I'm curious with the VQS system, COEs and those things of Singapore. Let's say your Neo have reached its 10yr limit, ur option is only to scrap the car or have it exported to another country.
When you scrap the car, lets say the Neo : do you make any money from scrapping it?
Export the car : you sell the car to some used-car exporter, or what? and the common % rate they pay you if vs. market rate?
If the limit of COE has reached, you can either scrap or retain the car and bid for another COE on that particular month. Like one of my friend, he bought a civic del sol 2 door 2 seater open top for SGD2500 with 1 yr COE left.. The car is full with goodies.. such as B20B, racing seats, big brake kit, mufflers and so on.. so when the 1 yr ends, he went to bid for another new COE for SGD 60k just to keep the car on the road.. for him, he thinks it's a good buy because if you were to get another new car.. is like SGD100k++ at least(car + COE)..
If you scrap the car before the COE ends, you can take back the COE return value + car value, if you scrap on the COE expires.. you only take back SGD500 for the scrap metal price of your car with no COE return value (so for those who successfully bid the COE at SGD1 for one particular year when government gave allowance, they aren't selling their car but drive till scrap).. but the scrap yard might then export your car out of the country for a higher price...