Changing from Sedan to Sports

[Jazz]

Ya I did trade in for my vios for the current latio. I couldn't remember the OMV but think was about $11K and COE about $26K. For my 2.2 year old car, plus the $11K body value, total cost I fetch was about $41K.

Maybe you are right, selling privately, trade in or selling to dealer could have different value. You really need to hunt for the best deal. I think TC got a good value compare with other dealers. Moreover my previous car was quite 'lok' with scratches left behind by vandalism, bumper dented, also didn't deduct the value. Probably got a good SE.

So I wonder how the dealer going to sell you car for. 

[Jazz]

2k in body value?
OMG.
Okay my bad in the explainations.
But 2k in body is mad.
My latio body value, got it at 8k.....

Yes, since you also visit MCF right? Did you see 1 thread asking if $1K body value for his Sunny? Crazy tio bo? 

[best_ctzn]

Yes, since you also visit MCF right? Did you see 1 thread asking if $1K body value for his Sunny? Crazy tio bo? 

I was the one posted the thread there. 

My friend was bochap abt cars, so anyhow accept whatever the dealer proposed. Ganna cheated at least 5k! But think he can take it lah. Just have to be careful next time and do more homework when dealing with 2nd hand dealers. Got to have a feel of how much our ride can fetch, otherwise will be asily taken for a ride!

[Jazz]

I was the one posted the thread there. 

My friend was bochap abt cars, so anyhow accept whatever the dealer proposed. Ganna cheated at least 5k! But think he can take it lah. Just have to be careful next time and do more homework when dealing with 2nd hand dealers. Got to have a feel of how much our ride can fetch, otherwise will be asily taken for a ride!

Your friend is bo chap or is he rich. 

[best_ctzn]

Your friend is bo chap or is he rich. 

Think both lah. But I feel bad because I recommended him the contact. His fault also as he insisted on doing it himself. So cannot really blame me lah.

[Jazz]

Think both lah. But I feel bad because I recommended him the contact. His fault also as he insisted on doing it himself. So cannot really blame me lah.

Since he alright with the low offer and din blame you. Then forget it and move on.

But body value is subjective and not fix. It really depend on dealers quotes unless private selling. 

[vortex]

So I wonder how the dealer going to sell you car for. 

The only way out is probably exporting it overseas like Sri Lanka where there is still demand for used car less than 3.5 years.

When I was hunting for my net car, both TC and BM gave my vios body value around $11K. But the Mitshubishi agent gave only $8K 

[best_ctzn]

The only way out is probably exporting it overseas like Sri Lanka where there is still demand for used car less than 3.5 years.

When I was hunting for my net car, both TC and BM gave my vios body value around $11K. But the Mitshubishi agent gave only $8K 

Think almost all the ADs will give poor resale value for any trade-in cars, with except of the Tampines Nissan reseller branch which my colleague got a very good deal. I talking abt personal encounter.  External 2nd hand dealer will surely give better deal if you bother to ask around. But then agsin, only the AD agents allow you to seamlessly handover ur old car when collecting new car. It is impossible to gauge the collection date of new cars if it is indented from overseas factory which is in term of months. If already in port, then will be less than 3 weeks. There was a 2.5 weeks gap for my case when I handed over my Sports and yet to collect my new ride, and I was really crippled trying to ferry my kids for enrichment classes on weekends in different places with very little transfer time. I could have rented a car but did not thinking that I could handle it anyway. So it was another lesson learnt for me - never to be without any cars on weekends when transferring to new rides in future.

Actually the dealers generally have big holding power. The dealer who bought my car has alot of free parking space outside his shop in hougang. 6-month road tax is abt $400 while he will be getting 3k commission when he manage to sell it. So not too bad lah.

[vortex]

Actually the dealers generally have big holding power.

I think you are right to say that. When I got my current ride from TC, including the COE biddings and the shipment time, the waiting period is about 2 months. But then I had already signed the dotted line with them and they would honour the deal. I did not have to worry about the continual depreciation of the old car, and yet have it exchanged when the new car arrived. 

[Jazz]

The only way out is probably exporting it overseas like Sri Lanka where there is still demand for used car less than 3.5 years.

When I was hunting for my net car, both TC and BM gave my vios body value around $11K. But the Mitshubishi agent gave only $8K 

Your Mitsubishi agent from C&C ? $3K difference. 

[vortex]

Your Mitsubishi agent from C&C ? $3K difference. 

Yap, probably the SE thought my name is Robert. Even if I like her car, I will not buy from her. Will try to get from another C&C agent from other branches.

So always do your homework before you buy or sell. 

[mirage1978]

wow... so many replies oredi... am currently in China so dun have much time to check the forum...
i've checked on my car details via onemotoring...
OMV = $15k
COE = $14.5k
Loans (6yrs) outstanding = ~$21k
Car price (Dec 05) = $59.5k

Yesterday, the TC SE called me that my trade off value would be about 35k... not sure what it means...

[HumbleCar]

wow... so many replies oredi... am currently in China so dun have much time to check the forum...
i've checked on my car details via onemotoring...
OMV = $15k
COE = $14.5k
Loans (6yrs) outstanding = ~$21k
Car price (Dec 05) = $59.5k

Yesterday, the TC SE called me that my trade off value would be about 35k... not sure what it means...

Roughly, what it means is that you can sell your car for 35K.  As you still owe the bank 21K, you can take back 14K.

Actual amount you owe the bank should be less because of interest rebate.  To work out the actual interest rebate, need to know your monthly installment amount, number of months of outstanding installment left (should be about 43 months) and total loan period (should be 72 months since you mentioned 6 year loan).  This means you can take back > 14K.

Depreciation of your car over 2.5 years is about 24K (excluding interest).

[HumbleCar]

ASSUMING yours is a sedan. A dec 05 sedan should have cost you abt 60 plus k ..
Selling prices of 2nd hand Dec 05 ones, now, range from 40-45k.. So assuming the dealer earns 3-5k for your car. Lowest price you can get for your car now, is maybe 40k ? Or maybe 42k ?
Then just do simple maths. How much a latio sports is selling now - your trade in price = How much you top up.

Buying car is always losing money. It's only about HOW MUCH you wish to loose .

My 0.0002 cents worth. 

Ah Boy, the trade-in amount he got is below your estimate by 5-7K.  You got lobang to help him get a better deal?

[latioboy91]

Ah Boy, the trade-in amount he got is below your estimate by 5-7K.  You got lobang to help him get a better deal?

I got a much higher trade in amt due to 2 factors. OMV AND COE
My OMV is 17 close to 18. COE is 22k.
So that's where the higher trade in comes into place.
Also, maintainence. haha
cause my SE knows i maintain my cars like my wife or something =]

I can help him get a deal lah

he can pm me his details lor.

[Jazz]

I got a much higher trade in amt due to 2 factors. OMV AND COE
My OMV is 17 close to 18. COE is 22k.
So that's where the higher trade in comes into place.
Also, maintainence. haha
cause my SE knows i maintain my cars like my wife or something =]

I can help him get a deal lah

he can pm me his details lor.

You so young yet your connection so good?