Drop in OMV

[Jjchsg]

For a $2k OMV, it is no longer $1.6K PARF (that is for something like pre-2002 cars only). Now is 50% of ARF which is 130% OMV. This means that the PARF is at 65% OMV. For $2k, it is $1.3k difference in PARF.

[Kokanadan]

For cars before 5yrs into their COE, it's 75% of 110% ARF.

Hence the PARF difference is 1.6K for 2K OMV.

 

And 130% ARF are meant for cars before Apr 2004, not pre-2002 cars.

[Deadly_ak47]

Thanks for the explanation.

I guess I'll just take it as bad luck and timing then

 

Btw, I just booked my car around 3 weeks ago. OMV fluctuates that fast?

 

My case is applicable to 3 months delivery. Yours is different since its within a month and should not vary too much from the quoted OMV..

 

Perhaps the SE did not provide an up to date info then.

 

Dont buy from him next time

 

I too bought my car at COE $12,600 level but got COE at $9,605.

[Porker]

Check the exchange rate for 3 weeks ago and compare to the current rate. A 2k drop in OMV for a 21k value equates to almost 10%.

 

That means the exchange rate must have shifted by almost 10% as well (which I think did not happen anyway).

 

Sometimes... dealers (be it authorised or parallel) over quote the OMV so that the deal looks much more attractive.

[Familymanz]

So I'll have to swallow this big lemon down?

Sigh, just suffered a dip in COE, and now a dip in OMV... how lucky can one get?!

 

Dipped in both OMV & COE.... u not alone rah...I kena this in Oct also....

 

Live goes on rah

[Schneider79]

Don't think so much. Just wait for your car. Buying a car is a happy thing. Don't fret over 2-3 thousands when you already made a payment of over $40ks...

[Kokanadan]

Yeah man, life goes on.

Just waiting eagerly for the delivery of my ride next week.

[Kokanadan]

That's what I've thought so too.

Anyway, I just took this as a lesson learnt and not fret about it anymore.

 

Just waiting for the delivery to make myself happier.

[Kokanadan]

That's the thing I was unhappy about in the first place.

I thought the SE had over-quoted the OMV to make the deal looks attractive.

I've also done some research to find out about the previous months' OMV and found that it was indeed 21K.

But to my horror, my SE told me that mine was 19K...

 

For forex rate to drop >10% is an alarming situation, and I don't think anything major has happened within these 3 months except for that quake in Taiwan

[Julian]

Hi... this is normal... when i bought my car in 2005. I asked the SE roughly how much is the OMV, not because i am a cheapskate or want to be a nit picker but just to know roughly my dep. per yr. He told me existing cars are around $13.7 to $13.8K, when I got my car, it was $14.8K.... I think my % of fluctuation is almost same as yours even it's a +ve one. You can say that mine is higher instead of lower so i didn't complain but I don't really care after I got my car... unless the OMV drop is drastic like $13.8K to $10k which i think will be not acceptable.

[Kokanadan]

Sentiments exactly.

I just wanted to know the OMV to estimate the break-even period for the new car.

[Vino]

Hi folks,

 

Just want to find out if one has a ground to demand a compensation if there's a drop in OMV?

I was informed that the OMV was 21K when making the booking of a car, but was later told that the actual OMV is only 19K when making the downpayment.

The explanation given was due to the drop in forex rate between EUR-SIN that caused the drop in OMV, but my question would be how come an insignificant drop in the rate cause such a great drop in OMV?

 

As such, I felt cheated as OMV was one of the decision factors and I was specifically told that the OMV is +/- 21K.

 

Can anyone advise?

 

thanks in advance

OMV determines how much margin the AD will take! A 2k drop in OMV translates to $4700 more profit margin to AD!!!

I will demand compensation if it's written in black and white when booking was made!

[Kokanadan]

Finally someone who sees my pain

Unfortunately, I didn't get the SE to write down the OMV in black and white.

Guess it's quite a lost cause for me.

[Vino]

I recently posted a similar topic but what amazed me was no one really seems to bother!

I guess we are the two who really bother to understand what's behind the maths!

 

Anyway, a 2k drop in OMV = loss of 2000x1.1x0.75 = $1650 of future rebate. Why not u try to get more freebies since the OMV is not stated in the agreement.

[Kokanadan]

I guess we're a bit more "calculative" in this sense

I doubt they'll entertain my requests since I've signed on the dotted line and no black and white has been written down.

 

I'll still give it a shot though. Probably some free servicing?

[Vino]

I don't think we are calculative in this sense but more of a well informed buyer!

Honestly, I'm sure most if not all buyers will jump if they know that a drop of 2k OMV can cheapen the selling price by $4700!

[Kokanadan]

That's what I've thought so initially but based on the previous response, it doesn't seems to bother others.

[Vino]

On the other hand, if actual OMV goes up it's very unlikely for AD to ask for top up so it really depends how u negotiate for the deal during booking.