Calculating car value (please help)

tyljos SG

Helo,
anyone knows how to calculate car value.
Currently owes bank for 49,000 (including interest)
Bank interest rate is 1.8%
COE 21000
Parf 12868
If 2 years later, when the car is 5 years old and
If I intend to scrap 2 years later, how much must i top up?

Is it worthwhile to trade in my car Vios to a new car Vios?

Thanks...

huoye SG

more details needed

for eg: ur paper value
ur loan outstanding
car registered
blah blah blah

sunnyMAN SG

1) you must calculate total interest you owe bank
2) in order not to incur a loss, you must AT LEAST pay off all interest before u sell
3) calculate COE + PARF remaining ( thats the value of the car )
4) take this value - outstanding loan still oweing bank

if +ve value means bank will give you the balance
if -ve value you must top up

5) if +ve value means its not even neccessary to pay a downpayment and you MIGHT even enjoy a lesser loan for the new car since car pricing is dropping

6) if you talking abt 2 yrs later..you need to know whats the COE + PARF remaining..or you can estimate from depreciation...den follow the same calculation as above

wbucket SG

S$49000 after 3 years of ownership. Meaning a total of S$70k loan. Looks like a near S$65k Vios with about S$10k downpayment. Then COE should be about S$25k. So most likely the parf value is around S$20k. Looks like you have to top up about S$15k to repay your loan after scrapping the car.

Whether is it worthwhile or not depends on individual. For me, I have no plans to scrap my car after just 5 years of usage, even though my loan period is 5 years.