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28 replies to this topic | 25 praises

#1

Posted 29 November 2017 - 05:21 PM

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Hello all! Recently, we have a downtown line open near our house. And getting to work has been more convenient. Our car usage has dramatically reduced to weekends.
Can I ask the gurus out there, assuming if I change my COE car now to weekend plate, what do I stand to lose when I deregister the car in 10 years?

I am aware there is some benefits
1) $500 rebate on road tax
2) $1.1k rebate every 6 months

Thanks so much!

#2

Posted 29 November 2017 - 05:31 PM

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ur car COE going to up lorry u think still can have 1.1k rebate?

 

Wait long long...


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#3

Posted 29 November 2017 - 05:34 PM

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useless to have a COE cars as a weekend plate. negligible savings



#4

Posted 29 November 2017 - 06:04 PM

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Hello all! Recently, we have a downtown line open near our house. And getting to work has been more convenient. Our car usage has dramatically reduced to weekends.
Can I ask the gurus out there, assuming if I change my COE car now to weekend plate, what do I stand to lose when I deregister the car in 10 years?

I am aware there is some benefits
1) $500 rebate on road tax
2) $1.1k rebate every 6 months

Thanks so much!

 

I do not think u can convert a COE car to OPC.


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#5

Posted 29 November 2017 - 07:01 PM

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I do not think u can convert a COE car to OPC.

Depends how old it is.


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#6

Posted 29 November 2017 - 07:07 PM

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just leave it as it is, so as to maintain flexibility of using the car on non-OPC timings. 


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#7

Posted 29 November 2017 - 07:16 PM

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Hello all! Recently, we have a downtown line open near our house. And getting to work has been more convenient. Our car usage has dramatically reduced to weekends.
Can I ask the gurus out there, assuming if I change my COE car now to weekend plate, what do I stand to lose when I deregister the car in 10 years?

I am aware there is some benefits
1) $500 rebate on road tax
2) $1.1k rebate every 6 months

Thanks so much!

You only get the $500 road tax rebate and cheaper insurance. Point 2 doesn't apply.


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#8

Posted 29 November 2017 - 08:30 PM

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In this case,scrap it,you still can get your PARF back & use it on Public Transport,Uber & Taxi,even cheaper than you own a Car.


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#9

Posted 29 November 2017 - 08:40 PM

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Weekend take Uber lor
Or weekend go rent a taxi or Uber car

#10

Posted 29 November 2017 - 11:32 PM

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I do not think u can convert a COE car to OPC.

 

I think can. But you won't get the rebate, so damn bo hua.

 

https://www.lta.gov....#benefitsofROCP

 

The most you save is on the road tax but COE car got road tax loading so also not very worth.



#11

Posted 30 November 2017 - 11:13 AM

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Hello all! Recently, we have a downtown line open near our house. And getting to work has been more convenient. Our car usage has dramatically reduced to weekends.
Can I ask the gurus out there, assuming if I change my COE car now to weekend plate, what do I stand to lose when I deregister the car in 10 years?

I am aware there is some benefits
1) $500 rebate on road tax
2) $1.1k rebate every 6 months

Thanks so much!

 

You don't lose anything when you de-register your car.

 

You only lose if you use your car during restricted hours.  $20 a day means that it is more than twice the cost of a normally registered car. 

 

The $2,200 savings a year compared to a normal car works out to about $8.80 per day.  This means that a normal car owner pays $8.80 each weekday. But if you decide to use the car on a weekday, you pay $20.  And if you use the car to the same level as a normal car, it's more expensive than a normal car!  Double standards.



#12

Posted 30 November 2017 - 11:19 AM

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You don't lose anything when you de-register your car.

 

You only lose if you use your car during restricted hours.  $20 a day means that it is more than twice the cost of a normally registered car. 

 

The $2,200 savings a year compared to a normal car works out to about $8.80 per day.  This means that a normal car owner pays $8.80 each weekday. But if you decide to use the car on a weekday, you pay $20.  And if you use the car to the same level as a normal car, it's more expensive than a normal car!  Double standards.

Didnt know the average cost for a normal car is $8.80? So the $20 for opc to use during restricted hours consider expensive. Looks like even you seldom use your car on weekdays, better to buy a normal plate than opc, since saving like not a lot esp if you use it on and off during restricted hours?


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#13

Posted 30 November 2017 - 11:29 AM

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Didnt know the average cost for a normal car is $8.80? So the $20 for opc to use during restricted hours consider expensive. Looks like even you seldom use your car on weekdays, better to buy a normal plate than opc, since saving like not a lot esp if you use it on and off during restricted hours?

