Car scrap & body value

[MotoristMel]

Hi my car is left with 3mths.

 

May i know if i scrap my car now, do i need to pay for all the loan first b4 i do it or i can scrap already then settle the remaining loan? 

 

Anyone can recomend where to scrap?

 

Hi ljuzjoin,

 

By law, your vehicle is required to be cleared of all financial obligations before it can be deregistered or scrapped. Meaning, all outstanding loans have to be paid up before the scrap or reregistration process can take place.

 

If you still have outstanding loans when your car's COE is expiring, there is a way to pay less or even not having to fork up extra cash from your own pocket. You can look for dealers or scrapyards who are willing to pay you the PARF and COE rebates upfront, so you can use them to settle the loans. The rebates are more than enough to clear the loans in most cases. 

 

If you scrap your car through the conventional methods, you will need to pay up the loan in cash first as LTA will usually only refund you the rebates about 3 weeks later. 

 

Have dropped you a pm to recommend you how to find dealers who can pay you the rebates up front :)

[cmcex]

 

Hi ljuzjoin,

 

By law, your vehicle is required to be cleared of all financial obligations before it can be deregistered or scrapped. Meaning, all outstanding loans have to be paid up before the scrap or reregistration process can take place.

 

If you still have outstanding loans when your car's COE is expiring, there is a way to pay less or even not having to fork up extra cash from your own pocket. You can look for dealers or scrapyards who are willing to pay you the PARF and COE rebates upfront, so you can use them to settle the loans. The rebates are more than enough to clear the loans in most cases. 

 

Are you sure about what you are saying? Paying PARF and COE upfront to seller and then ask seller to go full settle? Don't mislead people lah. Why not you pay the COE and PARF upfront to me first then i dereg my vehicle? Of cos i will pass you the physical car first, deal?

 

If you scrap your car through the conventional methods, you will need to pay up the loan in cash first as LTA will usually only refund you the rebates about 3 weeks later. 

 

Have dropped you a pm to recommend you how to find dealers who can pay you the rebates up front :)

 

 

Hey, you are from the website called motorist is it.

 

Dont even know the procedures wanna advise people here?

There are basically 3 main things you can do when your car's COE is expiring soon.

 

You can either scrap it directly with a scrapyard, sell it to an exporter to export overseas, or sell it to a dealer who will renew the COE for resale. If your car's COE still has more than 6 months left, there is even a 4th option in the recent years, as some rental companies may buy your car to rent it to Uber/Grab drivers. 

 

Of course, scrapping directly fetches you the lowest $$$ compared to all the other options, as the scrapyard will most likely offer you a few hundreds for the scrap metal. However, finding the exporter, or dealer who is willing to renew your car's COE and resell it, is a combination of timing and luck. The only way, is to reach out to as many exporters/dealers out there, and hope that they are looking for your car make and model, at that point of time. But the $$$ difference can potentially be $1000-$2000 difference and may be worth your time if you are free. :)

 

Reach to as many exporters/dealers out there? How? Using "Motorist" web portal is it?

 

You want to PM the link to whoever that PM you???

 

Wonder if the moderator allows.... Is this called advertising?

Edited September 27, 2017 by cmcex

[MotoristMel]

Hey, you are from the website called motorist is it.

 

Dont even know the procedures wanna advise people here?

 

Reach to as many exporters/dealers out there? How? Using "Motorist" web portal is it?

 

You want to PM the link to whoever that PM you???

 

Wonder if the moderator allows.... Is this called advertising?

 

Hi cmcex,

 

So far what I am doing is just sharing information, I haven't pasted any link on the thread to direct anyone to go to any websites. I haven't received anything regarding abuse from moderators either.   

 

My information isn't wrong as well. There are dealers who can settle the loan for you with your PARF and COE rebates and then pass you the remaining amount if there is still any left, when they purchase your car. You don't know doesn't mean it doesn't exist. 

[cmcex]

Hi cmcex,

 

So far what I am doing is just sharing information, I haven't pasted any link on the thread to direct anyone to go to any websites. I haven't received anything regarding abuse from moderators either.   

 

My information isn't wrong as well. There are dealers who can settle the loan for you with your PARF and COE rebates and then pass you the remaining amount if there is still any left, when they purchase your car. You don't know doesn't mean it doesn't exist. 

 

So now u change your statement to "dealers settle you loan" 

 

initially you said dealer/exporter pay you to settle your loan. 

 

I know and i know it very well as its my daily job, all i am saying is if you want to share information, make sure its correct.

 

For those who send me "dislikes" thanks, anyway these point wont be changed to cash, if you get my drift

Anyone has Altis 2nd Generation with chassis "ZEE" wanna sell or scrap?

 

I buy the body at $2200 - $2500 for immediate handover, my container is waiting to load.

 

residual paper value paid on the spot in cash.

