2nd hand car
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Hi guys
Would like to have some assistance from those experience in buying 2nd hand car.
Wish to check with you
1. 2nd hand car buy those just renew COE better or those less than 10 years but around 5 years old
2. Manual or auto advisable for 2nd hand car
3. Usually the interest rate how much (for new car how much huh)?
4. I should request the dealer or owner to send for inspection?
5. Which model of 2nd hand car you guys recommend (1500cc or 1600cc range).
6. Any standard procedure of purchasing a 2nd hand car? -
Hi, hope the following helps:-Originally posted by CarDreamer:Hi guys
Would like to have some assistance from those experience in buying 2nd hand car.
Wish to check with you
1. 2nd hand car buy those just renew COE better or those less than 10 years but around 5 years old
2. Manual or auto advisable for 2nd hand car
3. Usually the interest rate how much (for new car how much huh)?
4. I should request the dealer or owner to send for inspection?
5. Which model of 2nd hand car you guys recommend (1500cc or 1600cc range).
6. Any standard procedure of purchasing a 2nd hand car?
1) Definitely less than 10 yrs old car cos at least there's still a parf for it, and it's gonna come in handy if you decided to get a car after that.
2) Depends on your preference, and the condition of the car. Mileage does play a part. But the point to take note is that if you are to repair the gear box of a car, manual one are cheaper.
3) Old car slightly higher interest. Not too sure now but maybe abt 2.7%-3% (not confirm, maybe someone can help). But, a new car interest should be 2.2% - 2.3% for a 7 yrs loan.
4) If possible yes, why not?
5) Not much diff between 1500cc and 1600cc. Most saloon car should have bhp ard 100-110 for these cars. Rd tax difference is not much also, maybe abt $80 more for the 1600cc.
6) There sure is but not sure. If you buy from 2nd hand car mart, rest assured that all will be take care of. -
Are u in the car industry by any chance?
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Who, me?
Ermmm no lar, just a car lover like many of you guys out there
Can only dream of owning a fast car but could not yet afford one.
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What car u currently driving ?
Best to shift to Australia and get fast cars at a cheap price hehe -
I'm currently driving a 2001 Honda Civic Vti (A) 1500cc ES8.
Ermmmm migrate just becos of car
, heh........ seriously never think of that before. So you in Aust or Sg now 
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Thanks for the tips, hm... guess i aim at those less than 10 years but more than 5 years range.Originally posted by Ah Wei:Hi, hope the following helps:-
1) Definitely less than 10 yrs old car cos at least there's still a parf for it, and it's gonna come in handy if you decided to get a car after that.
2) Depends on your preference, and the condition of the car. Mileage does play a part. But the point to take note is that if you are to repair the gear box of a car, manual one are cheaper.
3) Old car slightly higher interest. Not too sure now but maybe abt 2.7%-3% (not confirm, maybe someone can help). But, a new car interest should be 2.2% - 2.3% for a 7 yrs loan.
4) If possible yes, why not?
5) Not much diff between 1500cc and 1600cc. Most saloon car should have bhp ard 100-110 for these cars. Rd tax difference is not much also, maybe abt $80 more for the 1600cc.
6) There sure is but not sure. If you buy from 2nd hand car mart, rest assured that all will be take care of. -
Hrmm the Vti is a good and reliable car.Originally posted by Ah Wei:I'm currently driving a 2001 Honda Civic Vti (A) 1500cc ES8.
Ermmmm migrate just becos of car , heh........ seriously never think of that before. So you in Aust or Sg now
Nah I'm in Sing now, was in Aust before.
Hehe no need to migrate lah, maybe in the future can get PR or something then will rethink working there for a short while. -
How to get PR???
Sound like Singapore difficult to surviveOriginally posted by tripp_4:Hrmm the Vti is a good and reliable car.
Nah I'm in Sing now, was in Aust before.
Hehe no need to migrate lah, maybe in the future can get PR or something then will rethink working there for a short while. -
Hi
If i want to get a 1996 or 1997 car... u guys got any model to recommend?Originally posted by tripp_4:Hrmm the Vti is a good and reliable car.
Nah I'm in Sing now, was in Aust before.
Hehe no need to migrate lah, maybe in the future can get PR or something then will rethink working there for a short while. -
Tripp.............. yup, Vti enginer is good, but then kinda lack power nowsaday. Nevertheless, quite satisfied with it for the moment. That's the most I can afford now anyway...... haha, so just grumble a bit but no complains................
