Buying a second-hand 7 years car from Turf City

[Shinigaimi]

I experienced this myself when I trade in my 7 year old car for a new one in 2009...I was given the paper value of the car only, but that was the time when the COE was only 1K. That dealer won't be able to sell my 7 year old in that cheap COE climate.

 

But now with so high COE (compared to 2009!), is it true that dealers are taking in 6-7 years old car at only paper value?

 

Looking at the advertisement in SGcarmart, just looking at the price they are asking for those 6-7 years car, their profit is 10~20K per car?? I don't think so. If the profit margin is so high and the market could indeed sustain it, there are a lot of incentives for car owners to sell it themselves and pocket the margin.

 

You can try asking.

 

I accompany a friend to buy BMW . He wanted to trade in his 05 520. They only willing to take in @ paper value. That was last year .

 

Industry standard is like this regardless of high or low Coe.

 

So if want to buy, I normally just offer a few k higher than the dealer trade in. & must be at least 8k difference from the list price.

[Tampinesdude]

Go ahead and buy if yr budget is ok with it

 

Thanks. Just worry that i will loose too much as the asking price is quite high above paper value.

 

[13177]

This car body shell value is very low. Furthermore, it is a old KIA. Maintenance is comparatively higher than Toyota. I heard spare parts is quite hard to find for this car as well. So all in all, i think very few people will buy this kind of car.

Looks like korean car afterall still have not much value when the car is old. No wonder many people still insist on getting jap cars.

[Simplecar]

Why is that so? Might as well drive the scooter off kallang river and let it rot there

No. Give it to any Sungei River roadside merchant and he will thank you heaps! He can sell the parts.

[Babal]

hi all, just to check is there still ballon scheme ard?