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Buying a used car

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christay
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Postby christay » Fri, 07 Nov 2008 10:42 am

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

I am not sure but i think this car may have zero or close to zero parf which means depreciation should be more than 3k.

Therefore, it sounds really expensive. For cars post 2006, the market uses the "depreciation" approach for valuation. If you hunt around, you can get some really decent cars at 4-5k per depreciation now (I am now driving an ultra low mileage cefiro which depreciates at 3.8k pa). In fact, stuff like the nissan sunny and the like will definitely be below 4k per year. Every mainstream model has a "market rate" for depreciation. Even if the car is exceptionally low mileage (verifiable) don't pay anything more than 10% above market no matter what the dealer says.

Be careful, what appears cheap may not be when it comes time to sell it in the future.

Before you go shopping, at least look at the popular websites but I have to say that now, many of the prices there are extremely unrealistic - way too high.

The market is extremely soft. Find yourself a motivated seller and politely put in your "reasonable" bid subject to an independent inspection (at your cost @ $130).

If you're in the market for a used car, now is a fantastic time to find a bargain! :)

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Saint
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Postby Saint » Fri, 07 Nov 2008 10:51 am

christay wrote:If you're in the market for a used car, now is a fantastic time to find a bargain! :)


Yep, just have and picked it up last weekend :cool:

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QRM
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Postby QRM » Fri, 07 Nov 2008 11:28 am

sundaymorningstaple wrote:I also enjoyed my old '66 Mini Cooper .


SMS

I got one of the last old shape mini its 1999 version so coming up to 10 years old but only done 3000 miles, its still moth balled in the UK.

I had many cars over the years but the old style mini always puts a grin on my face when ever used it. Plus every one is so much nicer to you when you pull out of a side road in an old mini, if you are in a fancy Italian exotic, no one lets you out. :lol:

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sundaymorningstaple
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Postby sundaymorningstaple » Fri, 07 Nov 2008 2:26 pm

Yeah, mine was a Mk1 so had external door hinges & small grill (not the clubman). Sure wish I hadn't sold it shortly after the COE system came out back in '88 cause they sure are fun to drive!

Mothballed! That's where my '57 100-6 is today (humidity controlled environment). Will sure be glad to go back and get it out. Will probably have to restore it again just like I recently restored myself. We have aged well. :wink:

Old sports cars get lots more respect the the exoticars I have to agree. Course my Caddie sounds more like your Mini. I bought it new in '91 fully loaded and it stays barn kept and is only used when I go home (it gets started once a week and a single run to the post office by my mom). It's only got 16K miles on the clock from new. 1K miles/year.

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Saint
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Postby Saint » Fri, 07 Nov 2008 4:33 pm

I test drove a manual Mini (ok BMW) Cooper S which had the JCW upgrades. I scared the shit out of the agent as I showed him just how it should have be driven! :cool:

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Postby durain » Fri, 07 Nov 2008 10:35 pm

Saint wrote:I test drove a manual Mini (ok BMW) Cooper S which had the JCW upgrades. I scared the shit out of the agent as I showed him just how it should have be driven! :cool:


you can acheive the same on a perodua kelisa!

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Saint
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Postby Saint » Fri, 07 Nov 2008 11:11 pm

durain wrote:
Saint wrote:I test drove a manual Mini (ok BMW) Cooper S which had the JCW upgrades. I scared the shit out of the agent as I showed him just how it should have be driven! :cool:


you can acheive the same on a perodua kelisa!


Only if you drive it off a cliff, ok, push it off as probably quicker! :lol:

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sundaymorningstaple
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Postby sundaymorningstaple » Sat, 08 Nov 2008 12:51 am

You mean this one? I loved this!

http://www.youtube.com/watch?v=eE_JIRx9sik

singaporebound2
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Postby singaporebound2 » Tue, 06 Jan 2009 8:36 am

Christay, what are your thoughts on:
Honda Stream 1.8 x (A)
White
Auto
15,000km
Dec-07 registration
Late 07 manufacture
OMV: 19,000
PARF: ??
COE: $5,300
Asking: $59,000

I strikes me that the price is a bit on the high end. Thoughts would be greatly appreciated.

