New Car or Old Car

[Icefiesta]

Hi ,

I intend to buy a car dun know to go for a new car or a 2nd hand car.Cos me going to sell my car.It was my 1st car I got chop chop chop for it.So now very scared. Pls advise ? Also wat is OMV and Parf . I do not understand it at all. PLs help.

[DarkLord]

OMV= Open Market Value

 

PARF= Preferential Additional Registration Fee

 

OMV + PARF + COE = Total value of your car.

 

Here's a link for you or alternatively, you can do search in the forum.

 

http://www.onemotoring.com.sg/publish/onem...e0/bid_coe.html

[Gadgeter]

Hi IceFiesta,

 

If your pocket allows, go for new car. With the current attractive finance package..

[Seaweed]

think there's no 100% right answer to this question. Buy old or new really depends on your own situation....most importance money situation lor..

[Acemundo]

yep he must tell us his needs, resources and priorities.

[Ghostrider]

OMV and PARF are similar.

 

OMV is the amount that customs used to determine the duty of the car.

PARF is the amount that you will get when you scrap the car.

ARF is 140% of your OMV (the duty & tax paid)

 

PARF + COE + (Dep of car X yrs of COE left) = Selling price of car.

 

When buying new car...just look at the PARF = how much then apply the layman rule below to find out the annual dep of the car.

 

Selling Price of car - PARF then divided by the number of years left

2 yr old car selling for 55,000. PARF 12,000

 

55,000 - 12,000 = 43,000 / 8 = $5375/year

[Icefiesta]

Actually I want to look for a car monthly installment around 600-800. Best 1.6cc above.

Cos most of the time I goes out with my family members and total there are 5 or 6 of us including me.behind always squeeze and I find that with heavy load the speed is slower a lot.Also I dun wan to fork out a lot for downpayment best no downpayment becos very tight budget.So any recommendation.If 2nd hand cars how old cars can I go for ?

[Acemundo]

is the car gonna be a permanent committment?

 

or are u still at the stage of thinking its good to have?

 

some people buy liao then later realise waste to park car in office whole day and then sell at a huge loss.

 

first hand cars are no good if u have to resell them shortly.....hence this is also another consideration.

[DarkLord]

Thanks for the detailed breakdown!

Edited August 25, 2004 by DarkLord

[DarkLord]

Is FC a concern? If not, can go for the Sonata now... They are dirt-cheap for a 2L car!

[Seaweed]

humm...5 to 6 person ??? then think you need to get a BIG car liao...just saw from forum...hyundai sonata only selling 70k+...a normal 1.6 won't be able to seat 5 person comfortably....most important is buy within your own limit lor....and if it's within your limit...a new car will always be better...

[Seaweed]

[DarkLord]

You driving an Accent harz?

[Icefiesta]

thanks for all the info.I am actually getting it for long term tat's why thinking so seriously.will there be lots of trouble with hyundai sonata cos heard a lot people say hyundai got lots of trouble. also wat you have jus mention is it a new car or 2nd hand car ?

[Seaweed]

Used to... ...u driving 1 too ?? it's not a bad car afterall...only have minor problem here and there....but never fail me for the 2yrs of owning it with my super high miledge...

[Seaweed]

it's new car....so you want hazzle free driving then go for a toyota or nissan lor...then confirm no problem..

[Kyosho1]

Nowadays, a 3-4 year old car is sold almost at scrap value, which is value for money, but you have to forgo the joy of new car smell.

[DarkLord]

Ermz, I no car lahz! Still waiting to get my first set of wheels in Sillypore!