Deregistration Value

[Pusiwagon]

I know that the existing scheme for post Feb 2013 cars will be based on 50% of ARF. On my vehicle's "log card" as obtained from the LTA / OneMotoring portal, there is a category entitled "Actual ARF Paid". Hence for degistration purposes, is the 50% (almost at the end of the 10 year period) based on this "Actual ARF Paid" amount? OR

 

is the reregistration value actually the amount stated under the category entitled "MinimumPARF Benefit" (which is also stated on the "log card").

 

Many thanks.

[7hm]

  On 5/30/2015 at 10:47 PM, Pusiwagon said:

I know that the existing scheme for post Feb 2013 cars will be based on 50% of ARF. On my vehicle's "log card" as obtained from the LTA / OneMotoring portal, there is a category entitled "Actual ARF Paid". Hence for degistration purposes, is the 50% (almost at the end of the 10 year period) based on this "Actual ARF Paid" amount? OR

 

is the reregistration value actually the amount stated under the category entitled "MinimumPARF Benefit" (which is also stated on the "log card").

 

Many thanks.

 

To receive a correct answer you might want to share whether your car is a post-Feb-2013 registration or a pre-Feb-2013 registration...

[Pusiwagon]

To clarify, it is a post Feb 2013 registered car. Thanks

[t0y0ta]

  On 5/30/2015 at 10:47 PM, Pusiwagon said:

I know that the existing scheme for post Feb 2013 cars will be based on 50% of ARF. On my vehicle's "log card" as obtained from the LTA / OneMotoring portal, there is a category entitled "Actual ARF Paid". Hence for degistration purposes, is the 50% (almost at the end of the 10 year period) based on this "Actual ARF Paid" amount? OR

 

is the reregistration value actually the amount stated under the category entitled "MinimumPARF Benefit" (which is also stated on the "log card").

 

Many thanks.

 

Traditionally, for cars registered after 2008, the scrap value, or $$ you will get back from government is = 50% of ARF paid. So usually the category "minimum PARF benefit" will be = 50% of ARF value.

 

In your case, if it is different, then I imagine that it could be because your car was entitled to CEVS rebate. The rebate is given upfront (paid to the car dealer who sold you the new car) but it is actually deducted from your PARF value, when calculating scrap $$.

 

For example if your

 

PARF value was $20k,

but your car got a $10k CEVS rebate,

then your scap value (min PARF benefit) will be $5k ((20k -10k)x50%)