How to calculate PARF value of the car

[Sgspurs]

For those cars after 2002, how do you calculate the PARF value (ie the value of the car you can get back if you scrap it)

 

From the lta website, cars < 5 years can get 75% of ARF

 

 

How does one get the ARF ? Is it 110% of the OMV ?

 

Thanks.

[Redeel]

For cars registered before March 2004, ARF is 130% OMV. After that, ARF reduced to 110% OMV.

 

eddie

Edited October 26, 2004 by Redeel

[Sgspurs]

okay...so for new cars..if you next time decide

to scrap within 5 years, you will get

0.75 * (1.1 * OMV) + (years left *(COE/10))

 

correct ?

[Geforce]

PARF Rebate for Car Registered from June 2002 - Feb 2004 (130% of ARF)

1st to 5th : 97.5% x OMV

6th : 91% x OMV

7th : 84.5% x OMV

8th : 78% x OMV

9th : 71.5% x OMV

10th : 65% x OMV

 

PARF Rebate for Car Registered from March 2004 onwards (110% of ARF)

1st to 5th : 82.5% x OMV

6th : 77% x OMV

7th : 71.5% x OMV

8th : 66% x OMV

9th : 60.5% x OMV

10th : 55% x OMV

 

Eg .. You buy a Toyota Altis now at $70K (COE at $24K) with a OMV of $16K. When you scrap the car at the end of 2nd year, LTA will only give you back $34.8k.

[Redeel]

You got the idea. =)

 

eddie