Car Valuation

[Extremme]

Planning to sell my car and in need to get a valuation. I know there are some links available like motoristsg or quotez. 

Of course its every car owners interest to get a higher quote, would the difference be alot between different valuation coy? I reckon not right?

 

[macrosszero]

Find your corresponding model in SG Carmart, take 5-8k off that price and that is probably what you get. Or if you have a model with extremely poor resale, scrap value (residual COE and PARF rebate) is what you’d likely get as trade.

[Ct3833]

6 minutes ago, Extremme said:

Planning to sell my car and in need to get a valuation. I know there are some links available like motoristsg or quotez. 

Of course its every car owners interest to get a higher quote, would the difference be alot between different valuation coy? I reckon not right?

 

price difference Will be huge if your car is a high end premium model.  Like  what@Macrosszero said, take ref from Sgcarmart section will be a good start. 

But if your car is non mainstream or high COE type, then it will be closed to paper value. One example will be those  2013 cars.

Edited January 3, 2020 by Ct3833

[Extremme]

mine is a 2 year old + BMW 216d but surely the buyer will need some official document from legit website at least to proof the valuation right

 

so any recommended website for me to get a good valuation?

Edited January 3, 2020 by Extremme

[Extremme]

33 minutes ago, Macrosszero said:

Find your corresponding model in SG Carmart, take 5-8k off that price and that is probably what you get. Or if you have a model with extremely poor resale, scrap value (residual COE and PARF rebate) is what you’d likely get as trade.

I checked equivalent model and year on sgcarmart. I know it depends on other factors like millage too . I could see its about 93k so taking away 5k like you suggested its abt 88k. One of the valuation website here cited me only $80k?? !

Edited January 3, 2020 by Extremme

[macrosszero]

15 minutes ago, Extremme said:

I checked equivalent model and year on sgcarmart. I know it depends on other factors like millage too . I could see its about 95k so taking away 5k like you suggested its abt 90k. One of the valuation website here cited me only $80k?? !

A valuation is simply that - a number. In my case you chose to take away 5k and not 8k for your own reasons. 80k is quite bad for a 2-3 year old car but COE is probably higher then.

You need to be pessimistic not optimistic about your estimates because that’s what any buyer of your car would do. For example the variance of a 2 year or 3 year age would net you 10-11k difference, and you need to look at the spread of used cars matching your age and not simply aim at the highest-priced to set your expectations.

 

All things aside, selling a nearly new car will always guarantee massive losses, what more in a down-trending COE market when prospective buyers cannot see the point paying near-new car depreciation for a used car.

[inlinesix]

37 minutes ago, Extremme said:

I checked equivalent model and year on sgcarmart. I know it depends on other factors like millage too . I could see its about 93k so taking away 5k like you suggested its abt 88k. One of the valuation website here cited me only $80k?? !

It is likely that diesel is not popular within used car dealers.

Previously, i sold my CEO car via my car SE.

[Spring]

44 minutes ago, Extremme said:

I checked equivalent model and year on sgcarmart. I know it depends on other factors like millage too . I could see its about 93k so taking away 5k like you suggested its abt 88k. One of the valuation website here cited me only $80k?? !

There is no such thing as valuation for cars unlike property. Valuation is subjective and it's a willing buyer, willing seller market.

Like what some of the bros mentioned, a guide would be from sgcarmart but that "valuation" is for u as a seller to have an indication of what is the market rate, u are not obliged to provide buyer with proof of "valuation". Buyer shld do his own homework n conclude if your car is worth buying or not. Onus shld not be on u to prove your car is worth that price. Hope this helps.

[Sx4falcon]

If you are selling direct, take $5K-$8K off sgcarmart price is reasonable. But if you are selling to dealer or trade-in to new car dealer, take at least $10K-$15K off.

Put yourself in buyer's POV, will you negotiate for lower price from the advertised price? How much will you negotiate down?

If selling to dealer, beside do up the car after taking in, they need to buffer depreciation while holding the car plus they need to profit from the transactions.

[Tianmo]

5 hours ago, Extremme said:

Planning to sell my car and in need to get a valuation. I know there are some links available like motoristsg or quotez. 

Of course its every car owners interest to get a higher quote, would the difference be alot between different valuation coy? I reckon not right?

 

Sound like you are trying to sell to direct buyer.

Your so call "valuation" of your car, which in actual fact is the common selling price for your make and year, can be obtain from Sgcarmart used car section. Just go to the used car section, filter by your car brand, model, year of registration, and you will likely get a list of all similar cars on sales, unless yours is so new that nobody is letting go in the used car market yet. 

From there you will have an idea of how much your car is worth in the used car market, which is your "valuation" of your car.  

Direct buyers would have done all their home work already, nobody is interested in your "Valuation", direct buyers are only interest in how much cheaper can they get the car from you compare to buying the same car from a used car dealer. 

