Search the Community
Showing results for tags 'PARF'.
-
good people, I was goign through my insurance renewal when a particular clause strikes me, its says it includes insuring the COE & PARF value, and there is a tick for me to OPT OUT. My question now is, isn't COEs & PARF value guaranteed? Meaning, if in the event of total wreck or lost of vehicles, my remaining COE & eligible parf will be paid for by the governemnt? OR am I missing the point totally? -
hi there, starting this topic on behalf of my friend. recently my friend has rented a car from his friend that was into car rental service. he happily chose a car from another dealer and the car dealer friend was going to buy in the car to lease to him fora year . he have opted for upfront payment for 1 year contract for the car which amounted to $30000, including SOP 2 months deposit. he has received the hire agreement, and vehicle log (parf & coe rebate enquiry) to submit the Grab for private hire car use. however, the vehicle log card had a column, Dereg XX AUG 2018, Exporting : Yes Is this any normal or something my friend has to worry about? please help out my friend as he already has passed 20k out of 30k to them.
-
Hello Guys, With the current new CEVs craziness. I'm holding purchase of a new car as there may discount opportunities next year when the new rules kick in. So I'm looking for a 2nd hand car that is between having 1-3 years of COE left to replace my car due for scrap in june. Interesting 1 category down jap cars of 1.6L command a higher depreciation of 10-12k for those 7-8 years of age. Anyway I'm currently looking at 2L cars that depreciate between 8 - 10k per year for under 3 years of COE left. After trawling a couple of pages of SGCarmart, these were what I found. 1. Subaru Legacy 2.0R or Wagon 2. Volvo S60 3. Ford Mondeo 2.3A (erm, whats the difference between trend and no trend? seems to be a significant depreciation difference) 4. Citroën C4 Picasso 2.0A What are your thoughts on this? Assuming these cars are mostly 7-8 years old and high mileage. Which would you get and why? It seems strange that the Volvo S60 would depreciate similar to the other 3. Actually I saw 1 BMW also depreciate under 10k but likely to have expensive maintenance thus did not list it here.
-
Hi all, Just a general query that if one intend to renew coe, we cannot use self bid right through the open budding system. We need use the 3 bids average px determined by LTA? Thanks
-
I need some help with some clarification. I've purchased a used Proton Gen 2 1.3M with the COE due on 1 August 2016 for $5500 OMV: $9,221 Original registration date: 1st August 2006 Actual ARF Paid: $10,144. Parf eligibility expiry date: 31 July 2016 Parf rebate amount: $5072 QP paid: $10,803 I need to ask if I were to de register and scrap/export my car on 22 July 2016, will that means I'm able to get back $5072 from the Parf rebate when encash? Will I need to pay LTA approved dealer for the processed of scrapping or exporting my car? And also do depreciation value take parts in the amount I can actually get back from LTA. Cause the seller wrote to me this. Buy: $5500 Min Parf: $5072 Diff: $430/3 months Depreciation lesser than $144/per month. This sounds too good to be true. Owning a car at $144 per month. Please help I need to know the actual cash that I can get back after scrapping/export my car after I de register it. I'm still new to all these. Hope for enlightenment.
-
Got a question for all experts here, assuming i scrap my car and end up with the paper certs from LTA. And if I go on to buy a brand new car, can i use these certs to offset the purchase? I hear that I can do that with no "penalty" on the cert values, rite? Is this only true for distributors like Kah, BM .... How about for PI? Are they subject to this? Or can they deduct some % off as "commission"? Thanks!
-
http://www.sgcarmart.com/used_cars/info.php?ID=498841&DL=2724 Need some help. Am I right to say the Parf value of this E200 NGT is $31614. 55% X OMV.
-
PRESUME ... New Car A - CEVS Neutral Selling = $150,000 OMV = $20,000 CEVS = $0 ARF = $20,000 PARF = 50% of ARF = 50% x $20,000 = $10,000 Straight Line Depri = $150,000 - $10,000 = $140,000 over 10 years = $14,000 per year New Car B - CEVS Rebate Selling = $150,000 OMV = $20,000 CEVS = $10,000 REBATE ARF = $20,000 - $10,000 = $10,000 PARF = 50% of ARF = 50% x $10,000 = $5,000 Straight Line Depri = $150,000 - $5,000 = $145,000 over 10 years = $14,500 per year New Car C - CEVS Surcharge Selling = $150,000 OMV = $20,000 CEVS = $10,000 SURCHARGE ARF = $20,000 + $10,000 = $30,000 PARF = 50% of ARF = 50% x $30,000 = $15,000 Straight Line Depri = $150,000 - $15,000 = $135,000 over 10 years = $13,500 per year Tio Bio?
