COE Renewal Loan
Financing for your COE renewal — compare rates from all banks and finance companies, completely free
Financing Your COE Renewal
Renewing your Certificate of Entitlement (COE) means paying the Prevailing Quota Premium (PQP) — a significant upfront cost. Most vehicle owners choose to finance this through a loan rather than pay the full amount in cash, and the interest rate and terms you get can make a real difference to your monthly outlay.
This is the core of what COEPLUS does: we compare COE renewal loan offers from over all banks and finance companies on your behalf, at no cost to you.
How It Works
| Step | What Happens |
|---|---|
| 1. Apply | Complete our COE renewal application — use SingPass MyInfo to pre-fill your details in seconds, or fill in the form manually. |
| 2. Compare | We match your application against our panel of banks and finance companies and present the offers available to you. |
| 3. Choose | Review interest rates, loan tenure, and monthly instalments side by side, and select the offer that suits you. |
| 4. Renew | Your chosen financing is arranged and your COE renewal proceeds — all coordinated through COEPLUS. |
A COE renewal loan is similar to a car loan. You borrow a percentage of the COE renewal cost (typically 50-70%) and repay it in monthly instalments over 1-7 years. The interest rate is typically between 1.5% to 5% per annum, depending on the bank and your credit profile.
LTA Compliant
Fully aligned with LTA COE regulations
100% Secure
Your data is protected and never shared
Zero Fees
Our service is completely free to you
Fast Processing
COE renewal completed within 3–5 days
Premier Partners
Access to the widest network of lenders
24/7 Support
Our team is always here to help you
Key Features
- Loan amount: Up to 70% of COE renewal cost*
- Loan tenure: 1 to 7 years*
- Interest rates: From 1.5% p.a. (subject to bank approval)
- No early repayment penalty (with most banks)
- Fast approval: Typically within 1-3 business days
*Higher loan amount and longer loan tenure are possible.
What Affects Your COE Renewal Loan Rate
- Loan tenure — typically up to 10 years for COE renewal, though shorter tenures usually carry lower total interest.
- Vehicle category — Category A, B, C, D, and E vehicles may be assessed differently by different lenders.
- Loan-to-PQP ratio — how much of the PQP amount you choose to finance versus pay upfront.
- Your credit profile — as with any financing, your credit history affects the rate you’re offered.
Because a COE-renewed vehicle no longer qualifies for a PARF rebate and carries no trade-in value in the conventional sense, some lenders price COE renewal loans slightly higher than new or used car loans — another reason comparing multiple offers matters more here, not less.
COE Renewal Calculator
Estimate your renewal cost & monthly repayments