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DimWit Kid
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Postby DimWit Kid » Tue, 06 Jan 2009 11:59 am

singaporebound2 wrote:Christay, what are your thoughts on:
Honda Stream 1.8 x (A)
White
Auto
15,000km
Dec-07 registration
Late 07 manufacture
OMV: 19,000
PARF: ??
COE: $5,300
Asking: $59,000

I strikes me that the price is a bit on the high end. Thoughts would be greatly appreciated.


It's high - well depends whether it's KAH's import or parallel import. Kah's one it's okay (but you might wanna haggle a bit). Parallel - definitely too expensive. You need to check the log book.

With $ 5300 CoE, I think it should be in the low 50's if it's parallel importer one.
Current market for used car is really slow so you should use that to your benefit.

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Postby singaporebound2 » Tue, 06 Jan 2009 12:26 pm

Thanks for your thoughts, DimWit Kid; greatly appreciated. Just out of curiosity, why does it make such a difference to the price if it is a parallel import? (Are there any issues with warranties or servicing?). Many thanks.

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DimWit Kid
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Postby DimWit Kid » Tue, 06 Jan 2009 1:00 pm

singaporebound2 wrote:Thanks for your thoughts, DimWit Kid; greatly appreciated. Just out of curiosity, why does it make such a difference to the price if it is a parallel import? (Are there any issues with warranties or servicing?). Many thanks.


Warranties and service packages are usually given by the importers. Obviously in terms of spare parts, usually the sole agent/dealer importers are more complete and prompt. The same with service packages - they are generally are more valued. Your resale car with complete servicing by the dealer (there are people who buys from dealer but then 'outsource' the servicing for cheaper package) may also command better price on resale.

A few years ago there were a fiasco where a grade of car brand that's only imported by parallel importers faced a recall. The car company only channels the recalled parts through their official distributors - parallel importers had problem getting the part. On their side, the official agent did not want to do the recall service for the parallel imports... hence the people who own the cars are faced with difficult choice - to risk their safety by not doing the recall service until the parts are available, or send the car to another country... Finally if I'm not mistaken a deal was struck by the collective owners of the cars with the agent... But you get my drift - with parallel imports you buy new or used cars cheaper but you also face certain risk and hassles. I need to qualify that some parallel importers are actually quite respectable themselves, owns their own workshops etc... but invariably usually for the same make, you will get cheaper parallel imports.

kwekjustin
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Postby kwekjustin » Sun, 18 Jan 2009 1:34 am

Nowadays, Parallel importers purchase warranty package from TWM. As its more beneficial for customers, and protects against factory recalls.
Professional and Superb service in Car sales..

christay
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Stream and PI vs Agent

Postby christay » Wed, 21 Jan 2009 11:42 am

Hi,

sorry for the late reply. I log in sporadically.

For the stream, I think you should be looking at annual depreciation of no more than 5k p.a. Car prices are dropping on a daily basis so if you can wait till after chinese new year, you will probably save some money.

As for PI vs Agent. Pros and cons... it's true that the agent's warranty is usually easier to enforce but having said that, plenty of agents are only too happy to void your warranty over the smallest thing, for example, missing one service or changing your air filter to an after market one.

PI cars can be more valuable under some circumstances. For example, the PI odysseys circa 2002-2003 used to fetch a 2-3k premium over the Kah motors version because the PI ones were exportable to NZ. The same thing happened over a period of certain Benz models.

From a practitioner's point of view, I don't have a general rule of thumb with regards to PI vs Agent. Each car has to be evaluated on a case by case basis.

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Postby Irony » Mon, 09 Feb 2009 2:05 pm

Hi,

Can anyone advice if the below is worth buying?
Greatly appreciated!

Nissan March 1.4C Auto
Metallic Pink
31,000km mil
13 Oct 2006 reg
OMV $13,313
PARF at 10th year: ??
COE $13,102
Depreciation $3,454 per year
Asking price: Manage to bargain to 32k


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