How does conversion of OPC to normal plate works?

[Rayoflight]

Hi Bros,

 

Any one know how does it work?

 

For eg, http://www.sgcarmart.com/used_cars/info.ph...938&DL=2080

 

pay $7k for conversion to normal plate.

 

that means its about 35k for that rex.

 

It also stated, take back 14k after COE expires.

 

Any cons to such a deal? what do i lose? what do i gain?

 

 

and lastly, any experience with this dealer? *8 motor trading

 

Cheers.

[Jlyb86]

When searching for my ride i came across some OPC dealers offering to convert their OPC to normal plate, pricing wise is almost the same as normal plate. Only advantage i can say is that for the same ride you will get a much lesser mileage car since its a OPC to start off with.

 

Hope it helps.

[Friendstar]

I just converted to normal plate. U can pm me

[Sunnyday76]

Coincidentally, I'm looking at conversion same as you (then again, I guess it's not uncommon for drivers to consider conversion from OPC to normal plate these days especially in such absurd COE pricing). Was doing some homework these days and came across this interesting blog -- from a mathematical calculation point of view!!

 

http://dear1dear2.wordpress.com/2010/03/31...calculations-3/

http://dear1dear2.wordpress.com/2009/12/11...calculations-2/

http://dear1dear2.wordpress.com/2009/11/26/opc-calculations/

 

Another website which I constantly monitor is this chap's blog. Very insightful.

http://singaporemotoring.blogspot.com/

 

** Above websites last accessed 2 Aug 2011 **

[Hngatino]

I'll be converting mine this weekend as well. Currently driving an 07 Toyota Wish. Thought of trading-in for a new normal plate car next year, but the current COE levels made me abandon all thought.

[Sunnyday76]

yah lor, i have the exact same intentions too.. mine is a '07 ride as well.. but i'll monitor the coe trend again till start of next year.. who knows, the sun may 1 fine day rise from the west and coe level goes back to the '07 level haha..

[Rayoflight]

strangely, im just curious, wont the conversion be based on the COE which was obtained at the point of time? eg, year 05?

 

Is it converted based on current COE levels?

 

This dealer dunno issit trying to smoke me.. for eg, i saw a toyota rush(OPC) at AML, he said not worth it..need to convert base on current COE levels..

 

is it true?

[Nlatio]

  On 8/2/2011 at 10:39 AM, Rayoflight said:

strangely, im just curious, wont the conversion be based on the COE which was obtained at the point of time? eg, year 05?

 

Is it converted based on current COE levels?

 

This dealer dunno issit trying to smoke me.. for eg, i saw a toyota rush(OPC) at AML, he said not worth it..need to convert base on current COE levels..

 

is it true?

 

Convert from OPC to Normal plate got nothing to do with COE.. whether past, present or future..... when buying OPC, MIW gibe S$17,000 rebate, spread over 10 years.... so if let say one want to convert on the 4th year, one need to pay MIW 17,000 divide by 4 plus outstanding road tax, since road tax is higher for normal plate plus some admin fee etc etc.... there is a conversion calculator at One Motoring..... it will tell you exactly how much to pay, base on when you decide to convert.... and btw, ask the farking dealer go fly kite.....

[Calvin79]

But pls note that unless the dealer does it for u... U can't get a loan for the conversion. If u buy a opc and want to do your own conversion, u have to outlay the conversion price to LTA... That's what I knew from the bank...

[Aleoleo]

If not mistaken, 17k divide by 10 yrs, so each yr is 1.7k. If you convert from opc to normal car plate after 5 yrs, you have to pay 17000 - 5 x (1700)

 

 

[Hngatino]

  On 8/2/2011 at 10:39 AM, Rayoflight said:

strangely, im just curious, wont the conversion be based on the COE which was obtained at the point of time? eg, year 05?

 

Is it converted based on current COE levels?

 

This dealer dunno issit trying to smoke me.. for eg, i saw a toyota rush(OPC) at AML, he said not worth it..need to convert base on current COE levels..

 

is it true?

 

Tell that dumbass to fly kite and walk away. The conversion is based on the initial COE priced obtained at the point of purchase.

[QQDreamer]

Do you guys take loan from bank to do the top up conversion from OPC to normal plate?

[Edwardthy]

cannot take loan. Dun think any banks wanna loan you any $$. You have to fork out the extra $$ yourself.

[QQDreamer]

  On 5/1/2012 at 1:11 PM, Edwardthy said:

cannot take loan. Dun think any banks wanna loan you any $$. You have to fork out the extra $$ yourself.

 

what if ask for exisiting loan bank? do u think they can loan?

 

[QQDreamer]

  On 5/1/2012 at 1:11 PM, Edwardthy said:

cannot take loan. Dun think any banks wanna loan you any $$. You have to fork out the extra $$ yourself.

 

what if ask for exisiting loan bank? do u think they can loan?

 

[Pocus]

I've read somewhere in the thread that some do offer loans, but they treat it as different loan and the interest rate very boh hua...brute cash is still be best...

Edited May 1, 2012 by Pocus

[QQDreamer]

anyone come across if the topping up loan can loan from bank? and integrate it into the car existing loan? any such application?

[Hydraexhaust]

Hi guys, i need some help here. Im driving my friends 2007 OPC suzuki swift 1.3M and the ownership is still under his name. I would like to change the ownership to my name and then change to a normal plate car. ive called LTA and they told me the total amount for me to pay to convert it to normal plate is $7600. they said the payment need to be paid 1 lump sum.