Sunday, April 14, 2013

An RX-8 For Less than a Vios

Update: 16 Apr 2015

It has been almost exactly two years since I first wrote the blog post below. Since then, a few LTA rules changed, and the COE prices have fluctuated while remaining pretty high. My car-culator tool was replaced by CarIQ. But one thing remains constant: the RX-8 is still cheaper than a Vios! Here is a comparison of the cheapest Mazda RX-8, Mazda 3 and Toyota Vios currently on the market (all registered in 2007), and the car with the lowest annual cost is an RX-8. However, it costs about $4000 more per year than 2 years ago!

Original Post: 14 Apr 2013

After my previous post on Buying a Used Car, some people asked if an RX-8 can really cost less than a Vios. So here are the detailed calculations. (Doing these calculations also made me realise that prices have really dropped after the new cooling measures! I bought my car the day before they were announced ...)

The Mazda RX-8. Built in child-locks make an excellent family car.

 First, the listings from SGCarMart. RX-8 lists at $39,800 vs $29,345 for the Vios. Both are 2006 models (about 3+ years remaining).

Next, we pop the essential data into the Car-culator.

And ta-da! The annual cost of the RX-8 is $7,647 vs $7,389 for the Vios.

Ok, well the RX-8 didn't exactly work out cheaper, but would you be willing to pay $20 more per month for an RX-8? (And I definitely did find RX-8's for cheaper than a Vios in my previous research.)

I should add a few caveats for full disclosure. First, my app does not take into account fuel consumption, and the RX-8 will definitely consume more petrol, the final cost depending of course on your usage. Second, the RX-8's rotary engine is more expensive to maintain. I was advised by my Mazda salesman friend to budget about $2k for repairs to a used car, but this increases to $3k for an RX-8.

Why would you settle for this?