Part 4 - Determining the estimated value of a pre-owned car

How do I calculate the Paper Value of an OPC car?

It is the same as deriving the Paper Value of a regular car. However, due to the upfront rebate of not more than $17,000, this value would have been much lesser or none at all as compared to a regular car.

Car registered as OPC on 25/05/2008.

COE Quota Premium = $5000
OMV = $10,000
ARF = 100% of OMV = $10,000

After OPC rebate, COE and ARF values will be at 0.

As a result, because the car was registered after May 2002 tender exercise, PARF benefits are based on ARF amounts. As there is $0 post rebate on the ARF, therefore, there will be no PARF Benefit.

Likewise for the COE rebate, because COE is at $0 as well, there will be no rebate.

In this situation, when you scrap your vehicle after it's tenth year, you will receive money for scrap metal only.

If you decided to have it exported, you will receive body value of the car only.

Car registered as OPC on 08/09/2007.

COE Quota Premium = $11,000
OMV = $12,000
ARF = 110% of OMV = $13, 200

OPC rebate will first be offset against COE and than ARF, therefore,

COE Quota Premium (post offset) = $0
ARF (post offset) = $7,200

Therefore there will be no COE available for rebate. However, PARF benefits will be as follows:

Take that the car will be de-registered just before it's tenth year,

PARF Benefit = 50% of ARF paid
= 50% x $13,200
= $6,600

Credits: Story by Ming Jie