What is PARF for vehicles?

[revenant]

And what's the "formula" for selling a used car?

Registration fee + Cost Price + Road Tax + COE + additional registration fee (140% of OMV) and customs duty (31% of OMV).

Is it the above?

 

[lazyfiddler]

Originally posted by revenant
And what's the "formula" for selling a used car?

Registration fee + Cost Price + Road Tax + COE + additional registration fee (140% of OMV) and customs duty (31% of OMV).

Is it the above?

I think the cost of a used car = PARF rebate + COE rebate. For additional information about how much your used car cost at least, check out www.lta.gov.sg

Just type in your car registration number and the LTA computer will return a value on the worth of your car.

 

[revenant]

Originally posted by lazyfiddler


I think the cost of a used car = PARF rebate + COE rebate. For additional information about how much your used car cost at least, check out www.lta.gov.sg

Just type in your car registration number and the LTA computer will return a value on the worth of your car.

thanx for the fast reply.

I used url to check the Vehicle prices and came across OMV, COE and PARF. So just wondering if the PARF fee is also included in the selling of a used car.

 

[lazyfiddler]

Originally posted by revenant


thanx for the fast reply.

I used url to check the Vehicle prices and came across OMV, COE and PARF. So just wondering if the PARF fee is also included in the selling of a used car.

If I can recall correctly, OMV is the amount that you will get back if your car comes to the end of its statutory lifespan of 10 years and that you scrap the car. It then follows that the COE will be $0 at the end of the 10 years. Unless you extend the car life, you have to pay the Prevailing Quota Premium for the COE. This is calculated on the moving average of the COEs over the last months.

Yes. I think PARF is included in the sale of the car. Included will also be what left of the current COE in which the car was entitled to.

 

[revenant]

Originally posted by lazyfiddler


If I can recall correctly, OMV is the amount that you will get back if your car comes to the end of its statutory lifespan of 10 years and that you scrap the car. It then follows that the COE will be $0 at the end of the 10 years. Unless you extend the car life, you have to pay the Prevailing Quota Premium for the COE. This is calculated on the moving average of the COEs over the last months.

Yes. I think PARF is included in the sale of the car. Included will also be what left of the current COE in which the car was entitled to.

Yeah, I know for the OMV and COE. Just confused over the PARF.

thanx for the input.

I think let's wait for more confirmation post before conclusing PARF is included

 

[lazyfiddler]

Originally posted by revenant


Yeah, I know for the OMV and COE. Just confused over the PARF.

thanx for the input.

I think let's wait for more confirmation post before conclusing PARF is included

You looking to sell your car and get a new one??? The new "no down-payment" ruling by MAS sure has made it really attractive for people looking to buy a new car!

 

[Paladin]

Well the OMV of a car varies over its age. Ranges from 130% to 80%. Use the onemotoring link, check your parf and add it to your current COE rebate amt..that will be your scrap value to start with

For Cars (old) Registered On or After 1 Nov 90:


Not exceeeding 5 130% of OMV
Above 5 but not exceeding 6 120% of OMV
Above 6 but not exceeding 7 110% of OMV
Above 7 but not exceeding 8 100% of OMV
Above 8 but not exceeding 9 90% of OMV
Above 9 but not exceeding 10 80% of OMV
Above 10 0% of OMV

 

[revenant]

Originally posted by Paladin
Well the OMV of a car varies over its age. Ranges from 130% to 80%. Use the onemotoring link, check your parf and add it to your current COE rebate amt..that will be your scrap value to start with

For Cars (old) Registered On or After 1 Nov 90:


Not exceeeding 5 130% of OMV
Above 5 but not exceeding 6 120% of OMV
Above 6 but not exceeding 7 110% of OMV
Above 7 but not exceeding 8 100% of OMV
Above 8 but not exceeding 9 90% of OMV
Above 9 but not exceeding 10 80% of OMV
Above 10 0% of OMV

I guess you're refering to this url right?

hmm..... so PARF is included in the selling price of a used car?

How to calculate (Any formula?), still a bit blur.

 

[maddog]

i guess a lot of ppl hands are itchy cos regulations have been lifted. seems like most carshops implementing 10% downpayment, 7-10 year loan periods. Car loan 2.4-2.7%.

 

[dragos]

I also very itchy...hehe

 

[revenant]

IN JUST two days, new car prices have shot up by as much as $5,000 as thousands of customers flock to showrooms, cheque books in hand.

More story here.