Burnz Neutral Newbie May 5, 2004 Share May 5, 2004 considering a Subaru Impreza 1.6 TS manual now... less than 2 yrs old, low mileage... was calculating the paper value (PARF + COE rebate??) of the car, which comes up to around $40k at this point... so going by that, if i were to pay around $58-60k for the car, is that considered too much of a premium to pay on top of the paper value? or am i missing some elements here that contribute to the car's market value? sorry, newbie at this.. appreciate any help from the lao jiaos here ↡ Advertisement Link to post Share on other sites More sharing options...
Hitman Neutral Newbie May 5, 2004 Share May 5, 2004 (edited) considering a Subaru Impreza 1.6 TS manual now... less than 2 yrs old, low mileage... was calculating the paper value (PARF + COE rebate??) of the car, which comes up to around $40k at this point... so going by that, if i were to pay around $58-60k for the car, is that considered too much of a premium to pay on top of the paper value? or am i missing some elements here that contribute to the car's market value? sorry, newbie at this.. appreciate any help from the lao jiaos here 40K only ?? Is that correct ?? Thats about the same as my 323 registered in 1999 If 58K ask ... then I say too high I dun know about the rest of the brothers here but my stand is based on S$58 K + interest can add to S$66K easy for 7 year financing. Thus cost of car in total is S$66K .... but your car value is only 40K ... siaolah .. how to break even like that Edited May 5, 2004 by Hitman Link to post Share on other sites More sharing options...
Burnz Neutral Newbie May 5, 2004 Author Share May 5, 2004 40K only ?? Is that correct ?? Thats about the same as my 323 registered in 1999 If 58K ask ... then I say too high I dun know about the rest of the brothers here but my stand is based on S$58 K + interest can add to S$66K easy for 7 year financing. Thus cost of car in total is S$66K .... but your car value is only 40K ... siaolah .. how to break even like that ok, maybe i'm calculating it wrongly... would be great if you can help me with this: registration date: Aug '02 OMV: $14,770 COE: $30,000 something am i missing something here? Link to post Share on other sites More sharing options...
Hitman Neutral Newbie May 5, 2004 Share May 5, 2004 No ... calculate PARF Rebate and COE Rebate Link to post Share on other sites More sharing options...
Mydotcom 1st Gear May 5, 2004 Share May 5, 2004 (edited) registration date: Aug '02 OMV: $14,770 COE: $30,000 something At this moment: ARF: 130% of OMV => $19201 ARF rebate: 75% of ARF => $14400 COE rebate: 80% of COE => $24000 (Assumming 30K COE) PARF value: 14400 + 24000 => $38,400 Lower than $40K Edited May 5, 2004 by Mydotcom Link to post Share on other sites More sharing options...
Burnz Neutral Newbie May 5, 2004 Author Share May 5, 2004 No ... calculate PARF Rebate and COE Rebate hmmm... even with full PARF and COE rebate (as new), it would only mean $45k max for paper value... so that's still quite a premium... there must be some other way of valuing instead of just PARF + COE rebate, especially for relatively new cars... hmmm Link to post Share on other sites More sharing options...
Hitman Neutral Newbie May 5, 2004 Share May 5, 2004 registration date: Aug '02 OMV: $14,770 COE: $30,000 something At this moment: ARF: 130% of OMV => $19201 ARF rebate: 75% of ARF => $14400 COE rebate: 80% of COE => $24000 (Assumming 30K COE) PARF value: 14400 + 24000 => $38,400 Lower than $40K Do you think asking for S$58K is too high Link to post Share on other sites More sharing options...
Hitman Neutral Newbie May 5, 2004 Share May 5, 2004 (edited) No ... calculate PARF Rebate and COE Rebate hmmm... even with full PARF and COE rebate (as new), it would only mean $45k max for paper value... so that's still quite a premium... there must be some other way of valuing instead of just PARF + COE rebate, especially for relatively new cars... hmmm Actually you could be right there .... but I would haggle it down to say S$52K Try to find out if possible how much the 1st owner paid for the car brand new ... then you canmake judgement from there ... try asking Motorimage for the price of the TS during the time of original purchase at that time. Try to estimate from there also can But cannot be max at 45K ley ... I dun think so anyway ... wait let the other bros put in their inputs Edited May 5, 2004 by Hitman Link to post Share on other sites More sharing options...
Burnz Neutral Newbie May 5, 2004 Author Share May 5, 2004 Actually you could be right there .... but I would haggle it down to say S$52K Try to find out if possible how much the 1st owner paid for the car brand new ... then you canmake judgement from there ... try asking Motorimage for the price of the TS during the time of original purchase at that time. Try to estimate from there also can But cannot be max at 45K ley ... I dun think so anyway ... wait let the other bros put in their inputs as far as i know, the car was bought at $81k brand new back in Aug '02, so with that in mind, $58k for 20 month old car really isn't bad at all. or as my friend advised me, call up dealers and pretend to sell a similar car, and get a quote from them... or go jalan a bit, find similar car and discount 2-3k off dealer price to get a good estimate on market value when buying from private seller... seller was telling me some dealers quoted him $57-58k if he wanted to sell... Link to post Share on other sites More sharing options...
