Scrap or sell to 2nd hand car dealer?

[Kueijie]

Hi guys,

My Honda Jazz is due for scrap in 4mths time, so my qns is very simple, is it more worth to scrap myself or sell it to 2nd hand car dealer? as in fetching a higher value. Cos i heard before 2nd hand car dealer may export them out to sell n etc or something, is it true?

FYI. My Jazz Reg date: Mar 04. OMV @ $16K

[Othello]

many dealers don't export, they sell to exporters. So approach the exporters directly, there are many companies doing it

Edited November 28, 2013 by Othello

[kazsoft]

My car COE is expiring in 2016. I'll probably drive until the last few months, then decide whether to renew or scrap.

 

A little bit confused about the 'export' part ?

 

Does it mean I have 3 choices? Which one is "better" ?

 

1. Go to a scrap yard and deregister the car.

2. Sell it to a car "exporter".

3. Sell it to someone else.

 

 

Thanks

[Alphas]

Mine is going up in about a year, not sure what to do with it too.

Intend to get another 2nd hand 5 yr old car but may consider renew Coe for 5 years, which is better?

[Joe6057]

Mine is going up in about a year, not sure what to do with it too.

Intend to get another 2nd hand 5 yr old car but may consider renew Coe for 5 years, which is better?

 

Same here.. COE expired next year..

[kazsoft]

With so many cars bought around 2006 when COE was around $10000, just wondering what may happen around 2015/2016.

 

If many people have to buy new car, COE will go up. Then, maybe my old car will worth more if I sell (hopefully.)

 

If many people choose to renew COE instead, then less demand for new COE, COE price may go down.Then renewal fee also be lower, better for existing owners.

 

Hmm...

[13177]

When in 2015/2016, maybe many people will need to give up cars and cannot afford to buy another due to high coe? Cause i guess many people who bought their cars in 2006 could be those people who buy car cause of the low coe, and not genuinely can afford a car?

 

This is the time to filter these group of people and left those who are really have the money to buy another car?!

[Mystupidger]

personally i feel that even though in 2015 to 2017 many cars will be scraping their car, but because many people are waiting for this period, therefore prices will not drop too much, instead it will hover around that price. the coe prices has been hovering around this range for quite a long time already, people become immune to the price and take it as a norm... its just when the garment will remove the ruling of 50percent downpayment only.

[Joe6057]

I doubt they will remove the 50% downpayment. It is a good way to let people think whether they need a car rather then they want a car.

[13177]

personally i feel that even though in 2015 to 2017 many cars will be scraping their car, but because many people are waiting for this period, therefore prices will not drop too much, instead it will hover around that price. the coe prices has been hovering around this range for quite a long time already, people become immune to the price and take it as a norm... its just when the garment will remove the ruling of 50percent downpayment only.

I believe those who are waiting for the coe to drop could be the group of people who really cannot afford a car?! I noticed that even the current coe price is high and the high downpayment rule, those who can afford to buy/change car still proceed as usual.

[Mystupidger]

I believe those who are waiting for the coe to drop could be the group of people who really cannot afford a car?! I noticed that even the current coe price is high and the high downpayment rule, those who can afford to buy/change car still proceed as usual.

Actually we always say that "oh prices are so high, cannot afford" yes, i do believe that there is a small no. of people who genuinely unable to be able to afford but either than that, those who have been owning a car and able to wait till that time. should be able to own the next car and move on. its just up to whether they are unwilling to dumb the money into a liability due to the need for a car. most people who are holding onto their car now, prices are quite high, example. a honda civic 2l bought at a price of SGD70K in 2008.... assuming sells in 2016... he should be able to sell at a price around 30k... even thou he takes a 10 years loan.. he still can take back around 15k (roughly) this 15k can be used to either downpayment for that 50/60 percent plus a top up... and there he goes with another car. this group of buyers would be those either have been working for quite sometime who has a house, or no house and no need a house(as in staying with their parents or something) which is quite a big group already. if we are talking bt those just started to work perhaps 1 to 2 years, then i would say no.... cos they would be more concentrated on buying a house rather than a car. unless they want a car to show off.

[Angkimhan]

Mine is going up in about a year, not sure what to do with it too.

Intend to get another 2nd hand 5 yr old car but may consider renew Coe for 5 years, which is better?

I have decided to sell my 2005 Altis and looking for a 7 yr old car. That is my own ideas. There is no 100% better solution cos market keep on changing everyday..............

[Yahgo22]

any bros just scrap your car recently

 

i was told now a day car body has very low value

 

becoz many cars are going to be scrap

[Raymondism]

anyone knows any exporters?

[Raymondism]

I have decided to sell my 2005 Altis and looking for a 7 yr old car. That is my own ideas. There is no 100% better solution cos market keep on changing everyday..............

 

did you manage to sell?

[Wind69]

There will always be people who can afford the downpayment. Mazda showroom car has even been sold at leng kee. So many rich ppl.

[yo2020]

I have decided to sell my 2005 Altis and looking for a 7 yr old car. That is my own ideas. There is no 100% better solution cos market keep on changing everyday..............

did you manage to sell?

i sold my 2005 Altis with abt 14 mths left via sgcarmart. sold at 4k above current paper value or 6.5k above paper value @ end of 10th yr.

most of 2nd hand car dealers offer abt 1k above current paper value.

Edited June 10, 2014 by yo2020

[Matrix0405]

How do you scrap you own car? You drive to a scrap yard, the person there will do the paper work and pay you the paper value exact (how to nego to get them to pay more?) and you pay your own taxi back?