Calculating Scrap Value of Vehicle - Help

[Kazuya]

Dear All,

 

Say I purchase a Hybrid vehicle with OMV of $22,000 and CEVS rebate of $15.000. What would the scrap value of my car be? 

 

Thanks.

[Lotr]

Dear All,

 

Say I purchase a Hybrid vehicle with OMV of $22,000 and CEVS rebate of $15.000. What would the scrap value of my car be? 

 

Thanks.

iirc,

 

scrap is remaining coe + parf rebate

 

remaining coe is quite easy to calculate, just a linear depreciation over 10 years

 

parf rebate is based on a certain percentage of arf and reduces in a stepwise manner.  arf is 110% of omv (if omv<20k, if >20k, arf will be higher), and since you have CEVS rebate, your arf will be reduced by the rebate.  You can see the detailed figures in lta website

[Kazuya]

Found an article in onemotoring that explains everything. Thanks!

Edited February 13, 2016 by Kazuya

[Mkl22]

Answer is $3900

[Kazuya]

I thought it should be $3500?

 

22,000 - 15,000 = $7000 (After factoring in cevs rebate)

7000 / 2 = $3500

[Zeally]

I thought it should be $3500?

 

22,000 - 15,000 = $7000 (After factoring in cevs rebate)

7000 / 2 = $3500

Above 20k. Arf is 140%. So parf is (22000*1.4-15000)/2

[Carbon82]

OMV => $22K

ARF => $7.8K (100% on 1st $20K + 140% for $2K - $15K CEVS)

PARF => $3.4K (50% of ARF)