Change in parf rebate amount

[LoUsyGamER]

Change in parf rebate amount​

New update from lta.

 

[Hyperephania]

Wow GG...

Cost more to own a car now...COE don't to the moon, they nerf PARF to the ground?

 

[Sauron]

Will this crash COE? If not then what's the point

 

[PiKa]

Parf parf and away

 

[Cashflow202]

resale value of car essentially become ZILCH


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[agent_719]

nowadays own a car really for the rich
Really all out to push EV.

 

[Cashflow202]

car resale value no more inherent parf rebate value given if at scrap is only 5% of arf


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[herzberg]

Basically pwn ice cars la, because ev parf mostly kosong under current rebates scheme.

 

[lowveld]

We don’t have a fishing choice to keep the car for free after ten years right

 

[Level42]

I wonder if this is meant to discourage people from buying ICE vehicles as the EV rebate continues to decline. The problem is that EV road tax remains unreasonably high. Saving $1,000 per year adds up to $10,000 over 10 years, and the loss in the PARF rebate will only magnify this saving.

After 10 years, ICE vehicles can still renew their COE until the final deadline, but EVs cannot (battery degradation problem). ICE owners may gamble that the LTA will delay the policy date, allowing them to extend usage longer.

 

[angcsbenny]

Impact should be minimal for electric vehicles. All the electric car rebate originally deducted from parf.

 

[RyanJ]

Sad day for ICE owners.

Even sadder day for ICE owners that smoke.

 

[Hyperephania]

For simple calculation sake, if,

Car OMV = $20K and ARF = 100%

Buy price of car is $40K and own for 10 years then dereg,

Previous scheme:
Depre = ($40K - ($20K * 0.5)) / 10 = $3K/year

New scheme:
Depre = ($40K - ($20k * 0.05)) / 10 = $3.9K/year

Please correct me if I'm wrong...

 

[Velton]

By right, cost of car should be lower? But become cheap cheap many Ppl buy.. COE go up. Ah Gong wins again!!

 

[Geminiboy]

Rich men’s problem.

Oh wait. Rich men no problem.

 

[PiKa]

I think some used phones has higher resale value.

 

[Cashflow202]

By right, cost of car should be lower? But become cheap cheap many Ppl buy.. COE go up. Ah Gong wins again!!

no arf of 100% remains the same.

it's the rebate portion that is adjusted at the end of car cycle


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[nyvrem]

Coe won't crash, will chiong more !

Mahjulah LTA !

 

[dev_stg_prd]

Will this crash COE? If not then what's the point

Buyers should be clever enough for coe to absorb this deficit. Maybe around 15k ish

 

[Sirlighty]

In the end, govt win hands down