When your certificate of entitlement (COE) expires, it is only natural to start looking into alternatives. After all, once your COE expires, you cannot use your car on the roads until the COE has been renewed. Vehicle owners are at crossroads between renewing their COE or deregistering their vehicle and buying a new car altogether. Most owners choose to opt for the former by extending the duration of ownership. COE is mandatory for vehicle ownership in Singapore. Car owners can opt to renew their COE for a period of either 5 years or 10 years. However, how much capital is required to renew your COE?
Renewing your COE might be the logical thing to do to save yourself the hassle of buying a new car. On the other hand, the cost-price might be a game changer. Most drivers might lean towards renewal over vehicle deregistration as it would be much cheaper – but we always encourage drivers to do their homework.
Monitoring the COE bidding results and staying up-to-date with MoneyMax Leasing and observing trends from our archives could give you a better idea of how much is required to renew your COE. Click here to view the latest updates and our archives.
Now that you have gotten the latest results and you know how much to renew your COE, here is a solution to help you avoid breaking the bank: take a COE renewal loan from MoneyMax Leasing, the professional financial services provider in Singapore.
MoneyMax Leasing offers various loan services to help vehicle owners cope with the rising costs of vehicles. Reach out to us today!
