Recently, I just bid farewell to my Toyota Altis after 10 good years of service. There have been many memories but decided not to renew the COE and get a new ride.
Would just like to share the process of scrapping my car and hope it will be useful for those whom might be going the same path in the future.
As a general rule, you will usually get back around 50% of your car PARF value and a token sum for your car body upon scrapping your car.
For my Altis, I got all in around 9500 with car body raking in 800 dollars as i have changed the original colour. If not it would have fetched around 1000 dollars.
So the usual path is to drive to a scrap yard and you can actually drive in at the last day of the month of your de-registration if you want to max out your car usage. They will process the paperwork and you can get your car body value from the scrap yard while the PARF rebate will come in 2-3 weeks later from Land Transport Authority.
Do take note you have to get a transaction pin which you can do it online at the onemotoring website and will take around 2-3 working days to reach you.
I have google and checked with different scrap yards and found Absolute Motors to be more approachable (This is just my personal experience).
However, I decided to go with EC Scrap eventually as they provide me with the convenience. They will come to your place and take over the car. Moreover, they will pay you upfront in cash the PARF rebate and car body value. The customer service experience is also very pleasant. The car body value they have quoted is also quite competitive as I have done some comparisons. My scrapping deal was coordinated with Eugene and his mum Elaine.
For those, who want to keep the number plate for memory sake, guess driving to the scrap yard will still be a better option.
Happy Scrapping for those who are near the 10 years cycle.