COE Renewal Loan
Financing for your COE renewal — compare rates from 15+ 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 15 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
15+ 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
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
