ACROSS THE CAUSEWAY <strong>JAN</strong> <strong>2011</strong> <strong>•</strong> <strong>PAGE</strong> 34AWAKENED TO OURMADNESSWhen we put money into a set of numbers, we tend tohaveforget how much it is really worthCash that you can hold with your fingersfeel precious and you will fight nearlyeverything else in the world to makesure you don’t lose it. But when theyare numbers on an online bank accountstatement or say, the sticker price on acar’s windshield, money is that bit moredifficult to quantify.Judging by the number of newregistration cars on the roads since Igot back from Britain, Singaporeansstayed relatively the same – thatRestored replicas like this Ford GT is commonplaceText & Photos: James WongThe M3 is another favourite, extremely popular with good residuals
<strong>JAN</strong> <strong>2011</strong> <strong>•</strong> <strong>PAGE</strong> 35Jaguars are big in the UK, but the XK (especially in R trim) remainsOh, just a TVR and a mkI MX-5 having a break at Greenwich Parkis, mad – regarding purchasing cars.The Certificate of Entitlement (COE),a rubbish piece of paper anywhereelse but our legal tender to drive, hasrecently hit new highs. Before we getused to the high prices and then adjustourselves to them again, let’s put themin perspective. Many people say youcan buy a brand new car a few monthsago with what you’re paying for a CatB COE now. But that’s not the fullstory. Not only could you have boughta brand new car, you could probablyhave also used the money to buy aused E92 M3 back in the UK. Okay, I dorealise that comparing both countries isjust something that shouldn’t be done,given that cars will always be cheapernearly anywhere else in the world. Butputting into perspective what we payfor COE is crucial. If you’ve been tellingyourself ‘Actually, it is not that bad. Itmight even be higher next year.’ thenyou need a reality check. $72k for alicence to drive for 10 years is way toomuch to pay for anybody who is evenremotely sensible. Don’t do somethingso foolish like buying a new car. You willmost certainly regret it, and it isn’t truethat you haven’t got any options.new one. Honestly, a well-maintainedoldie would run fine (well, as long as itisn’t an Alfa) and if you go for the gemsof the generation, I guarantee you thatyou’ll be in for a treat.I know I certainly did. Many peoplehave questioned my wisdom in buyinga 20-year old Golf in the UK. But tryingPorsches reign in the UK, whether old or new, they are everywhereto explain what a GTI is to a layman isnot simple, as the car feels and looksrelatively similar to the bog-standardGolf in the driveway.But drive the lightweight car propelledby its lively 1.8L 8V engine and you’llwax lyrical about what the people innew cars are missing. Things are a lotYes, that’s 10k quid for a 3ersimpler 20 years ago. Cars drive better,they are cheaper, they are characterful.Give the 8V a bootful and it still soundsmenacing. Try that in a MkVI GTI andyou’ve got to hit above 3-4ks in thetachometer before you can even get anymeaningful sound. And coincidentally,20 years ago the COE didn’t exist. Howjoyful life must have been then.Go for an old car, but something witha fresh new 10-year COE bought afew months ago. If you call yourself ancar enthusiast you won’t see an oldcar as being actually ‘old’, but rathersomething that is just different from aA familiar sight in the cityThe XJ has been making a massive presence in London