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COE renewal Loan

COE Renewal Loan

COE Renewal Loan

COE renewal loan is considered more practical and offers more value for money because modern cars are engineered to work well for a lifespan of more than 10, 20 years.

When the concept of COE (Certificate of Entitlement of cars) was formed by the government, the lifespan of most cars was only 10 years or even less. Due to improvement in manufacturing techniques and technology, most modern cars are now built to last beyond 10 and even 20 years. Unfortunately, bureaucracy is tough to catch up with technology and our COE is still in its original form of 10 years certification.  Of course, the authority and car sellers are happy to see the status quo as long as they are making more money.

It makes more sense to renew COE because a brand new car immediately depreciates upon leaving the car showroom. A lot of the depreciation happens immediately on the day you drove your beloved car out of the showroom, by as much as 20%. As such, there is much value and money smart in either buying a secondhand car or renewing your existing COE to continue driving.

renewing COE for family car

renewing COE for family car

In fact, most people would cherish the familiarity of driving the same family car that gave them so much memory and when the driver is so used to the handling. It would be great to stick to a car that the driver and family has been close to for the past decade.

For more insights on whether to renewing a COE, please click on Should I renew my car COE?


  • Maximum loan amount is 100% of Prevailing Quota Premium (PQP).
  • Applicant should be 21 years old and above.
  • For vehicles that are renewed for 5 years, maximum loan is only 4 years.
  • For vehicles that are renewed for 10 years, maximum loan is only 7 years.

Banks do not lend for COE renewal loans

Unfortunately, most banks only provide car loans for new cars and do not like to lend money for COE renewal loans. This is because it is not a lucrative sector for them with old cars having low collateral and low interests rate. For my father vehicle which I want to renew last year, I was unable to find a single bank that provide bank loan.

All of them decline this business. I have checked with forums and insiders and most of them mentioned that you either borrow from your family or you have to resort to personal credit lines or moneylenders for the COE renewal lump sum. That is not acceptable as not only is the interest rate high, it will skew the costs and benefits of renewing a COE.

cut the middleman

cut the middleman

In the end, I found a niche market, and realised that we can have specialist firms lending money to people who renew their COE. The return rate would be low (which is why banks refuse this business), but stable as most such lenders are prudent.

For the lenders, it is definitely great having a COE renewal car loan. For many without cash savings, they may have to resort buying a secondhand car or a brand new car just for the sake of getting a proper bank loan with low down payment. The COE renewal car loan will allow them to proceed with their money smart plan in renewing their original car.

For those who can afford it, the low interest loans will help to lessen the burden of forking out a large sum, and allow them to keep the cash for better potential plans, be it business, stocks or just keeping emergency fund for unanticipated events. The low interests make it a no-brainer to get COE renewal loan. In fact, Timely Enterprise will provide the lowest interest rate in Singapore.

How do I renew my COE?

If you have decided to be money smart, and to renew your COE, you can easily renew your COE via online transaction or paper forms with LTA. Please refer to this article on How to renew car COE.

You can also let us handle your paperwork and help you save money with competitive rates – the lowest in Singapore. We will also work with you on flexible repayment options that suits your preference.

Please prepare to renew your COE at least 1 week before your old COE expires. You will face late charges from LTA to renew if your old COE has expired. If the COE has expired more than 1 month, LTA does not allow any renewal. Please refer to LTA – COE Renewal on existing vehicle

COE Renewal Car Loans – why are we cheaper

renewing COE of a good car

renewing COE of a good car

In the past, people turn to personal credit and loans to get funding for the PQP COE renewal. However this is not advisable as such personal loans attract high interest rates! What you can do is to turn to COE Renewal Loan Specialist that can provide loans tailored for COE renewal and hence pay a much lower interest rate.

We keep our overhead costs low. We keep our office small and nimble, and we do not have to pay big banks or shareholders large returns. We are lean, and we work smarter with our large volume of clients to ensure all savings are passed to clients who in turn refer more clients without us paying big advertisement fees. This is why we can strive to give the LOWEST INTEREST RATE IN SINGAPORE.

We know that COE renewal of 5 or 10 years can be a big hefty sum. You can break the big downpayment for COE renewal into monthly sums via COE Renewal loans because it is easier for expense planning.

They will provide the renewal loan hassle free because they understand drivers want value and low costs.

We try to provide the LOWEST interest rate in the market!

You can call James at +65 82003255 or email us at for any enquires.

We only profit if you save money.

Comments (4)

  1. William December 26, 2017 at 9:28 am Reply

    1) Interest rate
    2) Repayment amount per month?
    3) No financial statement
    4) Car is Estima for 5 years COE

    1. admin March 4, 2018 at 7:35 pm Reply

      Sure. You can email us at

  2. Matthew February 28, 2018 at 6:57 pm Reply

    I like to Renew my Lancer ex 2.0 for 10 years.
    Like to check what is yr interest rate for 7 years loan.
    Also what is the fees involve on your side.

    1. admin March 4, 2018 at 7:37 pm Reply

      Hi. Please email us at or whatsapp us at +65 8200 3255.

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