Did PARF rebate go down suddenly?

[Aerosmith]

did LTA suddenly change PARF rebate rule.

 

if i remember correctly two years ago, i read somewhere that says parf rebate for cars registered before 2008 above 9 years old but below 10 years old have 55% parf rebate.

 

why now i check on website it is 50% only?

 

who stole that 5%

[Kangadrool]

reduce liao mah...

 

I am not surprised some people will be caught by surprise that when the day the scrap their cars, they don't even get a single cent back. All thanks to so called CEV rebates.

 

did LTA suddenly change PARF rebate rule.

 

if i remember correctly two years ago, i read somewhere that says parf rebate for cars registered before 2008 above 9 years old but below 10 years old have 55% parf rebate.

 

why now i check on website it is 50% only?

 

who stole that 5%

 

[t0y0ta]

did LTA suddenly change PARF rebate rule.

 

if i remember correctly two years ago, i read somewhere that says parf rebate for cars registered before 2008 above 9 years old but below 10 years old have 55% parf rebate.

 

why now i check on website it is 50% only?

 

who stole that 5%

 

I think you are confused between OMV and ARF value.

 

Last year (9 yr -> scrap) Min PARF rebate for cars registered from May 2002 onwards will get 50% of ARF value.

 

For cars registered before Feb 2008, the ARF value was 110% of OMV, thus 50% of ARF = 55% of OMV

 

Cars registered after Feb 2008 ARF value of 100% of OMV, thus 50% of ARF = 50% of OMV.

 

Reference: http://www.lta.gov.sg/content/ltaweb/en/roads-and-motoring/owning-a-vehicle/costs-of-owning-a-vehicle/tax-structure-for-cars.html

Edited February 8, 2015 by t0y0ta

[Aerosmith]

 

I think you are confused between OMV and ARF value.

 

Last year (9 yr -> scrap) Min PARF rebate for cars registered from May 2002 onwards will get 50% of ARF value.

 

For cars registered before Feb 2008, the ARF value was 110% of OMV, thus 50% of ARF = 55% of OMV

 

Cars registered after Feb 2008 ARF value of 100% of OMV, thus 50% of ARF = 50% of OMV.

 

Reference: http://www.lta.gov.sg/content/ltaweb/en/roads-and-motoring/owning-a-vehicle/costs-of-owning-a-vehicle/tax-structure-for-cars.html

 

thanks man for the clarification.

cause i all along thought those before 2008 is 55% of OMV.

lucky is a misconception, it is still 55%.

[Vhtfhwlego]

reduce liao mah...

 

I am not surprised some people will be caught by surprise that when the day the scrap their cars, they don't even get a single cent back. All thanks to so called CEV rebates.

 

 

got minimum $2500.

 

If OMV is $10,000 while CEV is $20,000.

It suppose to be $10,000 LESS $ 20,000 = -$10,000

No such thing for LTA to give rebate on green cars as they said, there was be minimum $ 5000 charge on ARF.

 

So even your CEV is $20,000, the ARF would be S$ 5000.

ARF $5k X 50% = S$2.5k.

 

So actual CEV discount is $5k less Parf differences = S$2.5k.

 

you think LTA really giving money?

[Hosaybo]

Aiya...gov way to kill 2 birds. Going green and reducing the overall price of car to make it playable for people. Like vezel, think new price is abt 110k and got high cevs. Scrap value at 10 year is low.

[Spring]

This CEVS rebate is actually a good thing.

 

What is not good is the implementation cos as usual LTA wants to make it easy for themselves so they give this rebate by offsetting against the ARF/COE and other registration fees and as usual those opportunistic ADs conveniently package it into the new car price but us buyers don't get the full rebate. LTA should either refund the CEVS rebate to buyers directly or some other way but admittedly it's administratively harder for them.

 

What was a good intention has again been taken advantage of by opportunists and as usual we buyers end up losing out