Hamburger Hypersonic July 21, 2016 Share July 21, 2016 need confirmation on this. Say... if car renewed coe at 9.5 yrs and regretted one month later and chose to scrap, still able to get back parf value? ↡ Advertisement Link to post Share on other sites More sharing options...
skyworld_sg Neutral Newbie July 21, 2016 Share July 21, 2016 Hi guys, Need some advice on a car left 10 months from a friend of my friend, It is a Toyota Picnic in working condition. Mileage is high as it is used for business. The friend said I can either buy it at $20K+ (Parf is ~ $12k) or rent it at $1k per month. I am thinking to rent it as I no need pay insurance (it will cover unnamed driver with more excess) and road tax. Also it might help avoid the biggest concern that what if the car broke and need major maintenance. I will just use this car for slight use, warm up my driving skill before getting a new car, also waiting the COE, hopefully go down a few K. It is a 7 seat car, I actually don't like, might have higher fuel cost. Thinking to negotiate to $800 per month, do you guys think this is a good deal or any concern on it? I don't have car insurance myself. thanks very much, Michael Link to post Share on other sites More sharing options...
Beehive3783 Turbocharged July 21, 2016 Share July 21, 2016 I don't think so. Once you renew COE (regardless of year), the PARF is already forfeited. What you get back from a scrapped car with renewed COE is only the balance COE paid. need confirmation on this. Say... if car renewed coe at 9.5 yrs and regretted one month later and chose to scrap, still able to get back parf value? Link to post Share on other sites More sharing options...
Old-driver 5th Gear July 21, 2016 Share July 21, 2016 I don't think so. Once you renew COE (regardless of year), the PARF is already forfeited. What you get back from a scrapped car with renewed COE is only the balance COE paid. Is that right? I thought these 2 components are different. Link to post Share on other sites More sharing options...
Beehive3783 Turbocharged July 21, 2016 Share July 21, 2016 It is a fact that PARF rebate is forfeited once COE is renewed. Feel free to check with LTA for confirmation. Is that right? I thought these 2 components are different. 1 Link to post Share on other sites More sharing options...
Hamburger Hypersonic July 21, 2016 Share July 21, 2016 It is a fact that PARF rebate is forfeited once COE is renewed. Feel free to check with LTA for confirmation. That too is what my understanding is. But the post #2676 stated otherwise. Or I misinterpret it? Link to post Share on other sites More sharing options...
Caldina 1st Gear July 21, 2016 Share July 21, 2016 It is a fact that PARF rebate is forfeited once COE is renewed. Feel free to check with LTA for confirmation. Parf is forfeited upon reaching 10th years irregardless whether you renew COE. So you can still get your scrap upon reaching 10th years even if you renew COE before 10th year. Link to post Share on other sites More sharing options...
Beehive3783 Turbocharged July 21, 2016 Share July 21, 2016 I'm not sure if I understand what you are talking. From what I know: Deregister car after COE expiry = get back PARF rebate Renew COE = forfeit any PARF rebate From your post: "Parf is forfeited upon reaching 10th years irregardless whether you renew COE" - this is wrong. If you deregister the vehicle upon COE expiry of first 10 years, you get back PARF rebate. "So you can still get your scrap upon reaching 10th years even if you renew COE before 10th year." - I don't know what "scrap" refers to in your case. Parf is forfeited upon reaching 10th years irregardless whether you renew COE. So you can still get your scrap upon reaching 10th years even if you renew COE before 10th year. Link to post Share on other sites More sharing options...
UltraLiving Neutral Newbie July 21, 2016 Share July 21, 2016 Your Car Left 6 months to 5 years? Direct buyer here looking for 30 cars. Vios/Altis/Wish/Camry/Jazz/Stream all very welcome. OTHER MAKES pls pm me for more info. Reasonable and fast buyer, successfully closed 70+ cars with MCFers here. SMS your car to 92999912 for more info. Link to post Share on other sites More sharing options...
Beehive3783 Turbocharged July 21, 2016 Share July 21, 2016 Honestly, I do not understand what he is talking. Look at his latest reply to me. Do you? That too is what my understanding is. But the post #2676 stated otherwise.Or I misinterpret it? Link to post Share on other sites More sharing options...
Eu9ene Neutral Newbie July 21, 2016 Share July 21, 2016 Make: Honda Model: Civic 1.8A Mileage: 174kColour : Galaxy greyCOE Expiry Date: 21 December 2016Min Parf: $11,178 Handover 31July +- few days. Please offer through PM. Thanks. Link to post Share on other sites More sharing options...
Hamburger Hypersonic July 21, 2016 Share July 21, 2016 (edited) Honestly, I do not understand what he is talking. Look at his latest reply to me. Do you? as far as i am concerned, it contradicts to my understanding of LTA parf system. Edited July 21, 2016 by Hamburger Link to post Share on other sites More sharing options...
