What is OMV?

[Bouncetheking]

Hi,

 

May anyone explain what is OMV? What does it stands for and how is the value being calculated?

 

Is a high OMV good or bad?

 

OMV doesn't come into consideration when scrapping back the bike right? Can't get the OMV value back right?

 

I appreciate all advise provided.

 

Thanks.

[AR2 Performance]

Hi,

 

May anyone explain what is OMV? What does it stands for and how is the value being calculated?

 

Is a high OMV good or bad?

 

OMV doesn't come into consideration when scrapping back the bike right? Can't get the OMV value back right?

 

I appreciate all advise provided.

 

Thanks.

 

 

"May anyone explain what is OMV? "

 

Open Market Value commonly known/referred as OMV in SG.

 

OMV is in layman terms, simply means how much does it cost to bring your vehicle into SG WITHOUT TOUCHING THE ROAD, which means how much ur vehicle is valued.

 

In non layman terms, the amount dictated is based on the price actually paid or payable for the goods when sold for export to the country of importation. This price is assessed by the Singapore Customs, which includes purchase price, freight, insurance and all other charges incidental to the sale and delivery of the motorcycle/car to Singapore.

 

OMVs differs between makes/ccs & it does not include vehicle taxes (AF, ARF, etc. In the case of motorcycles :-

 

Registration Fee (RF) = $140

Additional Registration Fee (ARF) = 15% of OMV

Excise Duty =12% of OMV

 

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"Is a high OMV good or bad?"

 

High OMV is good.. only when i was before May 2002. Why? Coz the PARF value (% of OMV, commonly known as re-bate) when scrapping cars was still up to 80% of OMV even after 8 years!

 

So you get back a large amount of $$ when your scrap your vehicle.

 

But after May 2002, they restructured (in an effort to reduce many environmental & economic factors) such that its like 50%? So if u had a high OMV car before the restructuring, good luck coz you can't sell it at what is was valued at. i.e. you lugi alot..

 

http://www.lta.gov.sg/motoring_matters/motoring_vo_tax_rental.htm

Oh forgot to mention. Motorcycles not included..

 

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[brack]

Cool explaination.. but govt really took alot $$ compare to other country... OMV COE and all other charges all include are sufficient to buy a new car.. so sad tat singapore is small and cos us alot when we need the road...

[Bouncetheking]

hi AR2 Performance,

 

thanks for the explanation.

 

If I scrap my motorbike, I will get back 100% of my OMV? Or i may get other amounts based on your info provided about ARF and excise duty?

[AR2 Performance]

hi AR2 Performance,

 

thanks for the explanation.

 

If I scrap my motorbike, I will get back 100% of my OMV? Or i may get other amounts based on your info provided about ARF and excise duty?

 

The amount you get back is always a % of the OMW = PARF. The % amount (so called PARF) depends on LTA structuring. Cars registered before May 2002 & after May 2002 belong to 2 different category, which is then sub-categorized in to number of years.

 

Bikes.. if I am not wrong, you get back zero.

[Bouncetheking]

wa kow...

 

thanks again for the explanation. No wonder I didn't see ppl scraping their bikes unlike car owners...

[eement]

bike=0?wat sia

[bapecraze]

wa kow...

 

thanks again for the explanation. No wonder I didn't see ppl scraping their bikes unlike car owners...

 

Wrong~ there are actually alot of bike scrap yards in singapore.

 

27 Jalan Buroh,

Ah Ann trading..

