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Thread: CEVS and PARF value

  1. #1
    w7_lee
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    Default CEVS and PARF value



    My car is due for scrap in 5 months and I am studying the new car market at the moment.
    I have a question regarding the CEVS rebate and PARF. If anyone knows, appreciate if you can enlighten me.

    At the present, I understand that if a car's OMV is $20K and if it is entitle to a CEVS rebate of $5K.
    The car's actual minimum ARF becomes $15K (i.e. OMV-CEVS rebate)
    The minimum PARF value (at the end of it's 10years life span) is $7.5K (i.e. ARF x 50%)

    My question is:
    What happens if I scrap the car before the COE expires, like on year 6 or 8?
    Will the CEVS rebate be pro-rated?
    Or not applicable at all?
    Or still the full $5K?

    TIA
    Yamaha Power Valve, Suzuki scrambler, Honda Scrambler (1992 - 1998)
    Suzuki Swift - 2001 till 2003
    Honda City - 2003 - 2011
    Honda Civic, VTI (2011 - 2015)
    Current....
    Suzuki Impulse, GSX400V (2014 - 2017, extend till Oct 2022)
    Honda Vezel - (2015 - Nov 2025)

  2. #2
    w7_lee
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    Default

    Gave it some thoughts over the weekend & I come to the conclusion that the CEVS rebate is given when the car is 'first' registered. So only the 'first' owner gets it.

    For a buyer that purchase a used car (with CEVS rebate), the min. PARF of the car will be lower. Assuming the buyer buys a used car and drives till the COE expired, in the past (before CEVS), the min. PARF = min. OMV/2.

    Now with CEVS rebate, the min. PARF = (min. OMV - CEVS rebate)/2

    So for those that goes for used car (like me), we should be aware of this; just in case the 2nd hand car dealer is not truthful.
    Yamaha Power Valve, Suzuki scrambler, Honda Scrambler (1992 - 1998)
    Suzuki Swift - 2001 till 2003
    Honda City - 2003 - 2011
    Honda Civic, VTI (2011 - 2015)
    Current....
    Suzuki Impulse, GSX400V (2014 - 2017, extend till Oct 2022)
    Honda Vezel - (2015 - Nov 2025)

     

     
  3. #3
    Saintjo
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    Default CEVS and PARF value

    Best way to check rebate value is using lta eservice, under parf rebate.it will show the rebate amount based on which date you want scrap ur car.


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