Question about the detailed break down info. of the On Road Price of a new Class2 bike

[magicj]

Hi,

I'm searching an used Class2 bike to replace existing 20-yr old bike.  The price of a 10-yr old Class2 bike surprised me a little bit, as it's comparable with the basic cost of new bike at the registration time, sounded like little depreciation.

Based on the statistics info. published by LTA,  the basic cost = OMV + GST  & Excise Duty + Tiered ARF  +  Reg. Fee  +  COE.

Saying the On Road Price of New Bike =  Basic Cost + Dealer's commission + GST (?) + all other overhead expenses (IU, number plates, etc. )

It would be appreciated if anyone could share the detailed break down info. of the on road price of a new Class2 bike.  

   1.  How much the dealer's commission would be usually,  such as 20% of entire Basic Cost or 20% OMV  ?

   2. If GST was applicable, how it would be calculated  ?

   3. How much all other overhead expenses would be ?

As the life would be easier for me to make the decision that go new bike or used,  if the Basic Cost could be accounted about 80% of On Road Price of New Bike.

Thanks for your time

[adesmond2]

14 hours ago, magicj said:

Hi,

I'm searching an used Class2 bike to replace existing 20-yr old bike.  The price of a 10-yr old Class2 bike surprised me a little bit, as it's comparable with the basic cost of new bike at the registration time, sounded like little depreciation.

Based on the statistics info. published by LTA,  the basic cost = OMV + GST  & Excise Duty + Tiered ARF  +  Reg. Fee  +  COE.

Saying the On Road Price of New Bike =  Basic Cost + Dealer's commission + GST (?) + all other overhead expenses (IU, number plates, etc. )

It would be appreciated if anyone could share the detailed break down info. of the on road price of a new Class2 bike.  

   1.  How much the dealer's commission would be usually,  such as 20% of entire Basic Cost or 20% OMV  ?

   2. If GST was applicable, how it would be calculated  ?

   3. How much all other overhead expenses would be ?

As the life would be easier for me to make the decision that go new bike or used,  if the Basic Cost could be accounted about 80% of On Road Price of New Bike.

Thanks for your time

Dun need to go so deep dive.. 10 year old bike mostly is overly priced.. you have to factor in your road tax which will increased yearly 10% to max 50% additional.. which means..

11th year 110% of the original road tax

12th year 120% of the original road tax

13th year 130% of the original road tax

14th year 140% of the original road tax

15th year 150% of the original road tax

16th year 150% of the original road tax

based on boss of a motorcycle workshop.. he mentioned, buy those bikes that's left 1 year and renew coe.. that's the most worth it pricing.. especially those left with 6 months or less.. they will drop the pricing to a very affordable pricing.. else they will either pay a lump sum of money to renew coe or scrap ($0).

*this is what I'll do after my current bike's coe ends..  

[magicj]

9 hours ago, adesmond2 said:

Dun need to go so deep dive.. 10 year old bike mostly is overly priced.. you have to factor in your road tax which will increased yearly 10% to max 50% additional.. which means..

11th year 110% of the original road tax

12th year 120% of the original road tax

13th year 130% of the original road tax

14th year 140% of the original road tax

15th year 150% of the original road tax

16th year 150% of the original road tax

based on boss of a motorcycle workshop.. he mentioned, buy those bikes that's left 1 year and renew coe.. that's the most worth it pricing.. especially those left with 6 months or less.. they will drop the pricing to a very affordable pricing.. else they will either pay a lump sum of money to renew coe or scrap ($0).

*this is what I'll do after my current bike's coe ends..  

 

Thanks for the inputs.

Road Tax part may not be a big concern,  as compared with the 5th - 10th year,  the 11th - 15th year just needs to pay more S$498.0 in total for class2 bike if I din't make mistake.

Saying a 2015 class2 bike,  the basic cost was about 25K,  now it's still selling for 25K,  with new 10 years COE, the total cost will be 35K. 

I'm always frustrated with the used bike price and trying to understand how it's priced.

What I'm struggling is if the 25K is reasonable due to the untransparent part of Dealer's commission and etc.   Becase based on common sense of overseas used bike market, the scrap value would be around 45%~50% of OMV for a 10-yr bike,  in my opinion,  the price would be ~15K.  Most likely impossible to negotiate it with seller.

 

Edited September 8, 2023 by magicj

[adesmond2]

On 9/8/2023 at 3:23 PM, magicj said:

 

Thanks for the inputs.

Road Tax part may not be a big concern,  as compared with the 5th - 10th year,  the 11th - 15th year just needs to pay more S$498.0 in total for class2 bike if I din't make mistake.

Saying a 2015 class2 bike,  the basic cost was about 25K,  now it's still selling for 25K,  with new 10 years COE, the total cost will be 35K. 

I'm always frustrated with the used bike price and trying to understand how it's priced.

What I'm struggling is if the 25K is reasonable due to the untransparent part of Dealer's commission and etc.   Becase based on common sense of overseas used bike market, the scrap value would be around 45%~50% of OMV for a 10-yr bike,  in my opinion,  the price would be ~15K.  Most likely impossible to negotiate it with seller.

 

agreed with your concept.. at least you mentioned 10 year old bike still have 50% of the original costing (example 20k for bike excluding COE 10k)

after 10 years still have 10k for the bike and 10k for the coe (or whatever remaining from the COE), correct?

 

my workshop straight away tell me this.. for bike that renew COE

2B $0 value because not much metal "left" behind

2A - maybe still have $100-$200

CL2 maybe around $500 value