Singapore Car OMV vs Paper Value Calculator 2026 — Open Market Value vs PARF + COE Scrap Value: Full Lifecycle OMV → ARF → VES → Net ARF → Paper Value, Net Effective Cost & Monthly Depreciation

OMV (Open Market Value) is the declared import value of a vehicle to Singapore Customs — it represents the cost of the car at its country of manufacture plus freight and insurance to Singapore. It is NOT the purchase price, market price, or what you pay in a showroom. In Singapore, the purchase price (on-road cost) includes OMV plus: ARF (100/140/180% of OMV), COE premium (S$85,000–S$125,000+ depending on category), excise duty (20% of OMV), GST (9% on OMV + excise + ARF), and registration fee. For a car with OMV S$60,000, the total on-road cost could be S$200,000–S$250,000. OMV matters because it determines the ARF, which in turn determines the PARF rebate you receive when deregistering.

Paper value (also called scrap value) is the total amount LTA would pay you if you deregister your Singapore car today. It equals: PARF rebate (80%/70%/60% of ARF paid, by vehicle age) + pro-rated COE rebate (remaining months ÷ 120 × COE premium). Paper value represents the minimum floor price of any Singapore used car — sellers will not accept offers below paper value because they can always choose to deregister and receive this amount from LTA instead. Example: car with PARF of S$66,400 and COE rebate of S$28,500 has paper value of S$94,900 — no seller accepts less than S$94,900 for this car, regardless of its condition.

The OMV directly determines the ARF: ARF = 100% of first S$20,000 of OMV + 140% of next S$30,000 + 180% above S$50,000. This means: high-OMV luxury cars pay disproportionately high ARF — a car with OMV S$100,000 pays ARF of S$110,000 (110% of OMV on average). Conversely, low-OMV economy cars pay proportionately less ARF. The ARF then determines the PARF rebate on eventual deregistration. For EV buyers, the VES Band A1 rebate and EEAI further reduce the net ARF paid. Understanding OMV helps buyers compare the true “base cost” of different vehicles before COE and other charges, and estimate the eventual PARF rebate on resale/deregistration.

VES affects the net ARF paid: Band A1 reduces ARF by S$25,000; Band C2 increases ARF by S$25,000. This changes both the upfront on-road cost AND the eventual paper value. Example: OMV S$60,000, standard ARF S$83,000. Band A1 (EV): net ARF = S$58,000. PARF at 80% = S$46,400. Band C2: net ARF = S$108,000. PARF at 80% = S$86,400. The Band C2 car has S$40,000 MORE in PARF, but also paid S$25,000 more in ARF upfront. Net penalty for Band C2 vs Band A1: S$50,000 more in net ARF paid (S$25k VES surcharge + S$25k VES rebate foregone) vs S$40,000 more in PARF recovered. Net effective extra cost of C2 vs A1 = S$10,000 after considering higher PARF recovery (at 80% rate). This analysis changes at lower PARF rates.

Paper value as a percentage of on-road cost varies significantly depending on vehicle age and COE timing. For a new car immediately after registration with full COE: paper value ≈ 70–85% of on-road cost (ARF fully recoverable as PARF at 80%, plus nearly full COE rebate). This proportion decreases as: PARF rate drops from 80% to 70%/60% with age; COE months decrease reducing COE rebate. At year 7 (still 80% PARF, 36 months COE remaining): paper value is typically 30–50% of on-road cost. At year 9.5 (60% PARF, 6 months COE remaining): paper value drops to 15–25% of on-road cost. The paper value percentage tells you how much of your initial investment you can recover — higher is better.

The paper value creates a hard floor for used car pricing because any owner can independently choose to deregister and receive paper value from LTA. There is no benefit to selling at less than paper value. This means: low-mileage vs high-mileage cars of the same age can’t differ too much in price if both are near paper value; the “depreciation” for newer Singapore cars is primarily the difference between on-road cost and paper value at any given time; as a car approaches its 10th year (when PARF ends at 60%), paper value shrinks sharply, and used car prices follow. The relationship between paper value and market price is unique to Singapore — it doesn’t exist in most countries where cars have no government-mandated scrap value mechanism.

COE renewal permanently eliminates the PARF rebate (PARF = S$0 after renewal), dramatically reducing paper value. After renewal: Paper value = only the pro-rated COE rebate on the renewed period (PQP × remaining months ÷ 60 for 5-year renewal). No PARF component. Example: car with PARF of S$66,400 before renewal → after renewal, PARF portion is S$0. Only the COE rebate on renewed PQP remains. If PQP was S$100,000 and 30 months remain: COE rebate = 30/60 × S$100,000 = S$50,000 — the entire PARF of S$66,400 is permanently lost. This is why our PARF Calculator and COE Rebate Calculator should be used together to evaluate the deregister-vs-renew decision.

The net effective cost is the total you actually spend owning a Singapore car after accounting for the paper value recovery on deregistration: Net Effective Cost = On-road cost − Paper Value. It represents the true “consumption” of the car over your ownership period. Example: S$194,000 on-road, S$61,300 paper value after 7 years → net effective cost = S$132,700 over 7 years. Monthly depreciation = S$132,700 ÷ 84 months = S$1,580/month. This excludes fuel, insurance, road tax, maintenance — the monthly depreciation is just the capital cost of owning the car. Singapore’s high COE means this monthly depreciation (S$1,500–S$3,000+ for typical cars) is among the highest globally.

