Buying < 3 years old car

• jackt

  22 Jul 04, 18:32

  I'm thinking to buy a < 3 years old car. May be a City or in the same range. Drive for a few years than sell it away (buy new one).
  
  I've some questions. Please help.
  
  Should I go for OMV or PARF car?
  Does it make a different in getting a 1, 2 or 3 years old car?
  How to know the price is reasonable?
  How to know the car is in good condition (I can't really tell)?
  Any recommendation for a family car?
  
  Thanks
• johncooper

  22 Jul 04, 18:37

  Originally posted by jackt:

  I'm thinking to buy a < 3 years old car. May be a City or in the same range. Drive for a few years than sell it away (buy new one).
  
  I've some questions. Please help.
  
  Should I go for OMV or PARF car?
  Does it make a different in getting a 1, 2 or 3 years old car?
  How to know the price is reasonable?
  How to know the car is in good condition (I can't really tell)?
  Any recommendation for a family car?
  
  Thanks

  buy corolla G9 lor ... good and reliable
• Ah Wei

  22 Jul 04, 22:09

  Originally posted by jackt:

  I'm thinking to buy a < 3 years old car. May be a City or in the same range. Drive for a few years than sell it away (buy new one).
  
  I've some questions. Please help.
  
  Should I go for OMV or PARF car?
  Does it make a different in getting a 1, 2 or 3 years old car?
  How to know the price is reasonable?
  How to know the car is in good condition (I can't really tell)?
  Any recommendation for a family car?
  
  Thanks

  Hi JackT,
  
  Hope these helps..........
  
  1) For cars that is 3 yrs and older (before May 2002 i believe, can't remember the actual date, need some1 to verified), cars Parf value are 80% of OMV and afterwhich is only 65%. Parf is the amount you take back when your car is up to 10 yrs old. OMV normally comes in if you scraped your car prematurely.
  
  2) As explained in point one, it does affect when come to scrapping of car and when sell off.
  
  3) Depends on which model. Maybe you can check the market rate lor. Or alternatively, can let us know the price and model of the car. I'm sure many pple here are more than willing to help.
  
  4) That, you'll know when test drive. Most importantly is to make sure the car is accident free by checking a few things like ....ermmm forget what the thing is call, 'structure' of the car under the bonnet. If accident before color sure will be a bit diff or newer etc. If not, easiest way is to get some expert friend to help.
  
  5) Really depends on what you like. Too many ard. but then more importantly, work within your budget. My neighbour bought a 1.5 yrs old Impreza TS bug eye series at 57k. !st hand abt 75k then i believe, so one yr save abt 12k! Maybe car like this will help.
• flash9933

  23 Jul 04, 13:29

  Originally posted by jackt:

  I'm thinking to buy a < 3 years old car. May be a City or in the same range. Drive for a few years than sell it away (buy new one).
  
  I've some questions. Please help.
  
  Should I go for OMV or PARF car?
  Does it make a different in getting a 1, 2 or 3 years old car?
  How to know the price is reasonable?
  How to know the car is in good condition (I can't really tell)?
  Any recommendation for a family car?
  
  Thanks

  Take note of the different in the PARF values at the 10th year:
  
  1) registered before 5/2002: 80% of OMV
  2) registered between 5/2002 - 2/2004: 65% of OMV
  3) from 3/2004: 55% of OMV
  
  The scrap values also different from the 3 categories. If you buy a new car now, straight away 17.5% of the OMV is gone based on the the scheme with effect from March this year.
  
  Correct me if I'm wrong ... Cheers!
  
  
• May88

  26 Jul 04, 15:44

  Hi,
  
  I hv frd, agent who is willingly to cut his comm. to provide better svs package to customer.
  
  So far, he is very reliable & generous in his freebies / $$ rebates... if u interested can call HP: ******** for further details.
  
  Cheers..
  
  nick34 : pls read 'The sgForums.com Commandments' point 8
• Carny

  26 Jul 04, 23:59

  Originally posted by jackt:

  I'm thinking to buy a < 3 years old car. May be a City or in the same range. Drive for a few years than sell it away (buy new one).
  
  I've some questions. Please help.
  
  Should I go for OMV or PARF car?
  Does it make a different in getting a 1, 2 or 3 years old car?
  How to know the price is reasonable?
  How to know the car is in good condition (I can't really tell)?
  Any recommendation for a family car?
  
  Thanks

  yeap it kinda depend what models u getting..
  if u has the model maybe i can help u check the price?
• cadaver_sg

  8 Aug 04, 07:16

  Originally posted by flash9933:

  Take note of the different in the PARF values at the 10th year:
  
  1) registered before 5/2002: 80% of OMV
  2) registered between 5/2002 - 2/2004: 65% of OMV
  3) from 3/2004: 55% of OMV
  
  The scrap values also different from the 3 categories. If you buy a new car now, straight away 17.5% of the OMV is gone based on the the scheme with effect from March this year.
  
  Correct me if I'm wrong ... Cheers!
  
  

  You are mostly correct. The old system whereby PARF rebate is based on a percentage of the OMV is for vehicles registered before May 2002.
  
  After that, it is mainly based on your ARF, 130% of OMV for between May 2002 to March 2004 registered cars and 110% for March 2004 onwards. This reduces the fixed up-front cost of car ownership. However the PARF rebate, as mentioned earlier, is based on a percentage of the ARF. Since there is a reduction of ARF, the PARF automatically reduces too.
  
  example:
  
  Case 1(<5 years)
  For vehicles registered between May 02 to Mar 04:
  PARF rebate = 75% * ARF(=130%*OMV)
  = 97.5% of OMV
  For vehicles registered Mar 04 onwards:
  PARF rebate = 75% * ARF(=110%*OMV)
  = 82.5% of OMV (This is what you refer to as the 17.5% gone)
  
  Last Case(9-10 years)
  For vehicles registered between May 02 to Mar 04:
  PARF rebate = 50% * ARF(=130%*OMV)
  = 65% of OMV
  For vehicles registered Mar 04 onwards:
  PARF rebate = 50% * ARF(=110%*OMV)
  = 55% of OMV
  
  The cases in between is obtained by a decrement of 5% from case 1 to the last case.
  
  Hope this helps!
• carmour

  8 Aug 04, 09:44

  Originally posted by jackt:

  I'm thinking to buy a < 3 years old car. May be a City or in the same range. Drive for a few years than sell it away (buy new one).
  
  I've some questions. Please help.
  
  Should I go for OMV or PARF car?
  Does it make a different in getting a 1, 2 or 3 years old car?
  How to know the price is reasonable?
  How to know the car is in good condition (I can't really tell)?
  Any recommendation for a family car?
  
  Thanks

  Hi jackt,
  
  If you buy a 1 yr old car, the depreciation will be the highest, followed by the 2 yrs old car, then the 3 yrs old one. that means you will have to fork out more money to own the car every year.
  
  To know if the price is reasonable, you might want to check out some cars from here: http://www.sgcarmart.com
  
  There got abt 300+ used cars to see. But some dun have price listed, can call to ask, then later compare lo.
  To know if the car is in good condition, one simple way is to check the mileage. Above 25,000km per year then the engine has been over-used. Car may break down easily.
  For more tips, can refer to here: http://www.sgcarmart.com/articles/used_buying_guide.php