Number of new off-peak cars dives as COEs rise

[ER-3682]

The amount need to pay to covert to normal plate depends on what factor ah?

Age of the Car...

[13177]

Age of the Car...

So the amount is fixed no matter how much the car price and coe?

[Beehive3783]

Prorate of SGD 17,000 to pay back to LTA based on the car's remaining age.

 

For example, if car left 1 year, you pay $1700 to LTA to convert back to normal plate.

 

Change of number plate to normal plate is about $150 thereabouts.

 

So the amount is fixed no matter how much the car price and coe?

 

[sHy3r]

Clever people will know... where does the rebate of $17,000 Govt take from? It’s ur paper...

[Banz86]

Clever people will know... where does the rebate of $17,000 Govt take from? It’s ur paper...

[DACH]

Isn't insurance for OPC car and normal plate car the same?

[Philipkee]

Isn't insurance for OPC car and normal plate car the same?

No. At least mine was $200 cheaper. Under AXA.

 

BTW, there is OPC and ROPC. Some cars might still be under OPC scheme which was the original scheme (cannot drive full day on saturdays etc) but most red plates should now be ROPC which is what we are more familiar with (drive full day on saturdays,on eve of some PH...)

[ER-3682]

So the amount is fixed no matter how much the car price and coe?

Yes.

[13177]

Clever people will know... where does the rebate of $17,000 Govt take from? It’s ur paper...

Edited September 18, 2018 by 13177

[Philipkee]

So your opc car would have lower value when you sell or scrap?

 

 

 

Opc car registered now all are under the new scheme which can drive full day on sat de. Maybe this makes it more attractive to own opc. But i always think the saving on opc car is only on the $17000, dont find the saving on the road a lot per year on opc vs normal plate.

 

Not to forget you need to go for opc seal inspection every year, an additional of money need to spend just for them to inspect the seal in less than 1 min. Lol.

1) I traded in my car for my current accent. I have been making close to 27k in payments when I traded it in for 18k. 7.5 years thereabouts.

 

2) I got the car when it was OPC. Road tax was $50 only. Converted it to ROPC when the scheme came up (about two years later?). Conversion from OPC to ROPC was not compulsory though new cars from then were only registered under ROPC if they wated it to be red plate with the rebates.

 

It is thus not impossible for there to still be some OPC on the roads though most cars with red plates should be ROPC.

 

With ROPC my road tax was $250. OPC it was $50. I drove an avante then.

 

I was working shift then so I HAVE to be at work by 0645 so it suits me. My parking was free (negotiate with security but that's another story) so let's say I am morning shift on Monday and afternoon shift on Tuesday. I will park on Monday morning, go back by Mrt, go work on Tuesday by MRT and drive home on Tuesday night.

 

Savings is A LOT if you don't drive to work. If you have to then it's different. I try to budget only one e-coupon per week or 4 per month. E-coupon cos for much of the time when i owned OPC and ROPC, the proof that you paid the $20 was in a hard copy coupon as compared to now where it is electronic.

 

At 7.5 years, my mileage was 125000km which to me is a lot since I did not drive the car routinely ( OPC/ ROPC).

Edited September 18, 2018 by Philipkee

[13177]

Consider quite inconvenience to drive to work on morning shift but still need to take mrt if on afternoon shift? Honestly some people would think that if could afford that $17000, might as well registered as normal plate and park at the carpark even you dont drive the car everyday. Cause when you need to use the car, you can use it anytime you want even for just a 10 mins usage. No need to spend $20 on the licence at all. Lol.

 

For some people they might still find there is a huge saving even if they buy the $20 licence lets say twice per week for 1 month.

[Philipkee]

Consider quite inconvenience to drive to work on morning shift but still need to take mrt if on afternoon shift? Honestly some people would think that if could afford that $17000, might as well registered as normal plate and park at the carpark even you dont drive the car everyday. Cause when you need to use the car, you can use it anytime you want even for just a 10 mins usage. No need to spend $20 on the licence at all. Lol.

 

For some people they might still find there is a huge saving even if they buy the $20 licence lets say twice per week for 1 month.

True. Thing is then I don't drive to work routinely like now. Cos I was not entitled to free parking then (I negotiate with security but it's another story) so it kind of don't make sense to get a regular car then.

 

I kept the ROPC when I did office hours cos the season parking per month at my new work place was $90/ month which is not cost effective to me (I just drive on weekends then or the occasional week days to do stuff).

 

My current job the parking rate is much cheaper(and I am entitled to season parking) and since I drive routinely now, yeah I drive a regular car now.

 

As for convenience I am of two minds cos I am of the belief that your life style will adjust to your assets.

 

When I had OPC/ROPC I will take public transport more often and just cheong to JB early in the morning then drive the whole day and return at night.

 

I got a regular car now as i drive as a matter of routine but if it's nearby or in town sometimes I just take bus/MRT cos to me, driving is to be enjoyable and its not worth spending hours in a car stuck in a jam and driving simply because you have a car.

 

So I still use public transport sometimes even now.

 

Oh and I did calculate before. Rebate is 17000 for 10 years or 1700 a year or 140 a month. So you can buy 7 coupons a month consistently and you still save money from road tax and such.

