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To get the scrap value there is a simple formula that you can use. In this case, we will talk about COE rebate which is the money you get back on the portion of years that you haven’t used on your current vehicle.
For example if you have about 3 months left on your car, your COE rebate will be 3 months divided by 120 months which is total 10 years multiplied by the sum of the COE from the same tender exercise when you purchased your vehicle.
The second component is PARF which basically says that at years 9 to but not exceeding 10 years, the PARF rebate is 50% of ARF paid. Do this simple calculation and you’ll get the amount if you scrap your car.