Any restriction to have 2nd car with same name?

[Plusnplus]

Hi all,

anyone know is there any restriction to have 2nd car with same name of 1st car?

example : higher road tax/ insurance/ something else for the 2nd car?

 

thanks for any info/ reply

[Longhorn]

the only restriction i know is that your insurance NCB discount is only applicable to one car. I m not aware of any other restrictions.

[Guyferdleong]

no, still the same... unless you claim from your first veh under your name than the insurance will up also ... having a opc kia and starlet under my name but scrapping my starlet soon as it is giving me problem

[Nostalgia]

Hi all,

anyone know is there any restriction to have 2nd car with same name of 1st car?

example : higher road tax/ insurance/ something else for the 2nd car?

 

thanks for any info/ reply

 

Had my cars registered under different names, as both my wife and I had NCDs that could be carried on to the cars. Even if one of the parties doesn't have an NCD to carry over, he/she will start building up the discount. If you have both cars under one name, you may not be able to have the NCD for both.

 

[Remus383]

Had my cars registered under different names, as both my wife and I had NCDs that could be carried on to the cars. Even if one of the parties doesn't have an NCD to carry over, he/she will start building up the discount. If you have both cars under one name, you may not be able to have the NCD for both.

nope, u can still start to accumulate NCD rom scratch on the 2nd car

[Plusnplus]

Had my cars registered under different names, as both my wife and I had NCDs that could be carried on to the cars. Even if one of the parties doesn't have an NCD to carry over, he/she will start building up the discount. If you have both cars under one name, you may not be able to have the NCD for both.

 

So.., better use different name in term of ncd benefit?

 

 

 

 

[Hamburger]

So.., better use different name in term of ncd benefit?

no diff whether its ur name or other name

[Rainmaker]

sorry to hijack, i have a question too.

 

i am looking to buy a car for my wife who is a foreigner, will there be higher tax or other cost if the car is under her name?

 

thanks.

[Guest EverestLeasing]

So.., better use different name in term of ncd benefit?

 

Assuming you have 1 car now with 50% NCD, and you registered one more under your name, the 2nd car will build up NCD, starting from zero. So end of the 1st year, you will have 50% NCD on your 1st car, and 10% NCD on your 2nd car.

 

If your 2nd car insurance is more expensive than your 1st car, it will make sense to transfer your NCD from the 1st car to the 2nd car to maximise the discount.

 

So to answer your question, if the other person you intend to register under has no NCD, it makes no difference whether you use your name or his/her name.

Edited September 23, 2009 by Da_editor

[Guest EverestLeasing]

sorry to hijack, i have a question too.

 

i am looking to buy a car for my wife who is a foreigner, will there be higher tax or other cost if the car is under her name?

 

thanks.

 

Hiya, for foreigners, there's no extra costs incurred. Only issue is the loan.

 

There are more criteria to be fulfilled for foreigners who want to take loan.

[Longhorn]

so many conflicting info given here.. anyway here is wot i copied from ntuc income:

 

"NO CLAIM DISCOUNT (NCD)

NCD will be given on renewal based on the following scale:

Claim Free Period Discount

1 year 10%

2 years 20%

3 years 30%

4 years 40%

5 years 50% maximum

The NCD will be reduced by 30% for each claim made. If the NCD is 30% or less, the NCD will be reduced to zero. If more than

1 claim is made, the entire NCD is withdrawn irrespective of the percentage earned. If you are involved in an accident where the

third party is at fault, the NCD will not be reduced because of this claim.

NCD applies to you and not to the Insured Vehicle, but if you own more than one vehicle it can only be applied to one policy at a

time. NCD can also be transferred from previous insurer and the actual entitlement is subject to confirmation by them."

 

so those who said NCD can apply to 2 cars, plse provide your evdence...

Edited September 23, 2009 by Longhorn

[Karebu]

is NCD, esp for subsequent cars, transferable? say the second car in the house is under my dad's name. it accumulates 50% NCD. would the NCD then be transferred to me with the change in owner?

[Plusnplus]

Hi Longhorn,

thanks for the info.

it is clear now.

[Guest EverestLeasing]

so many conflicting info given here.. anyway here is wot i copied from ntuc income:

 

"NO CLAIM DISCOUNT (NCD)

NCD will be given on renewal based on the following scale:

Claim Free Period Discount

1 year 10%

2 years 20%

3 years 30%

4 years 40%

5 years 50% maximum

The NCD will be reduced by 30% for each claim made. If the NCD is 30% or less, the NCD will be reduced to zero. If more than

1 claim is made, the entire NCD is withdrawn irrespective of the percentage earned. If you are involved in an accident where the

third party is at fault, the NCD will not be reduced because of this claim.

NCD applies to you and not to the Insured Vehicle, but if you own more than one vehicle it can only be applied to one policy at a

time. NCD can also be transferred from previous insurer and the actual entitlement is subject to confirmation by them."

 

so those who said NCD can apply to 2 cars, plse provide your evdence...

 

My evidence is from my insurance agent.

They say "1 person can have 2 NCD on 2 separate vehicles."

The extract from the NTUC website can probably be intepreted in more ways than one.

Nothing beats clarification over a phone call.

 

 

[Guyferdleong]

2 different ncd for 2 veh but if buang will affect both insurance (hike).. like me NTUC for kia (30%) coe starlet OAC 3 party at (20%) dont ask me why the difference they just tell me I buy 2 veh at different timing???

[Beehive3783]

even information given over the phone might be conflicting. getting it in black and white is better.

[Remus383]

the key phrase "it can only be applied to one policy at a time"...the 2nd car will be under a separate policy!

 

cfm chop chop....i hv 2 cars....

[Guyferdleong]

I just change my starlet insurance as NTUC 3 party exp... tat the NCD 20% diffence to 30% NTUC lol.. still cheaper than NTUC