How to calculate depreciation??

enginboi SG

anyone can help me with the calculation of roughly how much depreciation is my car?? not very familiar with the terms….my car is hyundai matrix, 1.6, bought at $63888, ten years loan, monthly $699. bought last febuary….how much do we have to fork out if we want to change car now??? how much to pay?? want to change cos the petrol consumption really bad, around 10km/litre…thinking of changing to toyota altis…..heard it had about 13km/litre….any comments or recommendation?? anyway any recommendation on what is the best way to reduce loss?? trade in to car agent? or sell to 2nd hand dealer?? or wat?? hope u all can help…i know will definitely lose money….but i want to know by how much…thanks

tick SG

best way to reduce loss........

Don't even contemplate to sell your car Sad Sad Sad

You took a 10 yr loan leh.......now hyundai Matrix is dirt cheap...who wants to buy a 2nd hand?

wbucket SG

According to parf value, your car is only about 35k now. According to the second-hand industry, it is about 50k. If you trade in your car, most likely the value will be closer to the Parf value. So better try you luck with the secondhand side.

As for new car, I would suggest Jazz. Since you want altis, you should be able to afford Jazz too. And if you drive properly, Jazz's FC can be kept at around 18-20km/L. Or if you want to try parallel imported car, there are a few Toyota Hatch that have quite a good ratings for FC. But most are at 1.3L range, but the engine power shouldn't lose out to Matrix.

enginboi SG

thanks alot for your recommendations.....50 k ah...hmm....but how to i calculate how much i have to fork out?? not just simply the price i buy minus away 50k right?? not must take the full amount with ten year interest then minus off 50k?? not very clear with this part

enginboi SG

jazz has such good petrol consumption ah?? i m surprised...but i think hatch back the boot space quite small leh....put abit of things full already....hmmm...

wbucket SG

For Jazz, you can fold the back seats for a unbeatable boot space. Easily 2 mountain bikes without the need to take out the front wheel. Anyway, you are driving a hatch now, so it should be about the same. Or if you don't mind, you can try City, the boots space is definitely the biggest of all the cars I see so far, unless you are talking about lorry. Bottom line for me is, if you have the budget, go for Honda, Honda's engine have had the best ratings in term of fuel comsumption.

As for the interest thing, you might want to check with your loan agent or the SE who sell you matrix. They can give the the extra information. Now there are some matrix on sale at the sgcarmart web site, might want to take a look to monitor the reponse of buyers there. Like how long it takes to sell off 1 matrix.

From feedback here and there, you will be having a really hard time selling off your matrix, too much hard comments about it.

heluim SG

i knew hyundai cant make it.. haha.. i tink all koreans product aint tt gd.. Sad
their main selling point is the price..

Ah Wei SG

Hi enginboi,

I did not do a full calculation as I did not have all the figure you got. But then, judging from your amount paid, you down pay very little only, and what's worst, your loan is too high and too long.

You might end up paying the finance company if you sell your car now, and i believe the amount to be easily more than 10k.

My advise is to hold the car still.

wbucket SG

Actually Getz have recieved quite a good review. I would have consider it if it comes in 4dr manual. Since most people already know that Matrix isn't worth it, Hyundai's 2004 remarkable sales value should be Getz's doing. Hyundai is actually second to Toyota in term of sale for last year.

wbucket SG

~~Double post~~

enginboi SG

ya i think it will be more than 10 k too....but the petrol consumption really sucks big time man.....drink petrol like water like that....and the pick up power is really very weak even thou it is a 1.6..so dissappointing....i understand that have to pay la....but even if i hang on to the car and a few years down the road i want to change...i stil have to pay right?? unless i drive all the way for ten years la...is it possible to break even or lose less than 5 k down the years??

enginboi SG

ya lo...saw alot of gets nowadays....matrix also quite alot leh...cos very cheap and big....but dunno the getz petrol consumption as bad as matrix...quite a nice car la i guess...but abit small...

houndy SG

if your loan is ten years.. your break even period should be around the 5th year.. considering that you took out a full loan..maybe if you want to improve your matrix.. can ask your fellow matrixians how they improve it... Very Happy

Yishun dam friday nights... all the getz and matrix, jets and all the nice cars over there...

houndy SG

alot of honda salesman here too Laughing

Ah Wei SG

Hi enginboi,

Frankly speaking, i doubt you can break even at 5 yrs.......... might be able to 'lose' less, but definitely not break even. Unless, the price of 1st hand car goes up by a lot. But then...... even if you want buy a brand new car, you'll need more money.

I will say, hold on at least 7-8 yrs. Not to scare you, but my 10k is a minimum sum. Believe me, you might lose 20k now if you do a thorough calculation.

So, think twice.

cplee888 SG

hi,
Just very concern about your decision, easily u could lose 25k.
Your present car... 1) drink heavily 2) no power
Cannot compare this way, u must justify your habit of driving, car always idling, type of petrol used....
no power... compare with Altis? my guess.
Recommend to put fuel catalyst like magnet or bouquet. Can help about 5~8%, and increase horse power. Try 1 at a time, magnet is cheaper. Let me know if trying. I drove a 4.5yr Auto Megane, consumption about 8L/100km using 98 octane petrol. Hope it work for your car.

kl811 SG

Hi, new to this forum. Regarding the Matrix, this is my opinion.

Based on my assumption, if loan at $65k @ 2.45% for 10yrs, the P+I = $80,925. If assuming u settled after 2 yr, the settlement amt is abt $54,511(est). Current MV for matrix assuming yr Jan 03 maybe around $40k, tat means u have to topped up $14511 to bank in order to settle the outstanding. Even if stay for 5 yr then settled will also not break even. Just my view. Smile

enginboi SG

thanks for the advise...so how much does adding fuel catalyst roughly cost?? where can i get it done?......i know driving habits does affect....but even the service guy at komoko also frankly tell me that matrix is about 10 km/ per litre...about there one la.....if heavy footer perhaps can get only 8 or 9...worse...sigh...really regret buying this car...but first time buying new car so dun know wat to look out for....now i know....petrol consumption definitely must ask.....and recently i just discovered during a tyre burst that the spare tyre that they give me is not the same as the actual 4 wheels...it smaller and thinner kind, looks like just enough to last you to change tyre, and stil have a yellow tag that says dun drive more than 80km/hr with it...wat the heck...feel like so cheated...i tot spare tyre should be the same as the main wheel...at least that is the case for my previous car

wbucket SG

Now we know why there are so many bad rumors about Hyundai. Guess this serve as a lesson that cheap isn't everything. And don't rush into buying of cars, that is what this forum is for.

Do your homework before buying!!!

cplee888 SG

I fitted EPS magnet, getting about 4-5% saving, i fix it during motorshow at 89.90. try this no 93980848. on the tyre, I presume almost every singapore register car would have this problem as the tyre is factory fitted. when u bought your new car it has gone thru the cosmetic, change to sport rim and wider tyre. my advice is the next time u encounter tyre puncture, almost maintain the front tyre of the same size, if need to go long distance. It is safer.
Good6