opinions?

[quickshot]

Used BMW M3 Car for Sale in Singapore, Executive Automobile - sgCarMart

about to pull trigger already, dealer said loan based on aug 2010, any opinions on the car?

 

[Oilman]

Re: opinions?

2007... you know how used-imports work, ya? Don't be distracted by the 10-year COE :fineprin:

 

[quickshot]

Re: opinions?

2007... you know how used-imports work, ya? Don't be distracted by the 10-year COE :fineprin:

sorry bro, care to explain abit?

the dealer like trying to sell koyok to me leh.

 

[Oilman]

Re: opinions?

Well based on what I know... and yes I could be completely off the mark here... the original registration date of September 2007 tells me the car has effectively only 5 years to go. The local registration date of August 2010 is only for the purpose of your COE (and loan).

See if the dealer can explain to you what happens come September 2017. Even though there would be three years left on the COE, will the car have to be scrapped/exported? Even if you don't intend to keep the car for long, the next buyer will be asking you the same.

the dealer like trying to sell koyok to me leh.

As a general rule, if you don't feel completely comfortable about a transaction... even if it's just for a bowl of meepok ... it's best to take a time out.

 

[Tanzy]

Re: opinions?

If you are taking loan, your max tenure is up to 2017 i.e. 10 years from original reg date. You can use this car until 2020 i.e. 10 years from Singapore LTA registration date.

 

[Oilman]

Re: opinions?

You can use this car until 2020 i.e. 10 years from Singapore LTA registration date.

Oh ok maybe I got it bass ackwards... so it's the loan that gets shortened, not the usage.

But yeah that 2007/2017 date is not to be overlooked.

 

[C3P0]

Re: opinions?

Ya, there will be zero parf value after 10/9/2017.....

 

[quickshot]

Re: opinions?

Long story short, can I take a loan from aug 2010 or sept 2007

And is it safe to say, car can be used till 2017 and there will be 0 parf, so I gotta export in 2015?

 

[Mockngbrd]

Re: opinions?

Long story short, can I take a loan from aug 2010 or sept 2007

And is it safe to say, car can be used till 2017 and there will be 0 parf, so I gotta export in 2015?

export or no more parf value

 

[C3P0]

Re: opinions?

And is it safe to say, car can be used till 2017 and there will be 0 parf, so I gotta export in 2015?

Sorry I wasn't clear earlier. You will get back some parf value as long as you de-register the car before 10/9/2017.

Disclaimer: This doesn't mean that it is better to de-register. If I am not wrong, using it until 2020 is better from a depreciation point of view....
Other bros may be able to advise on this.

 

[vanilla707]

Re: opinions?

Sorry I wasn't clear earlier. You will get back some parf value as long as you de-register the car before 10/9/2017.

Disclaimer: This doesn't mean that it is better to de-register. If I am not wrong, using it until 2020 is better from a depreciation point of view....
Other bros may be able to advise on this.

I think you also get back pro-rated refund for the COE of $12,000 for the 3 unused years.

 

[Baby1M]

Re: opinions?

Long story short, can I take a loan from aug 2010 or sept 2007

And is it safe to say, car can be used till 2017 and there will be 0 parf, so I gotta export in 2015?

Hi Quickshot,

Since e vehicle is a used-import registered on 28-Aug-2010 (original 10-Sep-2007), let me explain as simple to you as possible.

So in short
1) Max loan allowed = Aug 2010 to Aug/Sep 2017 (this is max allowed bcoz car allowed on road with current COE ends on 9 Sep'17)

2) Car's last day on SG road with current COE = 9 Sep 2017 ('life span' on SG road remains 10 yrs from original registration)

3a) If car to scrap or export after 9 Sep 2017 = Besides the PARF rebate, LTA will rebate pro-rated balance of $43,501, which is

 

[masschaoz]

Re: opinions?

Hi Quickshot,

Since e vehicle is a used-import registered on 28-Aug-2010 (original 10-Sep-2007), let me explain as simple to you as possible.

