OPC rebate

• Interpid

  2 Dec 08, 14:57

  Hi,

   

  Will like to purchase a car and is looking out for OPC cars. Had look thru some bros contribution on owning a car. But there does not seems to say OPC rebates or i have miss it.. :p

   

  Hope anyone out there could give me some pointers.. using this car as example..

  Registration: Oct 2006

  OMV: $8215

  COE: $12001

  Deregistrated date: Oct 2011

   

  What OPC rebates or we get back?

   

  http://www.sgcarmart.com/used_cars/info.php?ID=32172&DL=1354

   

  Thanks for your advise..

• nightsky87

  2 Dec 08, 16:02

  Originally posted by Interpid:

  Hi,

   

  Will like to purchase a car and is looking out for OPC cars. Had look thru some bros contribution on owning a car. But there does not seems to say OPC rebates or i have miss it.. :p

   

  Hope anyone out there could give me some pointers.. using this car as example..

  Registration: Oct 2006

  OMV: $8215

  COE: $12001

  Deregistrated date: Oct 2011

   

  What OPC rebates or we get back?

   

  http://www.sgcarmart.com/used_cars/info.php?ID=32172&DL=1354

   

  Thanks for your advise..

  OPC rebate of 17k to be offset against ARF/COE is only for registration of new cars.

• Interpid

  2 Dec 08, 16:09

  Thanks for advise, nightsky87.

   

  Let say if it is for 2nd hand car, will there be any rebates on the OMV or COE?

• nightsky87

  2 Dec 08, 16:17

  Originally posted by Interpid:

  Thanks for advise, nightsky87.

   

  Let say if it is for 2nd hand car, will there be any rebates on the OMV or COE?

  I'm not 100% sure, but I think for deregistration for cars less than 10 years old, PARF/COE benefits still apply, ceteris paribus for OPC cars you will get back rebates based on COE/ARF paid at point of registration.

  That's my understanding though I could be wrong.

• nightsky87

  2 Dec 08, 16:24

  Originally posted by Interpid:

  Hi,

   

  Will like to purchase a car and is looking out for OPC cars. Had look thru some bros contribution on owning a car. But there does not seems to say OPC rebates or i have miss it.. :p

   

  Hope anyone out there could give me some pointers.. using this car as example..

  Registration: Oct 2006

  OMV: $8215

  COE: $12001

  Deregistrated date: Oct 2011

   

  What OPC rebates or we get back?

   

  http://www.sgcarmart.com/used_cars/info.php?ID=32172&DL=1354

   

  Thanks for your advise..

  For your example stated above, let's make things easier by assuming a COE of 12k and OMV of 8k. So when you first buy the car, the 17k rebate will be offset against COE, then any remaning against ARF

  17k - 12k = 5k

  Which will then be offset against your ARF (06 car, ARF = 110% OMV, = 8800)

  8800 - 5k = 3800.

  The ARF paid should have been 3800.

  If you deregister in 2011, ie not exceeding 5 years, you will get back PARF of (75% ARF)

  which will be approximately $2850.

  No COE rebate as COE was fully offset by OPC rebate during point of registration.

  Any bros who find any errors in my computation, please do highlight.

   

• Interpid

  2 Dec 08, 16:45

  Hi nightsky87,

   

  Thanks for your quick response and clear calculation.. It really helps in my budgeting..

   

  Cheers..

• lianamaster

  2 Dec 08, 19:21

  Put aside at least $1000 every month no matter what car (OPC or not) you are buying....that's the safest...

• Interpid

  3 Dec 08, 10:43

  Hi Lianamaster,

   

  Yap, that is true. Thanks for the advise..

   

  Cheers.

• carbikebus

  3 Dec 08, 13:35

  Originally posted by lianamaster:

  Put aside at least $1000 every month no matter what car (OPC or not) you are buying....that's the safest...

  
  Also depend on what type,On how often u use also right?Mine is less than 600 including installment

• lianamaster

  4 Dec 08, 09:41

  Originally posted by carbikebus:

  
  Also depend on what type,On how often u use also right?Mine is less than 600 including installment

  You need not to spend close to $1000 depending on what car you drive....what I mean is having $1000 set aside for your car would definitely cover most, if not all, of the costs without worries... U would prefer that right?

• carbikebus

  4 Dec 08, 18:24

  Originally posted by lianamaster:

  You need not to spend close to $1000 depending on what car you drive....what I mean is having $1000 set aside for your car would definitely cover most, if not all, of the costs without worries... U would prefer that right?

  
  Noted liana but i seldom drive my car but near 1k for a 1.2 cc car is too ex liao. i set aside only about 500 is it ok?

• lianamaster

  4 Dec 08, 22:51

  Originally posted by carbikebus:

  
  Noted liana but i seldom drive my car but near 1k for a 1.2 cc car is too ex liao. i set aside only about 500 is it ok?

  Ok.... since there are some payments that need not be paid on a monthly basis....