Renewed COE

Atti SG

Hello pple,

Thought i may have a little knowledge on cars but i have very little knowledge on renewed car or COE.

For those who knows, pls help to verify......

Am i correct to say that if we buy a 10 yrs old car, the amount we pay is the car value of the COE and its scrap value?

So for example, a car scrap value is 14k, and the COE for the mnth is 32k, so if renewed this car for 10 yrs is gonna cost 14 plus 32k, so its 46k???

If this is true and we wish to renewed for 5 yrs only........ will it cos half the price of 46k? Cos scrape value by half and so is the COE, or is it that only the COE is halfed?

Any1 knows what the exact parf and OMV means also? Me just wana confirm what i know from these 2......... cos many pple often mixed them together........... like when we see parf, and OMV etc.......

Thanks and regards

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nOthiNg iS ImpOsSibLE In tHiS wOrLd
EvEn tHe wOrD ImPoSsiBLe SaYs "i'M pOsSiBLe"

[This message has been edited by Atti (edited 14 April 2001).]

Atti SG

Ermmm one more qns, wonder if any1 can help....... for e.g we buy a car with 1 yr left on the COE, is it possible to renew the 10 yrs COE on the spot if the price is good?

Thanks

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nOthiNg iS ImpOsSibLE In tHiS wOrLd
EvEn tHe wOrD ImPoSsiBLe SaYs "i'M pOsSiBLe"