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6% deduction on COE paper or net paper value?
- Thread starter BMW 3SM
- Start date
T6
Well-Known Member
BMW 3SM;143032 said:
There is no hard and fast rule on how a third party will charge you to dereg your car in terms of percentage deduction from your PARF papers. However, there is a "mkt" rate be it whatever percentage and this is dependent on the local demand for such papers to register new cars. The % represents the risk of the third party in holding on to the papers until a buyer come along to buy these papers.
If you are trading your car to a new car dealership, some of these dealerships may offer more competitive rates if they have an in-house policy. For e.g. a friend did not have to pay any % deduction when he trade din to Kah Motors. In my own case, my PARF was in excess of what could legally be used for the new car. So the balance unused portion of my PARF papers, I incurred 4% deduction from my dealership which was Car N Cars.
If the dealership does not have such a policy, then the sales executive can use his/her own lobang to help u. Along the way, whether the sales exec make anything from that deal only the sales exec knows.
Physicist
Well-Known Member
T6;143123 said:
Andy,
You should have bargained hard to not have any deduction from the unused portion. Afterall, you're buying a car from them and I personally find it ridiculous to get a deduction from the paper.
I would have shown them my middle finger and asked to take a hike (if I'm polite) or asked to fcuk off. Sorry if I sound rude:nehnehhh:
It is a market practice to get a deduction for papers.... friend sold off his old car without purchasing a new one and the export guy wanted to deduct 9 %...
I know for a fact that these guys sell the papers to agaents for a minimum of 6.5 - 7% and are paid only 5 -6 months later. At the peak i have lost up to 10% some years back. So 4% is very cheap already
