Early Renewal COE

[hokeylim]

Buy a new car now. Get back your remaining PARF value on your 9yr old car and offset the price of new car.

 

[ckh98258]

if you renew, u will lose ur parf value.
How much ur car part value?

At the end of my current COE I can get back less than 13k parf.

 

[ckh98258]

Bro, you read my mind!

So to say, you feel it is low now?
Gosh that is why the demamd is still pretty strong now, well...

Beside that point as many mentioned, many will drive til the 10th year and see how, not only on the COE then but how your car's condition will be and is there a better car(brand new or pre-owned) out there worth for your consideration to really decide to buy another car and scrap your current or just to renew it.

At the end of the day, just trying to stretch the dollar to make any purchase more worthy.
But beside that, if you feel it is a good time and price to renew, go ahead.

Guess your current ride was bought at 2008 when COE was pretty low hence rebate is low. If to forgo your parf earlier seem fine too(since you plan to renew; thou your dep calculate to be slightly higher);

JUST DO IT.

As nobody now can tell you what will 2018's COE price be.

 

[ralliart_ray]

Kindly dont misled readers.

Go call LTA parf will confirmed be gone once renewed.
101% plus chop.

Called. Can you call and check?

For TS, he is renewing at 9th year of his car age.
For example,, his car's 1st COE expire 31 Dec 2018, but he decide to renew COE now... from now until 30 Dec 2018, if TS decide to de-register, he will be able to get back the PARF.

Lol fake news!

zhun bo?

 

[AL5509]

Called. Can you call and check?

For TS, he is renewing at 9th year of his car age.
For example,, his car's 1st COE expire 31 Dec 2018, but he decide to renew COE now... from now until 30 Dec 2018, if TS decide to de-register, he will be able to get back the PARF.

I too called before and checked.
Was posted on another thread before.
Some did so too. And parf was forfeited too upon renewal.

No offence but think it this way, if renew on the last day of 9th year and can take back parf, who in singapore will renew on the 10th year?

Got such loophole, confirmed will be spread like wild fire.
But our government not stupid to put a stop too lo.

 

[AL5509]

Read this:
http://forums.hardwarezone.com.sg/cars-cars-204/car-coe-renewal-questions-5386104-3.html

 

[ralliart_ray]

I too called before and checked.
Was posted on another thread before.
Some did so too. And parf was forfeited too upon renewal.

No offence but think it this way, if renew on the last day of 9th year and can take back parf, who in singapore will renew on the 10th year?

Got such loophole, confirmed will be spread like wild fire.
But our government not stupid to put a stop too lo.

where got loop hole?

if renew on the last day of 9th year, you forgo ur 1year of COE (1st COE)

assume you renewed another 10 years.....immediate cash layout of 50k+

You sort of prolong ur drive to 19 years... and at the same time you have that chance to deregister at the car at the last day before 10th year (car's age) to get back PARF.... if you decide to walk away

 

[AL5509]

where got loop hole?

if renew on the last day of 9th year, you forgo ur 1year of COE (1st COE)

assume you renewed another 10 years.....immediate cash layout of 50k+

You sort of prolong ur drive to 19 years... and at the same time you have that chance to deregister at the car at the last day before 10th year (car's age) to get back PARF.... if you decide to walk away

Blur.
Are we referring to PARF?
Based on your example:
Q:
'if renew on the last day of 9th year, you forgo ur 1year of COE (1st COE)'

Will the parf be forfeited?

 

[AL5509]

Bro, you read my mind!

JUST DO IT then.

 

[ralliart_ray]

Blur.
Are we referring to PARF?
Based on your example:
Q:
'if renew on the last day of 9th year, you forgo ur 1year of COE (1st COE)'

Will the parf be forfeited?

from my understanding and conversation with LTA this morning......the parf will not be forfeited until the car vehicle age is 10years

Peferential Additional Registration Fee (PARF) Rebate
The PARF rebate is computed based on the age of the car at deregistration. The age of the car is computed from the date of its registration (locally or overseas, whichever is earlier).
The table below list the applicable PARF rebate based on the age of the car at deregistration:
Age at Deregistration PARF Rebate

Not exceeding 5 years 75% of ARF paid
Above 5 but not exceeding 6 years 70% of ARF paid
Above 6 but not exceeding 7 years 65% of ARF paid
Above 7 but not exceeding 8 years 60% of ARF paid
Above 8 but not exceeding 9 years 55% of ARF paid
Above 9 but not exceeding 10 years 50% of ARF paid
Above 10 years Nil

 

[AL5509]

from my understanding and conversation with LTA this morning......the parf will not be forfeited until the car vehicle age is 10years

If so, this is a good news for all drivers really.

Really a no brainer if someone plan to renew.
Since renew on the 9th year or before entitled their parf, male no sense to renew on the 10th year.

 

[trento]

from my understanding and conversation with LTA this morning......the parf will not be forfeited until the car vehicle age is 10years

it will still be forfeited eventually at the 10th year as long as COE is renewed eventually

for eg, i renew at 9th year. Parf stays. at the 10th year, parf gone. COE continues

 

[AL5509]

Peferential Additional Registration Fee (PARF) Rebate
The PARF rebate is computed based on the age of the car at deregistration. The age of the car is computed from the date of its registration (locally or overseas, whichever is earlier).
The table below list the applicable PARF rebate based on the age of the car at deregistration:
Age at Deregistration PARF Rebate

Not exceeding 5 years 75% of ARF paid
Above 5 but not exceeding 6 years 70% of ARF paid
Above 6 but not exceeding 7 years 65% of ARF paid
Above 7 but not exceeding 8 years 60% of ARF paid
Above 8 but not exceeding 9 years 55% of ARF paid
Above 9 but not exceeding 10 years 50% of ARF paid
Above 10 years Nil

Dont know how many read this?

