Help!!

[Turbonetics]

Wow! Thank you! I don't know how to calculate, stupid me huh? But thanks alot, think I will slash prices again.

 

 

yeah....u can slash at least another $3k...

tell them another car mart is selling how much lesser than them....

[Seaweed]

they are out to kill...earn 20k...ask them go rob better..well paper value is fix and you can easily calculate on your own...after you get this value...add in a few k more for the car body...car less then 3 yrs have better body value...i know typically a normal jap saloon is around 5k-7k...korean is 3k-5k...others not sure....think fair value for this vios should be around paper value + maybe max 6k....because I think Thai made should have lower body value...

[Seaweed]

very easy...tell him now things very simple...ask him paper value how much(confirm cannot bluff cause black and white and now that you know how to count yourself liao...remember ask to see log card....don't just listen) then ask him he pay people how much for the body(can bluff a bit but usually got standard 1...less then 3 yr...jap saloon is around 5k-7k...korean 3k-5k...the rest I don't know..)....then add 1k-2k for him to eat then that's it....tell him if he want to earn 4k-5k per car..ask him wait lor...you are the queen now...ha ha ha...

[Venuswxy]

Hahahaha! U know, actually he is advertising for $51800. I bargain till $48k but now it seems that it's not that worth it! Aiyoh..if only I have a friend who calculate as well as you, I can get him to go down and slash prices

[Venuswxy]

He refuses to go any lower than $48k. He said lowest is $48k. I told him the road tax is ending loh, in July, I gotta pay extra $400+. He said don't charge me admin fee. Sigh..what should I do?

[King]

dun buy lah....

[Fortress]

After more than 2 decades of buying and driving cars, do not rush into any buys or trying to make time on the road.

[Seaweed]

tell him keep the car lor... there's plenty of others people willing to sell car...like what bro fortress say...no hurry....buy car don't rush...espeicially 2nd hand car...take your time...look around first..talk to more seller...

Edited July 1, 2005 by Seaweed

[Venuswxy]

Ya, I know I shouldn't rush into any buys. Actually I am kinda rush to get myself a car, possibly by next week.:( Anyway, just hope god pity me and pass me a good deal soon. Sigh..

[Emkay]

Actually I believe the dealer is not making 20K.

Although paper value of that VIOS as of Aug 2005 is around $31,231. The dealer probably paid much higher then that.

This is becos no matter u scrap ur car at 1.5 year or 5 year, you car's PARF is the same (i.e. 130%, 55% or 65% of OMV).

 

Remember the cost of car the agent sell to the first buyer is (using the vios as example):

(From http://www.lta.gov.sg/motoring_matters/mot..._vo_tax_pte.htm)

 

$140 (RF) + 1.1 x OMV (ARF) + COE + 0.2 x OMV (Excise Duty) + OMV (Cost of the car when importing)

= $140 + 2.3(OMV) + COE --------------------(1)

= $140 + 2.3(12382) + 24489

= 53107.60

Factoring in GST you get

= $55,762.98

 

This should be the cost of car + all the necessary taxes but excluding commission, earning, additional accessory, etc operating cost.

 

If you scrap this car immediately, your current paper value will be $34,704.15

= 0.75(ARF)+COE

= 0.75 x 1.1 x OMV +COE

= 0.825 (OMV) + COE -------------------------(2)

 

If you scrap this car on the 15th month, your current paper value will be:

= 0.75(ARF) + (15/120) COE

= 0.825(OMV) + 0.875(COE) -------------------(3)

= $10,215.15 + $21,427.88

= $31,643.03

 

Comparing (1) & (2), if you buy a car today and scrap it immediately, you'll lose

(1) - (2) on paper & car body value:

= $140 + 2.3(OMV) + COE - 0.825 (OMV) - COE

= $140 + 1.475 (OMV) ------------------------(4)

 

In this case, that will be the 'loss' of $140 + 1.475 x $12382 = $18,403.45 for 'immediate deregistration', if you are considering $0 car body value.

 

If you take the car can be exported, and value is the same as OMV, then the net loss will be $6,021.45 'loss'.

 

So for a 15 months car, assuming the used car dealer valued the car body at 75% of OMV, he would have paid (current paper value) + 0.75 (OMV)

= $31,643.03 + 0.75 ($12,382.00)

= $40,929.53

 

But if the car is highly sought after in the market .. he may even pay more then 75% of OMV for the car body .. may be 120%? This is where the market force come into play. Owners of 15 month VIOS may not want to let go at $41K as this means he will absorb the whole lost of PARF & OMV for the first 5 years (about $18,400).

 

To be fair, (and assuming the depreciate first 5 year PARF loss to be linear, he should absorb (15/60) of $18400 thus 0.75 x ($18400) should be in the selling price:

= (current paper value) + 0.75 ($18400)

= $31,643.03 + $13,800.00

= $45,443.04

 

So instead of $53.8K, I think fair value for a 15 months VIOS should be $45K with the following assumptions:

 

a. VIOS will have $0 car body value on the 6th year.

b. Car body value depreciate at 20% of OMV linearly for the first 5 years.

c. All party are logical and not desperate.

d. You have read till this part and understand every bits of it.

Edited July 1, 2005 by Emkay

[Venuswxy]

How about my Colt?

[Gadgeter]

never rush into buying..

[Gadgeter]

very detail writeup..

[Soya]

ermm...why muz u decide by today??

[Porker]

Venus ---> don't rush into things especially when its a big ticket item. You're gonna be stuck with this car for the next few years. Take your time and search around. Jazz is common and there's plenty so its not difficult fishing out a good deal.

 

Look elsewhere if the dealer don't want to give you more discount. Exercise your rights as a customer. Don't be hard pressed, by him, into buying the car. Its especially more so since you're a lady and don't really know much about the tax structure as well as market value.

 

Good luck.

[Venuswxy]

Cos I am starting me new job next week, need a car. That is why..

[Venuswxy]

So what do you think about this Colt? Pricing me at $48k. I slash to $45k, but I don't think his boss will agree. I kinda like Colt and actually feel this is quite affordable though not very.

[Seaweed]

well...a while without car nevermind 1 lar...but once you get con...then no point of return leh....