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Thread: URGENT advice needed for scrap value of COE cars

  1. #1

    Default URGENT advice needed for scrap value of COE cars

    Hope someone who knows about the scrap value of COE cars can help to clarify.

    I just viewed a 2nd hand car that is abt 19 -1/2 years old, with the intention to renew for another 10 years.

    The owner claims that even I scrapped it at the end of 20 years, I can get back $4900 minimum rebate from LTA. He also claims that the paper value now is $5800 although the 1/2 year COE left is only about 1k.

    Based on the supposed paper value, he is asking for another 2k more.

    But my understanding is for COE cars (after 10 years), you can only claim the remnant unused COE value and there is no PARF or any other value.

    Can someone clarify if this "paper value" claimed by the owner is true and how it is derived?

  2. #2

    Default Re: URGENT advice needed for scrap value of COE cars

    from the link, after 10 yrs, no more parf rebate (look at the table). this page also teaches u on COE rebate calculation.
    link


    80% of OMV. what is the OMV of that car? is it a imported car (Imported used car registered in Singapore before 1 September 2007 is not eligible for PARF rebate.)

    if unsure, don't buy. purchase from a license 2nd hand dealer.
    Last edited by dreaming; 8th June 2008 at 08:39 AM.

  3. #3
    Member
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    Default Re: URGENT advice needed for scrap value of COE cars

    For vehicles under 10 years old, if de-registered before COE expires, you get 80% OMV + remaining value of COE + whatever road tax is left.

    For vehicles above 10 years old, if de-registered before COE expires, you get the remaining value of COE + whatever road tax remains.

  4. #4
    Member agws1970's Avatar
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    Sep 2002
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    Default Re: URGENT advice needed for scrap value of COE cars

    From what I know, after owning 3 COE cars. There is no such thing as residual paper value after 10 years. Only value I can think of is export value for the chassis and it seems too high to be that. e.g. My last Benz 300SEL was only worth S$ 1300 exported.

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