When & How To Renew Your COE In Singapore – Consider The Options
In recent years in Singapore, renewing COE has become the preferred choice due to the steep rise in car prices attributed to heightened import taxes and surcharges. Here are key considerations to bear in mind as you navigate your way through the COE renewal process, whether you're an existing car owner or a potential new car buyer.
When Is The Best Time To Renew COE?
Before renewing your COE, it's crucial to acquaint yourself with essential terms, and one of them is Prevailing Quota Premium (PQP). Familiarising yourself with PQP will empower you to make more informed decisions regarding COE renewal or deregistration.
Take note of bidding exercises
Use the right PQP to renew your COE
Avoid late renewal of your COE
| Vehicle type | Late renewal fee | |
|---|---|---|
| Vehicle typeMotorcycle | Late renewal fee$50 | |
| Vehicle typePrivate Motor Car (1,000cc and below) | Late renewal fee $50 | |
| Vehicle typePrivate Motor Car (1,001cc to 1,600cc) | Late renewal fee$100 | |
| Vehicle typePrivate Motor Car (1,601cc to 2,000cc) | Late renewal fee$150 | |
| Vehicle typePrivate Motor Car (2,001cc to 3,000cc) | Late renewal fee$200 | |
| Vehicle typePrivate Motor Car (More than 3,000cc) | Late renewal fee$250 | |
| Vehicle typeBusiness Service Passenger Vehicle (Company Car) | Late renewal fee$250 | |
| Vehicle typeGoods Vehicle and Public Service Vehicle | Late renewal fee$250 | |
| Vehicle typeOthers | Late renewal fee$250 |
3 Ways To Renew Your COE
You have the option to renew your COE for either a five-year (paying 50% of the PQP) or ten-year period (paying 100% of the PQP) and there are three ways available for renewing your COE:
1. Online through the One Motoring website
- You'll need an internet banking account with DBS/POSB, UOB, Citibank, Standard Chartered, or OCBC.
- Ensure your daily transaction limit is adequate and that your account has sufficient funds.
2. By mail
- Fill out the application form and send it to the LTA Customer Service Centre at 10 Sin Ming Drive, Singapore 575701.
- Make the cheque payable to 'LAND TRANSPORT AUTHORITY' and cross it 'A/C Payee Only'. Indicate your vehicle and contact number on the reverse side.
- Cashier's orders are the only acceptable form of payment for expired COE renewals.
3. Visit LTA's customer service center
- Complete the application form and submit it along with your payment at 10 Sin Ming Drive, 575701.
- Make the cheque payable to 'LAND TRANSPORT AUTHORITY' and cross it 'A/C Payee Only'. Indicate your vehicle and contact number on the reverse side.
- Payment options include cash, cashier's order, NETS, Diners Club Card, or cheque.
Alternative Options To COE Renewal
Scrap the car and buy a new one
To dispose of your car, you'll first need to deregister it. This can be conveniently accomplished through the SingPass portal online. As for disposing of the vehicle itself, you have a couple of options: you can either take it to an LTA-authorised scrap yard, or enlist the services of a motor dealer like motorist.sg to assist you with the process.
Rent or lease a car
Car rental companies like GetGo, BlueSG, Tribecar typically offer a selection of new or fairly recent vehicles for lease over extended periods.
Alternatively, you may choose to lease directly from an automotive manufacturer such as Daimler Fleet Management, BMW, Volkswagen, or Porsche. Leasing from these companies comes with the advantage of receiving servicing akin to owning the vehicle, though the lease duration might span from 4 to 8 years.
The primary advantage of car leasing is its ability to require less initial payment while still providing the perks of vehicle ownership. To find out more about the best car rental options, check out our blog article on the Best Car Sharing Guide in Singapore .
Alternatively, you may choose to lease directly from an automotive manufacturer such as Daimler Fleet Management, BMW, Volkswagen, or Porsche. Leasing from these companies comes with the advantage of receiving servicing akin to owning the vehicle, though the lease duration might span from 4 to 8 years.
The primary advantage of car leasing is its ability to require less initial payment while still providing the perks of vehicle ownership. To find out more about the best car rental options, check out our blog article on the Best Car Sharing Guide in Singapore .
Compare The Best Car Insurance Quotes in Singapore
Frequently Asked Questions
When should I renew my COE?
- It is best to renew your COE by its expiration date. Any COE renewal after its expiration will incur late fees. Do keep track of your car’s COE expiry and the category in which your car is eligible for renewal as the renewal terms and conditions differ for each category.
For example, renewing the COE for an initial 5-year term for vehicles classified under Category C allows for subsequent renewals after the first period elapses. How can I renew my COE?
- Currently, there are 3 ways to renew your COE, and they include:
- Online through the One Motoring website
- By mail which involves filling out the application form and payment cheque, and sending it to the LTA Customer Service Centre at 10 Sin Ming Drive, Singapore 575701.
- In person at LTA's customer service center which means submitting the completed application form with your payment at 10 Sin Ming Drive, 575701.