So_nice 6th Gear July 21, 2016 Share July 21, 2016 It is a fact that PARF rebate is forfeited once COE is renewed. Feel free to check with LTA for confirmation. No it's not a fact. The parf value is still intact so not its not more then 10 years. http://www.mycarforum.com/topic/2696441-anyone-got-car-left-3-4-months-want-to-get-rid-of/page-134?do=findComment&comment=5885175 Link to post Share on other sites More sharing options...
Beehive3783 Turbocharged July 21, 2016 Share July 21, 2016 (edited) Are you sure that the full PARF rebate can be encashed upon renewal of COE for car less than 10 years old? If it can be done, everyone would be renewing their COEs before 10 years to get their PARF rebate. The link you showed me is for COE balance rebate for renewed COE car scrapped before the renewed COE expires. No it's not a fact. The parf value is still intact so not its not more then 10 years.http://www.mycarforum.com/topic/2696441-anyone-got-car-left-3-4-months-want-to-get-rid-of/page-134?do=findComment&comment=5885175 Edited July 21, 2016 by Beehive3783 Link to post Share on other sites More sharing options...
Carnoob Supercharged July 21, 2016 Share July 21, 2016 (edited) There's no contradiction to PARF value at all. The PARF rebate is REFUNDED AFTER THE CAR IS DE-REGISTERED AND SCRAPPED / EXPORTED. So if the car's COE is renewed, I don't think anyone with the right mind will proceed to DE-REGISTER and SCRAP / EXPORT the car. If the hyperlink owner decides to DE-REGISTER the car and scrapped it, then yes he must do it before the PARF value expires on 27 Jul 2016. However, the hyperlink owner CANNOT encash the PARF value WITHOUT DE-REGISTERING the car and SENDING it to the scrap yard. So after 27 Jul 2016, the only rebate left will be the COE rebate amount. Edited July 21, 2016 by Carnoob 3 Link to post Share on other sites More sharing options...
Ct3833 Supersonic July 21, 2016 Share July 21, 2016 Are you sure that the full PARF rebate can be encashed upon renewal of COE for car less than 10 years old? If it can be done, everyone would be renewing their COEs before 10 years to get their PARF rebate. The link you showed me is for COE balance rebate for renewed COE car scrapped before the renewed COE expires. I think his case is because his new COE is in the processing of taking effect in the following month and the PARF of the car is still eligible currently until the existing COE is due next week. Link to post Share on other sites More sharing options...
Vinceng Turbocharged July 21, 2016 Share July 21, 2016 There's no contradiction to PARF value at all. The PARF rebate is REFUNDED AFTER THE CAR IS DE-REGISTERED AND SCRAPPED / EXPORTED. So if the car's COE is renewed, I don't think anyone with the right mind will proceed to DE-REGISTER and SCRAP / EXPORT the car. If the hyperlink owner decides to DE-REGISTER the car and scrapped it, then yes he must do it before the PARF value expires on 27 Jul 2016. However, the hyperlink owner CANNOT encash the PARF value WITHOUT DE-REGISTERING the car and SENDING it to the scrap yard. So after 27 Jul 2016, the only rebate left will be the COE rebate amount. I had a friend who renewed the COE for his conti car 6 mths before its 120th month (10th year) as COE was heading north at an escalating pace back in 2011. Within 3 months, his car's gearbox & aircon failed. He ended up scrapping his car and got back PARF & pro rated COE. 1 Link to post Share on other sites More sharing options...
Vmax26 1st Gear July 21, 2016 Share July 21, 2016 Honda Civic 1.6 auto Registered 24/10/2006 White colour Parf $10390 02 transfer Come with decent sound system pioneer 4350mp dvd n 3 month old pps tyre Battery abit weak n front left suspension not gd Overall is a well maintain car Mileage 150000 only Current paper ard 10500 body 1000 Ard $500 per month till scrap Asking $13000 FIRM Call or watsapp if u are fine with my asking price 81268581 Viewing at sengkang ↡ Advertisement Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In NowRelated Discussions
Related Discussions
Green fingers anyone?
Green fingers anyone?
Anyone into HK cantonese song (80s~end 90)
Anyone into HK cantonese song (80s~end 90)
Give aways
Give aways
Anyone into laopok Mercs?
Anyone into laopok Mercs?
Anyone drove from SG to Bangkok before? Any advice?
Anyone drove from SG to Bangkok before? Any advice?
Anyone here follows "The Walking Dead"?
Anyone here follows "The Walking Dead"?
Home-stay for holiday instead of Hotel? (AIRBNB)
Home-stay for holiday instead of Hotel? (AIRBNB)