Finally, your loyal “companion” for many years have reach the final milestone, the end of its 10 years COE – “Certificate of Entitlement”!
So what can you do with your “once” precious car now?
Renew its COE – Certificate of Entitlement
When your car’s COE expires, it will automatically deregistered, unless you have renewed the COE. If not, you wil need to dispose your car.
If you renew your COE after its expiry date, you must pay the PQP – “Prevailing Quota Premium” of the month your COE expires. You will also have to pay a late renewal fee.
Renewal of 5-year COE: (Cars & Motorcycle in Category A, B and D)
Pay 50% of the PQP to renew your COE for 5 years.
It is important to take note, you can renew your car’s COE for 5 years once! When the 5–year period is over, the car’s COE cannot be renewed again and will have to be deregistered.
Renewal of 10-year COE: (Cars & Motorcycle in Category A, B and D)
You just simply pay the PQP for your vehicle category to renew your COE for 10 years.
For vehicles with no statutory lifespan (i.e. Categories A, B and D), there is “NO LIMIT” to how many times you can renew your COE in 10-year periods.
Deregistration Your Vehicle
If you have decided not to renew your car’s COE, you can always go for deregistration and scraping your vehicle, here are the various ways you can do it:
- Scrap it at an LTA-authorised scrapyard
- Store it temporarily at an LTA-authorised EPZ
- Export it
It is always strongly recommended to call them and compare scrap prices, before deciding to send your car to which scrapyard. Typically, you should get roughly S$500 to S$2000 body value, depending on brand and type etc.
Remove any “EXTRAS” accessories from your car, as they are not required by the scrapyard, and it sure won’t increase your scrap value either.
According to LTA, below are the list of authorized vehicle scrapyards in Singapore:
Claiming Back Your PARF – “Preferential Additional Registration Fee”
All cars come with an OMV – “Open Market Value”, which is the original cost of production of the vehicle.
If the vehicle is deregistered within 10 years from its first registration date, the registered owner will be entitled to a PARF rebate.
To deregister and dispose your vehicle at an LTA-authorised scrapyard, follow the steps below. The steps are different, depending on whether your vehicle has PARF rebates or not.
You can check online if your vehicle is eligible for PARF rebates at the following link with your SingPass/CorpPass 2FA:
Enquire PARF/COE Rebate Details for Vehicle Not Yet Deregistered
You are also required to deregister your vehicle at the “link below”, regardless if your vehicle entitles to PARF rebate or not:
(Source: OneMotoring website)
To avoid the hassle, you may consider engaging a dealer to help you dispose of your vehicle.
However, special deregistration steps apply if your car:
(*more details at OneMotoring website)
- Is lost through theft
- Is lost through Criminal Breach of Trust
- Belongs to a deceased owner
- Belongs to an undischarged bankrupt owner
- Belongs to a diplomat