The Preferential Additional Registration Fee (PARF) rebate — the amount you get back when you scrap your car early — will be reduced by 45 percentage points. The cap will also be halved, from $60,000 to $30,000. What does this mean for the average driver? Daniel Martin speaks with Say Kwee Neng, automotive industry veteran and consultant.

The Preferential Additional Registration Fee (PARF) rebate &mdash; the amount you get back when you scrap your car early &mdash; will be reduced by 45 percentage points.&nbsp;The cap will also be halved, from $60,000 to $30,000.&nbsp;What does this mean for the average driver?&nbsp;Daniel Martin speaks with Say Kwee Neng, automotive industry veteran and consultant.

The best interviews from CNA938 on Singapore news, current affairs, health, entertainment and money.

The best interviews from CNA938 on Singapore news, current affairs, health, entertainment and money.

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The best interviews from CNA938 on Singapore news, business updates, entertainment and food.

The best interviews from CNA938 on Singapore news, business updates, entertainment and food.