You can renew your COE before the existing COE expires. But it can even stretch up to one month after the expiry date. However, throughout that one month, you won't be able to drive your vehicle until you renew your COE and you will need to pay the late payment fee.
The late renewal fee for different types of vehicles:
|Vehicle type||Late renewal fee|
|Private Motor Car (1,000cc and below)||$50|
|Private Motor Car (1,001cc to 1,600cc)||$100|
|Private Motor Car (1,601cc to 2,000cc)||$150|
|Private Motor Car (2,001cc to 3,000cc)||$200|
|Private Motor Car (More than 3,000cc)||$250|
|Business Service Passenger Vehicle (Company Car)||$250|
|Goods Vehicle and Public Service Vehicle||$250|
When you buy a new vehicle, you’ll have to pay the full price of the car and go through the whole COE bidding process again. But when you renew your COE, there is a lower upfront cost and you’re only required to pay for the Prevailing Quota Premium (PQP).
Depending on your vehicle category and the vehicle's statutory lifespan, you can renew your COE for a period of 5 or 10 years. Here’s a list of vehicle categories:
|Category A||Car up to 1,600cc & 97kW (130bhp)|
|Category B||Car above 1,600cc or 97kW (130bhp)|
|Category C||Goods vehicle and bus|
|Category E||Open for all except motorcycle|
For 5 years renewal, you’ll need to pay 50% of the PQP.
For vehicles A, B, and D – You can only renew your COE for 5 years once. When the renewal period is over, you cannot renew it again and will have to deregister the vehicle.
For vehicles C – You can still renew after the 5 years renewal period. However, the subsequent renewal can only be 5 years long. Once the vehicle reached its statutory lifespan, the vehicle will have to be deregistered.
For 10 years renewal, you’ll need to pay the PQP for your vehicle, depending on its category.
For vehicles A, B and D – you can renew your COE how many times you like after the 10 years is over.
Here’s a tip, if you don’t see yourself using the same vehicle for the next 10 years, opt for the 5 years renewal.
Available all day from 6am to midnight. You will be needing a sufficient amount in your bank account and a payment limit for the amount you are going to pay. This is to ensure that the deduction of the PQP is successful.
If you prefer renewing your COE via post, you’ll need to do so 2 weeks earlier to ensure that your post reaches the LTA before your COE expires. Your post should include the completed application form and payment. The date of your COE renewal application will follow the date that LTA receives your application. And depending on which is earlier, the PQP rates will follow either the application or expiry date.
As a last piece of advice, if you want to avoid having to pay late renewal fees, you can renew your COE before or on the day it expires!
If you are still unsure if you should scrap your car or renew its COE, click here to see if your car is worth renewing COE for. Whichever you decide, do know that Carfeels assist in both COE renewals and car scrapping.Need more clarifications on COE renewal? Book an appointment with us now! If you have any other topics you would like us to discuss next, just let us know!