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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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Thank you for your service! You have been helpful, reliable and efficient; definitely highly recommended to those who want to sell their car. Best Regards Shirley
Shirley - 5 hours ago
Hit my target price, saved my hassle of going down to dealers to quote, everything was very smooth, transaction got done real quick. Thumbs up for the job done!
WANG YEE CHONG - 1 day ago
It's an easy and well guided process where the meeting, paperwork and transaction is handled well by the friendly dealer and the Swiftquote team.
LI HUABO - 2 days ago
Very happy with the prompt and hassle free service by Swiftquote! Most importantly my car was sold at a satisfactory price:) Everything was settled and car was handed over within a few days, amazing!!
BOO SEOW FANG - 3 days ago
Dealer was very patient and went thru step by step on how to transfer the car. Fuss free and pleasant transaction!
Serena Koh - 1 week ago
Quick and easy to submit my vehicle details, I received a very good quote from the dealer.
Alexander Lau - 1 week ago
Excellent service provided by Justin. I'm served by an honest dealer. Will definitely recommend SwiftQuote to my friends!
Dragon Gail Anne - 1 week ago
Fast response received from dealer. Was scheduled with an experienced scrap dealer. All arrangement was finalised with no hiccups.
Daphne - 1 week ago
SwiftQuote is very prompt in their reply with quotes and they deliver as promise. Hassle free transaction with the dealer. Friendly staff and dealer.....👍👍👍👍
Juhaidy Bin Mohamed Arif - 1 week ago