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Things to consider before scraping your car

Bidding for a new COE (Certificate of Entitlement) can be quite challenging. Majority of the people usually opt for scrapping or exporting the vehicle instead of endeavoring for the new COE.

If you are looking for a company which helps in exporting and scrapping your car in Singapore than www.ScrapMyCar.sg is undoubtedly the best.

However, before trading or exporting your car, there is a lot you need to consider. Knowing how to scrap my car in Singapore might seem a little challenging but is actually not.

Here is a collection of some things you need to know before scrapping your car. Have a look.

  1. Car Pricing of Car Scrapping:

Your car scrapping pricing mainly relies on supply and demand. The value or the amount you get for your car depends on several distinctive factors like supply and demand and make/model etc. Taking an example of the prices back in 2007 and 2008, registration of new cars was almost 10% less in comparison to 2004 and 2005. This indicates that the total cars being scrapped will be less and will eventually result in under-supply. However, the body of your car will have a higher scrap value. This clarifies that the pricing of the vehicle varies based on the different factors.  You can easily visit  LTA and get your task done.

  1. Various exporters, different benefits:

Different exporters tend to pay different, which relies on the market value of the scrap car in that region. As for Singapore, the scrap rate of the car is calculated through the PARF and COE rebate of the vehicle. Moreover, if you scrap your car a little early, you’ll get more price in the car’s COE rebate. So, before making the final decision, make sure you look for the different exporters and go for the highest value.

  1. Make sure you scrap your car on time:

Leaving things on the last minute can be risky for you. Once the car’s COE expires, you won’t be eligible to drive the car on the road, thus exporting will be difficult. Not only this, but you will also have to pay some additional amount for tugging and towing, etc. So, whenever you are thinking of scrapping your car, make sure it’s almost a month before the COE expires.

  1. Exporting is better than scrapping:

You get more value for your car if exporting is your option. The exporter puts up a price and exports your car to different countries all around the world, which is why the value you get is higher as compared to scrapping. In case, the vehicle doesn’t sell it is sent to the scrap yard for scrapping. You’ll get a comparatively less price. Therefore try preferring exporting rather than scrapping. Companies like www.scrapmycarsg.com will help you export car, giving you the best services and reasonable price.

  1. What is the value you’ll get?

Majority of the people are often confused about the total paper value, but in short, it is quite simple. The paper value of your car equals the total COE rebate plus total PARF rebate, which can be calculated quite simply.

Other than these five things finding the best company for scrapping, exporting and trading your car can be a challenge of its own as well. www.scrapmycarsg.com is one of the best companies which will not only help in shipping and trading but also assures to provide the best services in Singapore. So whether you want to export,scrap, trade or sell the car, make sure you contact ScrapMyCar.

To know more about the company, visit the site www.scrapmycarsg.com

 

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