So in short
1) Max loan allowed = Aug 2010 to Aug/Sep 2017 (this is max allowed bcoz car allowed on road with current COE ends on 9 Sep'17)

2) Car's last day on SG road with current COE = 9 Sep 2017 ('life span' on SG road remains 10 yrs from original registration)

3a) If car to scrap or export after 9 Sep 2017 = Besides the PARF rebate, LTA will rebate pro-rated balance of $43,501, which is

 

[Chagrin]

Re: opinions?

Car can be on the road till 2020.

IF you want the PARF rebate back, you will need to scrap the car in 2017.
Otherwise, you drive it till 2020, and you will not get anything back.

Unfortunately I don't know how long the car loan will stretch until (ie. 2020 or 2017)
My guess would be 2017 considering that's when the bank has a residual value on the car (pure speculation on my part)

 

[quickshot]

Re: opinions?

Oh man damn confused.

Even the dealer also said they will get back to me again on Monday before confirming.

Any experienced people know about this?

 

[Baby1M]

Re: opinions?

Car can be on the road till 2020.

IF you want the PARF rebate back, you will need to scrap the car in 2017.
Otherwise, you drive it till 2020, and you will not get anything back.

Unfortunately I don't know how long the car loan will stretch until (ie. 2020 or 2017)
My guess would be 2017 considering that's when the bank has a residual value on the car (pure speculation on my part)

sorry.. but it seems like its totally wrong here.. someone else pls verify?

used import.. sept 2007.. in singapore parf lifespan is 10 yrs.. so parf rebate becomes zero after 2017..

As its registered on aug 2010 with a 10 yr coe.. car can be on the road with this coe till 2020.

Did either of u verify this or from your best of knowledge, with regard to the car can be on road till 2020 because of the COE?

For used-imports, the car is permitted on the road from the Original Date of Registeration and not the COE's 10years 'life span'. I did many checks with couple of entities when I was considering getting a 'new' used imported or pre-owned used import sometime back.

Anyway I have an error in my original 'explaination post' which I've corrected i.e. point #3b, as there is no PARF rebate, if extension of another 5 or 10 years.

 

[Baby1M]

Re: opinions?

Oh man damn confused.

Even the dealer also said they will get back to me again on Monday before confirming.

Any experienced people know about this?

Well, I have posted what I know from my knowing when I was considering a used-import. Lets see when the dealer get back to you, is it on the same line as I have stated.

Cheers mate.

 

[masschaoz]

Re: opinions?

Did either of u verify this or from your best of knowledge, with regard to the car can be on road till 2020 because of the COE?

For used-imports, the car is permitted on the road from the Original Date of Registeration and not the COE's 10years 'life span'. I did many checks with couple of entities when I was considering getting a 'new' used imported or pre-owned used import sometime back.

Anyway I have an error in my original 'explaination post' which I've corrected i.e. point #3b, as there is no PARF rebate, if extension of another 5 or 10 years.

the portion about on the road till 2020.. i remember reading some material on it. original date of registration is based on registration in singapore. the used import date is the declared age of the car when it is brought in. Since date of registration in SIngapore is pegged to the COE, it ought to be on the road rightfully till 2020..

 

[Baby1M]

Re: opinions?

the portion about on the road till 2020.. i remember reading some material on it. original date of registration is based on registration in singapore. the used import date is the declared age of the car when it is brought in. Since date of registration in SIngapore is pegged to the COE, it ought to be on the road rightfully till 2020..

U need to verify with the proper authorities.

All used imports are permitted to be used upto 10 years (in this case, 7years on e road) regardless of COE because of eligibility of PARF. Any period past the 10th year will require a 5 or 10 year COE. That date of registration pegged with COE is applicable for new car registeration in SG, does not apply to used imports.

I stand by the info I post - till I m proven wrong.

 

[masschaoz]

Re: opinions?

I just verified with my friend who is a car dealer.. Experienced one.. Parf follows original reg date.. Last 3 yrs no parf for above example.. Car can be driven till 2020.. Loan is based on 2007. Hence only max 5 yrs loan