Due to increased taxes and skyrocketing COE premiums for motorcycles, motorcyclists in Singapore have not had an easy time of things recently. For some, especially those who use their motorcycles for dispatch and deliveries, the high taxes and charges make purchasing a brand new motorcycle impossible, which leaves them no choice but to renew the COE of their existing bike.
Since 2000, Speed Credit has been offering the lowest possible interest rate for COE Renewal Loan for private cars and commercial vehicles in Singapore. We understand the importance of transportation during these hard times, most especially for riders, thus, we have extended our COE Renewal Loan Service for motorcycles too.
On top of our low interest rate for our Motorcycle COE Renewal Loan, we’ve also made sure that all our processes are seamless and hassle-free so you can save time and money.
Enjoy the convenience of not having to queue at LTA, or jump through hoops in OneMotoring. Allow us to answer all your COE loan-related questions for your motorcycle, and let us do all the work for you.
Motorcycle owners interested in renewing COE can opt for a 5 or 10-year renewal. Considering the motorcycle’s current performance and condition, as well as its overall value, the owner needs to decide how long he/she intends to drive it.
For those who aren’t ready to commit to another full 10-year COE cycle, a 5-year COE renewal is recommended. With a 5-year COE renewal, you will only have to pay half of the PQP.
The downside of a 5-year COE renewal is that you can only do this once. At the end of the 5-year renewal period, you won’t be able to renew your motorcycle’s COE again and will have to deregister it.
Fill out our application form or contact us at (+65) 6444 4400 or (+65) 9851 8281. Instructions and other requirements will be sent to you via email by our finance expert. Please check your inbox or spam mail.
Submit all the requirements and/or signed documents needed via email at [email protected]. You will also be advised on the next steps and/or other necessary instructions related to your application.
You will be notified by our car finance expert via email and/or call regarding the status of your application.
Use our COE Renewal Loan Calculator to calculate or get an estimate of your monthly instalment repayments for your motorcycle.
Get a special interest rate of 4.98% when you renew your motorcycle’s COE this April!
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).
Yes, there is a one-time admin fee for Motorcycle COE Renewal Loan.
We provide 100% financing based on the PQP amount.
Loan submission ➜ loan approval ➜ signing of agreement ➜ COE renewal.
Yes, you can. However, the applicant must still be the motorcycle owner and all documents should be approved and signed by him/her.
The best time is 4-6 weeks before your motorcycle’s COE expiry date.
Yes, for a 5-year COE renewal, your motorcycle must be deregistered at the end of the 5-year period. As for a10-year COE renewal, your motorcycle is eligible for a second COE renewal.
Yes, but please take note that if you renew your COE early, LTA will forfeit the remaining PARF & COE rebate of your motorcycle. 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.
COE bidding is only required for new motorcycles. For COE Renewal, we only need to pay the Prevailing Quota Premium (PQP) for your vehicle category to renew your COE Certificate. Speed Credit will also do the COE Renewal for you.
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 cars in Singapore.
Having over 50 years of combined industry experience, Speed Credit has underwritten more than 1.2 billion car loans and has served more than twenty 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.