Budget Out.....ARF cut to 110%
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What do u think will be the implications??
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full speech here for those who are interested.
http://www.budget2004.gov.sg/budget/budget_2004/index.html -
Hi...ARF reduce to 110%. Will this make alot of difference to car price? Or is it jus a 1-2k difference only? Can any kind soul please answer...thxs! -
If I book the car in Jan but the coe register will be ard april, will this effect the price to be paid to the car dealer?
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If I book the car in Jan but the coe register will be ard april, will this effect the price to be paid to the car dealer?
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Hi all to answer myself and all pals who are interested in this ARF cut thingy. I went to check out the "onemotoring" website. It stated that the reduction will result in the up-front payment for new car owners to be reduce. Those who had gotten their COE will not be in this scheme. But of course those not in this scheme will have a higher PARF for your car than those who are involve..Please correct me if i am wrong, thxs
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I am one of the suckers who bought a car in Jan but will get my car (hopefully) in march because of shipment and color issues. Was told this: Because I have already gotten my Open Cat COE, I am not entitled to the 110% PARF. However, the difference would not be very great as the COE would most prob go up during the next bidding and drive the car prices up. With a 130% PARF, technically the resale value is higher......... I hope.
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With a 130% PARF, technically the resale value is higher......... I hope.
or at least i know that the scrap value is higher last time ....i.e scrap value drops once ARF drops to 110%....
so assuming that the prices of COEs now rise by a few thousand dollars and keeps the overall prices roughly the same....
you receive slightly more money when u scrap it... so the resale value technically is higher too.... cos the scrap value is the based on the ARF....
since the ARF has dropped by 20%... the current regulations is such that u scrap ur car at 10 yrs...... u get back 50% of ARF paid...
so consider a normal japanese 1600cc car...which OMV is like about $16000... and then ARF was 130% of this.. u get $20800 then the scrap value is like $10800... then now ARF is $17600... scrap value is at $8800 so u lugi $2000 after 10 years
well u guys can count the rest... u never know when the regulations for scrappin or COEs gonna change...so... juz take the 20% cut happily and know that the prices are lower hahaha