We are sorry, you cannot proceed with this COE Renewal Loan Application.
For vehicles from Categories A & B:
You can only renew your COE for 5 years only once. When the 5–year renewal period is over, you cannot renew again and will have to deregister the vehicle.
For more information, please visit https://onemotoring.lta.gov.sg/content/onemotoring/home/owning/coe-renewal.html.
If you need help with the deregistration or disposal of your vehicle, please send us a message at https://www.speedcredit.com.sg/contact-us/.
For vehicles from Category C:
5 Years Renewal
Please take note that when you renew your vehicle's COE for 5 years, you can still continue to renew it after the first 5-year renewal period is over. However, the subsequent renewals can only be for 5–year periods. Once your vehicle reaches the end of its statutory lifespan of 20 years, you can no longer renew its COE, and the vehicle will be deregistered.
10 Years Renewal
Please take note that when you renew your vehicle's COE for 10 years, you can no longer renew its COE, and the vehicle will be deregistered.
We have noted that the loan amount that you require is more than the PQP amount.
Please take note that the additional loan amount (in excess of the PQP amount) will require further evaluation/assessment and approval on Speed Credit's end.
If you wish to proceed to apply, Speed Credit will temporarily provide you with an In-Principle Approval (IPA) for the PQP amount. Should you be deemed eligible to loan more than the PQP amount, we will proceed to approve your loan amount request and process your application accordingly.
We have noted that your vehicle's age is or above 20 years.
Our In-principle Approval (IPA) for COE Renewal Loan is only applicable for vehicles less than 20 years old. If you wish to proceed, your application will have to be reviewed and evaluated further.
Should you be deemed eligible to loan, we will proceed to approve your loan amount request and process your application accordingly.
Financing & Loan Approval
Your COE Renewal Loan has been approved.
We’ve sent you additional information through the email address that you have provided. Please check your spam folder if you are not able to find the email in your inbox.
You will be receiving a call from one of our finance experts within 1-2 business days. Thank you and we look forward to speaking with you soon!
For any enquiries, please call us at (+65) 6444 4400 or (+65) 9851 8281 or email us at firstname.lastname@example.org.
At the moment, our COE Renewal Loan interest rate starts from 2.78% – this interest rate may vary from time to time. To check our current interest rate offer(s) please fill out our enquiry form and our car finance and COE expert will then contact and advise you on this.
As for the repayment period, it depends if you are opting for a 5-year (4 years repayment) or a 10-year COE renewal (7 years repayment).
There is a one-time admin fee and it varies from the range of loan packages we offer.
There is no difference in PQP between OPC/ROPC and Normal car.
We provide 100% financing based on the PQP amount. However, on a case-by-case basis, we do offer more than 100% PQP at a higher interest rate for passenger vehicles.
Loan submission ➜ loan approval ➜ signing of agreement ➜ COE renewal.
Yes, but please take note that if you renew your COE early, LTA will forfeit the remaining PARF & COE rebate of your vehicle. Below is an example for your reference:
Situation:The COE expiring is on 15 April 2021 and you wish to renew your COE early in January 2021.
Renewal Process:The COE will be renewed using January’s PQP, and the COE expiry will then change from 15 April 2031 to 31 January 2031.
Please submit your application as early as possible as the COE has to be renewed before the end of January.
With the largest network of banks, financial institutions, and insurance partners, Speed Credit has been offering tailored car financing and car insurance solutions for all types of car owners in Singapore.
Having over 50 years of combined industry experience, Speed Credit has underwritten more than 1.7 billion car loans and has served more than fifty-five thousand car owners in Singapore.
We have always been committed to offering the lowest car interest rates, with the most flexible and comprehensive financing packages as we want to ensure that all our customers get the most value for their car and loan.