Look at the OMV of the vehicle and u can get a estimate of how
much u can get back from the scape value of yr car.
Eg
Car cost $63,000. with COE of 22.5K and OMV 12K, downpayment
13k
Loan of 50k with Interest for 10 year at 1.9%
Total Loan amount + Interest = $59,500
Mth Installment = $496
Let say u scrape car at end of 5 Years
COE rebate may $22,500 divide by 10 year Times 5 years =
$11,250.
Parf Rebate = OMV times 82.5% = $9,900
Therefore scarpe value of car will be $21,150 at year of 5
years
Installment Paid after 5 Year = 29,750
Oustanding is 59500 - 21150 - 29750 = Amt you have to pay or get
back when u sell yr car. Interest rebate and body of car is not
calculated in.
Used this rough guide to plan yr finance.
So if u wan to get back more money or break even fater, buy a car
with a high OMV, pay more downpayment or loan less no. of
years.
If there is anything wrong in this guide, please let me know.
Cheers!!!!!!!