The phase stated:
'Above 9 but not exceeding 10 years 50% of ARF paid'
Above 9(years) NOT exceed 10 years means 9 years 5 months too?

9 years 5 months will get back PARF too?

Pardon for my poor understand of the phase...

 

[ralliart_ray]

it will still be forfeited eventually at the 10th year as long as COE is renewed eventually

for eg, i renew at 9th year. Parf stays. at the 10th year, parf gone. COE continues

Yes Trento, that is the understanding. renew at 9th year. Parf stays until 1day before 10th year. (Car age) So u have to take that decision to forgo or continue driving

 

[ralliart_ray]

If so, this is a good news for all drivers really.

Really a no brainer if someone plan to renew.
Since renew on the 9th year or before entitled their parf, male no sense to renew on the 10th year.

U have to scrap (de-register) ur car at 1day before 10th year to get the parf leh, where got good.

 

[AL5509]

U have to scrap (de-register) ur car at 1day before 10th year to get the parf leh, where got good.

Hhmm I seriously dont understand what you are trying to share?

Are you talking about renewing COE on the 9th year to grt back the PARF(this is our discussion about?), no?

Now you mentioned scrap aka de-reg???? Which even you scrap aka de-reg on the last day of the COE/car will still be entitled your PARF lo.

So are we talking about renew or de-reg??

Blur blur blur...

 

[ralliart_ray]

Hhmm I seriously dont understand what you are trying to share?

Are you talking about renewing COE on the 9th year to grt back the PARF(this is our discussion about?), no?

Now you mentioned scrap aka de-reg???? Which even you scrap aka de-reg on the last day of the COE/car will still be entitled your PARF lo.

So are we talking about renew or de-reg??

Blur blur blur...

renewing COE on the 9th year, you wont get back the PARF like that. (You have to deregister) the PARF rebate is computed based on the age of the car at deregistration.

The statement of: once you renew COE, you forgo PARF is not as true. For TS situation renewing COE on the 9th year, the PARF value is preserved until 1 day before "10th" year of car age... thats all.

which why i said in my 1st post:

he wont lose his PARF at 9th year, only at end of 10th year even if he renew

and you all quoted me giving wrong info.....

 

[trento]

renewing COE on the 9th year, you wont get back the PARF like that. (You have to deregister) the PARF rebate is computed based on the age of the car at deregistration.

The statement of: once you renew COE, you forgo PARF is not as true. For TS situation renewing COE on the 9th year, the PARF value is preserved until 1 day before "10th" year of car age... thats all.

which why i said in my 1st post:



and you all quoted me giving wrong info.....

technically yr right. but i think watever the case, once u renew coe, whichever year, u won't be getting any cash back.

the most common scenario is i renew at 10th year, say 3 months before expiry, i don't get any money back, now or 3 months later on expiry.

so for drivers, it's always a choice of taking the parf (cash), or spending to renew coe. Not possible for both.

personally, i like renewing coe assuming it stays more or less the same. U only pay the COE 5 years at 25k or so. Tats only 5k pa. Buying a used COE car from dealer will be more expensive, needless to say used or new cars.

If not happy, simply scrap or sell and im guaranteed coe rebate.

 

[winningeleven]

I have a argument about parf being forfeited once coe being renewed before 10 years. For my understanding. It is not true.

Not surprising that many car owners actually don't know about this.

PARF followed your car age from the day u registered . As long u deregister your car before it reaches the 10 years old age. U get your parf. Of course u have to fulfill some conditions

Jamie says:
A vehicle owner will be eligible for the PARF rebate if he renews the COE in advance, provided the following conditions are fulfilled:


i. The car must be less than 10 years old (from the date of its registration in Singapore or the original date of its registration in the foreign country, whichever is earlier) at the time of de-registration;

ii. The car must have been licensed at all times (i.e. not laid up); and
iii. Not be an imported used car registered before 1 September 2007.

 

[Bond388]

Okok...this is my what i did....

my car expire on 25th Dec 2017 (reg 2007)
on 26th Nov ...i paid 10 yrs PQP (Nov PQP $41994)
so my car now is fr 1 Dec 2017 to 30 Nov 2027 (10 yrs)
1 to 25 Dec COE kana makan
my scrap value is $7350 (50% of ARF)

I called LTA to confirm this....(call 2X to confirm)
if i scrap my car before 24 Dec 2017...
1)...i can get back my scrap value $7350..
2)...and i can get back $41996 minus number of days fr 1 dec 2017
(pro rated fr 1 Dec 2017)
3) road tax (also pro rated to number of days)

If i scrap after 25 Dec....scrap value gone....only left PQP value.
so now i have till 25 Dec.....either scrap (in case COE drop to $2)
and get back about 49K, or i continue to use the car.

Y i paid fo 10 yrs???
if COE goes very high...i still can continue to drive this car....
if COE goes down a lot.....i will scrap car and get back pro rated
PQP...and buy new car.

sorry for my broken english...haha