Scrap/Body Value

eggz

eggz

Well-Known Member
How much you can get for the body depends on a lot of things especially if its for export eg.

- accident free?
- has the colour changed?
- mileage
- number of owners
- year of manufacture

How old is your 5? if it's less than 5 years, unlikely to be scrapped, but can be for export, you can get more for it.

For example, I exported my 4 year old 328ci recently for $28K


eggz
 
Oh...I see...the car just past 5 y/o this may....3rd owner but 2nd to 3rd is still the same driver...car has changed color but is accident free...mileage is pretty high perhaps...bout 110,000KM.

To dereg. it can take back bout $75K from OMV and COE...just wanna know how much is the body value if to be scrapped or exported...how to determine which is better to go for?
 
To scrap or exported...the rate will be the same. The dealer can tell you that its scrap...but important thing is how much are they going to give you on top of your 75K.

Do remember its a seasonal thingy on export prices....when there is a demand, they will offer you a higher price...but if low demand then the price will be low.

Ask around to get the best price since you know your base price is 75K already. (BTW...did you factor in the X% that dealer will deduct from your scrap value ?)

One place to start is the BMW shop at Ubi Megamart. Ground floor....right at the end. They selling 2nd hand Bimmers.
 
if i'm wrong i'm entitled to the money Back from omv and coe on top of that some more from the body too right?

i have not yet factored in the dealer's cut..probably around 10%?
 
You are right....you should be getting the following for your OMV.

On 5th year - 130% OMV
6th year - 120%
7th year - 110%
8th year - 100%
9th year - 90%
10 year - 80%

COE is prorated.

Usually the dealer will take around 4-6% (again depending on supply and demand) from the OMV and COE rebate.

Then add what they offer for your body. (varies as well....its the demand and supply equation)

I doubt any dealer will open mouth and ask for 10%....cut throat man...imagine 10% of 75K is 7.5K for a simple conversion !! (even bank interest also not that high !!)
 
yuppers...went online to check the paper value of the car already.

Actually it's my dad's car...he is looking to change to MB...issit possible to let the MB salesperson to handle everything including the scrapping of my dad's current car?Will they do that?

Actually the paper value of the car is about the loan amount left owing...so watever the body is worth my dad hopes it can take back abit and help with the d/p of the next car...but I have no idea how much the body is worth..not even a rough estimate!
 
My guess is that dealers will be offering round about $5 - 8k for the body. If you need the contact of an exporter, PM me. The exporter is also pretty good at getting better buying prices for your new car (merc?). Also, since you are getting a new car, you should be able to offset 100% of the paper value of the old car against the new car purchase. (Caveat is that the OMV of the new car must be high enough to 'absorb' the full paper value of the BM that you are taking off the road)
 
I believe the E39 can fetch higher than 5-8K rite ? My Civic EK series already got 4K !! Dun tell me market now so bad ?

SmOcKxY, if your dad getting a new car....ask around for a indication first....at least you know what is the market rate and then you will not be short changed by the dealer.

Make the dealer work for it...throw the car to him as a trade in....see what he can come up with the package.

I think BorisRS is rite about the 100% offset thingy...cos the refund is suppose to be handel by LTA so might be able to get the deal offset. But this is presuming that you have no outstanding loan. If you have, then dealer will have to convert to cash to pay out to both you and your finance company...which in case I doubt they will settle for 100% offset cos they will make nothing out of the deal.
 
Ghostrider,

Really not sure about the body value so Smokky needs to ring round and check. But best reference is the dealer that he is getting a new car from.

As for offset, again, loan complicates things and I am not sure how it works with a loan to offset but what I do know for sure is....

Let us say that the paper value of the car to be deregistered is $50k (only paper and leaving the body out of the equation for the moment).
Let say the new car's OMV is $40k and currently COE is $25k. Then the total offset you can use for the new car is 110% of OMV plus $10k of COE. In this example, you can offset up to $54k in total. So the dealer should have no objections to you using all $50k of paper for the new car.

Hope this helps.
:) :) :)
 
Eh...sidetrack a bit.

This open a can of worms rite ? Basket...gov tell us cannot convert their toilet paper (COE/PARF Ben) into cash but somehow these dealers when taking in sales of a car can convert the toilet paper into cash !!

