The Usual Place Podcast
Did the Budget 2026 PARF rebate cuts kill car ownership aspirations?
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Will the recent changes to the preferential additional registration fee (PARF) rebate and the current COE prices turn away car buyers?
Prime Minister Lawrence Wong announced in his Budget speech on Feb 12 that the PARF rebate will be lowered by 45 percentage points. The maximum rebate a car owner can expect to receive will be halved from $60,000 to $30,000.
What should the game plan be, then, for those still looking to buy a car after this announcement? How does this development affect car brands and the second-hand market?
In this episode of The Usual Place, ST’s senior transport correspondent Lee Nian Tjoe and veteran automotive consultant Say Kwee Neng share their thoughts.
Highlights (click/tap above):
2:30 What is the significance of the PARF?
5:30 Is the PARF rebate reduction a “stick” to get buyers to choose EVs?
10:05 A stealthy wealth tax?
16:02 The implications of older EVs on the road
20:20 The iPhone vs older EVs comparison
25:20 What’s happens to the used car market now?
28:15 Most cost-efficient option now
31:45 Are your dreams of owning a car over?
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Filmed by: Studio+65
Edited by: Teo Tong Kai, Eden Soh and Chen Junyi
Executive producers: Danson Cheong, Elizabeth Khor & Ernest Luis
Editorial producers: Elizabeth Law
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