Best Time to Renew Your COE in Singapore:
If your COE is expiring soon, one of the biggest questions you may be asking is: Should I renew my COE now, or wait for the next month’s PQP?
For many car owners and business vehicle owners, waiting feels like the safer choice. After all, if you renew later, you keep using the remaining COE period on your current vehicle, and if you are taking a COE renewal loan, you may also delay the start of your instalments.
But based on the latest COE results and how Singapore’s Prevailing Quota Premium (PQP) is calculated, waiting may cost significantly more.
In this article, we look at the latest Category A, Category B and Category C COE results, project what June and July 2026 PQP could look like if COE prices remain at the latest level, and compare the real trade-off between renewing now and waiting.
What Is PQP and Why Does It Matter for COE Renewal?
The Prevailing Quota Premium, or PQP, is the amount you pay to renew your COE.
According to LTA, PQP is calculated using the moving average of COE prices in the latest 3 months of bidding exercises. This means PQP changes every month depending on recent COE results. LTA also states that the next month’s PQP is available only after the 2nd bidding exercise of the previous month has ended.
This is why recent COE results matter even if you are not buying a new car. If COE premiums rise today, the higher prices can flow into the next month’s PQP. That means a vehicle owner who waits to renew may end up paying a higher renewal cost later.
Latest COE Results: May 2026 1st Bidding
The latest May 2026 1st Open Bidding Exercise ended on 6 May 2026. The results were:
Category | Latest COE Quota Premium |
Cat A | $124,790 |
Cat B | $126,236 |
Cat C | $87,479 |
For the same bidding exercise, demand remained strong. Cat A received 2,071 bids for a quota of 1,301, Cat B received 1,332 bids for a quota of 883, and Cat C received 511 bids for a quota of 293.
The current May 2026 PQP is:
Category | May 2026 PQP |
Cat A | $112,324 |
Cat B | $114,577 |
Cat C | $77,884 |
The key point is this: the latest COE prices are already higher than the current May PQP for Cat A, Cat B and Cat C. That creates upward pressure on future PQP.
COE Renewal PQP Trend From January 2026
Here is the actual PQP trend from January to May 2026, plus projected June and July 2026 PQP under a flat-COE scenario. The projection assumes that the next few bidding exercises remain at the same level as the May 2026 1st bidding result.
Month | Cat A | Cat B | Cat C |
Jan 2026 | $114,004 | $126,131 | $76,166 |
Feb 2026 | $107,571 | $120,772 | $76,100 |
Mar 2026 | $106,541 | $115,938 | $75,669 |
Apr 2026 | $107,407 | $114,366 | $75,751 |
May 2026 | $112,324 | $114,577 | $77,884 |
Jun 2026 projected | $118,450 | $120,674 | $82,077 |
Jul 2026 projected | $123,362 | $124,491 | $85,570 |
Figure 1: COE Renewal PQP Trend and Projection for Cat A, Cat B and Cat C from January to July 2026. June and July figures are projected based on the assumption that future COE bidding premiums remain at the same level as the May 2026 1st bidding result.
Projection: What Happens If COE Stays at Today's Price?
Most COE renewal articles only show past data. But what vehicle owners really want to know is: what happens if I wait?
So we calculated two projection scenarios.
Scenario 1: If the May 2026 2nd Bidding Stays at the Same COE Price
If the May 2026 2nd bidding exercise closes at the same QP as the May 2026 1st bidding, the projected June 2026 PQP would be:
Category | May 2026 PQP | Projected June 2026 PQP | Increase |
Cat A | $112,324 | $118,450 | +$6,126 |
Cat B | $114,577 | $120,674 | +$6,097 |
Cat C | $77,884 | $82,077 | +$4,193 |
This means that even if COE prices do not climb higher, the June PQP may still rise because the latest higher COE result will be included in the moving-average calculation.
Scenario 2: If May 2nd Bidding and Both June Biddings Stay at the Same COE Price
If the next 3 bidding exercises remain at the same level as the May 2026 1st bidding result, the projected July 2026 PQP would be:
Category | May 2026 PQP | Projected July 2026 PQP | Increase |
Cat A | $112,324 | $123,362 | +$11,038 |
Cat B | $114,577 | $124,491 | +$9,914 |
Cat C | $77,884 | $85,570 | +$7,686 |
Important takeaway: Even if COE prices simply stay flat at the latest level, PQP could still rise in June and July because PQP is based on a 3-month moving average, not only the latest month’s price.
Why COE Prices May Stay Firm After This Weekend
There is also a market reason why COE prices may stay firm. The Car Expo 2026 is happening on 9 and 10 May 2026 at Singapore Expo Hall 4 and 5. The official event site describes it as Singapore’s biggest car show with over 40 brands, while sgCarMart reported that the 2026 edition features 48 brands, event-exclusive deals and prizes.
