Need Help- BMW 318IA Touring

[torrorosso]

Hi guys,

BMW 318IA Touring Details (Hokkien Motors Pte Ltd) - sgCarMart

Need help to find out if this car is worth buying.

Its 5 years old but very low in Mileage of about 30K.

Rather high OMV and COE.

Can anyone explain to me how the new OMV and COE rebate works and what will my depreciation be for the remainder of the 5 years.

Thanks in advance.

 

[foxfrc5]

Re: Need Help- BMW 318IA Touring

This car probably has 65% residual PARF at the end of ten years, judging by the registration date, i.e. PARF value just before 10th birthday = 65% of OMV.

However, its current remaining overall paper value isn't that easy to calculate offhand, since it depends on what type of COE it was registered with -- Cat B or Cat E, and the relative values of both of those COEs at the time of registration. The remaining COE value is easy enough to calculate since it is simply prorated from the original COE cost -- i.e. the remaining COE value should now be just under 50% of S$29k.

Your best bet is to get the dealer to print out the paper value at various dates as though the car was to be deregistered e.g. today, 19 Jan 2009, 20 Jan 2009, etc. etc. so that you can see how the paper value drops as time passes. At their asking price, straight line depre (assuming zero value for the body at year 10, which is unlikely) is under S$10k p.a. but you should see how this compares with the decreasing paper value.

BTW looks like mileage is 40k km, not 30km km -- still low by Singapore standards.

Suggest you take it for a test drive first -- the weight of the Touring shell will blunt performance.

 

[Mockngbrd]

Re: Need Help- BMW 318IA Touring

but it sure looks good...

*and potential to look even BETTER*

 

[ben1]

Re: Need Help- BMW 318IA Touring

Looks pretty good IMO.

Maybe be underdriven hence maybe need some decarbonising