-
Mod : Please post in sgcarmart.
-
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.
-
did LTA suddenly change PARF rebate rule. if i remember correctly two years ago, i read somewhere that says parf rebate for cars registered before 2008 above 9 years old but below 10 years old have 55% parf rebate. why now i check on website it is 50% only? who stole that 5%
-
If I buy a converted 2nd hand OPC (Reg 2006), will I still get back any PARF rebate when I scrap the car after COE expires? For example, the car was initially a OPC and the owner had converted it to a normal car after 5 years, then decided to sell it. 1st to 5th year - OPC 6th year - Normal plate 7th year - Sell If I buy it on the 7th year and drive it until COE expires, how much PARF value will I get back, assuming OMV is 10K?
-
Hi guys, curious, normal cars can get back parf rebate after the cars have been scraped at yr10. but if a red place car conver halfwat, how does the parf work? im curious.. sorry if i did not put it out in the correct term, do correct me. haha thanks! -
Hi all, i read through onemotoring.com on parf benefits and still feel confused on the Parf Rebates thingy i hope that Car gurus here could pass me some practical examples to illustrate the Parf benefits.. Thanks in advance PS: I quite a NOOB... so please forgive my NOOBENESS and don't slam me thanks Example 1) http://www.sgcarmart.com/used_cars/info.ph...444&DL=1009 4 year 4 month old PARF car (52mths old car) black plate COE $11,901 OMV $16,546 If i convert to red plate from black plate, i will get the following a) yearly payout of 2200SGD till the end of COE b) A flat discount of $500 on annual road tax, subject to a minimum road tax payment of $70 per year c)The additional PARF rebate is calculated based on $2,200 per year for the period that the car remained as a converted OPC under the OPC scheme (in months and days). = 52/12 x 2200 = 9533 SGD c) if i scrap my car when the car is 9 years old, i will stand to gain 50% of ARF paid, ie New ARF = 16,546 + 9533 = 26,079 0.5 x 26,079 = 13,039 Am i right?
-
By Channel NewsAsia | Posted: 01 July 2008 1419 hrs SINGAPORE: Car owners will now have the option to exchange their Preferential Additional Registration Fee (PARF) and the Certificate of Entitlement (COE) rebates for cash. The change follows a government review of the rebates to make it easier for motorists to give up their cars and switch to public transport. From September 1, registered owners of un-used and valid PARF/COE rebates can apply to the Land Transport Authority for encashment. Once their applications are processed, they will receive a refund equivalent to the rebate amount. To facilitate the implementation of this change, PARF/COE rebates with expiry dates between July 1 and September 29 will be extended to the end of September. Those affected will be informed of the revised expiry dates within the next two weeks. Motorists who wish to use their PARF/COE rebates to offset the upfront taxes for a new vehicle can continue to do so. The LTA says it will continue to issue rebates to car owners upon de-registration of their vehicles. The rebates will remain transferable and valid for 12 months to provide flexibility to vehicle owners. Transport Minister Raymond Lim had announced in March this year that the government would be reviewing the PARF and COE rebates. This was to tie in with the overall effort to make public transport a choice mode for all commuters, including car owners. - CNA/yb http://www.channelnewsasia.com/stories/sin.../357513/1/.html[/b] at last some good news for car owners giving up on their rides.
-
Hi, Have read from some where that Commercial Vehicles do not have PARF, i.e. if they are to be scrapped before 10 years, only the COE value will be refunded, is it true ?
-
Hi, My brother has been thinking about changing cars. But when he asked me about OMV la, PARF la. I dont know how to explain to him Actually, I have exactly no idea what they are too.. Can anyone explain the terms and what to look out for if he wants to trade in or sell car to another dealer. Confused..
-
I have a 2 yr old normal plate car (less than 10 yrs) which I don't need to use for approx 1 yr, but I don't want to sell it. If I convert it to an OPC for the 1 yr period, and then convert back to normal plate after 1 yr, understand that there will be additional PARF benefits added to the car. From what I can find on Onemotoring, seems like additional PARF benefit is $2,200 per year which the car is an OPC. Wondering if my calculations are correct : Assuming OMV is $20,000, scrap at 10 yrs, and car has been an OPC for 1 year. PARF rebate is 50% of ARF, ARF is 110% of OMV, so rebate is (20,000 x 110%) x 50% = $11,000 Does the additional 2,200 PARF mean the paper value of the car is now $13,200 instead of $11,000 ? Appreciate if someone who has done this before can advise. Thks !
