Cash for dereg cars

[Guest gp]

Motorists can soon get cash when de-registering cars

From September, motorists will be able to get cash when de-registering their cars.

This follows the completion of a review of the Preferential Additional Registration Fee and Certificate of Entitlement rebates which was announced in March.

The review was conducted with a view to making it easier for car owners to give up their cars and switch to public transport.

The Land Transport Authority or LTA says that motorists who want to exchange their rebates for cash can do so through the One.Motoring portal from September the 1st.

Alternatively, they can mail the completed application form for encashment.

The form can also be found on the One.Motoring portal.

LTA says it will provide more details on the procedures nearer the implementation date.

To facilitate the implementation of this change, P-A-R-F and COE rebates that are still valid and un-used with expiry dates between July and September 29th this year will be extended to September the 30th.

Affected owners will receive a notification from the LTA on the revised expiry date of their PARF/COE rebates within the next 2 weeks.

LTA says motorists can also continue to use their rebates to offset the upfront taxes payable for a new vehicle as is the current practice.

The rebates will also continue to be transferable and be valid for 12 months.

[Guest jenvid]

hmm... car price is gonna go up by 5% liao....