Car Selling Guide

[rankief]

Thinking of letting go my 1 year proton savvy...

how do i really calculate my car valuation and the total that im gonna lose?

 

thinking of upgrading to the new vios.

is it really best to trade in for a new car @ dealer or sell it @ one shop and buy the new car at BM itself?

 

Please advise ..

[jia_yvon]

see which side offer u a better price then u sell to who lor.. if bm offer u 30k n PI can offer u 32k, then u as well sell to pi then get the new vios from bm. correct ? but usually bm offer u de price is quite reasonable.. earn is confirm earn u de, juz see earn u less or earn u more, simple..~

[jia_yvon]

by the way, u wan noe u lose how much, simple..

 

dealer sell ur car, at least 15% - 20% away from new car price list for proton, hyundai n all other non japanese car,

 

For jap car like honda, toyota 1 yr is around 10% - 15% different away from new car price.

 

so u think they wan earn how much from ur vehicle n how much they can take in ur car?

 

simple calculation. lets say now new savvy is 40k. 1 yr car, they can sell is around 30k - 32k depend on ur car condition. so lets say they sell at 30k, how much u think they can take in ur car? around 28k +/- there.. juz a simple example. of course hope u can sell ur car at higher price la.. but quite hard..

[rankief]

wow

this means im gonna lose alot of $ =(

[jia_yvon]

yes bro. within the 10 yrs, the faster u decide to sold ur vehicle after ur purchase, the more u lose. if lets say 2day u buy, 6 months later u wan sell, of course lose out a lot la.. simple logic. UNless, when u buy the car is 30k , then now coe rise to new car price 50k, u may have chance to not lose so much.. or maybe earn abit.. but rarely..

[Throttle]

wow

this means im gonna lose alot of $ =(

 

Not much lah, I estimate about 25% of your buying price.

[jia_yvon]

Not much lah, I estimate about 25% of your buying price.

 

LOL. to you of course not much coz u RICH MA

[rankief]

lol i poor fella leh.. =(

that time i bought my coe only 10k

now abt 16k

so meaning i will lose maximum 6k lesser?

 

and say if interest i committed over 10 years loan is 7k,

i wanna do full payment after 5 years, still i need to pay for the full 7k interest committed right?

[Throttle]

Wah dude, seems like you dont know very much about cost of car ownership and you just plunge in and bought a car.

 

If you sell your car to second hand dealer after 1 yr, no matter what you will lose at least 25% if you sell privately, maybe 20% loss.

 

There is a special rule. you dont have to pay full 7k interest as there is a slight penalty only. so after 5yrs on top of $3500 in interest, you may have to pay additional few hundred to break the loan .

[Throttle]

dealer sell ur car, at least 15% - 20% away from new car price list for proton, hyundai n all other non japanese car,

 

For jap car like honda, toyota 1 yr is around 10% - 15% different away from new car price.

 

so u think they wan earn how much from ur vehicle n how much they can take in ur car?

 

simple calculation. lets say now new savvy is 40k. 1 yr car, they can sell is around 30k - 32k depend on ur car condition. so lets say they sell at 30k, how much u think they can take in ur car? around 28k +/- there.. juz a simple example. of course hope u can sell ur car at higher price la.. but quite hard..

 

 

Dude, base on your realistic example calculation above ===> 28k/40k is 30% off new car price which is correct (at least -25% as i mentioned) definitely not 15% to 20%.

[Throttle]

LOL. to you of course not much coz u RICH MA

 

I say not much becos for my fully paid 2004 Volvo, i lost $55k in 2yr10mths.

Would have lost $60k if sold to dealer.

$55-60k can buy a good jap car in full cash already.

[rankief]

im getting confused. :S

say my car cost $40k when i bought and total up with interest 50K over 10 years. im paying $440 monthly and say i wanna sell after a year.

 

how much do i lose?

[jia_yvon]

Mr Throttle will guide u through~ lol..

[Demon]

im getting confused. :S

say my car cost $40k when i bought and total up with interest 50K over 10 years. im paying $440 monthly and say i wanna sell after a year.

 

how much do i lose?

 

Let's do it step by step.

 

From the figures given, the interest rate is 2.5% p.a.

 

The total loan is $50,000, comprised of

Principal : $40,000; and Interest : $10,000.

 

The outstanding amount from the loan after one year computed linearly is $44720, , the balances are

Principal : $35,776; and Interest : $8,944.

 

To settle the loan with immediate effect, you have to pay more than $35,776, and it is subject to the terms and conditions in your agreement. Banks like to keep you as a customer for a long time to earn interest, and they expect a minimum period otherwise there will be a penalty for early settlement. Give a call to check on the outstanding amount for immediate settlement.

 

Next get a quote for your car, the difference will be your loss. Some distributors do not take trade-in if it's not a popular brands. And that increases your problem of changing car as it would mean that you would need to settle your loan first. Used car dealers can help, but they will charge a ripping 3% interest on the amount, so for your case it will cost you about $1,100, for a loan lasting not more than 1 week.

[jia_yvon]

zzz.. interest rate gt 2.5% one meh...

[Throttle]

Mr Throttle will guide u through~ lol..

 

 

 

sorry would like to but really got no time to go through the numbers so diligently ...paiseh.

[Throttle]

im getting confused. :S

say my car cost $40k when i bought and total up with interest 50K over 10 years. im paying $440 monthly and say i wanna sell after a year.

 

how much do i lose?

 

 

I would estimate your loss to be somewhere around $12k-$15k (25-30%)

 

Use Demon's guide to get breakdown and step by step method for a closer estimate.

 

bo pian lah dude, losses are worst within the first few years.

thats the price of itchy backside, i know becos i also itchy backside.

Change 6 cars in 9 years.......

 

but feeling is shiok to change heheh

[jia_yvon]

yeah.. the faster u sell ur car.. the more u lose. no choice.. 1st owner always lose out the most..

[jia_yvon]

sorry would like to but really got no time to go through the numbers so diligently ...paiseh.

 

i understand.. coz i also lazy to type all out. LOL:angel: