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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 just sold my car via SwiftQuote. and manage to sell it at the higher price compare with other car dealer. I would like to thank Justin for the great follow up and advice. Thank You Justin.
Tng Poh Chuan - 3 days ago
Quick, fuss free.. get better value than trade-in your car to the dealer. All you need is just 3 mins to submit your request and SwiftQuote will help you to get the highest bidder.
Widodo Suwita - 5 days ago
Dear SwiftQuote I received the best quote from you guys within 24 hours. Despite my hesitation the price after 10 days was the same. The follow up was professional and personalised. Congratulations,will not hesitate to recommend to friends Keep it up.
Vic HHTng - 6 days ago
Quick and easy to submit my vehicle details, I received a very good quote from the dealer.
Alexander Lau - 1 week ago
Justin has been very friendly and helpful. His great service in accommodating the transaction for both me and the dealer went smooth and fast for me.
Aaron Chew Khee Chye - 1 week ago
Selling my car by registering at SwiftQuote is very convenient and received a quote in short period with higher bidding price. It is a great service.
Hla Myo Aung - 1 week ago
I sold my car with relative ease through SwiftQuote at the best price. Justin was very prompt to come back to me with the best quote and there is no hassle. Great service and follow up. Overall experience was great. Well done and thumbs-up!
Lee Sin Guan - 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 - 2 weeks ago
Competitive price offered by dealer. Didn't knew that everything can go so smoothly without hiccups. All my things were sorted out within a week!
Evan Kok - 2 weeks ago