Which means to say...from the onset, gov has no intention of refunding the PARF at all lah !!
 
:thinking: :thinking: :thinking:

Err....not likely that you can take cash back cos the selling prices of cars with e.g. $40k omvs are likely to be at least $120k or more and thus you still need to take a big fat loan or stump out more cash for the car.

Or am I just totally misunderstanding what you are getting at? :screwedu:
 
Ok...now let's look at it from this point of view.

1) You scraping off your car (10yrs or within 10yrs). You are entitled to the PARF benefit (rebate on your OMV be it 80% or 65% now)

You have no intention to own a car anymore.

- you degregister the car at LTA. LTA only gives you a piece of LTA's brand toilet paper. You have to find someone to convert it to cash for you.
- Dealer takes a cut of 6% for converting toilet paper to cash.
- You take lesser than what you are suppose to get...since the LTA brand of toilet paper is too expensive to wipe our arse with it.

So what will the dealer do with the toilet paper ? He will have to somehow convert it to cash or transfer the paper to some one else who has use for it right ?

Chances are he will sell it to someone who is buying a car. Say the toilet paper value is 20K. Some one buying a car plonks down a heavy DP of say 30K. So the agent selling the car will pocket 20K of the cash....use the toilet paper to offset the taxes payable to LTA.

So LTA happy cos money coming in but never go out.
Agent happy cos got hard currency to roll
Owner happy cos he managed to trade his useless toilet paper for cash.

In summary....LTA takes money initially. When time to "refund" they issue toilet papers instead to owner (who paid CASH when they paid LTA). Owner have to lose money to convert toilet paper into cash. Dealer pockets the 6% service charge and sells actually value to agent who sells car to new buyer.

So now am I correct to say that once money into LTA pocket the money never left them ? :screwedu: :screwedu:
 
Hi the most important thing that look at is the

Make/Model
Year of Manufacture
Mileage

I have exported my e39 523 2.5 1998 120K mileage for 19K last year June
E39 2.5/3.0 models will fetch significantly higher as they can be exported to more countries

For 520 there is a greater limit to where the car can be exported bc its very uncommon in most countries

Also most countries allow for import of cars less then 3 yrs age so the value for cars below 3 yrs should be higher

The best advice i can give you is dont call the dealers in papers has they will con you, advertise the car for sale and the dealers will quote a price for your body then you can gauge what they will offer you. Also dont forget to minus 5% on your parf.

cheers
 
What I learnt the last time I exported my E46 is that you should try to export your car through a "wholesaler" exporter.

The dealers in the papers are "runners" or middle-men who will buy your car at least a few thousand dollars less than what a "wholesaler" would pay you, so that they can then sell your car to the "wholesaler" for such few thousand dollars profit.

The same is true when you trade in your car with the sales people who service you when you book a new car. You think they are doing you a favour by taking your car in on a trade-in when you could have got more money if you had located a "wholesaler" by yourself directly. A lot of people who buy new cars at car showrooms can't be bothered with the hassle of finding a "wholesaler" and this is where the sales person makes some money off them.

This is my analysis of what happens.
 
Maybe it'll be a good idea if we can come up with a list of these "wholesalers" and put them up permanently for the benefit of anyone exporting their cars.
 
Diablo,

Going by what you say (and it makes perfect sense), it is actually very sensible to buy a larger engine'd 2-3 year old 3 or 5 series versus the bread and butter base models cos the export values in year 5 are better cos of overseas (e.g. NZ) demand for the larger capacity cars. Nice! :)
 
But larger capacity model are only a handful only.

Remember this is Singapore where we like our car big on the exterior and small on the capacity.

:naughty:
 
BorisRS said:
Diablo,

Going by what you say (and it makes perfect sense), it is actually very sensible to buy a larger engine'd 2-3 year old 3 or 5 series versus the bread and butter base models cos the export values in year 5 are better cos of overseas (e.g. NZ) demand for the larger capacity cars. Nice! :)
Click to expand...


Not sure if that applies for all cases. Take an e39 520i (2200cc) and e39 525i (2500cc). I heard the body for these 2 cars are quite close even though the difference in brand new car prices back then were like $30k.
 
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