PARF value questions

[Mike80]

Hi to all, would like to check on some questions with regards to PARF value. If my car minimum PARF value is about $6700. After the end of the 10th year, do I get back the exact amount of $6700? I heard from friends you will only get back about 5-6k plus after deduction of admin fees and other miscellaneous stuff. Is it true?

[w7_lee]

Normally if you trade in the old car to an used car seller IN EXCHANGE as part of the downpayment for your next car (from them), they normally honor the PARF value. They make some $ from the body (scrap metal).