Apollo 1st Gear June 29, 2005 Share June 29, 2005 my 2 ct, the decision is still yours. but avoid an auto car if u gg for long term, ie till the car's COE is up. cos autotrans r expensive n CVT r beri beri expensive. a manual Vios / Corolla may b better, in terms of FC./ spare parts, etc. still u make ur own judgement call. blame no one. ↡ Advertisement Link to post Share on other sites More sharing options...
Turbonetics 2nd Gear June 29, 2005 Share June 29, 2005 I am a gal! Hahhaha, but thank you bro. My parf is 655, as I only left with 7.5 years, I just calculated it is $5104. Isit ok? okay...yah...u r rite... i calculate wrongly... my mistake... Link to post Share on other sites More sharing options...
Turbonetics 2nd Gear June 29, 2005 Share June 29, 2005 why not get a new car? COE only 17K. Straight away, you can save a lot on the interest per year. new cars depreciate alot... and u can't sell it for the next 4 years(minimum)... unless u down alot of cash or u pay the remaining outstanding loan... normally is $10k n above... Link to post Share on other sites More sharing options...
Turbonetics 2nd Gear June 29, 2005 Share June 29, 2005 Seriously, I know nuts about car value and such. I know abit but itis obviously not enough. I actually test drive the car and it's in good condition, power wise and pick up is good. I know there is a breakeven point for 2nd hand car, but I suppose it not that long? Anyway, I gues I am settling for that Jazz...haix. is urs using the CVT transmission?? there r lotsa problems in these gearbox(2001-2003)... better check wif ur SE.... Link to post Share on other sites More sharing options...
York Clutched June 29, 2005 Share June 29, 2005 Thank you for the reply. My parf is 65%, as what explained by that guy. My parf written on the log card is $10k. That is the minimum right? urs, the calculation is on the after May 2002 column...see link; http://www.lta.gov.sg/motoring_matters/mot..._vo_tax_pte.htm Link to post Share on other sites More sharing options...
Seaweed 1st Gear June 30, 2005 Share June 30, 2005 see here http://www.lta.gov.sg/motoring_matters/mot..._vo_tax_pte.htm PARF Rebate (For cars registered with COE obtained from May 2002 tender exercise and onwards) Not exceeding 5 years 75% of ARF paid so now all most refer to AFR..but then ARF is either 110% of your OMV or 130% of your OMV... Link to post Share on other sites More sharing options...
Ddt121 Neutral Newbie June 30, 2005 Share June 30, 2005 How to calculate? I test drive that car, engine performance wise is good. Rough Calculation: Banks use compound interest to calculate. To make things simple, Take your loan amount and add 3% interest to it annually. 1st yr: 48.5k + 3% 2nd yr: 49955 + 3% of 49955 and so on. Say loan for 7 yrs, comes up to 57.9k. 57.9k is the amount payable. Monthly instalment: About $690 Every year, you would have cleared $8280 by payment of instalment. Then take your paper value, and match your PARF benefits and your remaining COE amount. Link to post Share on other sites More sharing options...
Ddt121 Neutral Newbie June 30, 2005 Share June 30, 2005 I test drive that car, engine performance wise is good. I was talking about the maintenance and the well being or health, esp engine wise, of the car. not the performance. Link to post Share on other sites More sharing options...
Venuswxy Neutral Newbie June 30, 2005 Author Share June 30, 2005 Err, hi all! I am sorry but I am utterly confues now. My car is Dec 2002, so should I look at before May 2002 or after? I don't know what is ARF..how to calculate? Sorry I am asking all the noob question.. I understand Corolla or Vios is good but my bf is driving that already, and I prefer a hatchback car..that's why I am looking at Colt or Jazz, but many people told me Jazz is better Link to post Share on other sites More sharing options...
Venuswxy Neutral Newbie June 30, 2005 Author Share June 30, 2005 It's okie leh. I even brought it down to my uncle workshop, he owns a mechanic workshop and he check the car, he gave the green light. Link to post Share on other sites More sharing options...
Ddt121 Neutral Newbie June 30, 2005 Share June 30, 2005 why not get a new car? COE only 17K. Straight away, you can save a lot on the interest per year. new cars depreciate alot... and u can't sell it for the next 4 years(minimum)... unless u down alot of cash or u pay the remaining outstanding loan... normally is $10k n above... new cars do depreciate a lot.. but then the COE now is 17K compared to her 29K. you already save on the interest and the 1K per month. If I would to buy a second hand car now, i would only buy one within the COE range of 16 to 19k. PS: I myself prefer 2nd hand cars, but calculating back, i think new cars are more worth it. No worries on the ex ownership. Link to post Share on other sites More sharing options...
Ddt121 Neutral Newbie June 30, 2005 Share June 30, 2005 Link to post Share on other sites More sharing options...
Ddt121 Neutral Newbie June 30, 2005 Share June 30, 2005 i think yours is the in-middle, where your PARF at 10 yrs is 65% of OMV. Actual scheme, i am not quite sure. I only know mine, which I specifically bought one registered in March 2002. Link to post Share on other sites More sharing options...
Venuswxy Neutral Newbie June 30, 2005 Author Share June 30, 2005 What am i doing? Dec is after May 2002 ma, aiyoh! Me like blur sotong! But I got no idea how to calculate.. I don't know what is ARF Link to post Share on other sites More sharing options...
Seaweed 1st Gear June 30, 2005 Share June 30, 2005 (edited) ok...let me count for you...Dec 2002 car ARF is 130% of OMV which if 130% of $15723 which is $20439.... 75% of ARF is the Parf if your car scarp less then 5 year which is 75% of 20439 which is $15329.... Assume you buy your car May 2005 mean the car is approx 2.5 yrs old so coe prorated will be $29113/10*7.5 which is $21834... So paper value of your car at May 2005 when you buy it is approx $21834+$15329 = $37163... You buy at 48.5k which is slight more then 11k...I think you did get con a bit..usually I suppose used car will take in the car maybe at paper value + 6k-7k...so they make around 4k out of this deal...excluding money make from your insurance and loan... Your Parf at 10 years is 50% of ARF which is 50% of $20439 = $10219... So assume you used till ten year then depreciation per yr is ($48500 - $10219) /7.5 = $5100... Edited June 30, 2005 by Seaweed Link to post Share on other sites More sharing options...
Venuswxy Neutral Newbie June 30, 2005 Author Share June 30, 2005 You are so..I am speechless! *Clap clap* If only I know how to calculate like you do. I am told that I can go and find my own insurance, but I don't understand why the bank cannot loan me at $52k. The car dealer told me maybe max is $50k because of my pay. How can it be? I am assured by my Bf friend who is a car dealer that normally it should pass, my bf said it's a gimmick, maybe he wants me to fork out cash afterall. I was thinking isit because I didn't let him help me find my insurance. So I guess this deal is not that worth it afterall? Then can you help me calculate this July 2003 Mitsubishi Colt? Car dealer selling me at $48k. COE: $31,095 OMV: $13,853 I really take my hat off you. Thank you Link to post Share on other sites More sharing options...
Venuswxy Neutral Newbie June 30, 2005 Author Share June 30, 2005 Anyway, how did you get that they earn another about $4k?? How to come to that conclusion?? SOrry, noob question one after one Link to post Share on other sites More sharing options...
Mavvy Clutched June 30, 2005 Share June 30, 2005 I am a gal! Hahhaha, but thank you bro. My parf is 655, as I only left with 7.5 years, I just calculated it is $5104. Isit ok? What a nice figure to depreciate with... I'm having high numbers to live with.. ↡ Advertisement Link to post Share on other sites More sharing options...
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