2nd Hand Car...
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Hi all,
Aiming to get a second car for day to day use.Nothing flashy,prefer an SUV.About 2002 register. Price for monthly instalment approximately 400+.Possible?Please advise...thanks
Also,checked out the carmart website,why is it that there is a Paper value,OMV,COE etc.?What prices do they mean and what is the actual amount payable for the vehicle.Also which bank offers the lowest interest rate for loan? -
400 bucks for 2002 suv..? cannot get bro. unless u down alot.
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I mean I don't mind a normal sedan also. But it would be good to be able to get a SUV. Comparing Santa Fe and Jimney and Tucson...which would make more financial sense?
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Financial sense is important cos, the moment you buy the car, the value drops.
You need to understand the base value of the car at the moment which you may de-registering it. This will be the PARF rebate:
http://www.onemotoring.com.sg/publish/onemotoring/en/topwebwide/faqs/faq_deregistration.html
Next is the "Body Value" which is variable from dealer to dealer, but definitely there is a highest price point which only known to the industry player.
So in short, buying car for ordinary folks like me will be to consider:
Loss = Buying Price - Rebate - Body Value (where available)
Note that if the rebate paper exceeds the taxes of new cars, the rebate will be split. The remaining value is usually sold to those who can use it or to the agent at a commission which means additional loss. So try to understand the monies involved. Rebate is only for the purpose of off-setting taxes and has a expiry date.
Cheers. -
Really really confused.Can someone please quote an example.Thanks!!!
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Well, you can take a look here:
http://www.onemotoring.com.sg/publish/onemotoring/en/topwebwide/faqs/enquiry.html
Key the values accordingly and the formula of calculation, you will be able to check the rough value of cars from the following LTA website.
http://www.onemotoring.com.sg/publish/onemotoring/en/lta/enquiries/newreg.html
For financing costs which you seem interested, most car brand website has the financing calculator. The calculator basically calculate the monthly repayment based on 1) loan amount, 2) duration of loan in years and let you know 3) monthly repayment amount.
Every car is different so you will need to find out specifically for each car, because of car price and your down payment.
For example you know when you are re-registering the car, that PARF rebat value at that point of time will be your car value after depreciation.
So simply: (price bought for second hand car) - (rebate price at de-registeration) = (how much money you lose)
Not that difficult to understand right for this basic loss calculation.
If you want to know how to get the values, all can be found at LTA website.
For rebate, you must own your car to find out the car rebate via LTA rebate calculator, where you need your I/C no. and car registrat[url]ion no.
http://www.onemotoring.com.sg/publish/onemotoring/en/lta/enquiries.html
So before you buy a second hand car, you can request the agent to find out for you the PARF rebate of the car through the LTA website as they should have the current owner I/C no. and the car registration no. will be obvious. -
Well, is it worth it for around 45k for a Hyundai Santa Fe?Thanks in advance.What about the Toyota Rav4? Also,is the fuel consumption for SUVs higher compared to saloons/sedans?
Please pardon my stupidity...1st time.Blur Blur... -
Before you read what I have added, which may still be confusing, you can approach your agent to ask them to provide you the information or calculation until you can understand better before you commit to a decision.
What you asked, 45k price is not enough. You also need to have the following information to calculate the annual depreciation of your purchase:
1) OMV ( To calculate together with no.2 )
2) Registration Date ( To know which rebate formula to use, OMV or ARF )
3) COE ( To calculate the COE rebate at de-registration )
The car price will be sold at a value higher than the immediate PARF rebate, so it will be the cost price, as you mentioned 45k.
Method 1: Annual depreciation until COE expires
SG Carmart has some Santa Fe, so take a look and do your calculations to the suggested annual depreciation average of 5000 until the expiry of the COE.
Method 2: Annual depreciation until de-registration of car
Now, lets say you are to de-register the car before 10 years is up since COE date, you can calculate the 5th year PARF rebate value.
So from the moment you buy until the de-registration, you divide the loss over the time to get an annual depreciation for the duration of use of the car. -
Just to share also, which others has suggested in other topics
1. How much the car has travelled: 20 000km in 12 months is a good average
2. is the COE value is high, it just means higher depreciation for you
3. is a new car a better alternative?
4. is loan for used car and new car the same?
5. when is the roadtax for this resale expiring? new car comes with 6 months road tax
6. is the dealer covering the transfer fees for you?
7. is paint job issue? BLACK paint is likely to be full of flaws after 1 year, swirl marks, scratches etc etc
8. are you able to check if car is accident free?
Writing down in a list and slowly checking it at the agent's and the car is best.
No rush, so do it in a comfortable pace.
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Getting a Tuscon or Santa Fe for everyday use will not make financial sense due to high petrol consumption. Abt 7-8km/l.
Getting a Honda Jazz/Fit.......or even the airwave would make more sense -
but what is the price like for the models u listed...want them 2nd hand of course.thanks
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Hi Guys,went to Big Boyz Toyz exhibition,at the Hyundai Booth saw the 1.1L Hyundai Getz going at like $25,500.Is it possible for a new car to be available at that price?Also,saw the Tucson which goes at $50,000, mthly is like $542.Recommendations please...**(does the $25,500 for the Getz include all and everything or just the car itself?**
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25.5k...i think thats for off peak car lah..same for Tucson.Originally posted by SpecOps87:Hi Guys,went to Big Boyz Toyz exhibition,at the Hyundai Booth saw the 1.1L Hyundai Getz going at like $25,500.Is it possible for a new car to be available at that price?Also,saw the Tucson which goes at $50,000, mthly is like $542.Recommendations please...**(does the $25,500 for the Getz include all and everything or just the car itself?**
a tip:choose the Tucson V6 rather than the 2000cc I4 version,the power and acc's quite good..... -
Any idea for a "non-off peak" vehicle for both might be?
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u have to ask the ppl for the price...or as a rough guide refer to the car mags' listing usually at the last few pages...Originally posted by SpecOps87:Any idea for a "non-off peak" vehicle for both might be? -
Hey,also like to check,if getting a 2nd hand car,can get full loan?Wats the interest rate like too.Recommendations of 2nd hand cars as well.thanks
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aiyo pple nowadays very lazy leh.... this type thing should go dealers and ask mah.......