COE renewal Singapore / latest news—

2024 Renew your COE by paying the current month’s Prevailing Quota Premium (PQP).

Comprehensive Guide to Certificate of Entitlement (COE) 2024

At GINGERBREAD AUTOS —

We believe in providing our customers with comprehensive information to make informed decisions about car ownership in Singapore. Understanding the Certificate of Entitlement (COE) system is essential for anyone considering purchasing or renewing a vehicle. Here's everything you need to know about COE, along with FAQs and details on COE renewal services we offer. Renew your COE by paying the current month’s Prevailing Quota Premium (PQP).

What is COE?

The Certificate of Entitlement (COE) is a quota license required for vehicle ownership and use in Singapore. It represents the right to own and use a vehicle for 10 years. The COE system was implemented to control vehicle population growth and manage traffic congestion in Singapore. It is interesting that there are about 1 million vehicles on the roads in Singapore, of which around 2/3 are passenger vehicles.

  • For cars with engine capacity up to 1,600cc and horsepower not exceeding 130hp.

  • For cars with engine capacity above 1,600cc or horsepower exceeding 130hp.

  • For goods vehicles and buses.

  • For motorcycles.

  • Open Category of COE which can be used to register vehicles from CAT A - D. Traditionally used for CAT B vehicles by motor dealers.

How to Renew COE ?

  • Ensure that your vehicle is eligible for COE renewal by ensuring the following:

    1) Latest LTA (VICOM) inspection is done.

    2) Valid Insurance is purchased to next road tax due date (If not doing it with us)

    3) Road tax is paid to next due date (If not doing it with us)

  • Submit your COE renewal application through an Electronic Service Agent (ESA) or via the LTA Online website. We are LTA’s Electronic Service Agent and can help you with this process.

  • Once the renewal process is complete, your vehicle’s COE will be renewed.

What is PQP ?

After the initial 10-year COE period expires, vehicle owners have the option to renew their COE for an additional 5 or 10 years, subject to prevailing quotas and prevailing COE prices.

Note, to renew your car’s COE, you have to pay the Prevailing Quota Premium (PQP) which is the average of the last three months of COE prices.

COE renewal by paying the PQP is a cost-effective solution for extending vehicle ownership beyond the initial 10-year period, especially when the COE is low.

COE renewal FAQs

  • Yes, vehicle owners can renew their COE at any time before the expiry date of their existing COE, but the remaining value of the COE will be forfeited.

    Example, your car’s original registration date is 31 Mar 2015. Your COE would expire on 30 Mar 2025. You can renew COE by paying the PQP in Apr 2024, but the next expiry date of your car will be in Apr 2034.

  • If you choose not to renew your COE, you must deregister your vehicle and dispose of it through proper channels. Failure to do so may result in penalties or fines.

    We provide scrap and export services as well.

  • No, a COE is tagged to the vehicle it is registered with upon the first registration date.

  • Yes, we offer COE renewal services to assist vehicle owners in extending the validity of their COE for an additional 5 or 10 years.

    Most of the time due to the high amount to be paid for COE, most vehicle owners will need financing to renew their COE. We provide lowest interest rate COE financing.

  • Absolutely! Our experienced team can guide you through the COE bidding process and assist with COE revalidation if applicable.

  • The renewal of a car’s COE can be instant if it is paid fully in cash, otherwise, with COE financing, allow 5 working days for processing.

    Please approach us a week in advance to assist you.

  • For COE renewal financing, our company will absorb all related vehicle transfer costs. No cash out of pocket for you.

  • In Singapore, there is no limit to the number of 10-year COE renewals that can be done. However, if you renew your COE for 5-years, it will no longer be renewable.

    In our experience, we have seen a 50 year old car running on the normal black plate. Amazing!

Ready to Renew Your COE?

Contact us today to learn more about our COE renewal services and take the next step in extending your vehicle ownership in Singapore!