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Buying a used car

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English

Buying a used car

Postby English » Wed, 28 Jan 2004 4:46 pm

Anyone out there that can offer advise?"

Thinking of buying at last (been here quite a few years already and have paid a fortune in rentals) Perhaps something 5 years old?
Anyway, I still do not totally understand the complicated system.
i.e. the price in the newpaper is what you pay? What's 'PARF', 'OMV', 'COE' and apart from what they stand for, what do they mean in relation to my purchase?

Thanks,
English

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jpatokal
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Postby jpatokal » Wed, 28 Jan 2004 7:17 pm

ERP! PDL! OMV! COE! NCD! I'll stick with the MRT, thank you very much. But you'll find many of your questions answered right on this very site's guide:

http://www.singaporeexpats.com/guides-f ... de.htm#Car

And the rest at One Motoring, courtesy of the Gahmen:

http://www.onemotoring.com.sg/

mobe540

Re: Buying a used car

Postby mobe540 » Fri, 30 Jan 2004 6:34 pm

English wrote:Anyone out there that can offer advise?"

Thinking of buying at last (been here quite a few years already and have paid a fortune in rentals) Perhaps something 5 years old?
Anyway, I still do not totally understand the complicated system.
i.e. the price in the newpaper is what you pay? What's 'PARF', 'OMV', 'COE' and apart from what they stand for, what do they mean in relation to my purchase?

Thanks,
English


hi English
i guess you dont really have to be bothered by the PARF, OMV or COE prices when buying a used car. in a nutshell, these aspects only become an issue if you send your car to the scrapyard, and need to get a rebate.

just walk in to any car dealer, or look at the classifieds, and the price you see will be probably the price you have to pay to drive off (if you are not taking a bank loan that is).

a good place to hunt for a used car would be the AML Building in Eunos (Automobile megamart)...you'll find 5 floors of used and new car dealers.

english

Thanks Mobe 540

Postby english » Thu, 12 Feb 2004 1:58 pm

Thanks - much appreciated

Thinking of buying a used VW or Renault - circa $65k
Still looking - thank for the tip ref the Car Mart - tried the 5 floors - great selection - full of Chinese 'Arfer Dalies' if you know what I mean?

licia A
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automobile informations?

Postby licia A » Thu, 23 Aug 2007 12:27 am

Sorry licia A, but you posting of 5 messages withing 10 hours of registering, all of them spamming a single website has earned you the distinction of being an advertiser without too much smarts. Therefore your account has been locked and the other 4 posts have been deleted.

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Buying a used car

Postby christay » Thu, 23 Aug 2007 5:44 pm

When buying a used car, you must be COMPLETELY aware of OMV, COE, and PARF. This is because the value of a car comprises the following:

1) The underlying tax rebates (comprising COE rebate and PARF rebate both termed as "paper" value)
2) The actual value of the physical car (sometimes called the "body" value)
3) A premium over 1 & 2 above in many cases to align the car's value to that of a new equivalent.

Only cars less than 10 years old are eligible for PARF rebates. COE rebates are calculated on a straight line.

PARF rebates are calculated now as a percentage of ARF which in turn, is a % of OMV.

In general, cars here are either vintage 2002-2007 or pre 1994. This is because paper values for cars in between were so high that it was more viable for the cars to be deregistered, and the owners taking back the tax rebates.

For 2002 - 2007, generally speaking, the older the car, the higher the paper value as a % of the total car price. This is because of changes in the tax regime in June 2002 and April 2004. COE has also been declining generally.

A good example would be a 2003 corolla with climate control. Paper value $33k, body value $10k. total $43k. but you can buy a 2005 Altis for that amount too! But the Altis' paper value may only be $25k or so....and it's body is not worth 18k+.

So why would one buy a 2003 corolla? People do. Because you can model your loss over time very accurately.

If you are paying cash, try to buy a car paper plus body like the corolla above. cars mid 2003 - mid 2004 fall into this category generally...at least for bread and butter cars like corollas, sunnys and the like.

If you need a loan, try to buy a car with as high a paper value as possible. This is your underlying collateral. Cars vintage mid 2004-early 2005 could fall in this category. That plus you can stretch the tenure of the loan a little further.

In general, the more expensive the new car equivalent is today, the harder it is to buy a second hand car at paper plus body. Good example, Porsches, etc.

Hope this was useful :)

PS: AML is a great place to window shop. But please (seriously!), Caveat Emptor... do your homework, legwork, research, etc. It will save you thousands.

PPS: If you are considering a car and need specific advise, please reply to this post, stating
make and model
colour
transmission type
mileage (hopefully genuine)
date of registration
year of manufacture
OMV
PARF at 10th year
COE paid (and the category paid)
Asking price.