The COE system is unique to Singapore and has no international equivalent — it’s a bidding process for the right to register and use a car on Singapore roads. COE premiums are entirely determined by supply and demand in fortnightly bidding exercises, completely independent of the car’s manufacturing cost (reflected in OMV). In periods of tight COE supply (as in 2021-2026), COE premiums have exceeded S$100,000 even for small Category A cars — often equaling or exceeding the OMV of the car itself. A “cheap” car (low OMV) in Singapore can be surprisingly expensive on-road once the COE is added. The COE portion is eventually recovered through the pro-rated COE rebate, but only proportionally based on remaining months.

This calculator estimates the major capital costs. Not included are: EEAI rebate (if the car is a qualifying new BEV registered 2022–2026, see our EEAI Calculator for the additional S$7,500 ARF reduction); dealer margin (difference between list price and LTA-registered on-road cost); road tax and age surcharge (see Road Tax Surcharge Calculator); motor insurance premiums; fuel or electricity charging costs; parking and ERP charges; vehicle maintenance and repair; loan interest (the true monthly payment includes interest on the car loan amount). For a comprehensive monthly car ownership budget, add road tax (÷12) + insurance (÷12) + fuel/charging + parking to the monthly depreciation shown here.

Savvy Singapore used car buyers always start by calculating the paper value (PARF + COE rebate) to establish the absolute floor. The negotiation then focuses on the premium above paper value, which should reflect: remaining COE months (more months = higher premium); vehicle condition and mileage; age relative to key PARF band thresholds (a car just past 8 years with PARF dropping from 80% to 70% has lower paper value and should be priced lower); remaining warranty; and market demand for the specific model. A premium of S$5,000–S$20,000 above paper value is typical for most Singapore used cars. The OMV is less relevant in used car negotiations — what matters is the current paper value and the remaining utility (COE months).

OMV is set by Singapore Customs and is publicly available via LTA OneMotoring. Indicative ranges for 2026: Toyota Vios 1.5 ≈ S$18,000–S$22,000; Toyota Corolla Cross 1.8 ≈ S$30,000–S$38,000; Honda CR-V ≈ S$45,000–S$55,000; BMW 320i ≈ S$55,000–S$65,000; Mercedes C300 ≈ S$70,000–S$85,000; BYD Atto 3 ≈ S$45,000–S$55,000; Tesla Model 3 ≈ S$60,000–S$70,000; Tesla Model Y ≈ S$65,000–S$80,000. These are approximate — actual OMV for specific variants may differ. Check LTA OneMotoring for the official OMV of any registered vehicle by entering its registration number. OMV is also stated on the LTA registration certificate.

GST (9% in 2026) is levied on the sum of OMV + excise duty + ARF (net of VES rebates/surcharges). It does NOT apply to the COE premium (COE is not subject to GST) or the registration fee. GST is a one-time cost at purchase — it is NOT recovered through the paper value (PARF and COE rebate). So GST is part of the “true consumption cost” of owning a Singapore car. Example: car with OMV S$60,000 + excise S$12,000 + net ARF S$83,000 = S$155,000 × 9% = S$13,950 in GST. This S$13,950 is entirely absorbed (not recoverable) over ownership. VES rebates that reduce net ARF also reduce the GST payable — a Band A1 EV with S$25,000 lower ARF saves S$2,250 in GST (additional saving beyond the ARF rebate itself).

When a car’s COE expires (at 10 years for original COE) and no COE renewal is pursued: PARF = 0 (more than 10 years old or COE not renewed); COE rebate = 0 (no months remaining). Paper value = S$0. At this point, there is no financial incentive from LTA for deregistering — the scrap value at a Vehicle Processing Facility (VPF) would be essentially S$0 or a small token amount from scrap metal. This is why the Singapore government charges road tax age surcharges (up to +50% above 10 years) — to financially encourage owners to deregister old vehicles rather than run them with no scrap value. The S$0 paper value scenario is rare in practice as most Singapore owners deregister or renew COE at 10 years.

The official OMV of any Singapore-registered vehicle is: stated on the LTA Vehicle Registration Certificate (VRC) issued at first registration; available via LTA OneMotoring (www.onemotoring.lta.gov.sg) by entering the vehicle registration number under “Enquire Vehicle”; accessible from the vehicle’s LTA registration document kept by the registered owner; provided in the seller’s LTA documents when buying a used car. When buying a used car, always verify the OMV directly from LTA records — don’t rely solely on the seller’s verbal claim. The OMV determines the ARF originally paid, which determines the PARF entitlement — getting this wrong will give you an incorrect paper value calculation.

No — the net effective cost in this calculator covers only the capital costs: on-road purchase cost minus paper value recovered on deregistration. It does NOT include operating costs: road tax (including age surcharge if over 10 years — see Road Tax Surcharge Calculator); motor insurance premiums (typically S$2,000–S$8,000/year); petrol or EV charging costs; parking season parking or hourly; ERP charges; COE renewal costs (if applicable); vehicle maintenance, servicing, and repairs. True total cost of Singapore car ownership adds these operating costs to the net effective capital cost. For most Singapore households, the total monthly cost of car ownership (including depreciation, road tax, insurance, fuel, and parking) ranges from S$2,500/month for economy cars to S$5,000–S$8,000/month for luxury vehicles.