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Source:
www.lta.gov.sg
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Conversion of 5-Year COE Cars Aged Between 30 And
35 Years Old into Classic Car Scheme |
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From 24 March 2008, owners with cars between
30 and 35 years old from the original date of registration and who renew
the COE for five years can re-register their car as a classic car when
it is at least 35 years old and before the five-year COE expires.
Previously, such vehicles had to be de-registered at the end of the
five-year COE even though they met the 35-year age criteria required
under the Classic Car Scheme. |
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This change provides flexibility to
classic car owners-to-be, as it allows them to bridge the gap
before their cars reach 35 years old and are eligible for
conversion to the Classic Car Scheme. |
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If an owner decides not to re-register the
car as a classic car at the end of the five-year COE period, the car
must be de-registered as no further COE renewal will be allowed upon
expiration of the five-year COE. |
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Background information on the Classic Car
Scheme |
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The Classic Car scheme was introduced in
July 2000 to enable classic car enthusiasts to realise their aspirations
of owning well-preserved cars of a bygone era that are of some heritage
value. |
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Cars that are at least 35 years old
based on the original date of registration can be converted to
classic cars upon payment of an administrative fee of $100, 10 per
cent of the Prevailing Quota Premium (PQP) of the respective
category at conversion and an annual road tax of $280. Upon
conversion from the normal car to classic car, the normal car's COE
would be cancelled and any unused portion of the COE will be granted
to the owner as COE rebate. The COE rebate can be used to offset the
10 per cent PQP payable to convert the normal car to classic car. |
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Registration of imported classic cars
that are at least 35 years old from the first date of registration
in a foreign country is also allowed, subject to the payment of the
excise duty, registration fee, additional registration fee, 10 per
cent of the Prevailing Quota Premium and the annual road tax of
$280. |
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The use of classic car is restricted to
28 days per calendar year (inclusive of weekends and public
holidays). Classic cars cannot be converted into normal cars or
Off-peak cars. |
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Source:
www.lta.gov.sg News Release 24
Mar 2008 |
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Important
Notice |
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FrontPage Edition: Thu 27 March 2008
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