GET THE BEST COE RENEWAL
LOAN
IN SINGAPORE

The cost of COE renewal is based on the Prevailing Quota Premium (PQP) from last month 2nd bidding result. For example it you intend to renew in May 2018, the cost will be based on Apr 2018 PQP results. PQP is a moving average of the Quota Premium (QP) over the last 3 months.

1. NRIC
2. Driving License
3. CPF Statement for the last 12 months or 2 Years Income Tax Notice Of Assessment (NOA)

1. Our team will email you the necessary forms and instructions for you to fill up, along with more detailed inner-workings of the renewal process.
2. Typically with all documents in order, the loan approval period takes 2 working days and an additional 3 working days for the renewal process to complete.
3. Status updates and experienced help will be available through out the process.

For a 5 year COE renewal, the maximum loan repayment term is 5 years.
For a 10 year COE renewal, the maximum loan repayment term is 7 years.

You should renew COE at least 2 week before the current one expires. Allow 7 working days for loan approval and 3 working days for the renewal process to take place.

You can still renew COE as long as your current one does not exceed 1 month from the date of expiry at a late payment fee from $50-$250 depending on engine capacity. For more information please go to the official source of information here:
https://www.onemotoring.com.sg/content/onemotoring/en/lta_information_guidelines/maintain_vehicle/coe1.html

When you choose to renew your COE, you will lose the benefit of getting your car's PARF rebate. The annual cost of ownership is (Final PARF Rebate forfeited + Renewed COE PQP) / number of years. A 5 year COE renewed Toyota Corrolla Altis is estimated at $5,474 per year which is really an affordable way to own a car.