 

To clarify my numbers:

 

If you register an OPC right from the beginning, you get to pay $17000 less in COE/ARF, and about $500 cheaper per year in road tax. Not considering the cost of money, that works out to about $2,200 cheaper a year.

 

If you convert a normal car (where you have already paid the full COE/ARF) to OPC, you don't get the full refund of the pro-rated $17000, but instead get $1,100 per six months, or $2,200 per year.  Same road tax benefits of $500 per year.  So the total savings compared to normal car is about $2,700 a year, but remember that the $17,000 you paid up front is locked in and released at $1,100 every six months.

 

My $8.80 per day is based on the first scenario.  If you use the second scenario to compare, it is $10.80 per day.  Either way it should be about the same if you take into account the time cost of money.

 

So it is way more expensive to use an OPC than a normal car for the same road space at the same time. There is no good reason for this other than the government discouraging OPCs so as not to lose too much tax revenue.

 

If the government is true to the belief of wanting less cars on the roads, OPC is the best option. Every time an OPC owner want to use his car, he has to make an explicit decision on whether public transport is cheaper. A normal car owner will just use the car as it has already been paid, and at a much cheaper rate.



#14

Posted 30 November 2017 - 01:44 PM

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You only get the $500 road tax rebate and cheaper insurance. Point 2 doesn't apply.


Yup! I think this is correct. Hardly see COE car on red plate unless really seldom drive.

Usually people convert red plate to normal plate then renew COE. Not other way round unless with justification of super low usage.

Because it just don't make sense to pay more and use less!! :)

useless to have a COE cars as a weekend plate. negligible savings


Agree, basically Pay more and use less, don't make sense!!

#15

Posted 01 December 2017 - 09:04 AM

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To clarify my numbers:

 

 

 

So it is way more expensive to use an OPC than a normal car for the same road space at the same time. There is no good reason for this other than the government discouraging OPCs so as not to lose too much tax revenue.

 

 

disagree... it is just like season parking vs hourly parking..... you can't drive/park ad hoc and hope you enjoy same rate as season parking/normal car..... if not, who will buy season parking/normal car


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#16

Posted 01 March 2019 - 04:53 PM

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Had a chat with colleagues over lunch on opc cars...

Scenario 1
Normal plate car when new, half way through...convert to opc then back to normal plate till end of COE

Scenario 2
Normal plate to opc till end of COE

Scenario 3?
Opc when new, convert to normal till end of COE

We were murky about how the parf value at the end of COE be like for the three different scenarios upon scrap.

Edited by mersaylee, 01 March 2019 - 05:09 PM.


#17

Posted 01 March 2019 - 05:01 PM

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Had a chat with colleagues over lunch on opc cars...

Scenario 1
Normal plate car when new, half way through...convert to opc then back to normal plate till end of COE

Scenario 2
Normal plate to opc till end of COE

Scenario 3?
Opc when new, convert to normal till end of COE

We were murky about how the parf value at the end of COE be like for the three different scenarios be like upon scrap.

Easy. No change to parf as long as coe is more than 17k.

If less than 17k then only scenario 3 comes into play for the lower parf.

For 1and 2 the parf does not change, you get back 1.1k for every full 6mths till end of coe.

Basically the formula is deduct coe first followed by arf paid to get the 17k rebate.

Edited by Mkl22, 01 March 2019 - 05:01 PM.


#18

Posted 01 March 2019 - 05:02 PM

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Had a chat with colleagues over lunch on opc cars...

Scenario 1
Normal plate car when new, half way through...convert to opc then back to normal plate till end of COE

Scenario 2
Normal plate to opc till end of COE

Scenario 3?
Opc when new, convert to normal till end of COE

We were murky about how the parf value at the end of COE be like for the three different scenarios be like upon scrap.

Some relevant discussion here but may not have all your 3 scenario.

https://www.mycarfor...-opc-to-normal/

#19

Posted 01 March 2019 - 05:10 PM

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Thanks guys. I’m still murky. Hahaha. I’ll show this to them later.

I guess the best bet is to log in to onemotoring to see the actual rebates.

#20

Posted 01 March 2019 - 05:25 PM

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Thanks guys. I’m still murky. Hahaha. I’ll show this to them later.

I guess the best bet is to log in to onemotoring to see the actual rebates.

COE car will not have rebate for converting to OPC, you only save on Road tax and insurance.


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