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Need options for your 10-15 year old car? No jargon, no math guide
The study of mathematics has been likened to a blind man in a dark room looking for a black cat that isn't there. A bit like buying or selling a car in Singapore then.
If you have a 10-15 year old car in Singapore, you probably have a range of baffling questions. The trusty car team at Budget Direct Insurance has all the answers:
In Singapore, your car must be de-registered after 10 years unless you pay to renew your COE. Start the process 2-3 weeks before your COE expires. After this date, your car cannot be on the road and you could incur additional costs, like towing.
What are my options?
1. Renew your COE
If a 5-year COE is chosen for the vehicle at the next renewal, no further renewal will be allowed upon expiry of the new COE.
“ If you wish to keep your vehicle registered beyond its current COE expiry date, you will need to renew the COE by paying the applicable Prevailing Quota Premium (PQP) for your vehicle.” One Motoring, March 2017
Click here for an easy PQP calculator.
We’ll beat your car insurance renewal quote or you get $100*
2. Sell your car
motorist.sg works with over 150 car exporters and scrapyards in Singapore who can bid for your car. Then motorist.sg lets you know the most competitive quote. The service is cost and obligation free.
Sgcarmart also offers a free valuation service. Get a quote here .
3. Scrap your car
If no exporter is willing to take your car, then the next option is to sell to a scrapyard. The car will be broken down for any valuable spare parts and precious metals. You may not have the heart to do this to you car, especially if you have given it a nickname!
Here is a comprehensive list of car scrap yards in Singapore .
The scrap value for your car is made up of two parts. The COE rebate + the PARF rebate. You can easily calculate your car’s scrap value here .
If you really want to know more about the math, go here to find out how your car’s scrap value is calculated .
The AA offers a free scrap car service for members . You’ll need to have your documents in order.
Pay less for your car insurance or get a $100 voucher*