COE renewal question

[kdash]

see whether worthy to renew

you want to buy TS car? haha...

[DACH]

Only find out OPC is a "Scam",my Scrap Value is reduced,because of low COE in 2009,now only can get $12,500 in PARF,while the Normal Plate of my model,gets $24,500.[based on OMV of $49,000].    

 

Should have converted the car to normal plate months before you scrap the car.

[ER-3682]

Should have converted the car to normal plate months before you scrap the car.

Oh still got 1 more year,you mean,if i convert back to Normal plate,then i give back Gov't $1,700,i can get 50% of my OMV.?

[Zxcvb]

Oh still got 1 more year,you mean,if i convert back to Normal plate,then i give back Gov't $1,700,i can get 50% of my OMV.?

Lol. Of course not. OPC cars bought during those really low COE about 9 years ago will have little to no PARF when scrapping the car. Why? Cos the $17k rebate deducts from COE and ARF. When COE fall below $17k, the deduction will eat into the ARF. At the tail end of 9 years when you want to scrap, that PARF (50% of ARF) can be very very low.

 

You should have known this when you gotten your car.

[xmake]

If my coe expire on 30th april, can I wait the 2nd April coe bidding to finish and use this latest pqp?

 

bro you mean wait until 2nd May is it? 

 

Technically you can but you will need to pay a late renewal fee. 

The latest PQP you can use is the April 2nd round bid result. 

Not worth to take the risk as no one knows what will happen to the next COE bidding. 

 

Take myself for example, my car expired on 1st April. 

 

Then after that kpkb cause pocket burn big hole. 

Edited April 9, 2018 by xmake

[Andyong]

I asked LTA before. Even if you willing to pay the whatever late renewal fee, road tax and stuff it's useless.

 

Pqp base on month your current car coe expires.

 

I wanted to save a few thousand also can't.

 

End of day they win.

Edited April 9, 2018 by Andyong

[Wildfaye29]

quick question

 

inspection is 3,5,7,9 year.

 

when renewal coe @ 10 yr, does it need to be inspected before renewal? or at 11yr and subsequently yearly?

[Mr_biscuit]

quick question

 

inspection is 3,5,7,9 year.

 

when renewal coe @ 10 yr, does it need to be inspected before renewal? or at 11yr and subsequently yearly?

Yes, your car need to be inspected at the "10th Year" when you renew COE in order to renew insurance as well.

[Evillusion]

Yes, your car need to be inspected at the "10th Year" when you renew COE in order to renew insurance as well.

nope.....i just renewed mine and i didnt need to go for inspection.

[Fitvip]

nope.....i just renewed mine and i didnt need to go for inspection.

Correct. 11th year onwards, inspection is annually.

[Evillusion]

Correct. 11th year onwards, inspection is annually.

i just renewed on 2nd March....thats how i know....

[Wildfaye29]

ok thank you all!

[Fitvip]

i just renewed on 2nd March....thats how i know....ððð. 11th yr then the increase starts......

You got the lowest at $39+k?

[Evillusion]

You got the lowest at $39+k?

$39247......another 10 yrs!

[Mr_biscuit]

nope.....i just renewed mine and i didnt need to go for inspection.

 

Oops my bad for wrong info.

[Mkl22]

Lol. Of course not. OPC cars bought during those really low COE about 9 years ago will have little to no PARF when scrapping the car. Why? Cos the $17k rebate deducts from COE and ARF. When COE fall below $17k, the deduction will eat into the ARF. At the tail end of 9 years when you want to scrap, that PARF (50% of ARF) can be very very low.

 

You should have known this when you gotten your car.

But what’s wrong? Still pay 17k less. You rather have coe at 17k or more so that parf is not affected?

 

Actually it’s also better as you now get the option to renew coe since the parf loss is also less.

Edited April 21, 2018 by Mkl22

[Evillusion]

Oops my bad for wrong info.

i also thought that i need to go for inspection.........

[Mr_biscuit]

i also thought that i need to go for inspection.........ððð.

I learnt something new from you today, wahaha..

 

I guess it's pretty wise choice to renew COE now given that the recent COE pricing are on the lower range.

This makes your future annual depreciation of your COE car lower, which helps to save alot of money $$$.

 

Smart.