Hi all,
Will there be any savings if i were to buy a used car, say with 2 yrs left and convert it to a offpeak car? Will there still be a $17K rebate? Tks!
I believe it should be a portion of the 17K. i.e. 2yrs/10yrs x 17k
In my opinion only...
If you buy a normal scheme car and convert it into Weekend car, u get nothing in rebate and pay $100 for the conversion. If u buy a weekend scheme car and convert it into a normal scheme car u pay the prorated amount of 17k rebate. E.g. If u buy a 8yr old weekend scheme car then u got to pay LTA 2/10*17K = $3,400 for the car to be used for the remaining 2 years. On top of this u pay the usual $100 for the conversion as well. Convert only if you are sure. The only tangible benefit is the amount of road tax saved. If you buy and convert a 1.5L car, u pay only roughly $70-80 for your road tax all year round. The savings is $800 off the usual tax amount.