Sell or scrap

[Alphas]

COE going to expire in 4 months, not going to extend COE for my KIA cerato. Should I buy new car or trade for a used car?

 

Anyone knows the procedure for scraping?

[Vega]

the answer really depends on your financial situation.

 

if can, buy a new one.

[alphard96]

the answer really depends on your financial situation.

 

if can, buy a new one.

yes, a lot depends on how much money we are willing to be used for "car".

With current COE price - agree, do not extend COE.

For scraping, check onemotoring website

 

http://www.onemotoring.com.sg/publish/onemotoring/en/lta_information_guidelines/de_register_a_vehicle/de-register.html

 

 

A) Scrapping of vehicle

 

 

• Obtain a Transaction Pin.

 

 

• Submit an online application to authorise a submitter to de-register your vehicle at the scrap yard;
• Send the vehicle to one of the Appointed Scrap Yard Operators within 5 calendar days of your online application. Otherwise, the application will lapse and you will have to re-apply. Please note that your vehicle will remain registered until it is de-registered at the scrap yard; and
• Bring along the following:

 

(i) Duly completed de-registration application form;

 

(ii) Original NRIC (Singaporean, Singapore PRs & Malaysian) or Passport (foreigner other than Malaysian) of the submitter authorised by you to de-register the car at the scrap yard; or

 

(iii) Original Identification Document(s) of the vehicle owner (Click here for the list of identification documents required) if no authorised submitter is appointed online; and

 

(iv) Road Tax Fees (if the road tax is outstanding at the point of vehicle de-registration).

 

 

• Land Transport Authority (LTA) will notify the last registered owner of the vehicle's de- registration, the details of any PARF/COE rebate(s) and/or arrears of road tax/late renewal fee(s), if applicable.

[Dfx16]

Somewhere in sgcarmart there's a link to scrap or export car service provider

Click into the link and fill in the form

Within days many exporter and scrap yard service provider will be contacting you

 

I used that services last year to export my car that left with about 13 mtns of COE

[Alphas]

Has anyone tried export car, may fetch higher price since in good condition?

[Ezfaun]

If scrap, u should get around 1k body and around 5-6k arf rebate. Coe rebate is (amount paid x months of coe left) / 120 months.

If sell to dealer, they will offer you slightly above body only. I think scrap is better but make sure you scrap before 10 years or not

you won't be eligible for arf and coe rebate, which could be used to offset the purchase of your next car.

[TVT]

Actually I see some owners wanna scrap a car before it reaches its 10th year, maybe at its 8th-9th year. Why huh?

 

Is it becos there's a repair which is too expensive n not worth fixing it? Or he wants to sell the car but find it hard to sell it? So scrapped it, get paper valve + leftover COE rebates to save all the trouble ?

[Ezfaun]

Actually I see some owners wanna scrap a car before it reaches its 10th year, maybe at its 8th-9th year. Why huh?

 

Is it becos there's a repair which is too expensive n not worth fixing it? Or he wants to sell the car but find it hard to sell it? So scrapped it, get paper valve + leftover COE rebates to save all the trouble ?

 

This one I donno so much. By right an 8 year old car should still have some value in the market. Most likely they scrap because

no one want to bite. But if want to scrap, might as well wait till about 9.5 years to maximize the use of the car

 

But one thing, must scrap before 10 years so can claim parf rebate which would be 50% of arf for that age. Scrap after 10 years,

you will throw away 5k plus for bnb car and even more than double or triple that if conti or sport car.

[1fast1]

My Vios is approaching scrap time (it's more than 9 years old). I've never scrapped a car before so feel like going through with it to see what the procedure's like. I understand that, as an AA member, there's a scrap package or something?

 

Anyway, am not really looking at the finances of it - am thinking about the novelty of scrapping a car rather than just trading it in. Probably a dumb notion.

[Kangadrool]

AA does it for you "free" door-to-door service, but doubt you will get some small $$$ for the body in return. Only paper value.

 

Since it's a T, there might be some body value. So, you can drive it to appointed scrapyard yourself and some will give you $50 as taxi fare home. Call the scrapyards to check.

 

Onemotoring has detailed procedure on how to do it.

 

You may want to salvage some items before scraping like sports rims, hi-fi system, etc.

 

My Vios is approaching scrap time (it's more than 9 years old). I've never scrapped a car before so feel like going through with it to see what the procedure's like. I understand that, as an AA member, there's a scrap package or something?

 

Anyway, am not really looking at the finances of it - am thinking about the novelty of scrapping a car rather than just trading it in. Probably a dumb notion.

 

Edited July 2, 2014 by Kangadrool

[1fast1]

AA does it for you "free" door-to-door service, but doubt you will get some small $$$ for the body in return. Only paper value.

 

Since it's a T, there might be some body value. So, you can drive it to appointed scrapyard yourself and some will give you $50 as taxi fare home. Call the scrapyards to check.

