asked about General
almost 3 years ago
Hi I have a few questions to asked Q1) With the current COE stated yesterday if I want to get a new car how much do I need to fork out? Q2) If scrap car and to retain car plate number what is the proper procedure? Q3) How much is the admin fee for the above transaction for Q1&Q2?
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1 Answer
1. Since you did not specify what car then in general when buying a new car, the cost break down is as follows: Market value of the Car (OMV) + COE + PARF + GST + excise duty + dealers margin + insurance + road tax.
2. The proper procedure is to firstly visit the scrapyard or get a quote from https://www.motorist.sg/scrap-export-car and they will handle the rest for you. After which when you are happy with the offer, you will be asked to transfer ownership. Select the option of retaining carplate, but you have to fork out $1,300 to LTA.
3. Admin fee for buying a new car, the cost should be covered under dealers margin. There is no admin chargers when going through motorist to scrap your car however there might be for other local scrapyards.
hope this helps!