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Dilemma

Converting normal plate to OPC scheme

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I'm thinking of converting my 2 year old car to OPC.

Noted on LTA website that there will be a rebate of $1100 every 6 months.

Lets say i convert my car on the 2 year mark. Will i be getting $1100 for every 6 months of driving or will i be rebated the 8 x $1100 directly? 

If that is the case, will i get $17600 back? which is more than the 17K??

Tried searching but was not able to find the information. 

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Every 6 mths, ah gong will send u a cheque for $1100

 

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14 minutes ago, Soya said:

Every 6 mths, ah gong will send u a cheque for $1100

 

so lets say i drive 8 years of OPC. means ah gong will send me $1100 x 16 times? Or theres a cap?

 

Sorry as all these info cannot be found leh.

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13 minutes ago, Dilemma said:

so lets say i drive 8 years of OPC. means ah gong will send me $1100 x 16 times? Or theres a cap?

 

Sorry as all these info cannot be found leh.

U will get the $1100 every 6 mths as long as it stays as an OPC. Even if u convert back to normal car and haven't reach the full 6 mths of that period, u will get a prorated amount 

 

 

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2 hours ago, Dilemma said:

so lets say i drive 8 years of OPC. means ah gong will send me $1100 x 16 times? Or theres a cap?

 

Sorry as all these info cannot be found leh.

There is no cap.

I also find it strange that if u register as off peak car from day 1 it's upfront $17k off but doing it this way u could possibly get close to $22k off but confirm this is the rule as I know of someone who has been getting $1.1k every 6 mths for quite some time already.

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28 minutes ago, Spring said:

There is no cap.

I also find it strange that if u register as off peak car from day 1 it's upfront $17k off but doing it this way u could possibly get close to $22k off but confirm this is the rule as I know of someone who has been getting $1.1k every 6 mths for quite some time already.

extra 5k to account for compounded interest. not sure why at around 2.6%.

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27 minutes ago, Mkl22 said:

extra 5k to account for compounded interest. not sure why at around 2.6%.

Since when LTA so good as to pay compound interest[:)]

To be fair, owner made decision to get normal car; shld he decide later to convert to OPC or he sells it to next owner who decides to convert to OPC, then owner shld just get back their money and not expect compound interest to be paid.

Having said that, think LTA wants to encourage OPC rather than normal car so this could be an incentive to do so.

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Wow..this info is new to me. 

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1 hour ago, Mkl22 said:

extra 5k to account for compounded interest. not sure why at around 2.6%.

 

39 minutes ago, Spring said:

Since when LTA so good as to pay compound interest[:)]

To be fair, owner made decision to get normal car; shld he decide later to convert to OPC or he sells it to next owner who decides to convert to OPC, then owner shld just get back their money and not expect compound interest to be paid.

Having said that, think LTA wants to encourage OPC rather than normal car so this could be an incentive to do so.

 

1 hour ago, Spring said:

There is no cap.

I also find it strange that if u register as off peak car from day 1 it's upfront $17k off but doing it this way u could possibly get close to $22k off but confirm this is the rule as I know of someone who has been getting $1.1k every 6 mths for quite some time already.

Thanks for the info. Good to hear that. 

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If anyone want to make money and drive OPC.

Buy normal plate and on day 1 convert to OPC.

You pay $17k up front but will get $22k back.

Good deal.

:grin:

Or you buy OPC and save the $17k

Can get me to invest the $17k for you

and you will get back more than $22k

in 10 years time.

If you can still find me.

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11 hours ago, Dilemma said:

I'm thinking of converting my 2 year old car to OPC.

Noted on LTA website that there will be a rebate of $1100 every 6 months.

Lets say i convert my car on the 2 year mark. Will i be getting $1100 for every 6 months of driving or will i be rebated the 8 x $1100 directly? 

If that is the case, will i get $17600 back? which is more than the 17K??

Tried searching but was not able to find the information. 

I wouldn't accept  8 x $1100 directly.

its  16 x $1100  or  8 x $2200.

Don't get short changed.

:grin:

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someone had asked LTA (from hwz)

Converting Normal Car to OPC

".....Why $1.1k/6months or $22k/10years rebate is given, instead of $17k. This I've asked LTA before, and they explained that the 6 monthly rebate factors in "inflation", so they rebate slightly high....."

I have another question. Can the converted ROPC convert back to normal car? If cannot, does that mean future rebate will go to future owner?

 

 

Edited by Jp66

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44 minutes ago, Jp66 said:

someone had asked LTA (from hwz)

Converting Normal Car to OPC

".....Why $1.1k/6months or $22k/10years rebate is given, instead of $17k. This I've asked LTA before, and they explained that the 6 monthly rebate factors in "inflation", so they rebate slightly high....."

I have another question. Can the converted ROPC convert back to normal car? If cannot, does that mean future rebate will go to future owner?

 

 

You can convert Back and forth as many times as you wish. Just need to pay $100 for each conversion.
for the seals and inspection if from normal to opc. 

for opc to normal, top up of the roadtax. 

Edited by Mkl22
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And there is the annual $500 rd tax rebate.

But troublesome to send for number plate seal check annually.

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The workshop will also drill a hole through your car boot and front bumper to add the security pin. Ouch! 😫

IMG_20181103_100048.jpg

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13 hours ago, Jamesc said:

If anyone want to make money and drive OPC.

Buy normal plate and on day 1 convert to OPC.

You pay $17k up front but will get $22k back.

Good deal.

:grin:

Or you buy OPC and save the $17k

Can get me to invest the $17k for you

and you will get back more than $22k

in 10 years time.

If you can still find me.

So good deal u gotta say it twice....lol

So buy 1 normal car, convert to OPC make $5k in 10 yrs

If buy 2 normal cars to convert, make $10k

Let's buy 100 and make $1M!

Huat ar!

😁😁

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Any recomend

On 2/25/2020 at 12:19 AM, Vinceng said:

The workshop will also drill a hole through your car boot and front bumper to add the security pin. Ouch! 😫

IMG_20181103_100048.jpg

Is it a one stop workshop where they will make the carplate, install it with the seal?

 

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If a normal car with renewed coe convert to OPC, will get the same rebate?

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