 

Onemotoring has detailed procedure on how to do it.

 

You may want to salvage some items before scraping like sports rims, hi-fi system, etc.

 

 

 

Thanks for the advice bro. Anyway, still thinking about things - may still decide to trade in for another Vios (my wifey loves this car!) if the price is right and it's significantly less hassle.

[TVT]

 

This one I donno so much. By right an 8 year old car should still have some value in the market. Most likely they scrap because

no one want to bite. But if want to scrap, might as well wait till about 9.5 years to maximize the use of the car

 

 

Problem arise if the car is in need of an expensive repair (eg. change gearbox or overhaul engine) costing >$5K...If its an 8-9 year old car, is it still worth the repair and drive till 9.5 years ?

 

Even if wanna sell in the market, no one will buy also, unless the repair is done.

 

Onemotoring has detailed procedure on how to do it.

 

 

 

They also have a calculation formula to estimate how much you can get back if you scrap the car before the 10th year, for both paper value and reminding COE rebate.

 

Very convenient.

 

 

Thanks for the advice bro. Anyway, still thinking about things - may still decide to trade in for another Vios (my wifey loves this car!) if the price is right and it's significantly less hassle.

 

The new Vios is quite good looker....and the meter dials are now put in front of the driver, not in the center anymore.

[Kangadrool]

If buying another T, must well trade-in 'cos some ADs give extra "discounts" for trade-in of same make. Not sure if BM practice this.

 

 

Thanks for the advice bro. Anyway, still thinking about things - may still decide to trade in for another Vios (my wifey loves this car!) if the price is right and it's significantly less hassle.

 

[Ezfaun]

 

Problem arise if the car is in need of an expensive repair (eg. change gearbox or overhaul engine) costing >$5K...If its an 8-9 year old car, is it still worth the repair and drive till 9.5 years ?

 

Even if wanna sell in the market, no one will buy also, unless the repair is done.

 

 

I see.. That means that they want to cut their losses and not deal with the hassle. Good point actually.

[Alphas]

What about exporting the car, maybe some dealers helps you export the car to other countries and give better amount?

 

First time having a 9+ yr car, blur like sotong.

[Acemundo]

 

I see.. That means that they want to cut their losses and not deal with the hassle. Good point actually.

 

actually everything can be rationalized in terms of $ and cents. it doesn't mean a big repair bill necessitates the scrapping of car...let's look at an example......

 

 

current owned car depreciation 6k per annum.......current market depreciation for similar category car say 9k.

 

if the car still have 1 year left, then the increase in depreciation the owner would suffer if he scraps and replace it with another would be $3k over 1 year. if the repair bill is more than $3k then scrap it, if less than $3k, it still makes sense to repair it.

 

if there is 2 year left, this $3k is divided by 2 and becomes $1.5k and makes it compelling to repair instead of scrap. above illustration is done on assumption on no loan. where there is loan we have to remember a newer car cost more in absolute $ and hence incurs more interest.

What about exporting the car, maybe some dealers helps you export the car to other countries and give better amount?

 

First time having a 9+ yr car, blur like sotong.

 

 

not every car can be exported or is worth the while to export.

 

for example some other countries import rule states that the car should never be more than 5 years old.

 

demand for jap car is high in south east asia region. so there is more demand for such cars to be exported to such countries. SEA region is almostly predominantly RHD, hence there is demand for singaproe cars.

 

whereas for contis, especially the less popular makes, it surely don't have a market in SEA region and outside of SEA region only a few countries like Aussie, NZ is RHD.

[2cents]

COE going to expire in 4 months, not going to extend COE for my KIA cerato. Should I buy new car or trade for a used car?

 

Anyone knows the procedure for scraping?

For your reference :

 

http://www.sgcarmart.com/quotz/valuation.php?type=scrapexp

[Ezfaun]

 

actually everything can be rationalized in terms of $ and cents. it doesn't mean a big repair bill necessitates the scrapping of car...let's look at an example......

 

 

current owned car depreciation 6k per annum.......current market depreciation for similar category car say 9k.

 

if the car still have 1 year left, then the increase in depreciation the owner would suffer if he scraps and replace it with another would be $3k over 1 year. if the repair bill is more than $3k then scrap it, if less than $3k, it still makes sense to repair it.

 

if there is 2 year left, this $3k is divided by 2 and becomes $1.5k and makes it compelling to repair instead of scrap. above illustration is done on assumption on no loan. where there is loan we have to remember a newer car cost more in absolute $ and hence incurs more interest.

 

But then again, you get 55% parf rebate for scrapping at 8 years instead of 50% at 9 years. Hmm...

 

Liddat like almost no difference to repair. Only more heartpain cause need to wait longer to buy new car

Edited July 2, 2014 by Ezfaun