OPC (off-peak-car) ~ COE Rebate S$17K

hp28 SG

COE rebate for OPC are S$17k, what if COE fall below S$17k ?

Example :-
COE S$19k less S$17k (rebate) = S$2k

COE S$10k less S$17k (rebate) = -S$7k ???

So this -S$7k have to be forfeited or will deducted against the car price ?

Anyone can advice ?
Shocked
Thanks...

BlueSparkle SG

someone correct me if i am wrong…if COE is below $17k, the rebate will eat into the PARF value. I think…

wbucket SG

The remaining rebate will be used to off set the ARF, not PARF. If still in excess, then not very sure. Maybe forfeit.

Ritz79 SG

hhmm… i think just minus $17k from yr car price. Than every yr got rebate of $800 from yr road tax, insurance will be a little cheaper..not that much, so dun expect e insurance to drop like hell…

hp28 SG

I think this nver happen b4.....

Maybe this round COE bidding ?

Laughing

Dijon SG

The $17k is offset against the PARF and NOT the COE.

COE rebate means that if the COE falls below that price, the dealer will refund you the difference.

E.g.

Normal car price = $77k
OP car price = $60k

COE rebate = $18k

Therefore if actual COE paid is $16k, the dealer will refund you $2k.

wbucket SG

From LTA web:
"An upfront rebate of $17,000 to be offset against the following items:

(a) COE Quota Premium
(b) Additional Registration Fee (ARF)

The rebate is first offset against the COE premium payable. Any excess is then offset against the ARF payable."

Since COE is a scheme to minimise the car on the road, so naturally off-peak cars should pay a lesser COE. Logical right?

The COE rebate you are talking about is the agreement between the sale and customer. LTA have no involvement in that. Different car dealers give different COE rebates. I used to heard Toyota's gave 20k a few months ago, I wonder if it is real a not.