-
Oneshift Top Picks -
Top Picks - Compact Sedans Und... 4 CARS -
Top Picks Luxury SUVs from $17... 4 CARS -
Top Picks - Luxury Sedans from... 3 CARS -
Top Picks - Performance Sedans... 4 CARS -
Top Picks Compact Luxury Coupe... 3 CARS -
Top Picks - Compact SUVs from ... 7 CARS -
Top Picks - Cabriolets below $... 3 CARS -
Top Picks Luxury SUVs from $30... 3 CARS -
EDITORS PICKS - VES Neutral/Re... 7 CARS -
EDITORS PICKS - VES Neutral/Re... 4 CARS - Start adding your shortlist ...
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
With SwiftQuote, you get:
Best value for your car A peace of mind when selling Fast sale from start to end
HIGHEST PRICE FOR YOUR CAR
Best offer with no obligations.
Start Now!
Friendly and really swift. Recommended dealer was also accommodating to my schedule. Overall A+ experience.
Ng Yong Mao - 2 days ago
Thanks to Swiftquote for recommending the dealer for buying my car at the highest price. They collected my car at my house and paid cash on the spot after they transferred the ownership.
Goh Teck Lee - 3 days ago
Engagement with dealer was smooth and process to scrap my car was explained in detail. Website is user friendly.
Ong Swee San - 4 days ago
Very fast respond and friendly. Got a good quote for my car as well.
NG Peng Yam - 6 days ago
This is a very nice platform. Easy to use and I sold my car at the highest quote. Thank you
Lai Yee Herng Matthew - 6 days ago
Trustworthy and Win- Win Quote.
Hakimuddin - 6 days ago
Thanks for your help in assisting in the process throughout, Swiftquote a great help in this whole procedure!
Zoe Yeoh - 6 days ago
Satisfied customer as Swiftquote provided me a relatively good quote for selling my old car and contacted me to follow up on my inquiry.
Ng Hock Lee - 6 days ago
Good service by swiftquote. Received quotation after 1 day and via sms. Another similar site will call you and if they cannot reach you, too bad. Obtained the highest quote compared to other car sites.
Yang Yahui - 1 week ago