Are you planning to sell your car or to take up an insurance and financing plan for your car? AA Singapore provides vehicle valuation for different car makes and models. Through this car valuation process, you can get a detailed report with a more precise indicative pricing of how much your used car is worth, as compared to estimates based on numbers generated by a car valuation calculator tool. At AA Singapore, we help you understand the value of your car so that you can sell your car directly to an end-consumer, a dealer or via consignment with a peace of mind.
Car Valuation at AA Singapore (SG)
How is Your Car Valuated in Singapore?
Car valuation in Singapore is calculated based on 3 key factors – the Open Market Value (OMV), Additional Registration Fee (ARF) as well as Certificate of Entitlement (COE). On top of that, your car condition and mileage are also taken into consideration during the valuation process.
3 key factors
1. Open Market Value (OMV)
The OMV of your vehicle is assessed by the Singapore Customs when it is imported into Singapore, where the purchase price, freight costs, insurance, as well as all the other costs involved in the sale and delivery of the car to Singapore were taken into account. The OMV possesses a considerable effect on your used car valuation, as it is essentially the base cost of your car, which would directly affect your car value.
2. Additional Registration Fee (ARF)
ARF is a tax imposed on the registration of a vehicle in Singapore. The ARF is calculated based on a percentage of the OMV value of your vehicle.
3. Certificate of Entitlement (COE)
COE gives you the right to register, own and use a vehicle in Singapore. However, the prices of COE fluctuates and is dependent on the market demand, along with the category of your car. When it comes to vehicle valuation, the value of your vehicle is also derived based on the remaining number of months and days on the COE.
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Note: price reflected excludes prevailing GST