Have you decided to scrap or deregister your vehicle? If yes, then, fortunately, in Singapore, LTA will give you a reward for taking your car off the roads in form of enquire PARF and/or COE rebate. The sum of these rebates is typically equal to the scarp value of your vehicle or the amount that you expect to be reimbursed for your car scrapping. But how can you check out your COE / PARF rebate of your car? Let’s get into it!
What is PARF Rebate?
If you want to deregister your car that is under 10 years old, then you can receive a PARF rebate. PARF means preferential additional registration fee, which is designed to recoup you for the additional registration fee (ARF) you paid on your car registration. You can get the PARF rebate based on your vehicle’s age at deregistration.
For instance, around 5 years or more, you may expect a PARF rebate of 75% of ARF and 50% of ARF for 9 to 10 years old registered cars. The additional registration fee or ARF scales off the OMV (Open Market Value) of your vehicle. If you paid more for your vehicle means, your PARF rebate would be higher due to higher ARF as long as your vehicle’s age is less than 10 years old.
However, if your car is not under 10 years old, then you will not be eligible to receive the PARF rebate. You can receive both PARF and COE rebates in case of your car deregistration. These rebates will be valid for 1 year from the date of deregistration.
What is COE?
COE is referred to as a certificate of entitlement that is required to register a new car. If you want to deregister your car before your certificate of entitlement expires, you are reimbursed based on your PQP (Prevailing Quota Premium) and QP (Quota Premium).
Difference between PARF and COE rebate:
The difference between COE and PARF rebates is the amount you receive when you deregister your car. You can’t deregister a PARF car before its depreciation period has ended, which is 10 years. Your car can be eligible for both PARF and COE rebates with ARF paid on the car, which ranges from 50 percent to 75 percent. On the other hand, if you have a COE vehicle, then you are not eligible for a PARF rebate because you chose to pay PQP instead of your car deregistration. So you will receive a COE rebate upon de-registration.
How do I check my PARF / COE rebate of my car?
- To check your PARF/COE rebate, head over to the website: www.onemotoring.com.sg
- Now, click on the option ‘quick access’, and then hit the option eServices & info.
- Now click on COE/PARF and then PARF/COE rebate to deregister your vehicle.
- Enter your Carplate and choose ID type
- Then put the last five characters of your ID, e.g., 5577T.
- Enter the proposed de-registration date
- Now hit the button ‘I agree.’
- To get PARF and COE rebates, you need to pay around 50% to 75% ARF on your car.
- You are not eligible for the PARF rebate for your COE car if you chose to pay PQP instead of deregistration.
- You can check the PARF/COE rebate for your car by visiting the onemotoring.com website, select PARF/COE rebate, and enter all your necessary details.