What is Car Deregistration?
Is your car nearing it’s COE Expiry date and you are looking for what available options are there to dispose of your old vehicle? You have just come to the right place as in this article, we will be discussing about what is car deregistration and the available options that are available to you. Deregistration of a vehicle can be simplified as the more common term known here in Singapore is “scrapping your car” at the 10-year mark. Where you do not renew the COE of your vehicle. However, there are many intricacies being the term “scrapping your car” and not all are equal.
Firstly, the two options available when deregistering your car are as follows, you can choose to deregister it yourself or choose to deregister with an LTA authorised agent for better peace of mind. Below, we will compare and contrast the two options available and you can make the decision of which is the best option for you.
Deregistering your vehicle on your own.
If you choose the first option, to deregister the vehicle yourself, you will be required to go through the steps and procedure for deregistering which involves some paperwork and it may be seemed as quite a hassle to go through it all by yourself. Based on the LTA guidelines, when you choose to deregister your vehicle, it must be disposed of either by scrapping it at an LTA appointed Scrapyard, exporting it or store it in an Export Processing Zone (EPZ) which means that it is pending to be exported.
From experience, in most cases where your vehicle is in good running condition, exporting your vehicle even after all export costs will be the more profitable option than just scrapping it at our local scrapyards. However, that being said, do note that if you choose the option to export the vehicle yourself, there will be additional documents required as proof such as export documents via freight or land and a true copy of foreign vehicle registration of your vehicle. Which is why some may still choose to just scrap their vehicles locally as it is overall a much simpler process.
After which when the vehicle is deregistered, will you be granted the PARF or COE rebates your whichever your vehicle is eligible. (This process will usually about a week or two if you choose to deregister your vehicle yourself.) To find out more on how the PARF and COE rebates as well as the car body value, you may wish to read on our other article which helps you estimate the total scrap value of your vehicle! Take note that the car body value will not be given by LTA, and it is the amount received in addition to the PARF/COE when deregistering your car via scrapping or exporting with the counterparty. It is also important to take note that it is an offence if you fail to deregister and dispose your vehicle on time as well as keeping or using a vehicle which has been deregistered. If your vehicle is nearing its COE Expiry Date, it might be time to start preparing the process of deregistering your vehicle.
If you are up for it and want to deregister your vehicle yourself, proceed on with your choice of deregistering your vehicle, be it scrapping or exporting it. Once you have decided and contacted the relevant counterparty for the deregistration, upon reaching either the scrapyard, EPZ or when exporting it yourself you will have to use Singpass 2FA to do the deregistration online. In the event where Singpass is not an option for you, you will be required to make an appointment to deregister your vehicle at the LTA Customer Service Centre (www.lta.gov.sg/feedback) and will most probably require you to have the vehicle towed to your preferred location for deregistration. In the case where Singpass is not an option for you, we suggest using latter option to deregister your vehicle.
Source : https://onemotoring.lta.gov.sg/content/onemotoring/home/selling-deregistering/deregister-a-vehicle.html
Deregistering with an LTA Authorised Agent
If you choose to proceed with an LTA Authorised Agent such as us to deregister your vehicle for you, we can guarantee that the process will be a pleasant and smooth one. We will be doing the abovementioned steps for you. However, instead of having to do all the paperwork yourself, we do it for you. This allows you to get the best of both worlds where you get the best prices for the least amount of effort. How is that possible you may ask? With over 25 years of experience and expertise in this industry, we are able to assist with the entire process of exporting your vehicles while keeping relevant costs lower than if you were to do it yourself, in addition to that we are a direct exporter and do not go through any third party which can reduce the final amount you receive.
All you have to do is press the “Get a Quote” button above fill in your details and we will provide a quotation with the highest prices for your vehicle since we are a direct exporter. The added value of convenience you get from having your car deregistered by us is unparalleled as you can choose to deregister your vehicle on the last day of the COE Expiry date and more importantly at your convenience. If that is not enough to convince you, instead of waiting for your vehicle to be exported before receiving your car body value or waiting for the PARF/COE Rebates, we will pay you the full amount immediately upon collection of your vehicle. If you have any outstanding loans, we will proceed with the settlement on your behalf with any remaining balance returned to you at no additional costs as well.
All in all, the deregistration process is one which can be rather complex especially so when you decide to export the vehicle overseas. The steps and procedures in place are daunting and many of our customers who chose to use our services to have their cars exported would otherwise not have been able to do so themselves. We hope that we have allowed you to get a better understanding of deregistering your vehicle in Singapore and allow you insights on other options than just scrapping at our local scrapyards in Singapore.
