Do converted OPC car have PARF benefits?

[Bau_ong]

Hi all,

i read through onemotoring.com on parf benefits and still feel confused on the Parf Rebates thingy

 

i hope that Car gurus here could pass me some practical examples to illustrate the Parf benefits..

Thanks in advance

 

PS: I quite a NOOB... so please forgive my NOOBENESS and don't slam me thanks

 

Example 1)

http://www.sgcarmart.com/used_cars/info.ph...444&DL=1009

4 year 4 month old PARF car (52mths old car)

black plate

 

COE $11,901

OMV $16,546

 

If i convert to red plate from black plate, i will get the following

 

a) yearly payout of 2200SGD till the end of COE

b) A flat discount of $500 on annual road tax, subject to a minimum road tax payment of $70 per year

c)The additional PARF rebate is calculated based on $2,200 per year for the period that the car remained as a converted OPC under the OPC scheme (in months and days).

= 52/12 x 2200

= 9533 SGD

 

c) if i scrap my car when the car is 9 years old, i will stand to gain 50% of ARF paid, ie

 

New ARF = 16,546 + 9533

= 26,079

0.5 x 26,079 = 13,039

 

Am i right?

Edited September 23, 2010 by Bau_ong

[Wahlin]

Should be right since PARF is based on what your already paid on ARF. Unlike those OPC original, the 17000 rebate is used to offset first COE then ARF.

[Ehchang8]

Hi all,

i read through onemotoring.com on parf benefits and still feel confused on the Parf Rebates thingy

 

i hope that Car gurus here could pass me some practical examples to illustrate the Parf benefits..

Thanks in advance

 

PS: I quite a NOOB... so please forgive my NOOBENESS and don't slam me thanks

 

Example 1)

http://www.sgcarmart.com/used_cars/info.ph...444&DL=1009

4 year 4 month old PARF car (52mths old car)

black plate

 

COE $11,901

OMV $16,546

 

If i convert to red plate from black plate, i will get the following

 

a) yearly payout of 2200SGD till the end of COE

b) A flat discount of $500 on annual road tax, subject to a minimum road tax payment of $70 per year

c)The additional PARF rebate is calculated based on $2,200 per year for the period that the car remained as a converted OPC under the OPC scheme (in months and days).

= 52/12 x 2200

= 9533 SGD

 

c) if i scrap my car when the car is 9 years old, i will stand to gain 50% of ARF paid, ie

 

New ARF = 16,546 + 9533

= 26,079

0.5 x 26,079 = 13,039

 

Am i right?

 

a and b i know. but c and d not sure.

when my friend bought a normal car and converted it to red plate, i don't think he received any rebate as in c. he had rebate for road tax, i think, and 1100 at end of six months.

[Ahgong]

Just to add to this query...

what if instead of scrapping/de-registering at 9 years, you do it at 9 years 10 months, does the PARF rebates still apply?