How do you Scrap / Dispose your 10 year old car in Singapore?
How do you Scrap / Dispose your 10 years old car in Singapore?
Have you ever wondered what to do with your 10 years old car? Should you sell or scrap your car?
In Summary there is TWO ways to do it:
FIRST Method DIY – Send it to a Scrap yard Singapore
What will happen is that you will drive your physical car to the scrapyard and let the scrapyard know that you are scrapping your car. The scrapyard will give you a value for your vehicle body. The scrapyard will also provide documents stating the date and time which you hand over your vehicle, liabilities of the traffic offence is as per the date and time stated in the handover time.
Next you will need to inform LTA that your car is in the Scrapyard and you can De registered your vehicle.
There will be two forms you need to complete and submit to LTA
1) D01 Application for De-registration of a Vehicle
2) FR02 Application to Encash for PARF and COE rebate
You can print and complete the forms from the below link :
Link to print D01:
Link to Print FR02:
After the documents is duly completed and submitted the owner of the vehicle will get the Parf/COE rebate from LTA in 2-4* working weeks.
SECOND Method – You can sell the whole car with the COE/ PARF Rebate to a Car Dealer
Most vehicle owners will choose this method, because the owner will just basically sells the car to a car dealer, the dealer will buy the vehicle body(which scrapyard offers) together with the COE/Parf rebate amount. The owner will get the full amount via Cash/Cheque or Cashier order in the registered owner name at the agreed price by both parties. A sales/purchase agreement with the handover date and time is also provided.
The dealer then take over the ownership of the vehicle and will then decide to Scrap/export the car.
You might be wondering, why would a car dealer purchase a 10 years old Vehicle with the COE and PARF, this clearly adds to more cash outflow as compared to purchasing only the vehicle body and get the owner to do the de registration and encash of PARF. The reason is because dealers who are able to buy over the PARF and the Vehicle body will have an competitive advantage over dealers that do not, it benefits the Seller as the Seller need not De registration the vehicle and apply the Encashment. The PRAF and COE rebate is immediate to the seller!
**NOTE: If you wish to maintain your vehicle registration no./Car plate no., kindly do it before the time of de-registration at the Scrap Yard.
If you are like most car owner who prefer the Second method let WagonMate to help you dispose your car the hassle free way. Call us at 66597183 or drop us an email email@example.com
we are always happy to help!
Contact us for more details.Read More