Have you ever asked yourself a question, “Should I scrap my car?” This question usually pops up when one wants to get rid of an old car in exchange of a new one. While there are a lot of things to do with an old car, scrapping it has somehow become popular. It is easy, hassle-free and fast. At the same time, it is also a good way to get some extra cash in exchange of getting rid of an old car.
Let us elaborate first on the benefit of scrapping your car. First of all, it is easy to do. All you have to do is to find a car scrap dealer in Singapore. You can simply go to Google and search for possible dealers that can help you deal with the old car. At the same time, recommendations from friends can also came in handy so that you will be able to choose a truly reliable and efficient scrap dealer. Another advantage is that it is definitely hassle-free. As a matter of fact, a scrap car company can send a representative to pick up the car. This means that you can save more time since you no longer need to drive the old car all by yourself.
Knowing the right way to calculate the estimated value of your old car is the key to getting the best value out from it. The overall value of the car is made up of its paper value as well as its body value. The paper value is now composed of two components, namely the PARF benefit and the COE rebate. On the other hand, the body value is dependent on the quality of the car at the type it is scrapped.
With respect to the prices, there are two things that you need to remember which are the COE Rebate and PARF Rebate. If a particular automobile is de-registered before the expiration date of the Certificate of Entitlement, then you can get a corresponding COE Rebate. On the other hand, PARF Rebate is earned when the vehicle is de-registered before its 10th year of age. Take note that a car that is more than ten years in use is already ineligible for the second type of rebate.
What you need to remember is that the de-registration must be made before the expiration of the Certificate of Entitlement in the case of COE Rebate or before the 10th year of the vehicle in case of PARF Rebate. You also need to know that once the COE expires, the car is no longer allowed to be on the road. This is certain arrangements must be made at least one month before the expiry date. Make sure that you follow all the laws and regulations with respect to the disposal of your old automobile. Failure to do this can result to some problems in the future.
The scrap value of the car is indeed affected by many factors. A higher scrap value means a higher benefit on your part. This is why you need to find the best dealer available in the market. Each of these dealers follows a certain table to determine the amount of rebates. However, they can still give different scrap values because they consider other variables. Find the company that can give you the highest scrap value.