k.
Most of the car wear and tear parts have been replaced last or this year.
Insurance is about $500 and road tax $740 per year.
Regular maintenance done and car is good as new despite the high mileage.
Options available:
If I choose to renew = gamble on whatever COE might be towards end of next year (Praying for good review done and Cat A COE to drop back to around 100k?)
or
Buy a new EV now while rebate is $30k and able to "upgrade" to SUV like Vigo at around $160k+, sell off the Elantra for about $20k+.
or
Wait till next year and buy a new EV after scrapping current car.