Car Dreamer........ So what's yr budget like? Maybe can suggest based on that. -
PR is hard to get, but once u gotten it 2/3 of the proccess is done liao, usually 2 years working experience is needed in a suitable industry is the basic. And of course theres a list of other stuff to meet. Check out DIMIA if you are really interested
search for it in google -
Thanks for you info
Originally posted by tripp_4:PR is hard to get, but once u gotten it 2/3 of the proccess is done liao, usually 2 years working experience is needed in a suitable industry is the basic. And of course theres a list of other stuff to meet. Check out DIMIA if you are really interested search for it in google -
Thanks for you infoOriginally posted by tripp_4:PR is hard to get, but once u gotten it 2/3 of the proccess is done liao, usually 2 years working experience is needed in a suitable industry is the basic. And of course theres a list of other stuff to meet. Check out DIMIA if you are really interested search for it in google
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Actually i want a monthly of 400 ++ to 500++ that kind.. but kind of blur oso... then downpayment got to c oso...Originally posted by Ah Wei:Tripp.............. yup, Vti enginer is good, but then kinda lack power nowsaday. Nevertheless, quite satisfied with it for the moment. That's the most I can afford now anyway...... haha, so just grumble a bit but no complains................
Car Dreamer........ So what's yr budget like? Maybe can suggest based on that. -
Well if your really looking for a reliable car of 97 - 98 you probably look for a toyota, mitsu, honda, mazda. These pretty much are quite reliable. Honda's have a history of being chiong cars so don't end up with a dud. Anyway car differ from each other especially old ones being how the previous owner treated it.
What I picked up so far when getting old cars - correct me if I am wrong
Calculate the scrap value of the car you want to buy (can be seen the car's papers) with COE and OMV values
The amount asked for after that is usually for the car body and whatever profit they make, it can range from 5k to 15k or more. You can attempt to knock this price down.
Test driving - dun let the salesmen pressure you into buying after test drive, theres quite abit of things to learn about the car while doing this, how it sounds, how the gears shift etc. I actually didn't know until after I got the car and I found out that the sounds indicated some parts were wearing out.
Then check the engine, mountings, suspension etc, send to a mechanic or bring one along hehe. Usually they can tell immediately what needs replacing. Then use that to Kah the salesmen, ask them to throw in road tax and other stuff too before you commit.
If theres anymore to add please do -
By the way, any 2nd hand car dealer to recommend ???
I used to ride and those bike shop are bloody blood sucker.... wander how bout cars.. same?Originally posted by tripp_4:Well if your really looking for a reliable car of 97 - 98 you probably look for a toyota, mitsu, honda, mazda. These pretty much are quite reliable. Honda's have a history of being chiong cars so don't end up with a dud. Anyway car differ from each other especially old ones being how the previous owner treated it.
What I picked up so far when getting old cars - correct me if I am wrong
Calculate the scrap value of the car you want to buy (can be seen the car's papers) with COE and OMV values
The amount asked for after that is usually for the car body and whatever profit they make, it can range from 5k to 15k or more. You can attempt to knock this price down.
Test driving - dun let the salesmen pressure you into buying after test drive, theres quite abit of things to learn about the car while doing this, how it sounds, how the gears shift etc. I actually didn't know until after I got the car and I found out that the sounds indicated some parts were wearing out.
Then check the engine, mountings, suspension etc, send to a mechanic or bring one along hehe. Usually they can tell immediately what needs replacing. Then use that to Kah the salesmen, ask them to throw in road tax and other stuff too before you commit.
If theres anymore to add please do -
Hi
I think i aim at those 96 to 98 car liao. Nissian Sunny.
Saw in the newspaper 12/98 @ 35k++ , is this price ok?
By the way, how to get loan if buy from dealer and if buy from owner directly?
Hm... it seems that even the monthly instalement is still ard 600+Originally posted by tripp_4:Well if your really looking for a reliable car of 97 - 98 you probably look for a toyota, mitsu, honda, mazda. These pretty much are quite reliable. Honda's have a history of being chiong cars so don't end up with a dud. Anyway car differ from each other especially old ones being how the previous owner treated it.
What I picked up so far when getting old cars - correct me if I am wrong
Calculate the scrap value of the car you want to buy (can be seen the car's papers) with COE and OMV values
The amount asked for after that is usually for the car body and whatever profit they make, it can range from 5k to 15k or more. You can attempt to knock this price down.
Test driving - dun let the salesmen pressure you into buying after test drive, theres quite abit of things to learn about the car while doing this, how it sounds, how the gears shift etc. I actually didn't know until after I got the car and I found out that the sounds indicated some parts were wearing out.
Then check the engine, mountings, suspension etc, send to a mechanic or bring one along hehe. Usually they can tell immediately what needs replacing. Then use that to Kah the salesmen, ask them to throw in road tax and other stuff too before you commit.