Car shows often encourage new bookings because dealers promote event deals, packages and limited-time offers. More bookings can lead to more COE demand in upcoming bidding exercises.
This does not guarantee COE prices will rise, but it does mean that owners waiting for COE premiums to fall sharply may be taking a risk.
With the latest Cat A, B and C bidding results already above the current May PQP, and with a major car event happening before the next bidding round, the risk is that COE and PQP remain firm or move higher.
The Real Trade-Off: Renew Now or Wait?
Renewing early has a real trade-off.
LTA states that if you renew your COE before it expires, your new COE starts from the 1st day of the month after you renew, and you will forfeit any unused portion of your previous COE. If you renew in the month your COE expires, the new COE starts the day after the previous COE expires, and you do not forfeit the remaining COE period.
The decision is not simply: will PQP go up? The better question is: will the projected PQP increase be larger than the unused COE balance I give up by renewing early?
What Is the Unused COE Balance?
Your unused COE balance is the remaining period of your current COE that you have already paid for. If you renew early, you may give up this remaining COE period.
- If your COE expires at the end of June and you renew in May, you may give up about 1 month of unused COE balance.
- If your COE expires at the end of July and you renew in May, you may give up about 2 months of unused COE balance.
The exact amount depends on your actual COE expiry date.
Estimating the Unused Value of Your Current COE
To make the comparison fair, we estimate the unused value of your current COE using this simple method:
Estimated value of 1 unused month = current May PQP / 120 months
Category | May 2026 PQP | Estimated 1 Month Unused COE Value |
Cat A | $112,324 | $936 |
Cat B | $114,577 | $955 |
Cat C | $77,884 | $649 |
This is an estimate for comparison purposes. It is not an LTA formula, but it helps owners understand the cost of giving up the remaining COE period.
Renew Now vs Wait Till June
Let’s say your COE expires around the end of June. If you renew in May, you may give up about 1 month of unused COE balance. But you may also avoid a higher projected June PQP.
Category | Projected June PQP Increase | Less Estimated 1 Month Unused COE Value | Estimated Net Benefit of Renewing in May |
Cat A | +$6,126 | -$936 | +$5,190 |
Cat B | +$6,097 | -$955 | +$5,142 |
Cat C | +$4,193 | -$649 | +$3,544 |
So even after factoring in the unused COE balance, renewing in May may still be cheaper than waiting until June.
Renew Now vs Wait Till July
Now let’s say your COE expires around the end of July. If you renew in May, you may give up about 2 months of unused COE balance. But if PQP rises as projected, waiting until July may cost more.
Category | Projected July PQP Increase | Less Estimated 2 Months Unused COE Value | Estimated Net Benefit of Renewing in May |
Cat A | +$11,038 | -$1,872 | +$9,166 |
Cat B | +$9,914 | -$1,910 | +$8,004 |
Cat C | +$7,686 | -$1,298 | +$6,388 |
This is why renewing early can still make financial sense. Yes, you give up part of the remaining COE period. But based on this projection, the potential increase in PQP may be much larger than the unused value of your current COE.
What About Starting Instalments Earlier?
This is another important point. If you renew now and take a COE renewal loan, you may start paying instalments earlier than if you wait until June or July. That affects your short-term cash flow.
However, starting earlier does not necessarily mean you are paying extra for nothing. The instalments go toward your renewal loan. The bigger issue is whether waiting causes you to finance a much higher PQP.
For illustration, we used a 10-year COE renewal, 100% PQP financing, 7-year repayment, and a 2.78% flat p.a. sample interest rate.
Category | Renew in May | Wait Till Projected June PQP | Wait Till Projected July PQP |
Cat A | $1,597/mth | $1,685/mth | $1,754/mth |
Cat B | $1,629/mth | $1,716/mth | $1,770/mth |
Cat C | $1,108/mth | $1,167/mth | $1,217/mth |
This shows the practical difference. If you renew now, you may start instalments earlier, but your monthly instalment may be lower because your PQP loan amount is lower. If you wait, you may delay instalments for a short period, but you may end up financing a higher PQP and paying more every month after that.
Total Cost Difference: Renewing Now vs Waiting Till July
If the projected July PQP happens, the extra financed cost of waiting can be significant. After factoring in the estimated value of 2 months of unused COE balance, the net advantage of renewing in May could still be:
Category | Extra Financed Cost If Waiting Till July | Less Estimated 2 Months Unused COE Value | Estimated Net Advantage of Renewing in May |
Cat A | +$13,186 | -$1,872 | +$11,314 |
Cat B | +$11,843 | -$1,910 | +$9,933 |
Cat C | +$9,182 | -$1,298 | +$7,884 |
Waiting may preserve your remaining COE period and delay instalments, but the higher projected PQP may cost more overall.
