I'm considering extending the COE period of my car for another 10 years. It has been trouble-free for the last nine years, but will there be major issues if I keep it till its 20th year? I can live with minor issues.
Like any machine, a car at age 10 will require major servicing or the replacing of parts. These would include the suspension, brakes, engine, cooling system, transmission, electricals and perhaps some cosmetic touch-ups of the interior and bodywork.
Most importantly, you must try not to save on any repairs, replacement or overhaul even if the component in question has not shown any symptoms of impending failure.
Avoid second-hand or used parts. This way, major mechanical problems can be prevented and you may not even have to face minor issues.