If theres anymore to add please do -
Well, a car that age would be roughly abt 26 - 35k, but you need more details like the OMV and COE to make a better estimate. It prob slightly less then 5 years usage. But you would need to go down and actually see it for yourself.
Hrmm loans I'm not too sure, usually 2nd hand car dealers would have their financing plans. For private sellers you probably arrange it yourself.
Cars salesmen can be pushy lah, but there are a few which are quite alright. I had a good experience with one at Roxy 2 at Katong (give you the details if I can find them). But just make sure you don't commit will you know what you want. -
So if around let said the price of 35k, and i need calculate the parf value base on the OMV rite.. then wat i add? parf + 5 year COE price after divide by 12 then times the balance year?
So wat car did you buy from them? can ask for any freebies?Originally posted by tripp_4:Well, a car that age would be roughly abt 26 - 35k, but you need more details like the OMV and COE to make a better estimate. It prob slightly less then 5 years usage. But you would need to go down and actually see it for yourself.
Hrmm loans I'm not too sure, usually 2nd hand car dealers would have their financing plans. For private sellers you probably arrange it yourself.
Cars salesmen can be pushy lah, but there are a few which are quite alright. I had a good experience with one at Roxy 2 at Katong (give you the details if I can find them). But just make sure you don't commit will you know what you want. -
I'm not sure about how parf value works, maybe Ah Wei can shed some light on this.
For COE if the car is about 5 years then the value of the OMV at the time should be about 100%, so it would be roughly 100% OMV + (COE/2)= rough scrap value. Then add about 5 - 10 k for the body.
Usually people look out for a High OMV and Low COE car. at the end of 10 yrs the OMV you get back would be about 80%.
For Loans and stuff you would need to find the interest rates and how long you want to repay for it. Also if a car is on Loan it means you gotta get 1st part insurance, so if you're under 25 and have no NCB (no claim bonus) then be prepared to pay a hefty sum (est maybe 1.5- 1.8k odd), mines insured under my parents so its not tat bad. -
Hello again,
Thought I saw my name, heh.....oppps joking. Okie, ermmm me not quite sure what you wanted to know abt parf, care to elaborate? How parf value figure comes abt? If this is what you want to know, heh.....don't think I can help in anyway. I don't know the formula of working out the parf though I know there is one. Just that car before the yr 2003 May (not too sure of the month) had parf which is 80% of the OMV and after that is only 65%. That's one reason why the cars are able to sell cheaper.
CarDreamer, actually what are you looking at? Errrrmmm the depreciation of the Dec 98 Sunny? Or the monthly installment with Zero Downpayment? By the way, the Sunny is a EX Saloon or Super Saloon? Judging from the value as shwon, i'll expect it to be an EX Saloon. Super saloon is 1.6 while Ex is 1.5l.
If depreciation, then normally we don't add in the interest. So the calculation goes like this (Dec 98 car left 47 mnths and lets say its 35k flat):-
(35000-parf)/47 x 12
Let's pretend parf is 13000k, so
(35000-13000)/47 x 12
22000/47 x 12
468 x 12 = S$5616 per yr depreciation
Frankly speaking, I'll expect the depreciation of a SUPER SALOON to be ard 5.5k-5.7k per yr and an EX saloon to be ard 5k-5.2k per yr, depending on condition etc. So if that car as stated in the paper is a EX Saloon, it might be a bit expensive, unless the parf is 15k at least, which i don't think so.
In fact, one friend of mine just bough a July 2001 Sunny Super Saloon at 54k, with a annual depreciation of 5.5k.
For monthly installment with zero downpayment. You can loan up to 47 mnths loan, and lets take for example the interest is 2.4% (not too sure abt interest but its ard 2.3-2.7%), so you will be paying:-
35000 x 0.024 = 840 interest per yr, and
840/12 * 47 = $70 (interest per month) x 47 = $3290 interest in all.
So all in all, you pay 35000 + 3290 = 38290 for the car.
So monthly will be = 38290/47 = S$814 monthly
Of cos, if you finish driving the car after 47 mnths, you will get back a piece of paper with your PARF value only. And pls bear in mine you did not get back cash. If you intend NOT to drive a car any more after your 10 yrs is up, you have to sell away the paper to some car dealers, which normally they will earn some, such as buying your paper at a 5-10% discount. That's how the things work.
If you find S$814 a month is a bit high, there are other way to make the loan lower, by eating into your parf. Just as for Example instead of paying 814 a month, you pay 700. So everymnth, for the whole of 47 mnths, you save abt $114. But at the end of your 10 yrs for the car, you will own the fiance company $114x47mnths = $5358. So, if the parf of your car is $13000, you will only get back $13000 - $5358 = $7642 ONLY instead. That's how the trick works.
