Anyone got good deal for 2nd hand car?

[Forte3737]

Quite check on some used cars, notice that the price for korean cars dropped quite a lot. Example like 2011 used elantra, now you can find the average price is about $80K. Before that the price for most used elantra is at least $90K. As for jap cars, didnt find their price drop a lot, price reduced only about $5K.

 

there is strong demand for jap cars. that's why prices still high

[13177]

there is strong demand for jap cars. that's why prices still high

I guess if refering to korean cars like avante, forte and elantra, these model should not be low demand. I think many people still dont mind buying these models as used car.

[Tmcderricktan]

if you really living within your mean and able to afford a car, you should have at least 20k plus on hand and simply wait for some months to grad a cheap good new one la

 

if you dont even have a cash for about 20k even after several month later, its tell that you are not able to afford a car.

 

living within your mean please!

 

:)

[Vinceng]

I looked at prices at sgcarmart and notice that ironically, dealers have raised prices by 5 to 10% since Sat when announcement was made to extend 100% loan for 60 days.

 

So now is not a good time to buy.

[Jano]

i find that korea car expensive, esp when the COE n OMV is low. if halfway thru wana change car, they might take back at paper value. Lugi more

[Hamburger]

bottom line.......

 

stay put for next 2 months.

 

if really can't wait and commit, then brace yourself for the quickest deprecation after when dealers lelong their car after this transitional period.

[Mac_bart]

I use a simple way of calculating whether the car sold is valued or not....this car is priced at 47800..and have a 5 years lifespan.

 

Using a consistent approach...by right first few years depreciation is supposed to be even higher....but then for this purpose, i use a consistent approach, meaning if new car, this would be $47800*2= $95600. In the year 2008, March....is the purchase price at $95,600 or lower?. As lower as possible would be more valuable.

 

Any comments?

 

It will be tough to figure out what the price of the car was in March 2008 without knowing which car you're talking about. However, after consistently seeing asking prices of about $50k (or above) for late 2008/early 2009 Honda Jazzes (which apparently sold for about $60k when new back then - http://www.sgcarmart.com/news/review.php?AID=92&PN=3), I would hazard a guess that the car you're talking about cost much less than $95k back in March 2008.

 

BTW, after looking at 2008/2009 Jazzes and Mazda 2s, my wife and I bought a 2006 VW Polo with low mileage and full service history for $26k (depreciation of just under $6k a year vs $7-9k a year for the Mazda 2s and Jazzes).

[Gearosv2]

I heard a few used car agents got some good deals

 

on second hand cars. They bought at scrap and sold

 

at 5 - 10k profit.

 

 

Few is an under statement man... it should be the opposite, i think only a few used car agents earn less than 3k per transaction.

[13177]

i find that korea car expensive, esp when the COE n OMV is low. if halfway thru wana change car, they might take back at paper value. Lugi more

True, korean cars the OMV overall quite low for the mid range model.

[Cs3004]

Can't agree further. I am sure most buyers have the patience for 2 months. I am waiting for how the next few rounds of COE results before deciding. If the depreciation for a new car vs a 2nd hand is quite close (perhaps 2-3k pa difference), its better off getting a new ride for the assurance. If prices remains the same, the budget is set aside for a 2nd hand ride.

 

If you plan to get one within these 60 days, its safer to assume there will be no warranty for the car. Get a good mechanic to appraise the vehicle before making the purchase.

 

 

New car or second hand car is targeting at different customer. You can say anything if you are rich, but it does not means buying a second hand car is bad. I had bought 5 secondhand car for the past 15 years of driving. It is still cheaper than new car if you need to spend 2-3k to repair the car after collecting. Going back to agent to prevent warranty void is not not for me. You are paying 3time the amount you are paying outside.

For new car, the price is drop by 20% when you collect your car. I usually scrap my car if it is really problematic and I still can get back some cash for my next car.

[Blackyv]

i find that korea car expensive, esp when the COE n OMV is low. if halfway thru wana change car, they might take back at paper value. Lugi more

 

No need to wait half way, the moment u collect the key from agent, ur car already left paper value... don't believe, u ask the agent who sell u the car, how much he will take it back the very day.....

[Eagle8964]

Which resgistration year would be more recommended?

 

Some agents are say buy 06-07 are better now as OMV higher

 

 

 

[Gildor8]

I agree with you....I have been monitoring the use car price...most of the dealer actually increase the selling price listed (not sure after bargain). I think there maybe more buyers around this time due to being able to loan from Bank the whole sum. For those with cash, wait till after 60 days I guess.

[Gildor8]

Depreciation is above 13k for 8yr old car... Ok to expensive price IMO.

 

IMO, it is one of the lowest price around for a CLS350 (if there is no problem to the car).

[Gildor8]

It will be tough to figure out what the price of the car was in March 2008 without knowing which car you're talking about. However, after consistently seeing asking prices of about $50k (or above) for late 2008/early 2009 Honda Jazzes (which apparently sold for about $60k when new back then - http://www.sgcarmart.com/news/review.php?AID=92&PN=3), I would hazard a guess that the car you're talking about cost much less than $95k back in March 2008.

 

BTW, after looking at 2008/2009 Jazzes and Mazda 2s, my wife and I bought a 2006 VW Polo with low mileage and full service history for $26k (depreciation of just under $6k a year vs $7-9k a year for the Mazda 2s and Jazzes).

 

I am actually replying Erykool's question on how to calculate whether there is value...

 

http://www.sgcarmart.com/used_cars/info.ph...673&DL=1045 (car been sold)....cannot see price then.

[Mac_bart]

I am actually replying Erykool's question on how to calculate whether there is value...

 

http://www.sgcarmart.com/used_cars/info.ph...673&DL=1045 (car been sold)....cannot see price then.

 

Sorry, I didn't realise that.

[13177]

Which resgistration year would be more recommended?

 

Some agents are say buy 06-07 are better now as OMV higher

For used car maybe 08 and before are better, due to higher OMV and coe?!

[Passat57]

For used car maybe 08 and before are better, due to higher OMV and coe?!

 

Why do you want to buy used car with high COE? When that car reaches 10 years, the COE value will be zero, regardless of high or low value during registration. More important is how much you are paying now, for the used car.