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Car Scrapping

November 30, 2022 by admin

For car scrapping, most people assume that their car will be crushed. Then, it will be turned into a metal cube. However, this is not the case.

In this post, we will talk about the various stages that your car goes through after it has arrived at a scrap yard. A detailed inspection will be conducted to determine if the parts can be recycled or sold.

Car Scrapping in Singapore

Components that are high value include transmissions, engine mounts, and alternators. If they are worth a lot, these parts can be sold to workshop mechanics or motor enthusiasts. If the profits from the sale aren’t made, the car will be sent to a scrap yard for dismantling and recycling.

The car’s components will be removed, such as the wheels, engine, and battery. In addition, all engine parts must be drained of fluids since they can contain harmful chemicals. Once all of these have been taken out, the car will be completely stripped. Remaining parts will only remain on the chassis. Most profitable parts will be sold to car enthusiasts or repaired.

Most of the car’s components can be repurposed into various useful materials. For instance, leather seats can be used as furniture, while the windows can be made into floor tiles, jewelry, and glass beads. Parts made from iron and steel can also be used in construction projects.

In addition, tires can be repurposed into new pavement bases for roads. If your vehicle got damaged in an accident, it’s highly probable that it will be sent to the car crushing plant if the parts are not able to be repaired. The crushing machine is a large industrial machine that can flatten or compress a car until it resembles a cube.

Once it has been crushed, it will either be stored at a metal recycling facility or recycled. If you are planning on scrapping your car, you can get a more competitive quote by contacting a local dealership scrap yard in Singapore like us.

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Should You Scrap or Export Your Car?

November 12, 2022 by admin

Should you scrap or export your car? The COE price has been increasing and renewing the COE seems more affordable for most Singaporeans.

However, if your COE is about to expire and the renewal is not possible, you have to deregister your vehicle. Before you can do so, you have to decide if you want to export or scrap your car.

Some people choose to export their vehicle because it’s more money, while others don’t want to export their car due to its condition or old age. Regardless of which option you choose, you’ll get the money back based on the value of your vehicle’s deregistration.

Know the Value of Your Car

Before you make the decision to export or scrap, it is good to understand the value of your car first. A car that has its COE renewed for another 5 or 10 years is considered a COE vehicle. This means that it can get a rebate from the government when it deregisters.

However, this doesn’t mean that you can get a full refund of your COE. Instead, you can get a partial refund of your deregistration value. For instance, if you have a vehicle that has yet to renew its COE, you can get a rebate from the Public Automotive Reserve Fund (PARF) on top of remaining COE.

The value of your car’s deregistration is computed by taking into account the various factors that affect its resale value. This is the deregistration value or paper value. The final deregistration value is the total of COE rebate and PARF rebate. Your PARF rebate will depend on the Open Market Value known as OMV.

Exporting Your Car

Some overseas dealers will pay higher price for your car if it’s a certain make and model. Generally, car exporters will give you a higher selling price than scrapping yards. However, before you can sell your car, you have to meet a couple of requirements. These include if it’s a popular model and if it’s in good condition.

If your car doesn’t meet these requirements, you might not get a high offer from an exporter. In some cases, they won’t even take your car. When it comes to car export prices, the rates depend on various factors such as the profit margins that car scrapyards and exporters have calculated for each vehicle. The demand and popularity of each model may vary in different countries.

Some cars are more valuable to an overseas dealer due to their sturdier construction. However, if you have time to ask for the best price from various exporters, you might have some room for negotiation to get a slightly better price.

Scrapping Your Car

The deregistration value and the body value of your car are two important factors that you should consider when it comes to determining the worth of your scrapped car. While the former is dependent on factors such as the make and model of the car, the latter is affected by the supply and demand of car bodies. For instance, if you have a car with a high number of registrations 10 years ago being a popular model, the scrap value of your vehicle will be lower now.

Before you can get your car registered, you’ll need to take it to an LTA-approved scrapyard. Once you have successfully registered your vehicle, you’ll need to find a way home. The facility will pay you for the car body on the spot, though you might not be able to get much money for it. To get the deregistration value of your vehicle, you’ll need to wait for the LTA to give you a confirmation regarding your rebates.

Conclusion: Scrap or Export Your Car?

Scrap or Export

The most efficient way is to get a few quotations from exporters/scrap yards. In the end, it all depends on the valuation of your car based on the current demand.

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How to Scrap Your Car in Singapore?

November 5, 2022 by admin

In Singapore, you can scrap your car by yourself or appoint a scrap yard in Singapore to do it for you.

Deregister Your Car by Scrapping or Exporting

The registration of your vehicle can be canceled. Once it has been deregistered, your vehicle can no longer be used or kept in the country. You can dispose of your vehicle by scrapping it or storing it in an export processing zone.

Car owners who want to get rid of their old vehicles in Singapore will have a responsibility to either deregister them or sell them. There are two ways that people can dispose of their cars in the country:

Either they can export it to get more money,
Or they can sell it to a scrap yard.

You have to get rid of your vehicle either by scrapping it, exporting it, or storing it in an EPZ while waiting for export. After you have disposed of your vehicle, you can get a rebate from the PARF/COE program depending on its age and type. If you fail to provide the necessary documents to the LTA on time, it is an offense.

A step-by-step guide to scrap your car in Singapore

1. Deregistration of your car

If you’re planning on scrapping your car, then you need to deregister it. Doing so will allow you to surrender ownership of the vehicle to a scrap yard or disposal center. Failing to do so could result in either a fine or imprisonment.

You can do this process by deregistering your vehicle online through the OneMotoring website of the Land Transportation Authority. However, before you can do this, you must first clear any outstanding payments like car loans and road taxes.

2. Get back your remaining COE and PARF

After you have officially deregistered your vehicle, you can start applying to the Land Use Authority (LTA) to encash your Preferential Registration Fee (PARF) or Certificate of Entitlement (COE) rebates.

The LTA will review your application within 12 months from the date of your vehicle’s registration. The PARF rebate will only be given if your car is less than ten years old. On the other hand, the COE rebate will increase if the duration of your COE remains longer. You can find the COE and PARF rebate forms on OneMotoring’s website.

For car owners with Singpass, you can log in and follow the instructions. Then, your rebate will be issued by LTA in about two to four weeks. You can also make an appointment to submit the application form at the company’s Customer Service Centre.

For car owners who are not eligible for Singpass, you can write in via LTA Feedback Form to make an appointment to deregister your vehicle at LTA Customer Service Centre.

3. Valuation of your car

To start your car valuation, you can find a Singapore scrap yard that is LTA-approved. Schedule an appointment with them to get an evaluation of your car. The value of your car depends on its body and model, as well as the demand and supply of its secondhand parts. Some scrap yards can provide the valuation via a phone call. However, it is better to drop by personally to get an exact valuation.

Before visiting the scrap yard, remember to bring your NRIC and deregistration document from LTA. Naturally, you also need to clear all of your vehicle outstanding payments.

4. Inform LTA

Lastly, inform LTA that your car has been scrapped/exported by submitting the proof to them. You must provide proof that your vehicle has been exported, scrapped, or stored in an EPZ within a month of deregistering it.

If you fail to do so, you could be fined up to SGD 2k or imprisoned for up to three months. If convicted more than once, you could face up to six months in prison or be fined up to SGD 5k.