Errmmm of cos you got to take note that if by chance you use this trick, you die die have to drive till your car is scraped. If not, you might lose more money than u expected. Do take note.
One last thing, if you buy a 2nd hand car direct from owner, you can look for a loan yrself, which is actually very simple, so don't worry abt that. Did I miss out anything? If i did feel free to ask. Will share if I can help in anyway.
Cheers~! Good luck in yr search for a car but don't rush! -
Wow, you've sure summed it almost all up. Hats off
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Actuallly I didn't get the car from there, but rather my friend wanted to go for a test drive, some experience from there. The salesmen wasn't pushy type and he after the drive he let us consider it, or offered to find a suitable car. Most interestingly was my friend bought a car from the Automobile Megamart instead but call him for advice hehe, I'm still trying to locate the damn info, but I know its on Roxy 1 or 2 3rd level (The roxy behind the front one)Originally posted by CarDreamer:So if around let said the price of 35k, and i need calculate the parf value base on the OMV rite.. then wat i add? parf + 5 year COE price after divide by 12 then times the balance year?
So wat car did you buy from them? can ask for any freebies? -
Hello
Thanks for the depreciation calculation and those nice information bout the loan.
Warah.. 2nd hand car even monthly is high due to the limited period of the loan. I am more concern bout the monthly instalment. Base on that, and the car growing old... the monthly expense on car will be high..... guess got to find new car and but then got to put downpayment + 10 year loan...
hm...... arrrggggg..... Singapore owning a car so difficult..... i think i got to save longer....
Hee hee... pei sey, u got any information regarding new car??Originally posted by Ah Wei:Hello again,
Thought I saw my name, heh.....oppps joking. Okie, ermmm me not quite sure what you wanted to know abt parf, care to elaborate? How parf value figure comes abt? If this is what you want to know, heh.....don't think I can help in anyway. I don't know the formula of working out the parf though I know there is one. Just that car before the yr 2003 May (not too sure of the month) had parf which is 80% of the OMV and after that is only 65%. That's one reason why the cars are able to sell cheaper.
CarDreamer, actually what are you looking at? Errrrmmm the depreciation of the Dec 98 Sunny? Or the monthly installment with Zero Downpayment? By the way, the Sunny is a EX Saloon or Super Saloon? Judging from the value as shwon, i'll expect it to be an EX Saloon. Super saloon is 1.6 while Ex is 1.5l.
If depreciation, then normally we don't add in the interest. So the calculation goes like this (Dec 98 car left 47 mnths and lets say its 35k flat):-
(35000-parf)/47 x 12
Let's pretend parf is 13000k, so
(35000-13000)/47 x 12
22000/47 x 12
468 x 12 = S$5616 per yr depreciation
Frankly speaking, I'll expect the depreciation of a SUPER SALOON to be ard 5.5k-5.7k per yr and an EX saloon to be ard 5k-5.2k per yr, depending on condition etc. So if that car as stated in the paper is a EX Saloon, it might be a bit expensive, unless the parf is 15k at least, which i don't think so.
In fact, one friend of mine just bough a July 2001 Sunny Super Saloon at 54k, with a annual depreciation of 5.5k.
For monthly installment with zero downpayment. You can loan up to 47 mnths loan, and lets take for example the interest is 2.4% (not too sure abt interest but its ard 2.3-2.7%), so you will be paying:-
35000 x 0.024 = 840 interest per yr, and
840/12 * 47 = $70 (interest per month) x 47 = $3290 interest in all.
So all in all, you pay 35000 + 3290 = 38290 for the car.
So monthly will be = 38290/47 = S$814 monthly
Of cos, if you finish driving the car after 47 mnths, you will get back a piece of paper with your PARF value only. And pls bear in mine you did not get back cash. If you intend NOT to drive a car any more after your 10 yrs is up, you have to sell away the paper to some car dealers, which normally they will earn some, such as buying your paper at a 5-10% discount. That's how the things work.
If you find S$814 a month is a bit high, there are other way to make the loan lower, by eating into your parf. Just as for Example instead of paying 814 a month, you pay 700. So everymnth, for the whole of 47 mnths, you save abt $114. But at the end of your 10 yrs for the car, you will own the fiance company $114x47mnths = $5358. So, if the parf of your car is $13000, you will only get back $13000 - $5358 = $7642 ONLY instead. That's how the trick works.
Errmmm of cos you got to take note that if by chance you use this trick, you die die have to drive till your car is scraped. If not, you might lose more money than u expected. Do take note.
One last thing, if you buy a 2nd hand car direct from owner, you can look for a loan yrself, which is actually very simple, so don't worry abt that. Did I miss out anything? If i did feel free to ask. Will share if I can help in anyway.
Cheers~! Good luck in yr search for a car but don't rush!