Preferential Additional Registration Fee (PARF) Benefit Of An OPC / Revised OPC
A. For Cars Originally Registered As OPCs
If you scrap or export your OPC before it reaches 10 years old, you can apply for the PARF benefit; if eligible.
Click here for more information on PARF/COE Rebates.
B. For Normal Cars Converted To The OPC Scheme Before 25 January 2010
On top of the PARF benefit, you may also be given an additional PARF benefit, which is computed as follows:-
Lifespan as Converted OPC (in months & days) x ($2,200/12)
Click here to see Example 2
Subject to PARF-eligibility of the OPC, this additional PARF benefit will be paid out only upon deregistration of the OPC.
C. For Normal Cars Converted To OPCs Under The Revised OPC Scheme On And After 25 January 2010
On top of the PARF benefit, you may be granted a cash rebate of up to $1,100 for every 6 months of registration as an OPC under the revised OPC scheme, until the car reaches 10 years old. The car must be kept as an OPC under the revised OPC scheme for at least 6 months after its conversion, except in cases of deregistration or when the OPC reaches the age of 10 years, to enjoy the cash rebate. The 6-monthly cash rebate will be computed as follows:-
where:
| QP (Bid Cat) | is the actual Quota Premium paid at registration |
| Actual Green Vehicle Rebate | is the actual green rebate utilised at registration (if applicable) |
* Amount capped at $17,000
Note: The above formula applies only for a full 6-month cash rebate period. Adjustments will be made for any pro-rated cash rebate period, e.g. due to lay-up, deregistration, etc.
No OPC cash rebate will be given for the period when the car is laid-up.
D. For Normal Cars Converted To OPCs Before 25 January 2010 And Subsequently Converted To The Revised OPC Scheme
Subject to PARF-eligibility of the OPC, if you opt into the revised OPC scheme, you will enjoy a one-time payment of the accumulated additional PARF rebate, which is computed as follows:-
Lifespan as Converted OPC Under The OPC Scheme (in months & days) x ($2,200/12)
Click here to see Example 2
In addition to the one-time payment of the accumulated additional PARF rebate, you may be granted a cash rebate of up to $1,100 for every 6 months of registration as an OPC under the revised OPC scheme, until the car reaches 10 years old. The car must be kept as an OPC under the revised OPC scheme for at least 6 months after its conversion, except in cases of deregistration or when the car reaches the age of 10 years, to enjoy the cash rebate. The 6-monthly cash rebate will be computed as follows:-
where:
| QP (Bid Cat) | is the actual Quota Premium paid at registration |
| Actual Green Vehicle Rebate | is the actual green rebate utilised at registration (if applicable) |
* Amount capped at $17,000
Note: The above formula applies only for a full 6-month cash rebate period. Adjustments will be made for any pro-rated cash rebate period, e.g. due to lay-up, deregistration, etc.
No OPC cash rebate will be given for the period when the car is laid-up.
