Scrap/Export Tips for 10 years old BMW (E65/E66)

[Tommisu]

Just scrapped my 2nd BMW recently. It could be a hassle to search for the best export/scrap price in the market. I have a colleague who recently brought his E60 down to the scrap agent who offered him the highest value, but on the handover date, was short changed by almost half the value. He had no choice but to hand over as he was left with just a couple of days before the COE expiry. Just want to caution all owners out there on this ruse employed by unscrupulous dealers to "carrot head" you. If all scrap/export dealers are offering prices within a certain range, and yet certain dealers are able to offer way higher than anyone else, not saying cannot be true, but just be cautious.

I have used a certain exporter who has offered fair value for my May-05 E60 and Feb-06 E66 and can share the contact if anyone is interested in giving him a try. Only setback is you have to do the de-registering at LTA yourself (a 15 mins affair). PM me if anyone is interested to try out the agent I have utilised.

My E60 (mileage 152K) was exported last year for $3K, recently value has dropped to $800-$1.2K, I've heard. My E66 (mileage 178K) was scrapped 3 weeks ago at $2K, to be cut and exported for spare parts.

 

[manisan]

Sharing my experience. I just scrapped my E60 yesterday after buying a E66.

I called up quite a few exporters (search from sgcarmart.com.sg site) & gave full description of my car (high mileage of 244k km), price ranges from $200 to $1600. These offers are only valid for 1 week & since my car is still 1 mth away from expiry, I waited for a couple more weeks before trying it out again. The highest offer came from the highly recommended shop in sgcarmart, so I was very excited... After looking at the car, he professionally indicated that he cannot take in my car since the wear & tear is more than his expectation. Fair enough for me.

Next, I proceed to fill up all the online forms from Quotz.com.sg, motorist.sg/car_scrap, directcars.com.sg , carquotations.com.sg. These are middle man, who will help you look for the highest quote available, but they charge a nominal fee of $100 once transaction is completed. They will arrange with you back to show your car to the highest bid dealers. The highest quote I got was $1450 (just for the body value) at one shop in Turf City. After a simple inspection, they agreed on the price. Signed a simple agreement, & made appointment to handover the car in 2 days time. Collected my $1350 cash (after minus off the $100) after the handover. They asked me to go to LTA to deregister the car in 1 wk time so they have enough time to export it out.

All in all, pretty simple. No sweat.

 

[Tommisu]

Manisan,

What I derived from your case is, you need to hand over the car to the dealer 1 week before COE expiry, so that they have sufficient time to export the car and you, in turn, have sufficient time to deregister your car? Cos the deregistration has to be done no later than the last day of the COE validity.

For my case, I handed the car over 2 days before expiry, then on the actual last day, went down to LTA to perform the deregistration. As for the export documents, there is a 1 month grace period after COE expiry for the exporter to submit to LTA. The export docs for mine took about 2-3 weeks after deregistration to be reflected inside LTA database, following which I just proceed to encash online. Took about 3 weeks for the full amount to be credited back to my account.

 

[manisan]

I guess lesson learnt is not to wait till last minute before you sell your car as you are at the mercy of the dealer. Give yourself additional week just in case the deal did not work out .

I did the same: went to LTA to deregister my car & wait ~ 2 wks for export document to be submitted & reflected in onemotoring website. Once it's there, apply for the rebate to be credited back to my account. This takes another 1 wk.

 

[Ma320i]

Just scrapped my 2nd BMW recently. It could be a hassle to search for the best export/scrap price in the market. I have a colleague who recently brought his E60 down to the scrap agent who offered him the highest value, but on the handover date, was short changed by almost half the value. He had no choice but to hand over as he was left with just a couple of days before the COE expiry. Just want to caution all owners out there on this ruse employed by unscrupulous dealers to "carrot head" you. If all scrap/export dealers are offering prices within a certain range, and yet certain dealers are able to offer way higher than anyone else, not saying cannot be true, but just be cautious.

I have used a certain exporter who has offered fair value for my May-05 E60 and Feb-06 E66 and can share the contact if anyone is interested in giving him a try. Only setback is you have to do the de-registering at LTA yourself (a 15 mins affair). PM me if anyone is interested to try out the agent I have utilised.

My E60 (mileage 152K) was exported last year for $3K, recently value has dropped to $800-$1.2K, I've heard. My E66 (mileage 178K) was scrapped 3 weeks ago at $2K, to be cut and exported for spare parts.

Hi bro,

pls pm i have a 740li to scrap soon and a slk200 too..
thanks

 

[BMWGunner]

Thanks for the advice.