[quote]Originally posted by PoRen:
[b]
I see. So the maximum that one can use voucher to buy new car is
40K I supposed?
The parf paper (voucher) can only be
used to offset ARF (additional reg fee) and COE, so the amount you
can use depends on the omv of the new car and the COE. Mine is abt
40+k cos my omv is abt 25k and coe 15k. (note: current ARF is 110%
of OMV)
If I don't buy a NEW car, I will have to sell the 50K voucher at 3%
discount right? I always thought the market charges 6%.
WRONG. Mine is 3% cos I bought a new car
from the dealer, and they took in the balance of my parf at 3%
discount. If you only sell the parf paper, the discount varies from
3 to 7%
If my loan is 40k, and the voucher is 50k, dealer will charge 3% of
50k OR 10k (50k voucher minus 40k loan)?
I m confused by yr question. Maybe i
give an example ;
Car price 90k
your parf paper 50k
suppose your car only can use 40k parf, then dealer will take 3%
off (50-40)k = $300.
So efectively your 50k parf paper is only worth 49,700.
Therefore, you still need to pay the dealer 90k-50k+300 =
40300.
You can either pay cash or take loan or a combination.
The 3% discount on parf paper has nothing to do with your
loan.
If you want cash back, you can take a higher loan (i.e.50k) and the
bank will give you 9.7K (50k-40300) cash.
