flashbang Turbocharged January 8, 2017 Share January 8, 2017 CEVS is really quite sneaky. When you get a rebate, you supposedly pay lesser for the car. However govt takes back part of your savings by reducing your PARF by 50% of your CEVS rebate. In actual fact your rebate ends up halved. To be fair, CEVS should be implemented by itself, without affecting anything else. If car price is 100k and ARF is 20k, a car with 10k CEVS rebate should sell for 90k with ARF 20k, and a car with 10k CEVS surcharge should sell for 110k with ARF 20k also. That makes the difference in cost 20k, which is the true difference due to CEVS. Under current system, it would end up as 90k with ARF 10K, and 110k with ARF 20k. Difference in cost after 10 years becomes 20k - 5k = 15k. ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Theoldjaffa Hypersonic January 8, 2017 Share January 8, 2017 Ass U me It is waste of time to compute all this unless there is a way to beat the system. Talking about mechanics, not how much we need to fork out to pay. We can't beat the system, but we can do our best to make an informed choice by understanding how the system works. CEVS is really quite sneaky. When you get a rebate, you supposedly pay lesser for the car. However govt takes back part of your savings by reducing your PARF by 50% of your CEVS rebate. In actual fact your rebate ends up halved. To be fair, CEVS should be implemented by itself, without affecting anything else. If car price is 100k and ARF is 20k, a car with 10k CEVS rebate should sell for 90k with ARF 20k, and a car with 10k CEVS surcharge should sell for 110k with ARF 20k also. That makes the difference in cost 20k, which is the true difference due to CEVS. Under current system, it would end up as 90k with ARF 10K, and 110k with ARF 20k. Difference in cost after 10 years becomes 20k - 5k = 15k. Aiyo.......... Rebate is given out in full upfront and is not taken back from us. But yes we don't pay less for the car. That's correct. Link to post Share on other sites More sharing options...
inlinesix Hypersonic January 8, 2017 Share January 8, 2017 Talking about mechanics, not how much we need to fork out to pay. We can't beat the system, but we can do our best to make an informed choice by understanding how the system works. The car scene in Singapore already very boring. How informed could those choices to be? 1 Link to post Share on other sites More sharing options...
Wt_know Hypersonic January 8, 2017 Share January 8, 2017 (edited) whatever it is ... the rule is made to suit dealer, bank and govt the rule is never meant to reduce car price for buyer govt position is very clear ... make car expensive! so just suck thumb if want to buy car in spore calculate until cows come home also no use no matter how you calculate ... the dealer is laughing to bank when demand > supply ... there is always another guy willing to pay higher Edited January 8, 2017 by Wt_know 2 Link to post Share on other sites More sharing options...
therock Supersonic January 8, 2017 Share January 8, 2017 CEVS is really quite sneaky. When you get a rebate, you supposedly pay lesser for the car. However govt takes back part of your savings by reducing your PARF by 50% of your CEVS rebate. In actual fact your rebate ends up halved. To be fair, CEVS should be implemented by itself, without affecting anything else. If car price is 100k and ARF is 20k, a car with 10k CEVS rebate should sell for 90k with ARF 20k, and a car with 10k CEVS surcharge should sell for 110k with ARF 20k also. That makes the difference in cost 20k, which is the true difference due to CEVS. Under current system, it would end up as 90k with ARF 10K, and 110k with ARF 20k. Difference in cost after 10 years becomes 20k - 5k = 15k. So trueI felt sad initially when the cevs dropped on a few cars I was looking at. But I realized the prices didn't change and I actually gained 5k! Link to post Share on other sites More sharing options...
inlinesix Hypersonic January 8, 2017 Share January 8, 2017 CEVS is really quite sneaky. When you get a rebate, you supposedly pay lesser for the car. However govt takes back part of your savings by reducing your PARF by 50% of your CEVS rebate. In actual fact your rebate ends up halved. To be fair, CEVS should be implemented by itself, without affecting anything else. If car price is 100k and ARF is 20k, a car with 10k CEVS rebate should sell for 90k with ARF 20k, and a car with 10k CEVS surcharge should sell for 110k with ARF 20k also. That makes the difference in cost 20k, which is the true difference due to CEVS. Under current system, it would end up as 90k with ARF 10K, and 110k with ARF 20k. Difference in cost after 10 years becomes 20k - 5k = 15k. From LTA POV, CEV rebate has to be offset against either COE or ARF paid to LTA (not car dealer). With your suggestion, what does it offset against? Anyway, you will not know whether CEV rebate has been included in the price you paid. whatever it is ... the rule is made to suit dealer, bank and govt the rule is never meant to reduce car price for buyer govt position is very clear ... make car expensive! so just suck thumb if want to buy car in spore calculate until cows come home also no use no matter how you calculate ... the dealer is laughing to bank when demand > supply ... there is always another guy willing to pay higher That's why go & compute how much margin each dealer fleeced from us is useless. It is as if we could buy the car cheaper thru self import. 1 Link to post Share on other sites More sharing options...
