A good deal on this car?

[oliie]

Hi all

As some of you may have read, I'm moving to SG in a couple of weeks and have a few cars lined up for viewing.

The whole COE / PARF etc. calculations are hugely confusing to someone who has not been in the market for long I'm *hugely* thankful for anyone who can provide some help with this:

E9x -> PI car
Asking price: $175k
COE: $15.5k
OMV: $55k
Reg Date: Jan '08
Mileage: 10,000 k's

I'm really struggling to do the 'on paper' calculations for this car to get an understanding of this being a reasonable deal. The car is in excellent condition etc. and has had its first service - so no issues on the car side - just the numbers!!

Am *really* appreciative of any help....

Cheers
Oli

 

[kenntona]

Re: A good deal on this car?

E92 335 or E93 325 ?

 

[oliie]

Re: A good deal on this car?

E92 335 or E93 325 ?

Was hoping to keep it purely to the numbers but I guess some models to command a premium. It's a 335. Hopefully the OMV tells the story, but no M-seats and no iDrive.

Cheers
O.

 

[centurion]

Re: A good deal on this car?

rough calculation of the total cost of the car to the dealer - IF the dealer declare the price to government properly:

55K x 2.2 = 121K
Add COE - 15.5K
Total: S$136,500

And that's `brand new'.

Here's the structure:

Welcome to Land Transport Authority

If the PI underdeclared the cost to the government using fake invoice or purchase rebate from exporter methods, then the amount declared is untaxed, simply add the underdeclared value to S$136,500 and that's the cost of the car to the PI/dealer.

 

[kenntona]

Re: A good deal on this car?

First of all, specs wise, the PI 335 should mirrors the PML's highline model with the exception of (1) iDrive (2) Comfort Access (3) Rear Roller Blind and some cosmetic variations like window trims and sharkfin antenna. The sports seat is standard on the 335.

Second, the new car from PI should be around 210K. You can check with the PI directly. So, inevitably, the question should be - first owner take a $40K hit, fair to buyer? If yes, then it is a buy for you.

Cannot quite do the paper calculation because you cannot ascertain salvage value on this model yet.

 

[DarKy]

Re: A good deal on this car?

centurion, it's not counted this way.firstly the PI don't declare the real cost, then the tax works like OMV 55k, It's registeration tax 120%+ 20%import tax+ 7% GST + Shipping Cost + Inspection + Road Tax + COST...

 

[centurion]

Re: A good deal on this car?

darkly, OMV includes freight already. Registration fee is only S$140. And after March 2008 the Additional Registration Fee is only 100% of OMV. Therefore, the 2.2X approximation is correct. My calculation does not include GST, Inspection Fee and Road Tax and Insurance, yes. Include those will be S$136500 + S$9,555 = S$146,500, inspection, roadtax and insurance work out yourself, can't be more than 8K more. S$175K means about S$20K profit.

 

[DarKy]

Re: A good deal on this car?

but the 335 cost is not 55k for the car.... for my experience, the cost for the car itself should be $73k for the coupe, for the estate wise should be around 80k i think. so new car cost is about 180k, used car selling 175k is a bit ex...

 

[kenntona]

Re: A good deal on this car?

but the 335 cost is not 55k for the car.... for my experience, the cost for the car itself should be $73k for the coupe, for the estate wise should be around 80k i think. so new car cost is about 180k, used car selling 175k is a bit ex...

New car cost S$180K? Can you buy at cost S$180K?

 

[DarKy]

Re: A good deal on this car?

Can't, that's just my estimate calculation, at least it's not like centurion saying $140+K, =X

 

[centurion]

Re: A good deal on this car?

but the 335 cost is not 55k for the car.... for my experience, the cost for the car itself should be $73k for the coupe, for the estate wise should be around 80k i think. so new car cost is about 180k, used car selling 175k is a bit ex...

If what you say is true, it's all this underdeclaration shit going on again. The only way it'd end is to have the importers charged, and open the possibility for the end buyer to be charged for abetment - provided that the DPP can prove knowledge of the scheme.

 

[oliie]

Re: A good deal on this car?

Guys - thanks for all your comments and thoughts!!! Worth noting of course that this car is used... I don't know the original purchase price paid by the first person (in January). Maybe $200k?

All in all, it would appear then that the car is OK value for money. I'm just making sure I'm not getting myself in for a huge depreciation hit etc. and we intend to keep the car for at least 3 years.

I will of course post photos if we go ahead with it, but there are also quite a few other rivals in the market to consider: new A4 3.2 and new Passat R36 (very cheaply priced at $160k). These of course are new and from an agent which also helps...

I'm looking forward to that trip to Bangkok already!!!

O.