Car prices - new and old

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Car prices - new and old

Post by Car-less » Mon, 22 Nov 2004 12:08 am

A friend is relocating and is flogging his MPV, so i tried to get and idea on the prices from the Straits times. Left wondering...

New cars, e.g. a New Honda Odessey for $109,000. Would that include the COE. Simple Yes/No please

Used car. I see three type of price quoted. (i) Some sellers seem to give the age final sales price, e.g 1'/01 Honda Odessey $75,000 but (ii) some guys quote the age and and OMV and (iii) some quote the age, OMV and the original COE. What am i supposed to do with the second two to establish what to pay?

How do i get from to OMV price to the drive off price? OMV plus 41% duty plus 150% ARF. How calculated?

I have seen some mentions high costs of transferiing. What are they?

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Post by yoongf » Mon, 22 Nov 2004 11:30 am

The Odessey price includes COE.

OMV and COE price is used to determine residual value, which is prorated based on the age of the car. Say, when buying a 2 yr old car and intend to scrap after 3 yrs of use, the residual value at Yr 5 is calculated. This will give a rough indication of the deprecation for 3 yr use. When scrapping, there isn't much value in the physical metal, so that amount is typically ignored.

Formula is here. ... bates.html

OMV to drive off price depends on the markup of the agent, which varies. However, due to the various bells and whistles added locally, which does not change the OMV price, it's not easy to determine whether the markup is justified. Examples are the leather seats, deluxe trimmings, sports rims, CD-Changer, Alarm, etc.

Transfer Fee payable to LTA is calculated here. ... isNew=True

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