-
Hi guys, Just a sharing and an enquiry. Was at Automobile Mart over the weekend to check out some resale vehicles. Spotted a new C Class and inquired about the price and trade in package. The sales rep took my details and came back with my PARF rebate. Was told by him that if i was to trade in my Mini, his exporter will change 2% of the PARF rebate value. This is the first time i heard of this and so my question is: is this a market trick or is this a norm?
-
Government will undertake a review of the Preferential Additional Registration Fee (PARF) and Certificate of Entitlement (COE) rebates , with a view to make it easier for car owners to give up their cars and switch to public transport. In order to make it easier for car owners to give up their cars and switch to public transport, the Land Transport Authority will now allow cash exchanges of un-used and valid PARF/COE rebates. This is an additional option available to owners. Owners who want to use their rebates to offset the upfront taxes payable for a new vehicle according to the practice today can continue to do so. The LTA will continue to issue rebates to vehicle owners upon de-registration of their vehicles. The rebates will continue to be transferable and be valid for 12 months. This serves to provide flexibility to vehicle owners. PARF/COE rebate owners may submit their applications for encashment online through the ONE.MOTORING portal from 1 September 2008. Alternatively, they can mail the completed application form (Form FR02) for encashment (downloadable from www.onemotoring.com.sg) to the LTA from 1 September 2008. Once the application is successfully processed by the LTA, the registered owners of the PARF/COE rebates will receive a refund equivalent to the rebate amount via cheque at their registered address or through GIRO credit into their designated refund bank account registered with the LTA. The LTA will provide more details on the procedures for application for encashment nearer the implementation date of 1 September 2008. Extension of Validity Period for PARF/COE Rebates Expiring between 1 July 2008 and 29 September 2008 To facilitate the implementation of this change for the benefit of rebate owners, PARF/COE rebates that are still valid and un-used with expiry dates between 1 July 2008 and 29 September 2008 (both dates inclusive) will be extended to 30 September 2008. Affected owners will receive a notification from the LTA on the revised expiry date of their PARF/COE rebates within the next 2 weeks. -
Abstract from CNA, http://www.channelnewsasia.com/stories/sin.../357513/1/.html SINGAPORE: Car owners will now have the option to exchange their Preferential Additional Registration Fee (PARF) and the Certificate of Entitlement (COE) rebates for cash. The change follows a government review of the rebates to make it easier for motorists to give up their cars and switch to public transport. From September 1, registered owners of unused and valid PARF/COE rebates can apply to the Land Transport Authority for encashment. Once their applications are processed, they will receive a refund equivalent to the rebate amount. To facilitate the implementation of this change, PARF/COE rebates with expiry dates between July 1 and September 29 will be extended to the end of September. Those affected will be informed of the revised expiry dates within the next two weeks. Motorists who wish to use their PARF/COE rebates to offset the upfront taxes for a new vehicle can continue to do so. The LTA says it will continue to issue rebates to car owners upon de-registration of their vehicles. The rebates will remain transferable and valid for 12 months to provide flexibility to vehicle owners. Transport Minister Raymond Lim had announced in March this year that the government would be reviewing the PARF and COE rebates. This was to tie in with the overall effort to make public transport a choice mode for all commuters, including car owners.
-
plan to drive 2-3 years only. since we know OPC cars very hard to sell, my plan is to buy a parf car that is close to paper. so when time comes at 5th year, i can scrap. we also know road tax more ex for parf cars but i calculated is more worth to pay for road tax then to top up when i need to sell an OPC. comments on my plan? seems good so far!
-
Lake View Credit Ltd @ #03-09 @ Ubi Auto Mega Mart. They take in at very low Admins / Commission rate. Just Sold my PARF Paper value $343 to them for a nett $319. A very sweet & smart Lady Jacqueline will certainly brighten yr day there. Good Deal & Great Service
-
Sold my Trajet for 3 years already...almost forgotten about that monster and then... A letter from LTA telling me that the PARF value have been revised from $25,782 to $26,250. A jump of $609.00. I think it may be a case of under declaration but serve me no good as I need to buy another car to use the rebate. Anyone out there looking into buying a new car? Can do a transfer to you the amount to offset your purchase. Will do it for $500 cash. Transfer fee is $10.00 at LTA.
-
hey guys, just one simple question. i cant find the information on lta webby. if i want to renew my coe and drive for another 10 yrs, is it counted as de-registered? will you get back your parf value and u pay for a new coe? or is it that you lose your parf rebate. pasieh, nv renew coe b4.