As for you, what you really need to know is what is the highest price any dealer is willing to pay for your car, and how much higher can you get selling to a direct buyer. Then make the choose. 

Do take note that trading in will almost always get a slightly higher price than just selling to a used car dealer without buying another car from them. 

[Extremme]

Thks all. Looks like it seems quite hard to sell directly to buyer at a decent high price cause like any buyer, who does not want to get cheap deals. Its like a waiting game but depreciation will beat me to it. I will probably have to sell it to a dealer before it falls lower. 

 

#buyersmarket

Edited January 3, 2020 by Extremme

[Tianmo]

16 minutes ago, Extremme said:

Thks all. Looks like it seems quite hard to sell directly to buyer at a decent high price cause like any buyer, who does not want to get cheap deals. Its like a waiting game but depreciation will beat me to it. I will probably have to sell it to a dealer before it falls lower. 

 

#buyersmarket

93K and 80k, different 13K, thats about within the range mah.

your kind of car, the spread is likely between 10-15K, depending on whatever factors. 

If you are serious in selling it, why not just spend $107, go to sgcarmart, get them to do advertise for you within their grp of dealers for the highest price. Within the same day you will know what is the highest possible price your car can fetch. 

Assuming 83k is the highest, at least you can write off any dealer that comes lower than that number. Then you look at can you sell the car between 83k and 93k yourself? Are you prepare to go through the work for that extra few thousands? 

Also take note that to sell to a direct buyer, your car has to be fully paid up to do the transfer. 

There are a few threads here on how to sell the car yourself, go take a look first then decide if you want to try DIY or just let the dealer take it. 

[Ct3833]

34 minutes ago, Extremme said:

Thks all. Looks like it seems quite hard to sell directly to buyer at a decent high price cause like any buyer, who does not want to get cheap deals. Its like a waiting game but depreciation will beat me to it. I will probably have to sell it to a dealer before it falls lower. 

 

#buyersmarket

If you have all the service records, try to sell it in between sgcarmart sell price and price that dealers have offered you. Dont forget sgcarmart sell price are negotiable , so dont try to hold your price too hard. 

I bought twice from two difference direct buyers, both are in  between prices. 

[Ct3833]

6 hours ago, Extremme said:

mine is a 2 year old + BMW 216d but surely the buyer will need some official document from legit website at least to proof the valuation right

 

so any recommended website for me to get a good valuation?

Use selling price of the same age and model from sgcarmart would be the best reference. Since dealers offer you 80k, if you can sell it in between sgcarmart price and dealer offer price  wild be win win to all. But because 216d is not exactly a mainstream  model you may have to lower the price from the mid point slightly. 

Edited January 3, 2020 by Ct3833

[Extremme]

25 minutes ago, Tianmo said:

93K and 80k, different 13K, thats about within the range mah.

your kind of car, the spread is likely between 10-15K, depending on whatever factors. 

If you are serious in selling it, why not just spend $107, go to sgcarmart, get them to do advertise for you within their grp of dealers for the highest price. Within the same day you will know what is the highest possible price your car can fetch. 

Assuming 83k is the highest, at least you can write off any dealer that comes lower than that number. Then you look at can you sell the car between 83k and 93k yourself? Are you prepare to go through the work for that extra few thousands? 

Also take note that to sell to a direct buyer, your car has to be fully paid up to do the transfer. 

There are a few threads here on how to sell the car yourself, go take a look first then decide if you want to try DIY or just let the dealer take it. 

thanks all. Yeah already fully paid. Anyway a dealer quoted me $82k  and that is probably the highest for today.  The same make and model for 2016 listed on sgcarmart are not alot. I think its not really that of a popular model since it's diesel.  There is only 1 in the same month and a few nearby. so as bro @Ct3833 mentioned, if I take the average of all the selling price, its abt 90k. if I am lucky to find a buyer at $86k vs the current dealer quote of $82, I might let go now. 

[car50]

20 hours ago, Extremme said:

thanks all. Yeah already fully paid. Anyway a dealer quoted me $82k  and that is probably the highest for today.  The same make and model for 2016 listed on sgcarmart are not alot. I think its not really that of a popular model since it's diesel.  There is only 1 in the same month and a few nearby. so as bro @Ct3833 mentioned, if I take the average of all the selling price, its abt 90k. if I am lucky to find a buyer at $86k vs the current dealer quote of $82, I might let go now. 

U can try to sell via consignment with the target in between price

Or use the car for overtrade deal for your new car

Used Diesel cars in current climate not easy to sell

Once it hits 5 years and above, very near scrap price.

So reasonable to cut some loss now

If u have bought the car at around 125-130k then, then loss over 2.5 years of 40-45k looks OK as normal depreciation should be around 30-35k

 

[mersaylee]

Don’t bother with consignment...a dealer once even guaranteed me if no one buy at my reserve price by a certain time frame his boss would...loads of BS.