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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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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 - 23 hours ago
The online experience is pretty fuss free. The friendly customer service personnel help to sort the process out.
Arthur Ong - 1 day ago
Used SwiftQuote to get a quote for my car before deregistering. SwiftQuote was very responsive and got me a quote within hours. Very good service!
Mr Kong - 3 days ago
Thanks for reaching out to me promptly, a super smooth transaction carried out by both the dealer and SwiftQuote Team. Fast deal!
Chew - 1 week ago
The service provided by SwiftQuote was excellent. Keep up the good work!
Antony Raj Sasayah - 1 week ago
Totally didnt expect such excellence service from SwiftQuote. For a first timer like me, I was guided by SwiftQuote from quotation till I let go of my car.
Yin Qiang - 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
To sum it up, Swiftquote is a modern platform aimed at efficiency, speed and reach to potential car dealers. I managed to receive an acceptable bid and completed the sales within 2 days. Satisfied!
Chia bing cheng - 1 week ago
Quick and easy to submit my vehicle details, I received a very good quote from the dealer.
Alexander Lau - 2 weeks 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 - 2 weeks ago
