Scrap your vehicle by yourself: It is a tedious and troublesome process as you personally have to drive your vehicle to an LTA-appointed scrap yard. It will take about 4 weeks for LTA to release the rebates to your bank. To do it yourself, you can find out more information from LTA. Scrap your vehicle with scrap yard or exporter in Singapore: You get additional value other than the COE and PARF rebates. It is also hassle-free as you do not have to deal with the paperwork.  Also, it is efficient as you will get your money instantly once you hand over your vehicle.