9 août 2022 · Here's how the depreciation and scrap value of a car affects its sales price and also the cost of owning a car in Singapore.
How is scrap value of car calculated in Singapore?
If you intend to buy and own a car for ten years before deregistering it, the scrap value of the car at year 10 will be 50% of your Additional Registration Fee (ARF). This is also known as your Preferential Additional Registration Fee (PARF) rebate.
How is car scrap value calculated?
The price is determined by weight of the vehicle to be scrapped and is typically Rs 15 per kilogram of metal parts. If the car is in working condition and its parts can be sold, you can get a higher price for the vehicle.
How to calculate the value of your car in Singapore?
The scrap value is made up of two parts: COE Rebate and the PARF Rebate. You will receive a rebate based on the portion of unused COE. This is pro-rated to the number of months and days remaining on the COE, and is based on the last Quota Premium (QP), or Prevailing Quota Premium (PQP) that you paid