Scrap my car & buy a car....

[Boy_vin]

hi bro there see if u can help mi wif these...

 

1) i would like to scrap my current car...91 suzuki swift...coe end at 2006 feb...how do i deal wif my insurance & road tax? Do i need to inform the insurance company tat i scrap my car...as well as the LTA...

 

2) i planning to buy mitsubishi colt 2nd COE one...23000...6yrs+ left...would like to noe a bit of facts of colt...FC...etc...

 

thanz alot bros...

[Ares]

Your SE/dealer should do all the processing and leg-work for you unless you are buying the car from your friend/relative. You will just need a sign through a thick stacks of paper provided by the dealer.

 

You need to inform the insurance company to terminate the coverage and refund your the unconsumed premium.

 

Don't know the details on the colt though.

[Ianstic]

My brother driving the Mitsubishi COLT for around 1 year already... last week we went to ask about selling it. The dealer calculated that we must top up at least 10k to sell the car . Reason because the 2Door Civic price has dropped quite alot already... no need to say much abt the 2Door colt. Somemore its a 2door car, all the maintenance will cost higher than others.

 

So maybe its not quite a good choice to buy a 2 door used car now?

[Boy_vin]

ya....buy the car but din transfer to mine name...it's from a relative...

if i go to scrapyard to scrap get more $$ or go to dealer scrap more $$?

coz i wan to use the $$ to offset abit for the colt....

[Ares]

If you do the scrapping yourself you will get the full scrap value. However, you can't enjoy the full value of the cert issued if you don't buy a new car with it. To get cash, you need to sell the cert to dealer who will definitely want a cut to earn some money.

 

Try getting a few quotes from dealers who will scrap for you and do your own evaluation whether is it worth the hassle to scrap the car yourself.

 

Hope this helps.

[Boy_vin]

hi Ianstic...would like to ask wat is the paper value of ur Colt..

y still need to top up a whopping 10k to sell tat off....issit becoz when u buy it it's exp then now the value is cheap? then need the 10k to offset ur loan ah?

 

how much u intend to sell?

[Boy_vin]

thanx ares for ur advice...

[Ianstic]

Not sure about the exact details but roughly this is the picture.

 

My bro bought it at 36K and take up a loan of 7 years (maybe this is the reason) and drove it for 15 months. The dealer said the maximum they can quote is 20K, not more. We still owe the finance huge amount if we sell at 20K. No choice we have to continue driving.

[Boy_vin]

i see....so i tink u bought it exp lo...so hav to drive it urself rather than loss alot...

[Ianstic]

ya lo... my brother will be going overseas for studies in a few months time and i have to take over have to save until already...

 

anyway, if you need the specs for the car, think you can visit the singapore colt club forum.

[Hansia]

hi bro there see if u can help mi wif these...

 

1) i would like to scrap my current car...91 suzuki swift...coe end at 2006 feb...how do i deal wif my insurance & road tax? Do i need to inform the insurance company tat i scrap my car...as well as the LTA...

 

2) i planning to buy mitsubishi colt 2nd COE one...23000...6yrs+ left...would like to noe a bit of facts of colt...FC...etc...

 

thanz alot bros...

 

Think insurance no refund if it's less than 3 mths left on it. Better check with your insurance co. first. I didnt get refund when I sold my previous ride.

 

There's usually a 3-5% cut from cashing out your PARF rebate.

 

Is this colt the old one? The one that proton used to have? Friend used to drive it. Not a bad car, but the axle broke one fine day even though the car was regularly serviced.

[Looneytune]

There's usually a 3-5% cut from cashing out your PARF rebate.

 

for coe cars, mkt norm is dealer take a cut of 5% off the coe rebate value. scrapped mine last mth & almost all dealers quote me 95% off coe rebate. in e end, after being recommended by a close friend, one dealer gave me 1% discount. so end up getting 96%.

[Guyver]

hi bro there see if u can help mi wif these...

 

1) i would like to scrap my current car...91 suzuki swift...coe end at 2006 feb...how do i deal wif my insurance & road tax? Do i need to inform the insurance company tat i scrap my car...as well as the LTA...

 

2) i planning to buy mitsubishi colt 2nd COE one...23000...6yrs+ left...would like to noe a bit of facts of colt...FC...etc...

 

thanz alot bros...

 

Best is to go see the car u wanna buy.. and ask them to take your old car in.... settled..