Published on November 21, 2022

Understanding How COE Renewal In Singapore Works

Car Loan

Buying a vehicle in Singapore means getting it registered with a COE (Certificate of Entitlement) that is valid for 10 years from the registration date. When it expires after the 10th year mark, renewal is necessary and the process can be confusing and tedious especially for those new to it. But worry not, because this guide will walk you through the whole process. 

Learn More: Buying A New Car For The First Time – On Finance, COE and More


Why Should You Renew Your Car’s COE?

As mentioned earlier, when your car has reached its 10-year anniversary and your COE expires, renewal is required to keep your vehicle registered under your name. Otherwise, your vehicle will be deregistered and disposed of. 

Renewal of your COE should be done before the existing one expires. You can also renew it one month after the expiry date but if you do this, you would not be able to drive your car until your COE has been renewed. In addition, you will also be charged a late payment fee. Those who fail to renew their COE within one month of their expiry date will have to dispose of their car immediately. 

One of the reasons why people choose to renew their COE is the lower upfront cost. Compared to buying a new vehicle in Singapore where you would have to go through the whole COE bidding process and pay the full price of the car, you would only have to pay the PQP (Prevailing Quota Premium) when you renew your COE. 

How To Renew Your COE?

If you would like to renew your COE in Singapore, here are some ways you can do so:


1.Internet Banking

You can renew your COE via internet banking daily from 6 am to midnight. The banking accounts that you can use to pay the PQP are

  • Citibank
  • OCBC/Plus!
  • Standard Chartered Bank
  • UOB


Your postal should include a completed application form and payment, sent at least 2 weeks before the expiry date. Your post should reach the LTA before the end of the month that the PQP is applicable.

3.LTA Customer Service Centre

At the LTA Customer Service Centre, you can choose to pay either by cheque, cash or cashier’s order. You can even pay your PQP by Diners Club Card or NETS. 

4.Getting A Loan

While some are unaware, you can actually apply for a COE renewal loan in Singapore from a certified lender or a financial institution to renew your COE. Unlike the regular car loan which might only cover 60% to 80% of the loan amount, you can apply for a full loan to cover your renewal and the repayment term would differ according to how long you plan to renew your COE. 

At Swee Seng Credit, we offer a one-stop service where you can get a COE renewal loan with attractive monthly rates from as low as 1.99% interest rates and up to a 7 years repayment period. To help you save time and money, our COE renewal process is seamless and hassle-free with almost immediate approval. 

If you are struggling financially and would like to apply for a COE renewal loan in Singapore, do check out Swee Seng Credit for the best COE renewal loan terms and interest rates. Contact us today to know more