If you conduct your research very well, you will find that Singapore is one of the countries that are very expensive to purchase or rent a car. Since the COE prices are so high in Singapore may people decide to purchase old cars as they wait the COE prices to fall. Some try to look for rental companies such as BizLink Rent-A-Car Pte Ltd that offer cheap car rental services so that they car get a car as they plan on how to buy a brand new. Below are some guidelines that you have to follow when you want to purchase an old car so that you buy the best one in Singapore.
Where to buy your car from
When you want to purchase a used car, you have to ensure the car’s condition is the same the same as the way it was described as by the seller.
How cautious you will be able to check the car will depend on the person you will be purchasing the car from. If you are willing and able to pay more money, you can decide to buy an old car from a known dealership or official showroom. The benefit that you can get when you purchase an old car from a dealer is that they are well known in Singapore media and car market they will have a high probability of being honest and reliable. Some of the companies that do offer the best car rental services are usually advertised daily in newspapers and other forms of media. Making it easier to make a follow up.
Therefore you will be confident that the car will look the same way the dealer described it. The dealers can also offer warranties for the used cars that you buy from them; this can act as a surely for those who may wish to know how long the car can take.
After you buy the car, you will be protected further by the law, that says that any goods that will be sold by businesses that are registered have to be working up to a given standard. You may opt to purchase a car from the individual seller, but with this work extra hard so that you make sure that you get the car that you want. In case you opt to buy from the individual seller, you have followed these guidelines
Look at many sellers – It is good that look at the various sellers in the market that you know on the prices that they charge on their cars. If you look at this, you will be able to negotiate so that you buy a car at a fair price.
Request for maintenance and servicing records – If you want to get a car that can last for a long period, you have to choose a regularly maintained and serviced car. Even if you are getting the car rental services for a short period it is good to scrutinise the documents.
Inspecting the car thoroughly- It is good that before you buy a car, you look for an expert mechanic or professional evaluation centre to assist you in inspecting the car to be sure of the mileage, age, and cars’ condition. Some dealers can attempt to mislead you by repainting the car to cover up the scratches; they can even give you fake records about the mileage, age, maintenance records, and accidents.
Before you buy the car you have to test it- When you do this, you will be able to know gearbox condition, steering, brakes and the suspension. In some cases, you may find that the brakes are not functioning correctly.
Ensure that you have a difference in the transaction document and the agreement is witnessed by a third party. It is goo that before you sign an agreement, you read through it so that you avoid the chances of you paying for some hidden fees. It is good that you also don’t sign the agreement until when you have completed the transaction since some dealers can attempt to alter it after renting you a car. Such companies that do offer car rental services usually try to change the terms so that you will not be able to deny if they accuse you of tampering with the car they have lend you..
Comparison between COE and PARF car
When you want to buy a car, you can either purchasing a COE or PARF one.
With PARF we mean one that is less that 10 years and you deregister before 10 it you will be able to get a rebate (PARF). A COE is one that you will that its COE has been renewed and the former owner would have paid the pending Quota premium for around five years or an additional of 10 years.
Specifications of a PARF car
Require you to higher down payment
You can get both the PARF and COE rebates
– Has less maintenance costs
– Newer vehicle
– Les total mileage
– Low road tax
Specification of COE car
– Very cheap
– Low down payment
– You can get a COE rebate
– You may pay high maintenance costs
– Older vehicle
– Higher total mileage
– High road tax
COE cars can be more than 10 years old, and they can be the cheapest option that you can take. Since the car will be on the open market value (OMV), it will have depreciated from the price that it was when it was new and when you look at the car it should reflect that. You have to look if the premium Quota of the COE was renewed, this was you will have to save a lot of money as you will not pay for the current Quota premium.
For instance, the cost of paying for COEs in the group A in the year 2008 was $ 10,744, in the year 2015, it was $ 49,644, and on 2017 the COE costs were $ 52,450. You will find that if you purchased a COE car and renewed it was COE in 2008, you will have to pay less, therefore, save a large amount of money. In case you decide to deregister the COE car, you will qualify to get a COE rebate for the period that is left.
However, there are some disadvantages if you buy a COE car. One is that you will be required to pay more road tax when the car ages past 10 years. For 10 years you will pay additional charges on the road of 10 %, 11 years you will pay + 20 %, 12 years you will pay +30 %, and for 13 years you will pay +40 %
It is also good that you look at car’s condition as you will find that a car with a higher mileage would have depreciated so much such you will pay more for repair costs.
If you a PARF car you will get an opportunity of driving a newer car, that has traveled a less mileage, will need fewer maintenance costs and you will pay less road tax until the car has lasted for 10 years. You will not only get this benefits you can also benefit when you deregister your COE before it expires as you will get the PARF rebate and the COE rebate.
With a PARF car, you will pay a lot of money compared that you will pay for the COE. Since the PARF cars tend to be newer compared to the COE ones, you will get that when you buy PARF cars OMV they will not have depreciated by a great percentage.
Above all, Visit Car Insurance Shopper now for car insurance policy. Be it used cars, new cars or even rental cars, you ought to equip yourself with insurance.