Scrap Value of Cars
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should have a website that give u the scrap value directly after keying in the details
cant remb website address -
The only way to know is to ask the dealer. No other ways.
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not necessary, because if u r juz asking u think the dealer will entertain u with the scrap details? visiting the one motoring website is only possible if you have the vehicle owners' details like NRIC number.Originally posted by sir_boris:The only way to know is to ask the dealer. No other ways.
maybe can check around with your banker friends who are specialise in car loan, they will be able to assist. -
Why dealer wont entertain? Only they will know exact OMV, and COE, and date of registration. Why ask a banker??? Weird.Originally posted by !jasmine:not necessary, because if u r juz asking u think the dealer will entertain u with the scrap details? visiting the one motoring website is only possible if you have the vehicle owners' details like NRIC number.
maybe can check around with your banker friends who are specialise in car loan, they will be able to assist. -
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check with the car dealer..
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You seem pretty knowledgeable about the topic itself... anyway, here's my 2 cents on this issue :-
1) Check out all the cars of the same model to get a feel of the 'market' price
2) Call up dealer and say you are driving xxx model and ask roughly how much they 'eat' this car, to get a gauge of the resale value to dealer
3) Check the PQP COE price (LTA or onemotoring etc) of the date the car was renewed, to get the actual paper value of the car
Always assume that COE cars have no body value in the case of a total loss or self-accident, and that you will only get back the COE rebate.
As for driving it for awhile then reselling, see point 2, and also depends on demand, COE prices, car condition etc... at the point of your sale.
Basically, when you buy a COE car, you are paying premium $ that finance companies and insurance companies DO NOT FULLY RECOGNISE. In their eyes, your COE car is basically just the paper value + maybe a bit of nominal sum. -
Not so smart info. For those who wanna buy a car without knowing the scrap value (means the OMV and COE), all the best.Originally posted by yoshitei:Because a dealer is out to make as much money as he possibly can to cover his overheads. And by telling you the actual scrap value of the car, it is as good as telling you his profit margin – how much he intends to fleece out of you.
Although most banks are in the position to provide you with a valuation of your car, you can rest assured that this is the lowest possible figure you can get in the market.
This move is calculated to minimize their risks.
In addition to the above, banks usually do not finance COE cars – cars past 10 years in age. As COE cars do not have a PARF value, the scrap value of a COE car is only the pro-rated refund of the COE at the time of scrap and perhaps a couple of thousands for the body.
Most buyers of COE cars end up having to secure financing from the dealers themselves, thereby exposing themselves to high interest rates – a dealer at Marina charges 6% pa, MAS regulation they claim – and also exposing themselves to the risk of buying a car that is many times over valued.
Do you think a COE 200SX, Celica or MR2 is worth 30 ~ 40K? How much was the COE when this car was renewed? 20K? If so, then the carÂ’s scrap value after about 5 years should not be anything more then 18K. Around 10K for the COE and 8K max for the body. But IÂ’ll say 3K or less for the bodyÂ…
Of course, most dealers will tell you that the car is well modified by XXX racing garage and has XXX bhp and never been to track, but no receipts, no documentation and no dyno charts. Not forgetting, no warranty.
This is important, because your dyno chart will tell you the fuel consumption of the car and from this, you can gauge on your own if you really can afford to maintain the car – just in terms of fuel consumption.
Back to the main topicÂ…
I am looking for a COE car as what IÂ’ve mentioned above. Therefore, I am hoping that there is a subject expert that can shred me some light when it comes to buying 15 year old 200SX, Celicas and MR2s.
Maintenance is definitely going to be a killer, but it is a matter minimizing risks. Even if STA passes your car, there is not guarantee that the gaskets are not blown and given a patch work just to sell the car.
So, any subject expert here willing to share? -
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