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Renew COE for OPC


Pelican
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I've read from onemotoring, when OPC COE expire, it has to renew COE at normal car plate price but still remain OPC.

 

After renew COE at normal price, isnt it more worth it to convert back to black plate car? The road tax rebate does not worth the cost of normal price coe.

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isn't COE the same regardless of the car being OPC or black plate? It's only pegged to the engine capacity right?

 

From my understanding, you should be able to covert to black plate after 10 years since the $17k rebate is only good for 10 years. Probably just need to pay some conversion fee.

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Neutral Newbie

I've read from onemotoring, when OPC COE expire, it has to renew COE at normal car plate price but still remain OPC.

 

After renew COE at normal price, isnt it more worth it to convert back to black plate car? The road tax rebate does not worth the cost of normal price coe.

 

 

just a curious question. I have heard from some of my friends that OPC after 10 yrs don't have PARF when scrap. is it true? it is it still same like normal cars that get 55% of the OMV?

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once your renew the COE of an OPC, it becomes a normal plate car. if you choose to convert it to OPC, there's no rebate, only road tax incentives.

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once your renew the COE of an OPC, it becomes a normal plate car. if you choose to convert it to OPC, there's no rebate, only road tax incentives.

OPC car remains as OPC after COE renewal.

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just a curious question. I have heard from some of my friends that OPC after 10 yrs don't have PARF when scrap. is it true? it is it still same like normal cars that get 55% of the OMV?

 

Scrap value of OPC car after 10 years = 55% OMV - $17K.

 

So if your car's 55% OMV is =< $17K, then zero value scrap lor.

 

For larger cars, there will be some residual, after the $17K netoff.

 

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Scrap value of OPC car after 10 years = 55% OMV - $17K.

 

So if your car's 55% OMV is =< $17K, then zero value scrap lor.

 

For larger cars, there will be some residual, after the $17K netoff.

 

 

No. It's wrong.

 

I am using iPhone to type so it's tough to explain. Will do it at home

 

Give u one example,

If the Coe for the car was 17k and used to net off fully from the opc rebates, then the Opc car will still be eligible for full parf rebate at the 10th year.

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Scrap value of OPC car after 10 years = 55% OMV - $17K.

 

So if your car's 55% OMV is =< $17K, then zero value scrap lor.

 

For larger cars, there will be some residual, after the $17K netoff.

 

completely rubbish!

the 17k is offset from your COE price not your OMV/PARF

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completely rubbish!

the 17k is offset from your COE price not your OMV/PARF

 

That's not entirely true. The 17K is used to offset the COE first, any remaining amount will be used to offset the ARF. It's just that because COEs nowadays are so high, the 17k will be fully utilised to offset the COE.

Edited by Jtay
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Neutral Newbie

Scrap value of OPC car after 10 years = 55% OMV - $17K.

 

So if your car's 55% OMV is =< $17K, then zero value scrap lor.

 

For larger cars, there will be some residual, after the $17K netoff.

 

 

i believe only 55% OMV. no need -$17k

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completely rubbish!

the 17k is offset from your COE price not your OMV/PARF

 

How wrong you are!

Its $17K net off from COE and OMV (if COE is < $17K).

 

If say you got a $1 COE and the car's OMV is $11K.

On its 10th year, the OPC will be worth nothing. Zero.

 

You will still get zero value on 10th year, if the OPC's COE was $6K and OMV was $11K.

Edited by W210k
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After 10th year still got PARF?

 

Depends on how much you paid in the first place.

 

For a normal car just before it's 10th year, the parf rebate is 50% of ARF.

 

But if your car is OPC, then it's the lower of the following two:-

1. 50% of ARF

2. What you actually paid as ARF during registration

 

For my case, I bought my car 2 years ago when COE was low. So the 17K rebate actually covered both my COE and ARF fully. So in my case I wouldn't have any parf rebate at the end of 10 years.

 

 

 

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How wrong you are!

Its $17K net off from COE and OMV (if COE is < $17K).

 

If say you got a $1 COE and the car's OMV is $11K.

On its 10th year, the OPC will be worth nothing. Zero.

 

You will still get zero value on 10th year, if the OPC's COE was $6K and OMV was $11K.

 

it's actually COE + ARF. It's just that the ARF = OMV, so your calculation still works out right =)

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Depends on how much you paid in the first place.

 

For a normal car just before it's 10th year, the parf rebate is 50% of ARF.

 

But if your car is OPC, then it's the lower of the following two:-

1. 50% of ARF

2. What you actually paid as ARF during registration

 

For my case, I bought my car 2 years ago when COE was low. So the 17K rebate actually covered both my COE and ARF fully. So in my case I wouldn't have any parf rebate at the end of 10 years.

 

Yes you are right.

For your case, you would end up with zero value on 10th year for an OPC.

 

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That's not entirely true. The 17K is used to offset the COE first, any remaining amount will be used to offset the ARF. It's just that because COEs nowadays are so high, the 17k will be fully utilised to offset the COE.

 

historically COEs have always hovered > 17k

if the COE was significantly below 17k the dealer would have advised you to switch to normal plate or you would have so much savings that you might decide to purchase a different car (eg the $2 COE period)

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