2% off PARF Rebate for Export Company

[Optix]

Hi guys,

 

Just a sharing and an enquiry.

 

Was at Automobile Mart over the weekend to check out some resale vehicles. Spotted a new C Class and inquired about the price and trade in package. The sales rep took my details and came back with my PARF rebate. Was told by him that if i was to trade in my Mini, his exporter will change 2% of the PARF rebate value.

 

This is the first time i heard of this and so my question is: is this a market trick or is this a norm?

Edited November 10, 2008 by Optix

[Vtim]

this is normal to charge 2% of the PARF, unless you know the dealer very well then he may wave off the 2%

[Akula]

Think its a std industry practice. Can bargain it away or walk away from the deal.

[Antirobo]

Hi Bro,

The other alternative is to scrap the car yourself and get cash from LTA direct

Bros, correct me if i'm wrong ya

[Victorco]

u can scrap and ask for $ refund from LTA instead of paper.

[Hcblue99]

Be prepare to pay the bank cash to settle your balance loan.

[Mcf777]

1 question.

 

If i were to scrap the car at LTA myself (after 10yrs of COE), can i know after scrapping the car, where shall i send the vehicle to?

[Victorco]

there are a few appointed scrapyard by LTA it stated on their website.

they will be able to process the vehicle.

 

at most u get back a few hundred for the rate now. as metal and the econ have create a big impact in body pricing. but also depend on the model and make

[Victorco]

even u dun take cash u also need to pay back bank loan if there is any in cash.

Parf paper is not accepted by banks. only car dealers and agents will take but at a fee.

that why now gov allow cash rebate instead of a piece of paper that cause problem later on.

[Mcf777]

thanks

[Nine_eleven]

now u can encash the parf paper for money, but i think u can only receive the cash about one month later.

 

so if u can plan accordingly, u can ask the dealer to return the parf documents to u, and u can claim back from LTA youself saving that 2%.

 

it would be worthwhile if your car has a high paper value.

[Lendevear]

Hi guys,

 

Just a sharing and an enquiry.

 

Was at Automobile Mart over the weekend to check out some resale vehicles. Spotted a new C Class and inquired about the price and trade in package. The sales rep took my details and came back with my PARF rebate. Was told by him that if i was to trade in my Mini, his exporter will change 2% of the PARF rebate value.

 

This is the first time i heard of this and so my question is: is this a market trick or is this a norm?

 

Last time there is such a practice because PARF can only be used to offset new car price and can only be sold as vouchers. Hence there is a 2-5% charge.

 

After the implementation of cash rebate, you can just go to LTA and ask for a refund for paper upon deregistration.

 

Now they are still charging you a discount rate and earn a blatant abitrage?!!

 

Ask him to f off.

[Optix]

Indeed, 2% of the PARF rebate is actually quite a large sum. Rather than let the dealers earn the money, it is only wise to run the errands myself to pocket the cash rebate by scrapping the car on my own.

 

Hopefully this will raise the awareness among those trading in their cars.

[Civicblade]

Hi All,

 

What is the procedure for de-registering and getting cash from LTA?

 

Do we need to bring the car to an exporter or the scrap yard first? Do we need a document that shows the car has been exported or scrapped before we can submit application for cash rebate fro LTA?

 

Or do we go to LTA first to apply for rebate, then state a future date whereby the car will be exported or scrapped?

 

Any recommendation for exporter? A 4 year old car can still command export value if we sell the body to the exporter? What about selling to a scrap yard? Any residue value?

 

thanks all in advance for the information.

Edited November 10, 2008 by Civicblade

[Victorco]

DIY scrapping is not that easy unless u have experience before.

cos going to LTA is some how a problem cos we dun really understand what they really talk about.

 

like me today retaining my car plate i need to pay upfront 1.3K instead of the 100 normally cos i will be still driving my current car till i get my new. only after i register my new car then LTA will refund me my 1.2k extra ONE MONTH LATER. image the amt of int bank will be paying LTA for that. in my account at most few cents but gov account with that huge amt.

 

unless u can find some oversea importer that wan your car make and mode then u may consider if the price offer is a lot higher after lessening all the freight charges and misc charges. else i rather u scrap with the scrapyard and tell them/LTA u wanna to encash the parf paper.

[Victorco]

u need to apply for a temporary PIN from LTA then proceed to scrap your car online. then after that u tow your vehicle and bring the paper work to the appointed few scrapyard.

 

reminder it's illegal to drive your vehicle after u have successfully scrap your car online.

jail and fine penalty if caught. army rules apply.

 

follow is the link for all the step by step

 

http://www.onemotoring.com.sg/publish/onem...e-register.html

 

like i said before. unless u get very good pricing by DIYing yourself if not let the "PRO" do it. save the hassle and time running all over the place jus to get rid of want unwanted anymore.

[Vtim]

1 question.

 

If i were to scrap the car at LTA myself (after 10yrs of COE), can i know after scrapping the car, where shall i send the vehicle to?

if you are AA member, they can do it for you at no charge, IIRC

[Cleefho]

not worth the 2% save. I rather let the car dealer do it. no need to come up the cash to full redeem the car and no need to go LTA. furthermore dun forget you still need to find an exporter to buy your body, if not the rebate from LTA is only COE + PARF only