scraping of car.

[jinhanz]

hi guys. i will be scraping my car this sat. just wondering what is the scrape value of cars ontop of the coe value? my coe value is roughly 30k and the scrape company quote me around 31k++. seems like my car is only worth 1.5k. just wondering whether this is the right value? by the way my car is still on loan and it is roughly 32k. so was thinking whether if i pay one time in full there is a possibility that the interest will be reduce?

[Throttle]

Your COE value $30k!!!!!! how old is your can, man.?

I think you mean paper value not COE value.

What car is that ?

 

They chop you big big lah....

 

If you pay one time in full , you'll have to pay more, not less.

The interest will not be reduced and you'll have to pay a penalty.

That is the beauty of taking a car loan in Singapore.

You dont pay , you lose, you pay , you also lose.

 

hyekhyek hyek.....

[jinhanz]

i think is the coe rebate. car is like 4 years old if i am not wrong. i just check on the one motoring site for the amount i will get back if i deregister. so on top of that that is the value for the car. sianz the car is so new just that no one have the time to drive. my father bought it for me but now i am going army. the car is park downstairs and it is jsut a of waste money. further more still have a van and 3 bikes. coe rebate seems to be higher then the market price of the car. so my father decide to just scrape the car.

but i didn`t expect that scrapeyard pay just 1.5k ontop of the coe rebate for the car. and i think they will export that car and sell it overseas since it is still quite new.

[Demon]

Originally posted by jinhanz@Dec 6 2006, 12:49 PM

i think is the coe rebate. car is like 4 years old if i am not wrong. i just check on the one motoring site for the amount i will get back if i deregister. so on top of that that is the value for the car. sianz the car is so new just that no one have the time to drive. my father bought it for me but now i am going army. the car is park downstairs and it is jsut a of waste money. further more still have a van and 3 bikes. coe rebate seems to be higher then the market price of the car. so my father decide to just scrape the car.

but i didn`t expect that scrapeyard pay just 1.5k ontop of the coe rebate for the car. and i think they will export that car and sell it overseas since it is still quite new.

your scrap value consists of two component :

 

1. balance of unused COE

2. PARF (OMV or ARF)

 

If your car is 4 years old, you could fall either in the new or old PARF tax scheme, The date, May 2002, decides whether you get 130% or just 75% on the PARF rebate.

 

The scrap value you get online is accurate, and whatever amount above that is between you and the buyer.

 

Cars below 5 year old are rarely scrapped, as they still have good export value. However not all cars command the same value. VWs would command a better "body" value than Hyundai.

 

Not sure what car is yours, but $1.5k above scrap value seems rather low.

 

[Throttle]

Originally posted by jinhanz@Dec 6 2006, 12:49 PM

i think is the coe rebate. car is like 4 years old if i am not wrong. i just check on the one motoring site for the amount i will get back if i deregister. so on top of that that is the value for the car. sianz the car is so new just that no one have the time to drive. my father bought it for me but now i am going army. the car is park downstairs and it is jsut a of waste money. further more still have a van and 3 bikes. coe rebate seems to be higher then the market price of the car. so my father decide to just scrape the car.

but i didn`t expect that scrapeyard pay just 1.5k ontop of the coe rebate for the car. and i think they will export that car and sell it overseas since it is still quite new.

As per Demon post.

 

====================================

Oh you still havent even completed NS................

Ok than good luck in the Army, hope you learn some things and grow wise.

 

 

[jinhanz]

hahahaha. yeah in fact i am going in this fri. and guess i will be pretty old. 21 already. hahahaha stupid saf.i waited almost one year for my ns. dunno whats wrong with their system.

yeah my daddy bought the car to discourage me from riding. in the end it did not succeed. its a nissan sunny. all of them have their own kind of transport therefore if i dun drive it is just park downstairs simply waste of money on insurance carpark. guess must go and enquire more scrapeyard. even my bike i scrape and sell the parts i get more then the amount i sell my car to the scrapeyard so pretty disappointed. just hope i dun get chop too much.

[paithorn]

it depends on what car also...if it is a car where parts are not wanted, then dun expect a lot above yr scrap value...