Nissan Car Lounge - Almera, Juke, Latio, Qashqai, Sylphy, Teana Owners > Latio
When is the best time to sell my Latio
gatier:
--- Quote from: moochi on March 25, 2010, 01:31:08 PM ---Just went on one motoring to check on my Parf/COE rebate. I will only get back $10,216.00!
I paid $54k for the car including bank interest. Wah... means i'll lugi almost $44k if i keep it till the end? :crycry:
--- End quote ---
Car are not an asset in singapore. It will depreciate every year (whether you paid in full or with loan) due to our COE system. You can only "own" the car for 10 years in singapore.
Taking the price you pay and deduct the parf value (end of 10 years) and divide by 10. That will be your depreciation per year.
44K for 10 year or $4.4k per year is quite low lah. My Latio is $4800 per year higher than yours I more :crycry:.
Current latio should be about $5600 per year. If you sell before 10 years, normally your depreciation will be higher.
Depreciation is useful when you want to buy a second hand car and you will know whether it is worth to get a new or 2nd hand
cheers
valeon:
--- Quote from: gatier on March 25, 2010, 02:58:48 PM ---You can only "own" the car for 10 years in singapore.
--- End quote ---
I never think I "own" the car. I prefer to say I "rent" from garment the car.
Midnight:
--- Quote from: gatier on March 25, 2010, 10:13:53 AM ---
Yes, it will drop. COE will drop yearly while ARF will drop about $900 per year (Taking Parf at $18,000) starting at the 5th year. compared to cars before 2002 which will drop $1800 per year. That's why everyone used to change car before the 5th year.
Also previously loan is only at max 7 years , which you will not need to top up at the 4th-5th year if you sell your car.
That's how the before 5th year thing came about.
Cheers
--- End quote ---
Thanks for the info man...so not necessary to rush for the 5th year mark to sell car liao hahaha
moochi:
--- Quote from: gatier on March 25, 2010, 02:58:48 PM ---Car are not an asset in singapore. It will depreciate every year (whether you paid in full or with loan) due to our COE system. You can only "own" the car for 10 years in singapore.
Taking the price you pay and deduct the parf value (end of 10 years) and divide by 10. That will be your depreciation per year.
44K for 10 year or $4.4k per year is quite low lah. My Latio is $4800 per year higher than yours I more :crycry:.
Current latio should be about $5600 per year. If you sell before 10 years, normally your depreciation will be higher.
Depreciation is useful when you want to buy a second hand car and you will know whether it is worth to get a new or 2nd hand
cheers
--- End quote ---
Thank you for explaining how it works :thumbsup: I think i'll keep driving it for now then. :yehyeh:
Demio:
--- Quote from: moochi on March 26, 2010, 12:27:43 PM ---Thank you for explaining how it works :thumbsup: I think i'll keep driving it for now then. :yehyeh:
--- End quote ---
If u really wanna change for watever reasons, maybe u can consider 2nd hand ride
i recently changed my mazda2 for a 2nd hand ride
Date of purchase : 18 Aug 2006
PRice of my old ride : S$ 52,588
Deposit : S$ 5588
INterest : 3.5% in Aug 06 (due to I lump my lst year free insurance of 1.6K into 7 years loan - if not, it be 2.85%)
Monthly installment : $697.00
Loaned 7 years
New Ride
Civic 1.8
Selling price to me : S$54,500
Owner Purchase price : S$ 79,000 plus plus
Date of car : 8 Aug 2007
Mileage : 34500 km
I loan : $54,000 spread over 7 years
Monthly Installment : S$ 748.00 plus plus
Int Rate : 2.28%
Overall, car in good condition, with detailed service records from KM.
Still got a bit of that new car smell.
If really wanna consider 2nd hand ride, maybe can try buying from direct owners...
It really depends on luck when it comes to purchasing 2nd hand ride, if the 2nd hand ride is not to your liking, move on to another selection...as there are quite alot of choices around...
this is my POV...pls dont flame me..
haha
thanks for viewing...
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