COE expiring, renew for 5 or 10 years or just scrap and rebuy?

Renewed mine for 5 years last cycle, here is my logic. If your car is genuinely well maintained and you like it, renewing on the PQP (the average of recent COE prices) can be cheaper than buying another car and eating fresh depreciation plus dealer margin. Key point: if you renew 10 years you must pay the full PQP and you CANNOT get any COE rebate when you scrap later, whereas a 5-year renewal is half but strictly non-renewable again after (car must go at end). So 5-year suits older cars near end of life, 10-year suits a solid car you want to keep long. Do a proper inspection first, because pouring money into an old car that then needs a new gearbox is painful. Also factor that older cars fail emission and cost more to insure. I did 5 years because my car had some age, ran it out, then went car-lite. No regrets.