Related Questions
- What is omv and arf value? What does it mean if both of their values are the same? If i plan to buy a second hand car which is 8 or 9 years old, how do i calculate how much will i get after scraping at the end of 10 years?
- I have already entered into an agreement with a dealer to purchase a new car. How would I know if I will get to enjoy the rebate or be imposed with a surcharge under the Vehicular Emissions Scheme (VES)? Will I get a refund if my car falls into the incentive band?
- Will my vehicle's warranty void after converting to CNG-driven vehicle?
- How were the bands for Vehicular Emissions Scheme (VES) determined?
- How does car trade-in works?
How can we assist you?
Clayton Soh asked about Scrap/Export Car
over 3 years ago
How to determine scrap value other than quote from dealer?
299 Views 1 Answer
How can we assist you?
1 Answer
Hi Clayton!
The scrap value of your car depends on when do you intend to scrap/deregister your vehicle. If you intend to scrap your car before your COE expires, it is calculated based on the formula below:
Scrap Value = Total COE rebate + Total PARF rebate
Your COE rebate is pro-rated based on the remaining amount of your COE.
If you intend to drive your car till the very last day of your COE, here's the formula:
Scrap Value = Total PARF rebate
To find out the amount that you are able to get back as 'scrap value', you can check it on LTA's website via the link below. Take note, you will have to select the intended deregistration date and that the amount varies, depending on the date you select.