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If you deregister your vehicle in Singapore you may be entitled to rebates on your PARF (Preferential Additional Registration Fee) and COE (Certificate of Entitlement) costs.
Learn more about whether you’re eligible for these rebates - and how to get them if you are - with this handy guide.
|Table of contents:|
You’ll need a COE to buy a vehicle in Singapore.
You can get one by bidding during the open bidding windows which take place twice a month.
Once you have your COE you’ll be able to purchase a vehicle of the class covered by your certificate, and register it for 10 years. It’s also possible to have someone transfer their COE to you when you buy a second hand vehicle for example. ¹
When you deregister your car by taking it off the road in readiness for export, exporting or scrapping it, you may be entitled to get some of the fee you paid back. If your car is under 10 years old and therefore still covered under its original COE, the rebate you need to know about is a PARF rebate. If your car is older and is on a renewed COE, the rebate you need to apply for is called a COE rebate.²
If you’re not sure whether or not you’re entitled to a rebate you can enquire online at One Motoring - a Singapore government agency.³
If you’re exporting or scrapping your car because you’re moving away from Singapore you might need to send funds overseas as part of your relocation. Use Wise to save compared to using your regular bank for international payments.
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If you deregister a vehicle by scrapping it, exporting it or putting it into an approved storage prior to export, you may be able to apply for a rebate on your COE.
The amount you can get will depend on how long is left on the COE in the first place.
You’ll be able to apply for the rebate on the COE for up to 12 months after your vehicle is deregistered.
To be eligible for a rebate you will need to prove you have either had the vehicle scrapped at an Land Transport Authority (LTA) approved scrapyard, exported it, or have stored it at an LTA approved facility prior to export. You’ll also need to make sure you don’t have any outstanding traffic violations or debts on the vehicle.
The calculation to know how much you can reclaim is based on the amount you paid for the Quota Premium (QP) or Prevailing Quota Premium (PQP) in the case of a vehicle with a renewed COE.
|💡Here’s the sum you need to understand:|
|COE rebate = QP or PQP of 10-year COE paid x Total unused period of COE/120 months|
The exact details - and the caps which may be applied - vary according to several factors. How long the vehicle has been registered, whether or not you’re exporting it, and the class of vehicle all matter - so checking out the online tools and calculators over on the One Motoring website is the simplest way to check your entitlements. You can get a quote for a vehicle you may have deregistered or be planning to deregister, to make the process simple.³
PARF rebates apply to vehicles which are under 10 years old, and taxis under 8 years old.
The amount you may get will depend on the age of the vehicle and how much you paid for the additional registration fee. As with the COE rebate, you need to have cleared all outstanding matters with the authorities to get your rebate, and you’ll need to prove what’s happening to the car after deregistration.
Here’s the amount of PARF rebate you may receive based on the age of the vehicle:
|Age of vehicle at deregistration||PARF rebate available|
|Not more than 5 years||75%|
|Above 5 but not more than 6 years||70%|
|Above 6 but not more than 7 years||65%|
|Above 7 but not more than 8 years||60%|
|Above 8 but not more than 9 years||55%|
|Above 9 but not more than 10 years||50%|
|10 years or older||Nil|
Driving in Singapore isn’t cheap, so it helps to know about the rebates available to you if you’re leaving the country, or you decide to deregister your vehicle and get back on to the MRT istead. Use this as a starting point, and check out the rules and conditions over on the One Motoring website to make sure you have all the information you require to get your rebates arranged quickly.
- OneMotoring - Certificate of Entitlement (COE) | Upfront Vehicle Costs
- OneMotoring - Preferential Additional Registration Fee (PARF) & COE Rebate
- OneMotoring - PARF/COE Rebate Enquiry
Sources checked on 28 April 2021
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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