 

SMS: 9-7-7-41.1.5.7

 

[MotoristMel]

So now u change your statement to "dealers settle you loan" 

 

initially you said dealer/exporter pay you to settle your loan. 

 

I know and i know it very well as its my daily job, all i am saying is if you want to share information, make sure its correct.

 

For those who send me "dislikes" thanks, anyway these point wont be changed to cash, if you get my drift

Anyone has Altis 2nd Generation with chassis "ZEE" wanna sell or scrap?

 

I buy the body at $2200 - $2500 for immediate handover, my container is waiting to load.

 

residual paper value paid on the spot in cash.

 

SMS: 9-7-7-41.1.5.7

 

Nope, I am not changing my statement. I didn't state that "the dealer/exporter pay you to settle your loan". I stated that the dealer/exporter can "pay you the PARF/COE rebates upfront, so you can use them to settle your loans". Anyway, I'm not interested to debate with you any further, as I know my information is correct. 

 

Just sharing what I know to the bros who asked previously.

[cmcex]

Nope, I am not changing my statement. I didn't state that "the dealer/exporter pay you to settle your loan". I stated that the dealer/exporter can "pay you the PARF/COE rebates upfront, so you can use them to settle your loans". Anyway, I'm not interested to debate with you any further, as I know my information is correct. 

 

Just sharing what I know to the bros who asked previously.

 

1. Dealer/Exporter pay you the PARF/COE rebates upfront, so you can use them to settle your loans 

 

2. Dealer/Exporter pay you to settle your loan

 

 

I am sure i didnt fail my comprehension then in school. 

[Galantspeedz]

1. Dealer/Exporter pay you the PARF/COE rebates upfront, so you can use them to settle your loans 

 

2. Dealer/Exporter pay you to settle your loan

 

 

I am sure i didnt fail my comprehension then in school. 

 

although what @motoristmel say may or may not be correct but there is still a difference between the 2 sentences...

 

aside from that, if motoristmel is deemed to be advertising then so are you..... agree?

[ianest]

Hi guys,

 

Got a BMW 730Li due for scrap / export end Oct 2017.

Anybody any idea how much it's likely worth?

 

Thanks in advance.

 

 

Edited September 28, 2017 by ianest

[cmcex]

although what @motoristmel say may or may not be correct but there is still a difference between the 2 sentences...

 

aside from that, if motoristmel is deemed to be advertising then so are you..... agree?

 

I am, no questions about it. I am not ashamed of it. I dont need to act like I am not.

 

Directly i show it, not like some has to do an "advertorial" to cover up... looks like sharing info but it isnt.

 

I share info and I do deal with quite alot of car owners here as well.

 

 

Oh ya by the way, Altis with "ZEE" chassis, price just went up to $2800 for superb condition with immediate handover

Edited September 28, 2017 by cmcex

[Galantspeedz]

I am, no questions about it. I am not ashamed of it. I dont need to act like I am not.

 

Directly i show it, not like some has to do an "advertorial" to cover up... looks like sharing info but it isnt.

 

I share info and I do deal with quite alot of car owners here as well.

 

 

Oh ya by the way, Altis with "ZEE" chassis, price just went up to $2800 for superb condition with immediate handover

 

advertising is advertising, cover or no cover up.... as long as it benefits the community as a whole, i don't think it is anything bad

 

i am sure you deal with a lot of owners here as you mentioned and maybe your online persona is different from offline but i think some of your replies will put some people off... at least i am one of them.... good luck for your business though...

 

cheers

[cmcex]

advertising is advertising, cover or no cover up.... as long as it benefits the community as a whole, i don't think it is anything bad

 

i am sure you deal with a lot of owners here as you mentioned and maybe your online persona is different from offline but i think some of your replies will put some people off... at least i am one of them.... good luck for your business though...

 

cheers

 

Thanks for the honest opinions, I like honest opinions. 

 

I am sorry if my replies put you off, i take feed backs positively whether good or bad. 

 

As for my business, thank you for the well wishes. 

 

Cheers :)

 

* for those who deduct the points off me and do not leave names, try harder I am least affected

[MyCarMykar]

all the kor kor can help didi understand, me noob here.

 

cause father in law dont want use the car liao, me take over to use nia, but curious how to know the body value ? 

[Sunnyday888]

Morning all.

 

Will be scraping my axio in nov.

Any idea how mucg it is worth?

[cmcex]

Morning all.

 

Will be scraping my axio in nov.

Any idea how mucg it is worth?

 

1100 - 1200 subjective to car condition

[Sunnyday888]

ok tys. any idea who i can send to?

[KKlim99X]

1100 - 1200 subjective to car condition

Hw abt cl7a scrap in dec?

Ani idea?

[cmcex]

Hw abt cl7a scrap in dec?

Ani idea?

 

 

600-700 subject to car condition

ok tys. any idea who i can send to?

 

LOL.

 

You can send to me :)

[MyCarMykar]

nice read