Scraping a car

[Stuntmandave]

Hi, i was wondering when we scrap a 10year old car, the money we get back is mainly for deregistering the car rite? How much of it do we get for the car's shell? Is it possible to just deregister a 10year old car but dont send it to the scrap yard and keep it in my house? and how much do i stand to lose by doing this as opposed to the normal scrapping routine?

 

TIA

[Redeel]

At the end of 10 years, what you get back from scrapping your car is the PARF. The PARF is calculated based on a percentage of the car OMV. The standard percentage given by LTA is as follows:

 

Registered before May 2002 - 80% of OMV

Registered after May 2002 - 65% of OMV

Registered after March 2004 - 55% of OMV

 

After getting your PARF back (it is only a piece of paper), it can be converted into cash by selling it to dealers (they will charge you an amount for it, usually a percentage of the PARF amount). Alternatively, the PARF can be used to register a new car, but there is NO guarantee the dealer/distributor will allow the use of the full PARF value.

 

If the car 'shell' is sold to the scrap yard/dealer, you may/may not be paid an amount for it. It depends on the car make, model and age at time of scrap.

 

The de-registration process is sometimes very tedious, hence most people would prefer trading in their whole car and let the dealer do the de-registration himself.

 

eddie

[Guyver]

Scraping 10yr old car... no Parf value.. only COE rebate... u'll need a scrapyard to certify scraping your car... so how u wanna do.. is between u and the scrapyard...

 

Think it's like that...

[Hitman]

keep it in my house?

 

Can ... but gotta apply at LTA .... but your house must be off public roads, including HDB carparks. HDB carparks are public parking

[Stuntmandave]

  Quote

keep it in my house?

 

Can ... but gotta apply at LTA .... but your house must be off public roads, including HDB carparks. HDB carparks are public parking

 

haha ya lah i know there will be other restrictions and problems but i was just interested in knowing how much i stand to lose if i decided to keep the shell compared to the normal scraping procedure