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Post by velocity on Aug 11, 2008 16:47:50 GMT 8
I am considering converting my cerato from normal to OPC but have the following doubts in mind: 1. do I still need to pay the same amount of car hire-purchase every month? 2. if converted to OPC, how much is the parking for MSCP? 3. how much is the road tax and do I have to pay the same premium for insurance?
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Post by tonyong21 on Aug 11, 2008 16:58:18 GMT 8
1. I think u still need to pay the same every mth... 2. MSCP is $90 if i am not wrong... 3. road tax for my rio is $50. think all the same... insurance got slight rebate as its opc... think tts the same if u convert...
correct me if i am wrong...
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Post by ceratov2m on Aug 11, 2008 17:13:18 GMT 8
I am considering converting my cerato from normal to OPC but have the following doubts in mind: 1. do I still need to pay the same amount of car hire-purchase every month? 2. if converted to OPC, how much is the parking for MSCP? 3. how much is the road tax and do I have to pay the same premium for insurance? Yr answers as follows: 1. Yes, u need to pay same amount of hire-purchase every month. 2. No changes for parking charges of MSCP as it's still a car taking up the space in the parking lot. 3. Road tax is reduced to at least 50% of yr current road-tax and premium for insurance for OPC varies from different companies. U might wanna click www.onemotoring.com.sg to find out more!
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Post by velocity on Aug 11, 2008 17:18:09 GMT 8
Looks like there's not much benefits to convert to OPC. How about selling ride to carmart and then get a OPC car from there? Do I need to pay off the bank loan for the normal car first?
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Post by tonyong21 on Aug 11, 2008 17:23:55 GMT 8
its not really worth converting to opc... my fren also had considered but after calculating.. he find tt its not worth...
u need to clear off the outstanding loan even if you sell to carmart if i am not wrong.
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Post by psyfool7 on Aug 11, 2008 19:26:12 GMT 8
OPC road tax only $50 for 1 yr...plus radio licence adds up to $75.. ...There's a bit of discount on insurance for OPC.. MSCP charges is the same, but if u think abt it, really worth the $90 coz car is parked there most of the time...under shade.. ;D..but, every month die2 muz buy parking, if not sure kena fined by overzealous parking attendents...
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Post by civicblade on Aug 11, 2008 20:12:37 GMT 8
There is a plus point if you intend to convert and drive until scrap or drive as an opc for a couple of years.
This is because the government will give you additional PARF benefits of $2200 per year for a normal car converted to an OPC.
The additional PARF can now be cashed out from LTA if you scrap your OPC then.
Another plus point is that you can convert back to a normal car anytime you want. No need for top up, just pay the $100 adminstrative fees.
The $2200 per year for 10 years is $22000. Which is more than the $17000 upfront cash rebate given by the LTA for registering a new car as an OPC.
Technically, it is more worthwhile to convert a normal car to OPC than to register a new OPC car if you think in terms of 10year car lifespan.
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Post by alvin82sg on Aug 11, 2008 20:46:43 GMT 8
if not find a bro to swap car loh. you take over his loan, he take over your loan. both party happy.
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Post by guerrierz on Aug 12, 2008 13:46:03 GMT 8
Hi bro Velocity, me also thinking of converting my ride to OPC... Still in brainstorming process.... pros and cons.. i've bought a bike to use daily just to simulate my car as weekend... However a bit troublesome and still trying to see if me and wife can adapt to it... Monthly payment to bank will still be the same... but after u use for about 4yrs as weekend(depend on how much u own and pay monthly)... can scrap the car and no top up needed... then can change new car... which makes me really think of converting... bro civicblade, But is it true i can convert it back to normal again?? so will i still get the additional rebate for the years i used for weekend?? If can then it will gd news for me....
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Post by civicblade on Aug 14, 2008 8:30:47 GMT 8
Hi Guerrierz,
It is good news for you. The additional parf will be attached to your vehicle for the period that your car was made OPC. If you drive for one year as an OPC and convert back, you get an additional $2200 on top of your normal PARF when you decide to de-register the car.
Just spend $100 at LTA to convert back to normal car. Of course, you need to pay for making modifications to the number plate.
In my opinion, this is a good incentive for current normal cars owners to convert to OPC and switch to public transport.
I have a bike but the bike is more of an off peak bike as I only ride during weekends and nights for leisure purposes.
I've tried commuting to work on the bike, feels better than driving if it isn't raining.
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joao
Neutral Gear
Posts: 42
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Post by joao on Aug 14, 2008 14:26:52 GMT 8
Actually i feel converting normal car to OPC is not very worth leh... but its up to individual la, the best is still to get an OPC rite fr the start. The rd tax and insurance(bout 15%) will b cheaper for OPC owners... carpark same price, in fact they never charge more already happy cos OPC supposely spend more time parked den on the rd LOL
My 1.6 Cerato rd tax is 150 per yr, but annually have to go inspect the number plate to make sure never tamper with it
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Post by guerrierz on Aug 14, 2008 15:45:12 GMT 8
Civicblade, Thanks for the confirmation. will really need to think abt it now... hopefully can adjust my travel style.
Actually for normal car, this is one of the best way out for us to change car if we do not want to top up xtra cash which can be substantial.
the cons : need to adjust usage with the WeekEnd Car.(this is difficult if u have been driving normal car for years :-) monthly repayment will still be same(not much problem).
Pros : Cheaper road tax/insurance : additional parf... : once tired of wec, can convert back to normal without forking out a lot of money.. : Can scrap car and settle loan... next car pls... ;-)
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Post by laser12 on Aug 14, 2008 22:59:00 GMT 8
Hi,
My 1st car was a converted OPc some years back and I have really gain with the Additional ARF from the conversion when I scrap I have about $6000 more in paper value which have assist me to cover the initial patment for my subsequent cars till the Kia today.
Really need to be very discipline thoughwhen using Off-peak cars especially when u are rushing in the early morning, sometime they are usexpected jams along your route and u may end up at your destination say 7.15am.
I have friends who miss the timing and kena hefy fines and couple of them jail for tampering with the coupons. T mistake of trying to save $20 due to just a few minutes is a misconception. earliest timing caught was 7.08am...
Just a consideratio if u wan to convert, the $3000 ($2200 AARF + $800 road tax rebate)per year savings may not be enough when things like this happen.
Other wise an OPC is a good choice.... Cheers!
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