Sash1401 4th Gear August 22, 2011 Share August 22, 2011 Fellow bros, Kind if silly to ask but may i know how do u guys calculate when is ur car going to break even? if the current coe continues to soar, hw will it affect? Thanks in advance ↡ Advertisement Link to post Share on other sites More sharing options...
Stiener 1st Gear August 22, 2011 Share August 22, 2011 Need to work out 2 figures. Outstanding loan each year and your paper value ( unused COE + PARF and body value). When the 2 figures even out, that will be your break-even year. Pls note that your PARF % reduces as you move towards the 10th year. Hope that I didn't confuse you. Link to post Share on other sites More sharing options...
Mecontle 1st Gear August 22, 2011 Share August 22, 2011 how to break even when u still owe bank $$ Link to post Share on other sites More sharing options...
1fast1 Supersonic August 22, 2011 Share August 22, 2011 Fellow bros, Kind if silly to ask but may i know how do u guys calculate when is ur car going to break even? if the current coe continues to soar, hw will it affect? Thanks in advance The simplest way is to call up the bank and find out your outstanding loan amt. Call that A). Next, surf SG car mart to find cars of your model and close to the same age. Deduct about $5k off that for dealer markup/buyer-bargaining, etc. to be conservative, and call that amount B). The moment B) is equal to (or just greater than) A) is when you've broken even. Calculating based on your actual COE, PARF, body value etc. will neglect current market forces (important when the market is driving up car prices, like recently). Link to post Share on other sites More sharing options...
Strudel- 1st Gear August 22, 2011 Share August 22, 2011 The simplest way is to call up the bank and find out your outstanding loan amt. Call that A). Next, surf SG car mart to find cars of your model and close to the same age. Deduct about $5k off that for dealer markup/buyer-bargaining, etc. to be conservative, and call that amount B). The moment B) is equal to (or just greater than) A) is when you've broken even. Calculating based on your actual COE, PARF, body value etc. will neglect current market forces (important when the market is driving up car prices, like recently). Outstanding loan is easy to calculate but how do you work out this paper value (I have no f--king idea what that is)? Link to post Share on other sites More sharing options...
Ken4555 1st Gear August 22, 2011 Share August 22, 2011 how to break even when u still owe bank $$ after you sell your car get the $$$ then pay the bank then dont owe liao lah... Link to post Share on other sites More sharing options...
Sforester 1st Gear August 22, 2011 Share August 22, 2011 I will suggest don't even bother to include in the body value, because it is so subjective. The next buyer/dealer would not even factor in that anyway. on a side note (sorry, digress a bit), everyone is focusing on monthly installements (affordability), and not on depreciation value anymore. The SE and dealers are all encouraging it now... Its just wrong.. haizz... Link to post Share on other sites More sharing options...
Mecontle 1st Gear August 22, 2011 Share August 22, 2011 after you sell your car get the $$$ then pay the bank then dont owe liao lah... ever heard of log card? Link to post Share on other sites More sharing options...
Ken4555 1st Gear August 22, 2011 Share August 22, 2011 ever heard of log card? what about it? Link to post Share on other sites More sharing options...
The_Bear Turbocharged August 22, 2011 Share August 22, 2011 what about it? Log Card - the card that comes with the Christmas Log Cake. Never eat before issit? Link to post Share on other sites More sharing options...
Idunspeed 1st Gear August 22, 2011 Share August 22, 2011 hahaha.. self pawned.. Link to post Share on other sites More sharing options...
Carmour 4th Gear August 22, 2011 Share August 22, 2011 If you need break-even point for new cars, search for the model you want in sgcarmart. It will tell you when will you break-even based on paper value and rule 78. Eg. Vios base model http://www.sgcarmart.com/services/loan_cal...amp;Subcode=880 If take 90% loan over 10 years, You break even on the 9th year Link to post Share on other sites More sharing options...
Stiener 1st Gear August 22, 2011 Share August 22, 2011 how to break even when u still owe bank $$ When you scrap the car and the amount you get is more than your outstanding loan. Link to post Share on other sites More sharing options...
SimonTan 2nd Gear August 22, 2011 Share August 22, 2011 I dare not even calculate my Honda jazz seven years loan break even period. Just take it as rental...for seven years. If no break even, when it comes to change new cars...99% still change anyhow. Just take it as a balloon loan...sell time need to top up whatever amount. No body really cares, unless one downpayment a large amount, most who takes low downpayment and maximum loan will be in negative for more than 5 years at least. Link to post Share on other sites More sharing options...
Stiener 1st Gear August 22, 2011 Share August 22, 2011 For me, I have noted the breakeven year to know when can I bail out if I really can afford to pay the instalment or in the event of total lost (cannot control one). So once, I reach the breakeven year, I can review my options. Link to post Share on other sites More sharing options...
Jasonjst 3rd Gear August 22, 2011 Share August 22, 2011 Fellow bros, Kind if silly to ask but may i know how do u guys calculate when is ur car going to break even? if the current coe continues to soar, hw will it affect? Thanks in advance Your question should be what is total lost for using your car in say 1 years , 2yr , 3yrs .... 10 yrs ! Link to post Share on other sites More sharing options...
Sash1401 4th Gear August 22, 2011 Author Share August 22, 2011 How will the current Coe haf an effect on the value of the car should u decide to sell? Link to post Share on other sites More sharing options...
Dafansu Turbocharged August 22, 2011 Share August 22, 2011 How will the current Coe haf an effect on the value of the car should u decide to sell? COE up, your car price also up. My vios now can sell for about 30k. When coe at it's lowest 2 years back, I can only sell it for about 20K ↡ Advertisement Link to post Share on other sites More sharing options...
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