Market Watch: These Used PARF Cars Represent Excellent Value
Some are comfortably less than 10 years old, capable and easy on the wallet - looks like we’re on to a winning recipe.
What is a “PARF” car?
In Singapore, a "PARF car" is one that qualifies for a Preferential Additional Registration Fee (PARF) rebate if it is deregistered before 10 years old. The rebate, based on the car’s OMV and age, encourages owners to switch to newer, less polluting vehicles.
How is it different from a “COE” car?
PARF cars are vehicles still within their original 10-year COE period, while COE cars are those over 10 years old with a renewed COE.
What is the market like for good value PARF cars?
In terms of annual depreciation, close to 100 listings on Carousell’s used car classifieds offer less than 10 grand depreciation. Granted, a handful only have a few months left before the death knell strikes, but a good number have plenty of legs left. A deeper dive reveals a couple of rather quirky examples. The drive-it-and-chuck-it mantra could work on some 9.5 year old examples, too!
How “affordable” are we talking?
The Mitsubishi Attrage seems to lead the value race, with one listed at $4,600 annual depreciation. A couple others should not cost you more than 6 grand depreciation annually.
A couple of Hyundais, including this clean Elantra and Avante provide enormous value at less than $6,200 depreciation yearly. These mentioned cars coincidentally have 3 years left on the COE cycle.
What can I get for S$600 monthly depreciation?
That’s S$7,200 annual depreciation, which should snag you a couple of decent options like a 1.5-litre turbo Civic and familiar force-fed 1.4-litre VW Jetta. You’ll also find a few parallel-imported 1.3-litre NA Honda Fit at this price point, which we reckon delivers fantastic bang for buck.
How about a monthly depreciation of SS$800?
This is where options start to widen. S$9,600 yearly depreciation is no small change, but solid choices abound. The stylish Citroen DS5 diesel is available for those that like to indulge in a niche.
Opel’s dealership ceases operations by end 2025, but that does not stop us from buying good value cars like the Astra Sports Tourer diesel estate, 1.2-litre turbocharged Crossland compact SUV and handsome Insignia Grandsport diesel sedan. Arguably safer bets include this Honda Shuttle, Audi A3 sedan and even this fun, 250,000km Suzuki Swift Sport.
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