Renew vs Scrap Calculator
Compare renewal, replacement and going carless using your own cost assumptions.
Compare ten-year totals below. Five-year renewal is shown separately. Monthly figures are averages, not loan payments.
Current Vehicle
This comparison covers cars aged up to 10 years on their original COE. Already renewed COEs need their current term and expiry date to estimate unused rebates.
For COE-exempt cars, use registration dates: before 15 February 2023, 15 February 2023–12 February 2026, or from 13 February 2026. Renewed COE cars are not PARF eligible.
Scenario Parameters
Automatic prefill estimates PQP for September 2026. Use the official payable PQP for your renewal month when entering or sharing a value.
Annual Running
Ten-year cost comparison
Renew 10 Years
Keep your current vehicle for 10 more years
Total Cost
S$229,208
S$1,910/mo
Scrap + Buy New
Deregister and buy a new car (10-year ownership)
Total 10-Year Cost
S$230,000
S$1,917/mo
Go Carless
Rely on public transport and ride-hailing
Total 10-Year Cost
S$40,000
S$333/mo
Consider a five-year renewal separately
Renew 5 Years
Keep your current vehicle for 5 more years
Total Cost
S$114,604
S$1,910/mo
Renewing costs S$229,208; scrapping and replacing costs S$230,000 over the same horizon. On these numbers, renewing your COE comes out ahead by S$792. Going carless would cost S$40,000 over the period. The right choice depends on how much you drive and how comfortable you are without the car — adjust the inputs and watch the break-even shift.
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How this calculator works
For a car on its original COE, compare renewing for five or ten years with deregistering and either buying a replacement or using public transport and ride-hailing. Select the original COE cohort for PARF and enter the actual ARF and COE paid.
When sufficient results exist, the initial PQP estimate uses stored premiums. You can override it with the published PQP applicable to the intended renewal month. A five-year car renewal costs half the full PQP, rounded up to the dollar; the car must be deregistered when that five-year renewal expires. A ten-year renewal uses the full PQP.
scrap_proceeds = PARF_rebate + unused_COE_rebate + body_offer
renew_5 = half_PQP + current_annual_running × 5
renew_10 = full_PQP + current_annual_running × 10
replace_10 = final_new_car_quote − scrap_proceeds + new_annual_running × 10
carless_10 = monthly_transport × 120 − scrap_proceedsScrap proceeds reduce both alternatives that dispose of the existing car. Enter fuel, parking, ERP and age-adjusted road tax as well as insurance and maintenance. Replacement running costs have their own input, so they do not silently copy an older car.
The five-year option has a shorter horizon. Monthly averages help compare the entered cash flows, but do not price transport in years six to ten after a five-year renewal.
Sources: LTA COE renewal and LTA deregistration rebates.
What this calculator does not capture
This does not model finance interest, future PQP, inflation, final resale values or breakdown risk. It assumes the current car is on its original COE; unused rebates on an already renewed COE require its actual renewal term. Negative net cash flow means the initial disposal proceeds exceed the selected spending, not that transport is free. Confirm renewal eligibility and the exact deregistration rebate with LTA.
Frequently asked questions
- Do both disposal options receive the scrap proceeds?
- Yes. PARF, the estimated unused COE rebate and the entered body offer reduce both replacement spending and carless spending.
- Are five-year and ten-year totals directly comparable?
- They cover different durations. The monthly numbers are average cash flows, not loan repayments, and the five-year scenario does not price transport after that renewal expires.