Need some advise

[alphacorsair]

Hi Guys, need some advice. I am currently paying the auto loan for my car. I am thinking of giving up the car but know that i will lose money but no choice. Instead of selling it to second car agent, can i ask the bank to sell it off and then pay the difference through a loan.

Sorry to sound pathetic but no choice no reserve to pay the difference. Have to resought to this.

[Adrianli]

I dont think the bank will help u sell ur car. Normally bank will repocess cars that ppl do not pay their loan. Then these cars will be auctioned off and it will definately at a lower selling price. Then the bank bill u the difference!!!


Since u made up ur mind to sell off ur car, go check out the price of ur car worth and check out ur outstanding loan plus Rule no.78.

Then discuss with ur finance company how u gona settle the remaining loan. Then proceed to sell ur car to whoever that quote u the highest. Normally private buyer will get u a better price while dealers will give u all kind of crap to cut price!!!

What car u driving n which yr?

[Adrianli]

Let me quote u an example of mine.

I been driving my COE car for 2.5yrs and decided to scrap it early tis yr and get a second hand car. After 2 months of searching, I found a car that suits my budget from a dealer.

I chose a dealer cos I do not wish to do the paper work n run around like a headless chicken.

I called up my bank n check out my outstanding at that time. It was 4K difference after scrapping my car by the dealer who will take a 6% cut from the remaining COE value of the car.

Tis dealer was very steady, he never charge me "coffee $$$" and returned me my remaining road tax value as I always renew my road tax in full. But I bought my next car from him lah. So he earn a little bit from that sale also but not as much cos I bargain a lot.

Imagine, the new car cost S$58K then but I got the exact same car 7mth old for S$51K. Why cannot buy!!!! I always tell ppl, buy car need to be patient one. Its a buyer's market, the dealers r desperate cos of the price of new cars now so low!!!

While I was looking during that time, a desperate dealer wana sell me a KIA Rio. I told him no leather seat, he say he fix for me. I told him stock rims, he say he let me choose the type of sports rim from his place. I told him no window tinting, he say he will do it for me. I told him servicing how, he say he bring car for full evaluation n servicing at his cost. In the end I did not purchase it cos I was not looking at Korean cars.

[HZM]

I sold my second car myself. Yes I had to admit there is a lot of irritating dealers out there giving u ridiculous quote or empty promise. You just need to go thru to experience some unethical tatic ......

The newspaper are selling my type of car @ $59K but most dealer called me up upon seeing my ad and offer between $48k-$52k. Some promise you over the phone $58K but upon meeting up give whole lot crap excuse and end up at $51K Basically if you choose to sell car on yr own, get ready for some really difficult situation, selling thru bank gonna yeild the lease as mentioned by Adrainli.

I ended up selling to one guy who owns a repair shop for $57K. He is helping one of his relative looking for a company car for their worker. And yes, no whatever fees, he paid me a deposit and do his own financing

I would advise you drive your car to several dealer and ask them to qoute a price. Try to look at newspaper on the same yr same model to gauge how much yr car gonna fetch. Maybe try advertising for 1 weekend and get a feel ~ $30 per ad of 3 lines.

Lastly, let us know the make, model and age of yr car. I am sure it will give us a better picture. Who knows someone out here might able to strike a deal w u.

Cheers

Mike

[Tele]

yeah I am currently loking into cars so post what you have and what you are after and some ppl here might have a look as see what they like

[alphacorsair]

thanks guys. 1st time in this.

my car make is as follows.

toyota vios.
1.5E manual
mileage about 68k as i work quite far from home so abit of traveling
Mar 2003 registered.

[CoolMX]

thanks guys. 1st time in this.

my car make is as follows.

toyota vios.
1.5E manual
mileage about 68k as i work quite far from home so abit of traveling
Mar 2003 registered.

Normally there are 2 options if one wants to change car in days like this;

1) Scrap - Just take back paper value.
2) Trade in & change new car - They will be able to give you up to $2K above paper value.
3) Export - This is the way to go Nowadays, as they are willing to pay up to $5K above paper value depend on make and model.

Cheers
Kelvin

[alphacorsair]

Normally there are 2 options if one wants to change car in days like this;

1) Scrap - Just take back paper value.
2) Trade in & change new car - They will be able to give you up to $2K above paper value.
3) Export - This is the way to go Nowadays, as they are willing to pay up to $5K above paper value depend on make and model.

Cheers
Kelvin

Hi CoolMX, how do you Export the car then. Do you sell it to dealers too and tell them its for export to get the higher value. By the way, what do you mean by "above paper value".

[$h@d0w]

"paper value" means the amount you'll get from the unused COE and ARF values. "above paper value" means you might something more than the "paper value". To check your "paper value", click here .

[Adrianli]

Hi CoolMX, how do you Export the car then. Do you sell it to dealers too and tell them its for export to get the higher value. By the way, what do you mean by "above paper value".

U go to www.onemotoring.com.sg website, click on the LTA scroll down menu and click on "Online Enquires". Then select COE/Parf Rebate.

Key in ur NRIC no., vehicle no. and today or tmr date.

Thatz ur paper value!!!


If dealer offer anything more, its into ur pocket or the finance company pockets!!!

[alphacorsair]

While, just check it out. So does that mean to add up the PARF and COE and thats the selling price which i can fetch now.

[alphacorsair]

oh yeah, any question. do i need to tell the buyer or dealer the PARF & COE value.