The PARF will drop by 10% COE yearly. They will announce this is april when they announce the new COE quota. Currently now PARF at 55% OMV, in april it'll left with PARF at 45% OMV then eventually no more PARF and you get back only the price for the body (if any).
Got PARF no PARF the annual depreciation also around the same. Government new measure is to discourage people from scrapping their relatively new cars as they wish.
Now is you pay more upfront then get back the PARF at end of 10years, not much difference unless you scrap early.
Somemore because of the higher price (due to PARF + annual depreciation) you actually had to take higher loan amount and pay more interest
You go buy 2nd hand car they also calculate by PARF + (annual depreciation * no of yrs left)