Convert opc car to normal plate

[Vtfoo]

Question: I buy a 2nd hand opc car, but want to convert to normal plate. can it be done?

[Hiphiphoray]

Of course it can be done.

 

I read it somewhere a MCF bro just converted his recently. Pay by cheque and convert to normal plate within the same day.

[Surferguy1978]

there is a formula by LTA to calculate how much you have to pay.

[Nothingtodo]

Yes, confirm no problem one. Just pay the difference of wat ought to be the normal plate.

[Green_carnation]

taken from sgcarmart..

 

Application to convert an OPC to a normal car can be done at the Land Transport Authority (LTA). You will have to pay LTA S$100 as the conversion fee. In addition, you will have to fork out the pro-rated S$17K rebate which you have enjoyed when you purchased your OPC. The formula to calculate the top-up amount is as follows:

 

$17,000 x (120 months - No. of months that has passed at the point of conversion) / 120 months

 

This top-up amount will be apportioned to the COE and ARF value which shall be illustrated here with an example.

 

Car registered on 1 Jun 2005 as an OPC

 

COE = $11,000

ARF = $20,000

 

Because the car is registered as an OPC, the $17K rebate is used to offset the COE first, followed by the ARF. Therefore,

 

COE = $0

ARF = $20,000 - ($17,000 - $11,000) = $14,000

 

This OPC is now converted to normal car on 20 Jan 2007. The period when the car is registered as an OPC is as follows:

 

1 Jun 2005 to 31 Dec 2006 = 19 months

1 Jan 2007 to 20 Jan 2007 = 20 days or 0.67 months (i.e. 20 days divided by 30 days)

 

Hence, the total no. of months which the car was registered as an OPC is 19.67 months. The top-up amount to convert the OPC to normal car is calculated as follows:

 

$17,000 x (120 months - 19.67 months) / 120 months = $14,213

 

This top-up amount will be apportioned to the COE and ARF according to the following:

 

COE = $11,000 / $17,000 x $14,213 = $9,197

ARF = $6,000 / $17,000 x $14,213 = $5,016

 

Therefore, when the owner de-registers this car, the COE amount will be $9,197 and the ARF amount will be $19,016 (i.e. $14,000 + $5,016).

 

In summary, this $17K rebate is solely between the car owner and LTA. The bank is not involved here. Accordingly, the existing car loan from the bank remains unchanged. The top-up amount is made payable to LTA and if need be, the car owner will have to take personal loan with the bank to cough out this amount.

[Perrier]

If I want to convert to OPC today.

 

How does it works in terms of dollars and cents?

 

Does LTA rebate you the whatever OPC rebate that you are entitle while you maintain the monthly installment with the bank?

 

I based my assumption on your statement that OPC rebate is between car owner and LTA.

 

Thanks.

[Scenic98]

was toying with the idea of converting to a opc too. but the following link made me give up the idea

 

https://vrl.lta.gov.sg/lta/vrl/action/pubfu...D=EnquireCnvFee