1. What is Singapore Car Depreciation?

In Singapore, a car's value depreciates based on the PARF (Preferential Additional Registration Fee) and COE (Certificate of Entitlement) rebates. The total value is the sum of these two components when you deregister your vehicle.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• PARF Value = OMV × 75% × (100% - 10% × years used) for cars used less than 10 years
• COE Rebate = (COE Paid / 10) × remaining COE years
• OMV — Open Market Value of the car
• COE Paid — COE price when car was registered
• Years Used — Number of years car has been used
• COE Duration Left — Remaining COE years when deregistering

3. Importance of Calculating Car Depreciation

Details: Understanding your car's depreciation helps in financial planning, deciding when to change cars, and evaluating the true cost of car ownership in Singapore's unique vehicle taxation system.

4. Using the Calculator

Tips: Enter the OMV (from your car registration documents), original COE price paid, years you've used the car, and remaining COE years when you plan to deregister.

5. Frequently Asked Questions (FAQ)

Q1: What happens after 10 years?
A: After 10 years, the PARF rebate is fixed at 50% of the original PARF value (which is 75% of OMV).

Q2: Can I extend COE?
A: Yes, you can extend COE for 5 or 10 years after the initial 10-year period, but this affects the PARF value.

Q3: Where can I find my OMV?
A: OMV is listed in your vehicle registration documents or can be checked on LTA's website.

Q4: How accurate is this calculator?
A: This provides an estimate. Actual values may vary slightly due to administrative fees.

Q5: What about commercial vehicles?
A: Different rules apply for commercial vehicles which don't qualify for PARF rebates.