Trade in car

MEN IIII SG

Model: Mazda 3

Age : 3yrs

COE : $16,800

Loan : $65,000 left

Trade In

Model: Hyundai Alvante

Cost : $37,500

If I trade in my car, how much more I have to fork out??

Thanks Brothers!

lianamaster SG

Let's say your Mazda3's trade-in value is $30,000 (rough estimate).

Then you need to fork out: $ (65000 - 30000 + 37500) = $72500

The figure is a rough estimate for simplicity's sake.

The price also excludes Parf and COE rebates that you are entitled to.

Correct me if I'm wrong...haha....

nightsky87 SG

Let's say your Mazda3's trade-in value is $30,000 (rough estimate).

Then you need to fork out: $ (65000 - 30000 + 37500) = $72500

The figure is a rough estimate for simplicity's sake.

The price also excludes Parf and COE rebates that you are entitled to.

Correct me if I'm wrong...haha....

Your rough trade in estimate of 30k odd is correct. For in depth details, can ask sinicker. I'm surprised that TS still has a loan of 65k left even after 3 years; did he take up a high percentage and long term >7 years loan?

The 30k for the Mazda will include the remaining Parf/COE/Body value. So if TS wants to buy an Avante, it is correct that in addition to forking out money for the new Avante, he also has to cover the remaining loan quantum left for his Mazda. Lianamaster is correct in his calculation.

lianamaster SG

Like that hor, TS would save more if he sticks to his Mazda3..... $65k worth of loan is a lot... I think he takes a full loan and drives a Mazda3 2.0 version.

The car so expensive that he still has $65k remainder of loan after 3 years...

ALN SG

ya loh… must have paid a bomb 3 years ago… and now only worth 30K?.... wau siong sia…..

lianamaster SG

The range is about $30k to $45k depending on the number of years used. I used that figure for simple calculations.

But anyway, big cars depreciate a lot more than its smaller siblings, so that comes as no surprise... haha....

扎fit 人 SG

Buy car in singapore, you defenitely lose money. We are already paying a huge premium for cars. To TS, in view of the current global crisis, you are better off sticking to your old car.

monoslayer SG

Buy car in singapore, you defenitely lose money. We are already paying a huge premium for cars. To TS, in view of the current global crisis, you are better off sticking to your old car.

i concur.

any specific reason y u changing?

carbikebus SG

Buying cars in SG definately lose $ even for Off peak ones,Unlike in other countries where you can own them until you sian....Lucky i got the best of both world,Owning a car and bike in JB and 1 simple car in SG

lianamaster SG

Buying cars in SG definately lose $ even for Off peak ones,Unlike in other countries where you can own them until you sian....

That's true... it's the indulgence and experience on the car that is priceless.