Repainting your car will decrease resale value?

[Emils]

Hi bros.

 

Hope to get some advice here. I have been asking around and have gotten conflicting answers.

 

Basically, I wld like to find out if respraying your car to the same colour will affect its resale value?

 

Wld the answer be different if I were to respray it to a different colour then?

 

Many thanks in advance!

[Nine_eleven]

i dunno about others here but...

 

its rubbish, we dun have resale value for our cars, period.

 

its always the same story when we wanna sell our cars to dealers... paper value plus body. so if they can't take away the paper value, they deduct from the body... how much can they deduct anyway?

 

personally though, if ur planning to sell ur car in the near future, why waste moeny respraying your car?

 

if ur planning to drive it till end of COE, then go ahead and respray it! ur enjoying ur new coat of paint everyday...

[Emils]

Mm.. I am thinking of repainting somewhere during my car's midlife period, i.e. 2.5 years so that it will last me till I sell it off at around 5 years old... Worth it? Or don't bother? Haha.

[Paul78]

Actually there is some resale value la.

Take for eg. Vios bought in Nov 06 is abt:

Coe:$12k, Omv:$11k.

 

When sell now:

Coe=0.9x$12k=$10.8k

 

Parf value=110%*omv*0.75

=1.1*$11k*0.75

=$9.075k

 

Total paper value=$9.075k+10.8k

=$19,875

 

However, vios bought at Nov 06 can be sell at abt $42k now.

Therefore, surely there is body or resale value involved.

[Emils]

I have a noob question.

 

Assuming I bought a 100K car on a 10-year loan (incl. interest for ease of computation). At the 5 year mark, I manage to find a buyer for the car.

 

Qn 1 - How do I handle the outstanding loan amt of 50K? Do I need to pay up in full before I can sell off the car?

 

Qn 2 - Is the COE usually transferred together with the car or retained by the buyer for his new car?

 

Thanks!

[Paul78]

Qn 1.You dont have to settle before you sell off the car. The money pay by the seller will be used to repay the loan.

 

Qn 2.If I am not wrong, the COE must be transferred together with the car.

[Nine_eleven]

i'm thinking of the same thing! haha! but i'm planning to keep my car beyond the 5th year... only thing is...when should i respray it?... :P

 

ultimately, to respray the ar is for your own enjoyment...and of course...ur own money!

[Sfhuang]

Mm.. I am thinking of repainting somewhere during my car's midlife period, i.e. 2.5 years so that it will last me till I sell it off at around 5 years old... Worth it? Or don't bother? Haha.

 

Don't bother lah.

[Chisiang]

Painting same colour is ok. Changing colour will cost you to lose 1.5k of the initial agreed amount. This is only true if the car is going to be exported.

 

This is because when they export the car to certain countries, the colour of your car must match the colour code on the metal tag that states your chassis no. colour, etc.

 

So they will get your car painted back to initial colour again. condition of dash board can also affect up to $600

[Lionflyer]

chisiang is rite. Exporters will not touch your car if you change the color to a completely different one. So you are left with one less option if you are selling. And exporters are the ones able to give a slightly higher price.

[Picanto]

actually, do the exporters care about the paintwork?