flashbang Turbocharged January 8, 2017 Share January 8, 2017 From LTA POV, CEV rebate has to be offset against either COE or ARF paid to LTA (not car dealer). With your suggestion, what does it offset against? Anyway, you will not know whether CEV rebate has been included in the price you paid. That's why go & compute how much margin each dealer fleeced from us is useless. It is as if we could buy the car cheaper thru self import. In the interest of fairness (if there is even such a thing when the govt is involved), they should not affect the PARF after 10 years. Since it has to be deducted from somewhere, it could continue to be deducted from ARF, yet still calculate the PARF based on original ARF. But I can see why it's simpler to cut out all this and outright deduct from ARF, then use the new value to calculate PARF. Would like to throw in a 70% joke but after so many years it's no longer funny but harsh reality Link to post Share on other sites More sharing options...
inlinesix Hypersonic January 8, 2017 Share January 8, 2017 In the interest of fairness (if there is even such a thing when the govt is involved), they should not affect the PARF after 10 years. Since it has to be deducted from somewhere, it could continue to be deducted from ARF, yet still calculate the PARF based on original ARF. But I can see why it's simpler to cut out all this and outright deduct from ARF, then use the new value to calculate PARF. Would like to throw in a 70% joke but after so many years it's no longer funny but harsh reality Your paid ARF is after CEV rebate. You are asking PARF based on ARF before CEV rebate. Are you joking????? Link to post Share on other sites More sharing options...
Blueray Hypersonic January 8, 2017 Share January 8, 2017 For transparency on this CEVS rebate, it should be a cheque direct from LTA, not blended into the selling price of the car. 5 Link to post Share on other sites More sharing options...
Wt_know Hypersonic January 8, 2017 Share January 8, 2017 For transparency on this CEVS rebate, it should be a cheque direct from LTA, not blended into the selling price of the car.like saying COE should be paid to LTA directly and not let dealer "hide" together with car price as part of their profit margin ... muahahaha 1 Link to post Share on other sites More sharing options...
Theoldjaffa Hypersonic January 8, 2017 Share January 8, 2017 The car scene in Singapore already very boring. How informed could those choices to be?For me to know, for you to find out Link to post Share on other sites More sharing options...
Eyke Supercharged January 8, 2017 Share January 8, 2017 From LTA POV, CEV rebate has to be offset against either COE or ARF paid to LTA (not car dealer). With your suggestion, what does it offset against? Anyway, you will not know whether CEV rebate has been included in the price you paid. That's why go & compute how much margin each dealer fleeced from us is useless. It is as if we could buy the car cheaper thru self import. useless? paying for higher margin goods means u pay more at end of day, ie. higher depreciation. lower depreciation -> cheaper Link to post Share on other sites More sharing options...
inlinesix Hypersonic January 8, 2017 Share January 8, 2017 useless? paying for higher margin goods means u pay more at end of day, ie. higher depreciation. lower depreciation -> cheaper Similar spec cars btw diff brand can hav 10k diff meh? Link to post Share on other sites More sharing options...
Othello Supersonic January 16, 2017 Share January 16, 2017 wah, this thread i read till ok, simple layman question. OMV $15,000 CEVS $10,000 How much do I get when I drive full 10 years & scrap ? KUM SIA 1 Link to post Share on other sites More sharing options...
therock Supersonic January 16, 2017 Share January 16, 2017 (edited) wah, this thread i read till ok, simple layman question. OMV $15,000 CEVS $10,000 How much do I get when I drive full 10 years & scrap ? KUM SIA Peanuts... enough for you to have a bowl of wanton.. Or 0.5 X ARF = 0.5 * 5k.. whichever is higher Edited January 16, 2017 by therock Link to post Share on other sites More sharing options...
Theoldjaffa Hypersonic January 16, 2017 Share January 16, 2017 wah, this thread i read till ok, simple layman question. OMV $15,000 CEVS $10,000 How much do I get when I drive full 10 years & scrap ? KUM SIA I take it that the CEVS is 10k rebate. In this case, since OMV is less than 20k, ARF is 100% of OMV = $15000. 10k rebate on ARF = nett $5k ARF paid. PARF is 50% of ARF paid (end of 10 years) = $2.5k 1 Link to post Share on other sites More sharing options...
Othello Supersonic January 16, 2017 Share January 16, 2017 I take it that the CEVS is 10k rebate. In this case, since OMV is less than 20k, ARF is 100% of OMV = $15000. 10k rebate on ARF = nett $5k ARF paid. PARF is 50% of ARF paid (end of 10 years) = $2.5k ok thanks 1 Link to post Share on other sites More sharing options...
therock Supersonic January 16, 2017 Share January 16, 2017 (edited) https://www.onemotoring.com.sg/content/onemotoring/en/lta_information_guidelines/de_register_a_vehicle/PARF_COE_Rebates.html Preferential Additional Registration Fee (PARF) Rebate The PARF rebate is computed based on the age of the car at deregistration. The age of the car is computed from the date of its registration (locally or overseas, whichever is earlier). The table below list the applicable PARF rebate based on the age of the car at deregistration: Age at Deregistration PARF Rebate Not exceeding 5 years 75% of ARF paid Above 5 but not exceeding 6 years 70% of ARF paid Above 6 but not exceeding 7 years 65% of ARF paid Above 7 but not exceeding 8 years 60% of ARF paid Above 8 but not exceeding 9 years 55% of ARF paid Above 9 but not exceeding 10 years 50% of ARF paid Above 10 years Nil Edited January 16, 2017 by therock ↡ Advertisement Link to post Share on other sites More sharing options...
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