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Part 4 - Determining the estimated value of a pre-owned car
19 Apr 2010
Thinking of buying a used car? Our comprehensive guide on how to do so will definitely be of help.
Value added
It does not matter whether you are selling your current car or buying a pre-owned. Knowing how to calculate the estimated value of the car is paramount in making sure that you get the best value for your money. The overall value of a car is made up of the "Paper Value" and the "Body Value". Let us start with understanding what constitutes the "Paper Value".
PAPER VALUE
The term "Paper Value" is the most commonly used term in the pre-owned market. It is the money you get back from the government when you de-register your car, thus making it the only money you will get back in the case of a total loss to the car (i.e. major accident).
There are two components that will make up a car's Paper Value. They are the "PARF" benefit and the "COE rebate".
PARF Benefit
PARF Benefit is a rebate given when you de-register your car before it's tenth year of age. A car older than 10 years old will not be eligible for this rebate.
Due to policy changes over the years, the table below shows the different PARF benefits cars registered can get before May 2002 and after May 2002.
PARF Benefit
Age at De-registration
(Year) PARF Rebate (A)
(For cars registered with COEs obtained from May 2002 tender onwards)
Not exceeding 5 130% of OMV 75% of ARF paid
Above 5 but not exceeding 6 120% of OMV 70% of ARF paid
Above 6 but not exceeding 7 110% of OMV 65% of ARF paid
Above 7 but not exceeding 8 100% of OMV 60% of ARF paid
Above 8 but not exceeding 9 90% of OMV 55% of ARF paid
Above 9 but not exceeding 10 80% of OMV 50% of ARF paid
Above 10 Nil
The Additional Registration Fee or ARF to be paid for varies over the years as well.
Additional Registration Fee
Period when COE is obtained ARF to be paid
Before May 2002 140% of OMV
May 2002 - February 2004 130% of OMV
March 2004 - February 2008 110% of OMV
March 2008 onwards 100% of OMV
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I have sold my car thru SwiftQuote and the respond is quick,The person that was in charge got a quotation to me within 24 hrs.So l would recommend my friends to check with them!
Chew Kim Soon - 13 hours ago
Service rendered was fast and smooth, my enquiries was being answered patiently by Justin. Please keep up the good work! I'm impressed!
Pohbin Sim Boon Heng - 1 day ago
Great platform to sell your vehicle. Got my quote within one day. And the price was quite competitive and managed to sell the car on the day of viewing itself
Marvin Cher - 4 days ago
My dealing with the successful bidder was professionally conducted. Dealer was pleasant and conducted himself well and promptly in all our dealings. I am very pleased with the whole transaction and the outcome. Thank you and warm regards, Boon
Tan Boon Hua - 6 days ago
Very fast respond and friendly. Got a good quote for my car as well.
NG Peng Yam - 1 week ago
Follow up is good and the buyer is genuine. Great offer too!
Yong Shao Horng - 1 week ago
Trustworthy and Win- Win Quote.
Hakimuddin - 1 week ago
SwiftQuote was professional and accommodating. Their car dealers are also friendly and very efficient. I would definitely use SwiftQuote again.
Kelly Chou - 1 week ago
Transaction was fast. They buyer actually offered higher than what was quoted after viewing the car is good condition.
Johnny Hui - 1 week ago