How will coe prices affect resale car value??

[Rolanto]

By the way, wats the "realistic" resale value for honda fit 2008 now?

 

looking @ Sgcarmart pricing... it looks like 51 - 54k (2nd hand)

[Axela72]

yes. but after the 5th yr, your ride will be much easier to sell compared to others.

 

imagine other cars left with $8k COE after the end of 5th year, assuming OMV same, condition same, your car has to sell lower than the other by $5k - $8k.

 

if u sell lower by $8k, ppl will rush to buy yours. so u can set higher by $2k - $3k. this is exactly wat happened during 2001. those with $101 COE are easier to sell as they are much cheaper compared to those with $30k COE

 

 

Not really. If you bought the COE at $101 yourself, than u can enjoy the fruit. But if this is already included during your car purchase from the AD, the benefit will go to the AD unless there is rebate and depend on how much is the rebate.

 

My friend bought the car from AD with $101 COE price but the rebate he get only 2k. So he have to drive until very very long

[Toyo]

if COE goes up, 2nd hand car prices will definitely go up accordingly. its a demand and supply thing.

 

if demand for 2nd hand car goes up due to expensive COEs, it is only natural for 2nd hand car prices to go up.

 

those who beg to differ, pls state your reasons.

 

and to those who bring paper value in.. your only paper value is your car's OMV + body. COE is losing value every yr. end of 10 yrs, no more liao.

 

i cannot comprehend those who prefer $16k for COE compared to $2 just because you know your car has 'high' paper value? this is a joke man lol

 

 

If planning to drive for short term, buying a used car with high COE is more economical.

Low COE such as $2 sort of 'encourage' owner to drive til scrap

The paper value refers to the PARF (certain % of OMV) plus COE.

[Watwheels]

Depends on how each buyer see it. For me, I try not to buy a car with high coe. Price will be high and in the end you have to fork out more money dan say averaged or low priced coe. Although what you get back is high but you can spend your money on something else instead of locking it on your car.

[Picanto]

as per subject...

 

when it goes up, i will be able to sell higher to agent?

 

nope. only the 2nd hand dealers profit from such a situation. they will sell the car they take in at a HIGHER price.

[D_bergkam]

I don't see how your theory stands.

 

Think about it... If dealers can sell more expensive, of cos they will buy more expensive.

 

If they don't offer higher, someone else will.

You think every car dealer in Singapore gang up to cheat car sellers?

 

 

 

[Carer]

If planning to drive for short term, buying a used car with high COE is more economical.

Low COE such as $2 sort of 'encourage' owner to drive til scrap

The paper value refers to the PARF (certain % of OMV) plus COE.

 

that is correct. do not forget $16k COE equates to additional $1.6k depreciation per year.

 

Low COE will make owners drive till the end of life (10yrs) because it doesn't make sense for the owner to forgo his $2 COE and buy a new car with $20k COE. at the end of 5 yrs, he would have lost $10k instead of $1.

 

i do not know about others, but $10k to me is a lot. at least 10months for me to save up that amount comfortably.

[Kangadrool]

When you are selling:

 

YES: If DIY sell it, but priced it reasonably (not like car dealers type)

NO: If you sell through dealers. Lots of low balls from them and think we are all dumbs! (If they offer to buy in 30K, most likely they will resell it at 40-45K for peasant's car).

 

Worthwhile to consider DIY it at 35-38K??? Win-win for both seller and buyer. Take a quite bit of your time though.

 

When you are buying:

 

YES: both (from direct owner and dealer), expect higher asking price when COE is climbing up.

Edited October 20, 2009 by Kangadrool

[Cy9188]

what car and how old is your car, actually i m looking for a 2years+ used car.

[Axela72]

May I know why when sellng a car, the price is not last time where is the based on depreciation per year anymore? For example you bought a car at 60k, 5yr later when selling, it should selling at 30k or, 3yrs selling at 36k?

 

How come now it become few K + paper value only or maybe with different brand fetch higher price? In this case, the depreciation value become unpredictable.

 

I remember 10 yrs ago when I sell away my car bought at 100k with 3.5 years of ride, I can still manage to sell at 66.5k to 2nd hand car dealer.

