Another decade has ended, which means there is a COE that is near approaching its expiration date this 2020. So, if your car’s COE term is coming to an end? You might be wondering about scrapping or exporting your car instead of renewing your existing COE.
With that said, here are some tips that you should keep in mind before going to a scrap car shop in Singapore.
1. Don’t Wait Until the Last Minute
Remember, when COE expires, you can no longer drive your used car on the road any more, which means you will have to pay an additional cost to tow it to the scrap car shop.
So, before your car’s COE expires, better arrange with a scrap car shop at least a month before the expiration date.
2. Price Rate Depends on Supply and Demand
If you are thinking of “I want to sell my car”, you have to determine the state of supply and demand, because the price rate of your used car depends on these.
But the price rate changes when the scrap car shop decided to sell used cars for export.
3. Know the Car’s Paper Value
Before going to a scrap car shop in Singapore, you must first need to know what your car’s paper value is, because these will help you to know how much COE rebate and PARF rebate will you get.
4. De-register the Car
DIY: If you de-register the car by yourself, you will get the full paper value, including the road tax rebate, but doing this process takes a lot of time and effort.
Let Scrap Car Shop Do It: they will sort everything out, and you will receive the money right away as soon as you finished handing over the car, but there will be one to two percentage deduction from the paper value because the money from the scrap car shop will get stuck at LTA for weeks.
Keep these things in mind, but if you want to know more, better contact a scrap car shop like SgCarTrade in Singapore as they can answer your enquiries about used cars for export.
