With high COE prices, car owners are turning to COE Renewal as a viable option. Through the process of assisting hundreds of used car owners in applying for COE Renewal Car Loan, we realised a good number of car owners are not familiar with the guidelines in renewing COE. This article, thus serve to explain the guidelines in COE Renewal.
Renew COE for an existing vehicle
Bidding of COE for renewal is not required when you renew COE. To renew COE for an existing vehicle, you have the choice of paying for a five or ten years Prevailing Quota Premium (“PQP”). If you are a first-timer, PQP actually refers to the moving average of the COE prices in the past three months.
Guidelines to Renew COE:
Step 1: Check for the expiry date of your existing COE
Please note the authority gives one-month grace period. Otherwise, the vehicles will be de-registered in the system and [...]