F10 omv

[Ahbengdriver]

Re: F10 omv

LTA sends you a cheque...

even for a 5th year car? What if I sell to a used car dealer at 4.5 years. You mean LTA still gives me a cheque for 82.5% of OMV?:ehhh:

 

[C3P0]

Re: F10 omv

even for a 5th year car? What if I sell to a used car dealer at 4.5 years. You mean LTA still gives me a cheque for 82.5% of OMV?:ehhh:

LTA only refunds OMV (i.e. parf value) to the registered owner of the car, if the car is scrapped or exported.

example 1
If Ah Seng scraps or export his car registered under his own name, he gets the cheque from LTA.

example 2
If Ah Seng sells his car to a chio dealer call Ah Lian, the car is still running in Singapore, tio boh? So no cheque from LTA.
=> Ah Lian will pay Ah Seng a sum of money that is roughtly equivalent to [remaining OMV+remaining COE+body value]. The car will now be registered under chio Ah Lian's name.
=> However, if chio Ah Lian then exports the car or scraps it, then chio Ah Lian will get the cheque from LTA.

example 3
Ah Seng sells his car to chio Ah Lian, chio Ah Lian will scrap/export it but she will only pay Ah Seng the body value, and she ask Ah Seng to de-register the car under his own name. In this case Ah Seng will get the cheque from LTA.

I hope I get the facts right because I am a little bit confused liao!

 

[zag]

Re: F10 omv

even for a 5th year car? What if I sell to a used car dealer at 4.5 years. You mean LTA still gives me a cheque for 82.5% of OMV?:ehhh:

sorry i was thinking you meant that you are scrapping the car ie. exporting it.. the residual ARF value is cash in the cheque from LTA.

otherwise if the car still plowing singapore roads.. just change of ownership... nothing to do with LTA.

 

[Ahbengdriver]

Re: F10 omv

Oh I see. How on earth do people determine car body value then? arga arga?

 

[Merlin_sg]

Re: F10 omv

can I ask a slightly OT question.

Before end of 5th year and 10th year, if we sell our cars, how does the authorities refund the OMV of 82.5% n 55% to car owners? or is there any even?

If I am not wrong, LTA only based on 60% of your OMV, which is the residual value. Thus when you sell your car, dealer or buyer will based on the PARF value + body value + presumed acceptable depreciaton value based on remaining years and to offer the price.

As for body value, you can check with some companies who does export/scrap. They will give you the body value.

 

[TheNew7]

Re: F10 omv

Oh I see. How on earth do people determine car body value then? arga arga?

I think the body value is estimated, but the difference isn't miles apart (or shouldn't be)... difference may differ up to $5k moving from company to company.

 

[zag]

Re: F10 omv

Oh I see. How on earth do people determine car body value then? arga arga?

for export... the last time i did my 5 year old 530i.. this was what i learned..
less than or equal 5 year and 100km.. india and some third world countries.. less body value.

do bear in mind this trivia.. the ARF depreciation is based on annual reducing rate of calculation and LTA does not do pro rating.
eg .. 4 year 11 months 29 days residual value vs ..and 5 year+ 1 day = one year worth of ARF depreciation difference

 

[aerosports]

Re: F10 omv

Any updates on the latest OMV figures for 523 basic and highline, there are a lots of registration by 30 June as PML is trying to boost their numbers for mid report card.

 

[satinGHOST|r!der]

Re: F10 omv

Any updates on the latest OMV figures for 523 basic and highline, there are a lots of registration by 30 June as PML is trying to boost their numbers for mid report card.

Hahah of course they would. Their sales appear pathetic for the the 5 and 7 series for what is otherwise a very low OMV due to the weakening Euro. Based on their OMV, a similar selling car would be a Honda Accord which is about 130k+. HUGE Markup. Do the maths and its an astronomical rip off. Wonder when they will ever learn to get their act together. Well its always nice to be the first to get the new models but once its common, those who got the cars at low OMV will have a VERY VERY hard time selling if they have to.

 

[Merlin_sg]

Re: F10 omv

Hahah of course they would. Their sales appear pathetic for the the 5 and 7 series for what is otherwise a very low OMV due to the weakening Euro. Based on their OMV, a similar selling car would be a Honda Accord which is about 130k+. HUGE Markup. Do the maths and its an astronomical rip off. Wonder when they will ever learn to get their act together. Well its always nice to be the first to get the new models but once its common, those who got the cars at low OMV will have a VERY VERY hard time selling if they have to.

Yes you are right. To add, from an economy point of view, it's always good to have PML making huge mark up from low OMV and willing buyers purchasing. This will keep the 2nd hand Beemer market buoyant and vibrant.

 

[etan1]

Re: F10 omv

Most of the car distributors in Singapore make more $$$ than the automotive manufacturer themselves......Clever......

 

[pengful]

Re: F10 omv

Most of the car distributors in Singapore make more $$$ than the automotive manufacturer themselves......Clever......

But nothing can beat the SIN govt with the COE.

 

[Merlin_sg]

Re: F10 omv

But nothing can beat the SIN govt with the COE.

yup. They are at the top of the food chain....

 

[0oAo0]

Re: F10 omv

W212 Avangarde now with 10k overtrade is $216K (same as F10), but at least it got min 54K in OMV. Seriously, what is PML thinking?

Yes you are right. To add, from an economy point of view, it's always good to have PML making huge mark up from low OMV and willing buyers purchasing. This will keep the 2nd hand Beemer market buoyant and vibrant.

 

[zorro]

Re: F10 omv

More profit....as long as there is demand its cash cow time...

W212 Avangarde now with 10k overtrade is $216K (same as F10), but at least it got min 54K in OMV. Seriously, what is PML thinking?

 

[JasonKuan]

Re: F10 omv

That's why I went the PI route, save $45,000 on my E-89

Loving the speedometer as it comes with miles per hour too vs. my E-90 which looks so simple.

The only option which is weird is it comes with heated seats, can "sabo" the passenger, heat their buttocks

 

[etan1]

Re: F10 omv

That's why I went the PI route, save $45,000 on my E-89

Loving the speedometer as it comes with miles per hour too vs. my E-90 which looks so simple.

The only option which is weird is it comes with heated seats, can "sabo" the passenger, heat their buttocks

Really "hot" date! .....(sorry for OT)

 

[cisconet1234]

Re: F10 omv

Hi Bros here,

I am new here. Showering keen interest in the F10 today and proceed to PML Bukit Timah to look look see and see. Discussed about the OMV to the SE, indeed, was told that due to weak Euro so that's why the OMV is low. He says the next batch should be higher. Dunno how true..

 

[Slater]

Re: F10 omv

Hi Bros here,

I am new here. Showering keen interest in the F10 today and proceed to PML Bukit Timah to look look see and see. Discussed about the OMV to the SE, indeed, was told that due to weak Euro so that's why the OMV is low. He says the next batch should be higher. Dunno how true..

ask him for written agreement.......else refund

 

[TheNew7]

Re: F10 omv

Hi Bros here,

I am new here. Showering keen interest in the F10 today and proceed to PML Bukit Timah to look look see and see. Discussed about the OMV to the SE, indeed, was told that due to weak Euro so that's why the OMV is low. He says the next batch should be higher. Dunno how true..

Higher by how much? Euro hasn't appreciated that much to warrant a OMV of $60k or so for a car that's going to cost you $230k. The highline is about $43.5k or thereabouts. Even if the Euro were to go up by 10%, that would bring the OMV to $47.9k. You think its worth it? Its a nice car no doubt.