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High Paper Value = Good?

sHy3r

By sHy3r,
in General Car Discussion

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sHy3r

sHy3r

4th Gear
(edited)

Dear all,

 

Need some experts to show some light.

 

In 2013, the COE sky Rocket to above $70-90k. Those cars that was purchased during that time will have a high paper value.

 

May I know what are the advantages and disadvantages of having cars with high paper value?

 

An example:

A KIA K5 2013 currently has an estimated paper value of $50-55k as of now. But in SGCarmart, dealers are selling 2014 at $61-$65k.

 

What does that implies?

 

Will the dealer refused to take in the 2013 car as the paper value is high and very close to 2014/2015 cars?

Edited by sHy3r
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sHy3r

sHy3r

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high paper means better to deregister.

I dun understand... so 2013 cars are as good as deregister than selling to dealer?
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QQDreamer

QQDreamer

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anyway korean cars are not known to have resale value in the 2nd hand market. meaning, you can buy your KIA or Hyundai at high price. when it comes to resale value, dealer will take in very low but sell at higher price thereafter. Having said this, this also applies to other make and mode. However in terms of dollars and cents, compared between a japanese and a korean car each resale value is different. Japanese makes usually higher resale value as compared to a korean anytime.

 

Having a high paper value yes good. as if you scrap, you get back more compare to a lower paper value car.

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Samlimlp

Samlimlp

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High value on OMV = only good if you have the car on the 10th year, can get back more on de-registration/scrap....not so for COE.

 

But if high value result in having higher car price and bigger loan, thats no good....

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sHy3r

sHy3r

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So if base on the example I quoted earlier.. at what price will dealer take in if the paper value is $51-55k and the dealers are selling 2014 model at $61-$65k?

 

Taking into the fact that dealer wants to earn a profit... i think many dealers will not want to take in?

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Old-driver

Old-driver

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So if base on the example I quoted earlier.. at what price will dealer take in if the paper value is $51-55k and the dealers are selling 2014 model at $61-$65k?

 

Taking into the fact that dealer wants to earn a profit... i think many dealers will not want to take in?

 

They will take in... at paper value. If can't sell, they scrap. No skin off their back.

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Optramagnum

Optramagnum

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Essentially, buy high = sell high. But car dealers are not dumb. They will take in around paper value then resell at much higher price. Otherwise they will suffer loss if no buyer.. Some buyers go for "pre-COE hike" cars.

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sHy3r

sHy3r

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They will take in... at paper value. If can't sell, they scrap. No skin off their back.

I see. Take in at scrap value only... i might as well scrap myself....got body too...

So having high paper value has more disadvantages than advantage... :(

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Ct3833

Ct3833

Supersonic
(edited)

Dear all,

 

Need some experts to show some light.

 

In 2013, the COE sky Rocket to above $70-90k. Those cars that was purchased during that time will have a high paper value.

 

May I know what are the advantages and disadvantages of having cars with high paper value?

 

An example:

A KIA K5 2013 currently has an estimated paper value of $50-55k as of now. But in SGCarmart, dealers are selling 2014 at $61-$65k.

 

What does that implies?

 

Will the dealer refused to take in the 2013 car as the paper value is high and very close to 2014/2015 cars?

if you have a 2013 Kia currently with a paper value of 50k to 55k, you would be better off selling it  to a dealer at above paper value. If no dealers wants to take your car, you should scrap it now and go buy a new Kia Cerato which will cost you 73K only. Because your 2013 Kia is causing you about 10k depreciation per year now. a new Kia will depreciate less than 7k a year. 

 

there is no point  buying a 2014 Kia which is more than 4 year old for 61k to 65k.  Top up 10k more you get a brand new Kia.

 

I highlight again , if you have a 2013 Kia that has a paper value of 50k to 55k, sell it off or scrap it soonest possible, and go buy a new Kia. 

Edited by Ct3833
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sHy3r

sHy3r

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if you have a 2013 Kia currently with a paper value of 50k to 55k, you would be better off selling it to a dealer at above paper value. If no dealers wants to take your car, you should scrap it now and go buy a new Kia Cerato which will cost you 73K only. Because your 2013 Kia is causing you about 10k depreciation per year now. a new Kia will depreciate less than 7k a year.

 

there is no point buying a 2014 Kia which is more than 4 year old for 61k to 65k. Top up 10k more you get a brand new Kia.

 

I highlight again , if you have a 2013 Kia that has a paper value of 50k to 55k, sell it off or scrap it soonest possible, and go buy a new Kia.

But K5 and K3 are different models...
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sHy3r

sHy3r

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Ah sorry I didn't notice the word K5. My bad. Sorry

Is okay. Maybe i should consider to change Stinger. Haha
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