I’m quite flattered that Google search for “scrap car value in Singapore” currently leads right to my site. It’s the first hit in the search results. The hit, however, leads to outdated information that I wrote probably in around 2002. Since many netizens are obviously going to want to know updated information, I’ve decided to provide a public service by writing this post providing updated information. There is also an online query that tells you exactly the de-registration value of your vehicle, if you don’t really care about how the value is calculated.
Update (2015-04-14): This original post has been republished with updated details. Please check out Calculating Scrap Value of Singapore Cars.
Okay, so let’s cut to the chase. The re-registration value, or what we commonly refer to as scrap value, is made up of two parts: the PARF (Preferential Additional Registration Fee) rebate and the COE rebate.
Let’s talk about COE rebate first, since it is simpler. The COE rebate is the money you get back on the portion of COE you have not used on your current car. The rebate is a simple linear prorated sum of the original quota premium (or the lesser of the quota premium of the corresponding category of your car from the same tender exercise if your car was registered with the “Open” category COE). So for example, if there is 60 months left on your COE that cost $50K, the COE rebate is $25K (60 / 120 months x $50K).
PARF rebate is complicated because it has been changing over the years. Let’s talk about the more common cases first. This table applies for cars registered with COEs from the May 2002 tender exercise onwards:
|Age at De-registration (years)||PARF Rebate as % of ARF|
|age < 5||75%|
|5 <= age < 6||70%|
|6 <= age < 7||65%|
|7 <= age < 8||60%|
|8 <= age < 9||55%|
|9 <= age < 10||50%|
|age >= 10||Nil|
The ARF (Additional Registration Fee) of the vehicle will be stated in the logcard. The ARF has been changing over the years too, and it is pegged to a % of the OMV:
|Registered with COE from tender exercise||ARF as a % of OMV|
|From March 2008 onward||100%|
|From March 2004 to February 2008||110%|
|From May 2002 to February 2004||130%|
The PARF rebate for vehicles registered with COEs before the May 2002 tender exercise:
|Age at De-registration (years)||PARF Rebate as % of OMV|
|age < 5||130%|
|5 <= age < 6||120%|
|6 <= age < 7||110%|
|7 <= age < 8||100%|
|8 <= age < 9||90%|
|9 <= age < 10||80%|
|age >= 10||Nil|
Example: Vehicle registered on 1 Dec 2008 with COE of $4889. OMV = ARF = $21000. To de-register on 1 Mar 2012.
COE rebate: Used 3 years 3 months, remaining 81 months out of the 10 years COE. So, 81 / 120 x $4889 = $3300.
PARF rebate: Vehicle is under 5 years old. 75% x $21000 = $15750.
Total rebate: $3300 + 15750 = $19050.