 

[Iwanttofuckyou]

of course coe go high up will boost your car value. if coe is 100k, people will always look for second hand and since new car is very expensive, used car price will automatically go up

[Angmokio]

I don't see how your theory stands.

 

Think about it... If dealers can sell more expensive, of cos they will buy more expensive.

 

If they don't offer higher, someone else will.

You think every car dealer in Singapore gang up to cheat car sellers?

 

 

erh, gang up or no gang up, we're are still being chopped.

 

current 2nd hand car market, Dealer buy on paper + body value, sell at depreciaiton.

 

They WANT to keep it that way as long as possible!!

[D_bergkam]

erh, gang up or no gang up, we're are still being chopped.

 

current 2nd hand car market, Dealer buy on paper + body value, sell at depreciaiton.

 

They WANT to keep it that way as long as possible!!

 

That's too simplistic a way of looking at the situation. It seems like that you are just hearing from your friends without finding out the whole big picture on your own.

 

Dealers buying on paper+body is generally only for cars older than 2005 as they buy them for export purposes.

For cars younger than 2005, you try offer paper + body... you see who wanna sell you. Car owners are not idiots. They know how to go sgcarmart compare used car price before selling.

 

 

[Throttle2]

no diff for me.

 

Becos i've always only owned one car at any one time.

So.....

Sell high buy high.

Sell low buy low

Lppl

 

Properties? Thats a whole diff ballgame

[Picanto]

I don't see how your theory stands.

 

Think about it... If dealers can sell more expensive, of cos they will buy more expensive.

 

If they don't offer higher, someone else will.

You think every car dealer in Singapore gang up to cheat car sellers?

 

buy low, sell high. 2nd hand dealers are like that.

[Windchoco]

Not really. If you bought the COE at $101 yourself, than u can enjoy the fruit. But if this is already included during your car purchase from the AD, the benefit will go to the AD unless there is rebate and depend on how much is the rebate.

 

My friend bought the car from AD with $101 COE price but the rebate he get only 2k. So he have to drive until very very long

 

No, that 1 is because the COE suddenly drop... But effectively the price he paid for the car was for a much higher COE. In the case of ppl who bought earlier this year, the selling price is already adjusted for the low COE which was already going on quite a while then.

[Angmokio]

That's too simplistic a way of looking at the situation. It seems like that you are just hearing from your friends without finding out the whole big picture on your own.

 

Dealers buying on paper+body is generally only for cars older than 2005 as they buy them for export purposes.

For cars younger than 2005, you try offer paper + body... you see who wanna sell you. Car owners are not idiots. They know how to go sgcarmart compare used car price before selling.

 

Please lah, this type no need to hear from friend one lah, just drop by any AD/ PI showroom, they only ask for your full name and IC number, maybe ask got leather seat or sports rim (don't even bother to look at your trade-in car). a call to their car dealer and they will quote you paper + body. They even print out the LTA rebates of your car, Black & White! the critical part is the BODY value!!!

 

You go tell them SGcarmart price not same leh, they will tell you a lot of stories like dealers overheads, margins bra bra bra, maybe even ask you to fly kite.

 

Buyer in the end will LL still buy, just overtrade or take a longer loan.

 

you never go showroom to pretend as buyer one ah?

 

and yes, we carowners are treated like idiots, from the gahmen, insurance coy, banks to AD/PI.

 

 

[Scalar]

Please lah, this type no need to hear from friend one lah, just drop by any AD/ PI showroom, they only ask for your full name and IC number, maybe ask got leather seat or sports rim (don't even bother to look at your trade-in car). a call to their car dealer and they will quote you paper + body. They even print out the LTA rebates of your car, Black & White! the critical part is the BODY value!!!

 

You go tell them SGcarmart price not same leh, they will tell you a lot of stories like dealers overheads, margins bra bra bra, maybe even ask you to fly kite.

 

Buyer in the end will LL still buy, just overtrade or take a longer loan.

 

you never go showroom to pretend as buyer one ah?

 

and yes, we carowners are treated like idiots, from the gahmen, insurance coy, banks to AD/PI.

 

haha... agree with u bro....