I will reply and try to give you an accurate value.

rose143
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Hadron Collider Rose

Postby rose143 » Mon, 03 Nov 2008 12:42 pm

ROse

PARF, OMV or COE All these three things are mandatory when you re purchasing the used cars. You have to follow these instructions....
================================
Used cars
Hi

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Re: Buying a used car

Postby babyplush » Wed, 05 Nov 2008 12:19 pm

christay wrote:When buying a used car, you must be COMPLETELY aware of OMV, COE, and PARF. This is because the value of a car comprises the following:

1) The underlying tax rebates (comprising COE rebate and PARF rebate both termed as "paper" value)
2) The actual value of the physical car (sometimes called the "body" value)
3) A premium over 1 & 2 above in many cases to align the car's value to that of a new equivalent.

Only cars less than 10 years old are eligible for PARF rebates. COE rebates are calculated on a straight line.

PARF rebates are calculated now as a percentage of ARF which in turn, is a % of OMV.

In general, cars here are either vintage 2002-2007 or pre 1994. This is because paper values for cars in between were so high that it was more viable for the cars to be deregistered, and the owners taking back the tax rebates.

For 2002 - 2007, generally speaking, the older the car, the higher the paper value as a % of the total car price. This is because of changes in the tax regime in June 2002 and April 2004. COE has also been declining generally.

A good example would be a 2003 corolla with climate control. Paper value $33k, body value $10k. total $43k. but you can buy a 2005 Altis for that amount too! But the Altis' paper value may only be $25k or so....and it's body is not worth 18k+.

So why would one buy a 2003 corolla? People do. Because you can model your loss over time very accurately.

If you are paying cash, try to buy a car paper plus body like the corolla above. cars mid 2003 - mid 2004 fall into this category generally...at least for bread and butter cars like corollas, sunnys and the like.

If you need a loan, try to buy a car with as high a paper value as possible. This is your underlying collateral. Cars vintage mid 2004-early 2005 could fall in this category. That plus you can stretch the tenure of the loan a little further.

In general, the more expensive the new car equivalent is today, the harder it is to buy a second hand car at paper plus body. Good example, Porsches, etc.

Hope this was useful :)

PS: AML is a great place to window shop. But please (seriously!), Caveat Emptor... do your homework, legwork, research, etc. It will save you thousands.

PPS: If you are considering a car and need specific advise, please reply to this post, stating
make and model
colour
transmission type
mileage (hopefully genuine)
date of registration
year of manufacture
OMV
PARF at 10th year
COE paid (and the category paid)
Asking price.

I will reply and try to give you an accurate value.


What do you reckon?
Used Suzuki Swift 1.5A(OPC)
white colour
Auto
25,000km
15 Jan 2007 date of rego
OMV 11,105
PARF ??
COE 9,065
Price $28,000

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Saint
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Postby Saint » Wed, 05 Nov 2008 2:05 pm

You are sure you are after an OPC?

Just checking

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Postby babyplush » Thu, 06 Nov 2008 9:18 am

what does that mean?

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Saint
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Postby Saint » Thu, 06 Nov 2008 9:29 am

babyplush wrote:what does that mean?


Off Peak Car, so can only drive it during certain times

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bluexob
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Postby bluexob » Fri, 07 Nov 2008 10:21 am

Y not get a new small cheaper,compact and economical car??....
With low cost for petrol,road tax,insurance etc..
Plus u can enjoy the warranty,free servicing,labour and parts and low interest rate now..And low maintenance..
Used car???
U dont be able to enjoy that priviledge..
Last edited by bluexob on Fri, 07 Nov 2008 10:36 am, edited 1 time in total.

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Saint
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Postby Saint » Fri, 07 Nov 2008 10:34 am

bluexob wrote:Y not get a new small,compact and economical car??....
At least u can enjoy the warranty,free servicing,labour and parts and low interest rate now..And low maintenance..
Used car???
U dont able to enjoy that priviledge..


Of course you do with a used car :roll:

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sundaymorningstaple
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Postby sundaymorningstaple » Fri, 07 Nov 2008 10:36 am

bluexob wrote:Y not get a new small,compact and economical car??....
At least u can enjoy the warranty,free servicing,labour and parts and low interest rate now..And low maintenance..
Used car???
U dont able to enjoy that priviledge..


I dont' know.....

I really enjoy my Austin Healey and it's used. It's 51 years old.

I also enjoyed my old '66 Mini Cooper that I had and complete restored here back in the '80's. Course knowing how to rebuild my own vehicles is part of the enjoyment so enjoyed getting grease under the fingernails as well. :P

Most here don't even seem to know if and where the spark plugs are on a car today.

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Postby bluexob » Fri, 07 Nov 2008 10:41 am

Most here don't even seem to know if and where the spark plugs are on a car today.[/quote]

Well that's y its better to seek a professional..
That's explain the warranty..


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