So, Should You Renew Your COE Now?
For Category A, Category B and Category C owners whose COE is expiring soon, the numbers currently favour renewing earlier.
That is because:
- The latest COE prices are already higher than the current May PQP.
- PQP may rise in June even if the next COE result simply stays at the latest level.
- PQP may rise further in July if the next few bidding exercises remain firm.
- The projected PQP increase appears larger than the estimated unused COE balance you may give up.
- Renewing earlier may help keep your loan amount and monthly instalment lower.
Final Recommendation
If your COE is expiring soon, you may not want to wait for the next PQP update.
Renewing early does come with trade-offs. You may forfeit the unused COE balance from your current COE, and if you take a loan, your instalments may start earlier.
But based on the latest May 2026 COE result and our projected June and July PQP, the potential cost of waiting appears to be higher than the value of the remaining COE period for many Cat A, Cat B and Cat C owners.
In short: if your COE is due soon, renewing now may help you lock in a lower PQP, reduce your renewal loan amount, and avoid a higher monthly instalment later.
Need Help Renewing Your COE Before PQP Moves Higher?
Get the Best Car Insurance Quotes With 4 Easy Steps!
If your COE is expiring soon, now may be the right time to review your COE renewal options.
Whether you drive a Category A, Category B or Category C vehicle, renewing earlier may help you:
- lock in the current PQP
- avoid the risk of a higher projected PQP
- lower your renewal loan amount
- keep your monthly instalment more manageable
- complete the renewal process smoothly before your COE expires
Speak to us today to check your COE renewal options and financing package
Choose Your Next Step
FAQ
If your COE is expiring soon, renewing now may be better if the next month’s PQP is projected to rise. Based on the latest May 2026 COE result, Cat A, Cat B and Cat C PQP may increase in June and July if future bidding prices remain near the latest level.
If you renew your COE early, LTA states that your new COE starts from the 1st day of the month after renewal. You will forfeit any unused portion of your previous COE.
Unused COE balance refers to the remaining period of your current COE that you have already paid for. If you renew early, you may give up this remaining COE period.
You may give up the unused value of your current COE. However, if PQP rises by more than the value of the unused COE balance, renewing early may still be cheaper overall.
PQP is calculated using the moving average of COE prices over the latest 3 months of bidding exercises. This means higher recent COE results can still push up future PQP, even if the next COE result stays flat.
If the May 2026 2nd bidding result stays at the same level as the May 2026 1st bidding result, the projected June 2026 PQP is about $118,450 for Cat A, $120,674 for Cat B, and $82,077 for Cat C.
If the next 3 bidding exercises remain at the same level as the May 2026 1st bidding result, the projected July 2026 PQP is about $123,362 for Cat A, $124,491 for Cat B, and $85,570 for Cat C.
Waiting allows you to keep your remaining COE period and avoid forfeiting your unused COE balance. However, if PQP rises before your expiry month, you may pay more to renew. The best choice depends on your expiry date, your vehicle category, your cash flow, and the projected PQP movement.
Methodology Notes
- Projection assumes the May 2026 2nd bidding and/or subsequent June biddings close at the same quota premium as the May 2026 1st bidding result.
- Projected June and July PQP figures are estimates calculated using LTA’s stated 3-month moving-average approach.
- Unused COE balance is estimated as May 2026 PQP divided by 120 months for a 10-year COE equivalent.
- Monthly instalment examples are for illustration only and assume 100% PQP financing, a 7-year repayment period, and a 2.78% flat p.a. sample interest rate. Actual approval, rates, terms and repayment amount depend on eligibility and lender assessment.
Sources for Reference
- LTA OneMotoring – COE Renewal:
https://onemotoring.lta.gov.sg/content/onemotoring/home/owning/coe-renewal.html - LTA OneMotoring – COE Open Bidding:
https://onemotoring.lta.gov.sg/content/onemotoring/home/owning/coe-renewal.html - LTA COE Results 2025/2026 PDF:
https://www.lta.gov.sg/content/dam/ltagov/who_we_are/statistics_and_publications/statistics/pdf/M11-COE_Results_2025_2026.pdf - LTA COE Results 2025 PDF:
https://www.lta.gov.sg/content/dam/ltagov/who_we_are/statistics_and_publications/statistics/pdf/M11-COE_Results_2025.pdf - Speed Credit – COE Renewal Loan:
https://www.speedcredit.com.sg/coe-renewal-loan/ - The Car Expo 2026:
https://www.thecarexpo.sg/ - sgCarMart – The Car Expo 2026 news article:
https://www.sgcarmart.com/articles/news/the-car-expo-returns-for-2026-38744