Opening 9am - 5pm

 

Hup Lee Leong Hardware Pte Ltd

26 Sungei Kadut St 3 Singapore 729153

Tel: 6363 5055 6367 0019

 

Mondays to Fridays:

8.30am - 6pm

Saturdays:

8.30am - 5pm

 

Kim Hock Recycling (Pte) Ltd

10 Benoi Road

Singapore 629885

Tel: 6862 3883

 

Mondays to Fridays:

9am - 12pm, 1pm - 6pm

Saturdays:

9am - 12pm, 1pm - 5pm

 

King's Metal (S) Pte Ltd

16 Pioneer Sector 2

Singapore 628377

Tel: 6862 1955

 

Mondays to Fridays:

8.30am - 6pm

Saturdays:

8.30am - 5pm

 

Lim Asia Steel Pte Ltd

11 Pioneer Sector 3

Singapore 628346

Tel: 6862 9109

 

Mondays to Fridays:

8.30am - 5pm

Saturdays:

8am - 1pm

 

NatFerrous Pte Ltd

(Natsteel)

9 Jurong Pier Road

Singapore 619161

Tel: 6268 2862

 

Mondays to Fridays:

8am - 4pm

Saturdays:

8 am - 12pm

 

YLS Steel Pte Ltd

1 Wan Shih Road Singapore 627901

Tel: 6861 9833

 

 

Mondays to Fridays:

9am -6pm

Saturdays:

9am - 1pm

 

 

Got this info from http://www.singaporebikes.com/forums/showthread.php?t=146855

[AR2 Performance]

Wrong~ there are actually alot of bike scrap yards in singapore.

 

27 Jalan Buroh,

Ah Ann trading..

Opening 9am - 5pm

 

Hup Lee Leong Hardware Pte Ltd

26 Sungei Kadut St 3 Singapore 729153

Tel: 6363 5055 6367 0019

 

Mondays to Fridays:

8.30am - 6pm

Saturdays:

8.30am - 5pm

 

Kim Hock Recycling (Pte) Ltd

10 Benoi Road

Singapore 629885

Tel: 6862 3883

 

Mondays to Fridays:

9am - 12pm, 1pm - 6pm

Saturdays:

9am - 12pm, 1pm - 5pm

 

King's Metal (S) Pte Ltd

16 Pioneer Sector 2

Singapore 628377

Tel: 6862 1955

 

Mondays to Fridays:

8.30am - 6pm

Saturdays:

8.30am - 5pm

 

Lim Asia Steel Pte Ltd

11 Pioneer Sector 3

Singapore 628346

Tel: 6862 9109

 

Mondays to Fridays:

8.30am - 5pm

Saturdays:

8am - 1pm

 

NatFerrous Pte Ltd

(Natsteel)

9 Jurong Pier Road

Singapore 619161

Tel: 6268 2862

 

Mondays to Fridays:

8am - 4pm

Saturdays:

8 am - 12pm

 

YLS Steel Pte Ltd

1 Wan Shih Road Singapore 627901

Tel: 6861 9833

 

 

Mondays to Fridays:

9am -6pm

Saturdays:

9am - 1pm

 

 

Got this info from http://www.singaporebikes.com/forums/showthread.php?t=146855

 

 

Hey I like your info..... wished I saw ur post when I was on NSR125 & CBR400-J (hurricane). Was looking for parts ... aarggghhh

 

By the way, there are alot of scrap yards.... What Bouncetheking meant was no one srcap bike to take back $$..

 

[Baal]

Finally found it !! Btw any bro here can share the OMV value indicated in the COE cert for their bikes? Maybe can start with the 400X & Super 4 Revo ? From there will be able to calculate the seller's profit margin %. As machine price I believe is OMV + 27% tax + seller's profit.

All bikes OMV info are welcome. Thanks.

[FireGunz]

Thank for sharing.

 

Sent from my SM-N9005 using Tapatalk

[teambhp]

The amount you get back is always a % of the OMW = PARF. The % amount (so called PARF) depends on LTA structuring. Cars registered before May 2002 & after May 2002 belong to 2 different category, which is then sub-categorized in to number of years.

 

Bikes.. if I am not wrong, you get back zero.

Correct lor. That's why I say bike have zero value when coe expires.then a lot of people here cannot accept the fact n start to ask ridiculous questions which I do not want to answer

[marlboromarlboro]

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