Mydotcom 1st Gear May 5, 2004 Share May 5, 2004 (edited) PARF value at the end of 10 yrs => ~$10K So yearly dep => (58K - 10K) / 8 yrs => ~$6K/year Personally, I would think that 6K a year in this current market is abit steep leh. Don't know about what others think of this dep But then again, its a TS... Edited May 5, 2004 by Mydotcom Link to post Share on other sites More sharing options...
Mydotcom 1st Gear May 5, 2004 Share May 5, 2004 Actually cannot see car price at the time it was bought. You should compare it with current new car price instead. If the car was bought at a very much higher price, then the owner can only blame himself for buying at the wrong time mah. Cannot make the buyer share his 'loss'. Imagine you buy a 2nd hand car at price only slightly lower than a current brand new just because the prev owner bought it ex. Not logical right? Whats the price of a TS currently? If it means you having to top up 10K to get a brand new TS, then it doesn't make sense for you to get a 1+ yrs old car now. Link to post Share on other sites More sharing options...
Hitman Neutral Newbie May 5, 2004 Share May 5, 2004 Actually you could be right there .... but I would haggle it down to say S$52K Try to find out if possible how much the 1st owner paid for the car brand new ... then you canmake judgement from there ... try asking Motorimage for the price of the TS during the time of original purchase at that time. Try to estimate from there also can But cannot be max at 45K ley ... I dun think so anyway ... wait let the other bros put in their inputs as far as i know, the car was bought at $81k brand new back in Aug '02, so with that in mind, $58k for 20 month old car really isn't bad at all. or as my friend advised me, call up dealers and pretend to sell a similar car, and get a quote from them... or go jalan a bit, find similar car and discount 2-3k off dealer price to get a good estimate on market value when buying from private seller... seller was telling me some dealers quoted him $57-58k if he wanted to sell... Ok i see you have done your homework Then it should be ok .... but remember , I did say .... I wouldnt buy it at 58K , I would haggle down somemore. Just try your luck lah .... who knows. Just like MyDotcom says .... 6K per year a bit too steep ... and his calculations is based without loan interest ley Link to post Share on other sites More sharing options...
Hitman Neutral Newbie May 5, 2004 Share May 5, 2004 Actually cannot see car price at the time it was bought. You should compare it with current new car price instead. If the car was bought at a very much higher price, then the owner can only blame himself for buying at the wrong time mah. Cannot make the buyer share his 'loss'. Imagine you buy a 2nd hand car at price only slightly lower than a current brand new just because the prev owner bought it ex. Not logical right? Whats the price of a TS currently? If it means you having to top up 10K to get a brand new TS, then it doesn't make sense for you to get a 1+ yrs old car now. Link to post Share on other sites More sharing options...
Burnz Neutral Newbie May 5, 2004 Author Share May 5, 2004 PARF value at the end of 10 yrs => ~$10K So yearly dep => (58K - 10K) / 8 yrs => ~$6K/year Personally, I would think that 6K a year in this current market is abit steep leh. Don't know about what others think of this dep But then again, its a TS... true... did my sums too on the depreciation... brand new TS 1.6M with the accessories would be around $76-77k now... so i guess it's still a decent deal... seller still has around $57k outstanding loan to settle, so doubt he'd consider anything below that since his car is indeed in very good condition, and low mileage... thanks for the great advice bros! Link to post Share on other sites More sharing options...
Hitman Neutral Newbie May 5, 2004 Share May 5, 2004 PARF value at the end of 10 yrs => ~$10K So yearly dep => (58K - 10K) / 8 yrs => ~$6K/year Personally, I would think that 6K a year in this current market is abit steep leh. Don't know about what others think of this dep But then again, its a TS... true... did my sums too on the depreciation... brand new TS 1.6M with the accessories would be around $76-77k now... so i guess it's still a decent deal... seller still has around $57k outstanding loan to settle, so doubt he'd consider anything below that since his car is indeed in very good condition, and low mileage... thanks for the great advice bros! Eh u buying direct from buyer ar Link to post Share on other sites More sharing options...
Mydotcom 1st Gear May 5, 2004 Share May 5, 2004 (edited) Brand new is $75K (TS 1.6MT) Assumming same OMV. therefore PARF should be: ARF => 110% of OMV => $16247 PARF => 50% of ARF => $8123 Annual Dep => ($75K - $8K) / 10 => $6700 Edited May 5, 2004 by Mydotcom Link to post Share on other sites More sharing options...
Burnz Neutral Newbie May 5, 2004 Author Share May 5, 2004 Brand new is $75K (TS 1.6MT) Assumming same OMV. therefore PARF should be: ARF => 110% of OMV => $16247 PARF => 50% of ARF => $8123 Annual Dep => ($75K - $8K) / 10 => $6700 hmm... so in your opinion, what would be a sweet spot to buy the car at? Link to post Share on other sites More sharing options...
Burnz Neutral Newbie May 5, 2004 Author Share May 5, 2004 Eh u buying direct from buyer ar yeah, buying direct from seller... any issues i need to be aware of? ↡ Advertisement Link to post Share on other sites More sharing options...
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