Weird OMV valuation

[stanleymyc]

Was trying to make sense of OMV value given by LTA.

 

Mitsubishi Attrage 1.2L, perodua Bezza 1.2L premium

 

The OMV is higher than a 1.6L Korean sedan - Hyundai and Kia. What’s the logic behind this?

 

I think higher by at least 1K.

 

But the korean car price higher by 10-15K now despite lower OMV.

[Kusje]

Isn't omv declared by the dealer?

[Brass]

Was trying to make sense of OMV value given by LTA.

 

Mitsubishi Attrage 1.2L, perodua Bezza 1.2L premium

 

The OMV is higher than a 1.6L Korean sedan - Hyundai and Kia. What’s the logic behind this?

 

I think higher by at least 1K.

 

But the korean car price higher by 10-15K now despite lower OMV.

Because of cevs/ves

[Cypher]

Because of cevs/ves

AD need to maintain profit margin..CEVS/VES rebate around 7-8K for Attrage/Bezza.

Edited December 28, 2017 by Cypher

[ER-3682]

Was trying to make sense of OMV value given by LTA.

 

Mitsubishi Attrage 1.2L, perodua Bezza 1.2L premium

 

The OMV is higher than a 1.6L Korean sedan - Hyundai and Kia. What’s the logic behind this?

 

I think higher by at least 1K.

 

But the korean car price higher by 10-15K now despite lower OMV.

You can E-Mail to IRAS,Custom Dept, ask them to check out on this,last time a few P.I. Dealers also did the same,end up the under declared Dealers all went to Jail.

[Sdf4786k]

You can E-Mail to IRAS,Custom Dept, ask them to check out on this,last time a few P.I. Dealers also did the same,end up the under declared Dealers all went to Jail.

 

best part is IF you have actual good source, you be rewarded

 

https://www.iras.gov.sg/irashome/Contact-Us/Report-Tax-Evasion/#Rewards

[stanleymyc]

AD need to maintain profit margin..CEVS/VES rebate around 7-8K for Attrage/Bezza.

Yes I figure out after you pointed out this, some mark up some lower down with certain agreement.

 

Only can say Korean car buyer buying cheaper price than global lol (based on omv)

[inlinesix]

You can E-Mail to IRAS,Custom Dept, ask them to check out on this,last time a few P.I. Dealers also did the same,end up the under declared Dealers all went to Jail.

 

This is definitely not due to undeclared lah.

[Cypher]

Previously, PIs are known to bring in bare bone cars and install accessories locally to keep the OMV low.

I believe Korean cars are modular by design. Eg, cruise control can be activated by just installing the steering console so....

Just my opinion only...

[Tkseah]

Komoco bring in hyundai quite bare n install stuff like leather seats, rims etc. locally.. Hence the lower omv..

[Leo72]

Komoco bring in hyundai quite bare n install stuff like leather seats, rims etc. locally.. Hence the lower omv..

You're right, the more bare the car is when the dealer bring in, the lower the OMV The dealer can also bring in the original HU, Sport rims and accessories separately and install it locally, some AD actually install the aircon locally and not factory fitted. I had seen Vezels out of Vicom (after VITAS) with steel rims, not sport rims.

[Apple-Tree]

Haha ....... OK.  Let me share with you all my case.  I bought a car and it is registered in Nov.

 

I waited the whole month for LTA to release the AVERAGE Car Cost for Nov lor.

 

The LTA Ave OMV for my car is $21500.  But hor my OMV is $20000 lor or 6% lower than ave or $1500.  My eventual scrap value will be lower by about 700 lor .....

 

My car is a brand new car hor ........ not TD not demo unit not display unit hor

 

My thought is Custom and LTA are still happy, they collected tax, gst, excise duty, ARF, COE ..........  collecting $2000++ less ..... is OK ba

 

On my side, when I signed the PA I doubted I will get the car lor, the margin is too low ....... much less than 10K lor...... SE said OK one ...... good chance.

 

Just a small adjustment, everybody is happy.  Garment is Very Happy, C&C is Very Happy and I am Very Happy too .....

 

So, you all understand how the car cost work ?  I understood now lor ....

 

For the JapB&B and Mal B&B vs Kor B&B ........ customs will tell you ... the Economic of Scale excuse lor ...... or Korean Won drop ma or Korean Car maker are abit hardup for business as China boycott due to Thadd lor ........

 

As for why Korean Car is 10K more ....... OK ........ if you have FB, go LIKE Mazda SG and Toyota SG pages ....... you will see Kia SG suggested post come up one ...... check WHY AM I SEEING THIS  option ........ due to Age Group, You LIKED Mazda SG, You LIKED Toyota .....lor  

 

Happy New Year !!

 

 

 

 

Was trying to make sense of OMV value given by LTA.

Mitsubishi Attrage 1.2L, perodua Bezza 1.2L premium

The OMV is higher than a 1.6L Korean sedan - Hyundai and Kia. What’s the logic behind this?

I think higher by at least 1K.

But the korean car price higher by 10-15K now despite lower OMV.

 

Edited December 30, 2017 by Apple-Tree

[Davidklt]

Its about markup.

[Xers007]

Komoco bring in hyundai quite bare n install stuff like leather seats, rims etc. locally.. Hence the lower omv..

Yah they very busuk, all those NOT factory fitted items only 1 year warranty although they say the car 5 years warranty. And there are quite a lot of items.