Open Market Value means the value of yr car at the point of
scrap. Yes, PARF value is normally 80% of yr OMV. That means, when
u scrap yr car, u will get back the PARF value. Though car with
higher OMV is better, u shud also consider how deep yr pocket
is($$$) when u select a car. Jap cars like Toyota Corolla and Honda
normally have higher OMV than average cars... that is why they cost
higher also when u purchase them from 2nd Car Dealers.
Do not try to rush buying a car as dealers normally raise up the
price by a few thousands of $ at least.
Take yr time in selecting and good luck!