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CEVS and PARF value


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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 - 2003

Honda City : 2003 - 2011

Honda Civic VTI : 2011 - 2015

Suzuki Impulse GSX400V 2014 - 2017, extend till Oct 2022 (Scrap in Nov 2020) 😢

Honda Vezel : 2015 - Nov 2025

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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 - 2003

Honda City : 2003 - 2011

Honda Civic VTI : 2011 - 2015

Suzuki Impulse GSX400V 2014 - 2017, extend till Oct 2022 (Scrap in Nov 2020) 😢

Honda Vezel : 2015 - Nov 2025

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