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Why Get a COE Renewal Loan From Speed Credit?
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FAQs for COE Renewal Loan
At the moment, our COE Renewal Loan interest rate starts from 1.80% – 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.
Loan submission ➜ loan approval ➜ signing of agreement ➜ COE renewal.
How do I submit my COE Renewal Loan application? Do I need to walk-in or can I just send it via email?
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:
The COE expiring is on 15 April 2021 and you wish to renew your COE early in January 2021.
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.