Ex-Car Owners Can Encash Their COE or PARF Rebates
Monday, 1st September 2008
Vehicle owners may apply to the LTA to encash their unused and valid PARF/COE rebates. This is to make it easier for car owners to give up their cars and switch to public transport. This ties in with the overall effort to make public transport a choice mode for all commuters, including current car owners.
Individuals can apply to encash your rebate only if you have settled all outstanding matters, eg. road tax arrears, etc. on the vehicle with LTA and have already submitted export documents to the satisfaction of LTA, scrapped the vehicle at an authorized scrap yard or have it stored temporarily at an authorized Export Processing Zone. In addition, if your vehicle is under financing, you are advised to quickly settle the financing with your finance company.