Convert normal plate to OPC - PARF benefits ?

[Canisminor]

I have a 2 yr old normal plate car (less than 10 yrs) which I don't need to use for approx 1 yr, but I don't want to sell it. If I convert it to an OPC for the 1 yr period, and then convert back to normal plate after 1 yr, understand that there will be additional PARF benefits added to the car.

From what I can find on Onemotoring, seems like additional PARF benefit is $2,200 per year which the car is an OPC. Wondering if my calculations are correct :

 

Assuming OMV is $20,000, scrap at 10 yrs, and car has been an OPC for 1 year.

 

PARF rebate is 50% of ARF, ARF is 110% of OMV, so rebate is (20,000 x 110%) x 50% = $11,000

 

Does the additional 2,200 PARF mean the paper value of the car is now $13,200 instead of $11,000 ?

 

Appreciate if someone who has done this before can advise. Thks !

[Quirky_ster]

it's something like that.. or can wait a while till they announce the cash rebate thingy... though me not sure if they will make the announcements.... it kind of died down since February and expecting the announcement to come in April.. but now May already..

 

[Little_prince]

maybe postpone to next yr budget announcement?

 

[Sporadic]

Converted my car 1.5 yrs ago. Your calculation is right!

[Lab4games]

convert from normal to OPC and back to normal?

does LTA allow more than 1 time conversion?

[Blueegg]

Yes. As many times as you like. Actual conversion fee is only about $100 or so.

[Canisminor]

Is there some permanent modification to the car required ? I was told a bracket needs to be welded to the car body for the OPC plate seal, and saw a car with a hole in the bumper for the bracket to pass through...

[GaryLim]

Is there some permanent modification to the car required ? I was told a bracket needs to be welded to the car body for the OPC plate seal, and saw a car with a hole in the bumper for the bracket to pass through...

 

yes. that why first time conversion to OPC plate, the cost is $140. bulk of the cost is this bracket.

[Hungryforcar]

it's something like that.. or can wait a while till they announce the cash rebate thingy... though me not sure if they will make the announcements.... it kind of died down since February and expecting the announcement to come in April.. but now May already..

 

Any news about this ?

[Christan]

also thinking of converting my normal to OPC since not using it for my work. Mostly indoors or overseas. How long does it take to convert to OPC as my road tax due in Jan 10

Edited December 9, 2009 by Christan