 

So unless you routinely purchase 8 or more coupons a month, it is worth it to drive ROPC.

 

If you buy less than 7 a month you have more savings.

Edited September 18, 2018 by Philipkee

[Banz86]

I had the same thoughts as you but for a ROPC, your mileage is high. My car's mileage is at 92.5k after owning it for 8 years 9 months and I thought that was high.

 

I did a spreadsheet and it is cost effective if one only pays eday license less than twice a week. If one utilises more then that, it would be more cost effective for a normal plate. 

 

Back to answer some questions above.

1. Yes, insurance is definately much lower than a normal plate. I think 10 to 20%.

 

2. Qn: So your opc car would have lower value when you sell or scrap?

- Depends on where they deduct the $17k from. As mentioned, mine was deducted from my COE therefore if I drive till scrap, I will still get my full PARF back. For people whom bought the car at lower COE like 10k, the $17k will be deducted from their OMV/ARF, which in turn will reduce their PARF when scrap. 

 

3. OPC seal inspection is $10.70 per annum. The only pain is you have to go for inspection every year which is your own personal time. $10.70 is a small expense to pay when you have already saved 10 to 20% on your insurance not including the $ you save on the road tax.

[13177]

I had the same thoughts as you but for a ROPC, your mileage is high. My car's mileage is at 92.5k after owning it for 8 years 9 months and I thought that was high.

 

I did a spreadsheet and it is cost effective if one only pays eday license less than twice a week. If one utilises more then that, it would be more cost effective for a normal plate. 

 

Back to answer some questions above.

1. Yes, insurance is definately much lower than a normal plate. I think 10 to 20%.

 

2. Qn: So your opc car would have lower value when you sell or scrap?

- Depends on where they deduct the $17k from. As mentioned, mine was deducted from my COE therefore if I drive till scrap, I will still get my full PARF back. For people whom bought the car at lower COE like 10k, the $17k will be deducted from their OMV/ARF, which in turn will reduce their PARF when scrap. 

 

3. OPC seal inspection is $10.70 per annum. The only pain is you have to go for inspection every year which is your own personal time. $10.70 is a small expense to pay when you have already saved 10 to 20% on your insurance not including the $ you save on the road tax.

Some people told me before it is still cost saving and worth to get opc if you pay eday licence up to 3 times per week, even for every week. So i dont know which theory is right? Lol.

[Banz86]

This table is based on my car's conversion and when I would like to conver to normal plate. 

 

Note:

The figure is extracted directly from one motoring using my car plate number.

 

Using the following numbers, the assumption will be

1. "Depreciation" or savings if we keep as OPC is $42 to $43 per week.

2. Taking into considerations eDay is $20 per day.

3. Correct assumption will be 2x OPC usage per week.

 

$ 2,401 - 29-Sep  - $43

$ 2,358 - 6-Oct  - $42

$ 2,316 - 13-Oct  - $42  

$ 2,274 - 20-Oct - $ 42

Edited September 18, 2018 by Banz86

[Philipkee]

Some people told me before it is still cost saving and worth to get opc if you pay eday licence up to 3 times per week, even for every week. So i dont know which theory is right? Lol.

Definitely not worth it if it is consistently three e day licence every week. Even if you calculate the road tax savings plus insurance savings unless it is really a big car and the 10-20% off the insurance is a lot.

 

But if once in a while three times a week then yeah.

This table is based on my car's conversion and when I would like to conver to normal plate.

 

Note:

The figure is extracted directly from one motoring using my car plate number.

 

Using the following numbers, the assumption will be

1. "Depreciation" or savings if we keep as OPC is $42 to $43 per week.

2. Taking into considerations eDay is $20 per day.

3. Correct assumption will be 2x OPC usage per week.

 

$ 2,401 - 29-Sep - $43

$ 2,358 - 6-Oct - $42

$ 2,316 - 13-Oct - $42

$ 2,274 - 20-Oct - $ 42

My bro converted his ROPC car to regular. I did not. Anyway, 7-8 eday tickets a month is about there.

 

You notice I keep using the word ROPC as opposed to OPC. Cos my car started out as OPC and savings was much more. $50 road tax only...

[13177]

Definitely not worth it if it is consistently three e day licence every week. Even if you calculate the road tax savings plus insurance savings unless it is really a big car and the 10-20% off the insurance is a lot.

 

But if once in a while three times a week then yeah.

My bro converted his ROPC car to regular. I did not. Anyway, 7-8 eday tickets a month is about there.

 

You notice I keep using the word ROPC as opposed to OPC. Cos my car started out as OPC and savings was much more. $50 road tax only...

If used 7-8 eday tickets a month, meaning every week consistently used 2 eday tickets, consider quite a lot also. Might as well covert to normal plate. Lol.

[Banz86]

If used 7-8 eday tickets a month, meaning every week consistently used 2 eday tickets, consider quite a lot also. Might as well covert to normal plate. Lol.

 

Yeah, I would agree to that as well.

 

Btw, my car started off as OPC as well and I convert to ROPC 2 months after I got the car..