What To Do With My 10 Year-Old Car? Your Smart Guide
Sell, scrap or renew. If you have an eight to 10 year-old car, you have choice. Good when the choice is simple, not so good when it involves both math and acronyms. We like to make complicated things simple, so here’s a quick guide to your options, and simple steps to help you navigate the process.
Option 1: De-Register Your Car
A vehicle owner is responsible for the de-registration and proper disposal of his de-registered vehicle.
The de-registered vehicle must either be scrapped at an LTA Appointed Scrapyard, temporarily stored at an LTA Appointed Export Processing Zone pending export, or exported out of Singapore. Proof of disposal of the de-registered vehicle must be submitted to the LTA.
Buying a new car?
Re-insure with DirectAsia – receive up to $150 Petrol Vouchers with comprehensive car insurance. Find out more here.
Option 2: Renew Your COE
If you want to continue using a car after 10 years, the car’s COE must be renewed. The cost will depend on the Prevailing Quota Premium (PQP). When the vehicle is de-registered, the COE rebate will be available at this time, giving rise to the name COE Car.
Renew your comprehensive car insurance with DirectAsia – receive up to $125 Petrol Vouchers. Find out more here.
More Insider Tips
Expert help to buy or sell your car. Plus we explain those key acronyms COE, PQP, OMV and PARF, saving hours of your precious time!
Save Time + Money, Now
Buying car insurance with DirectAsia is as easy as 1,2,3. Choose the plan you want, pay the way you want, you’re insured! Get a quote and find out how you can save up to 25% on your car insurance or call us at 6665 5555 now.
*Compared to leading car insurers. 16% of DirectAsia customers would save $300 or more compared to the estimated average premium across leading insurers. Cheapest based on average price of more than 12,000 cases, compared to leading car insurers.