COE Prices

Supply and demand, as well as the economic condition, drive COE prices in Singapore. The supply refers to the number of COE quotas available, while also determined by various factors, including the number of vehicle deregistrations and a net increase in the total number of car populations.

Meanwhile, the demand applies to the number of people who apply for a COE. This means that the more people participating in the auction, the higher the COE price will be.

There are three options for accomplishing this. You can begin by using a digital service by LTA. On the website of the Land Transport Authority (LTA) of Singapore, you can fill out an online form (check all LTA forms). You must enter your vehicle number, type of owner ID, and preferred renewal date, as well as other details. Then proceed with your payment online.

You can make payments using OCBC Plus!, POSB, Citibank, UOB (eNETS Debit), Standard Chartered Bank, and DBS. Some financial institutions also offer loans for the COE amount. Although bank COE renewal loans provide much lower interest rates, and you can easily secure a loan with a good credit score. But take note that not all banks offer’COE renewal only’ loans.

If you’re paying by cheque, be sure to include your contact information and vehicle identification number on the back. You can also use a cashier’s order instead.

The third choice is to fill out the same application form but submit it to LTA’s Customer Service Centre instead of mailing it to LTA. Their service centre is available from Monday to Friday, 8 a.m. to 4.30 p.m., and Saturdays from 8 a.m. to 12 p.m.

Prevailing Quota Premium (PQP) refers to the cost of extending or renewing a COE for a vehicle that is already in use. The PQP is calculated using the moving average of the QP in the last three months.

The COE of all the vehicle categories can be renewed for five years or ten years. Renewing of COE after ten years does not require you to participate in the open bidding system again. You will just have to pay the PQP of your existing vehicle. For another five years, you will have to pay 50% of the PQP.

First of all, you have the option of extending your COE for another 5 or 10 years. However, the length of the renewal will depend on the statutory lifespan and the category of the car. The 10-year revalidation period can be extended indefinitely.

If you choose the 5-year option, you will not be able to renew the COE once this period is complete. The car will have to be deregistered permanently.

Second, you have the option to deregister and sell your metal steed. If you opt for this option, you will receive a PARF (Preferential Additional Registration Fee) refund. It is a refund offered to car owners who want to export or scrap their vehicles before the first ten years without using the remainder of their COE. After ten years, the PARF value will be forfeited.

Now, once your COE expires before you have revalidated it, you must pay a penalty fee to get the job done within a month. The costs vary from $50 to $250, depending on the type of vehicle. If the car owner fails to renew within a month, they must deregister the vehicle.

To extend your COE for another five years, you must pay half (50%) of the PQP. Check your vehicle category below for information about what you’ll need to know when renewing your COE for another five years.

• For vehicles from Categories A and B

  You can only extend your COE for five years once. When the 5-year extension period expires, you will be unable to renew and must deregister the car.

• For vehicles from Category C

  When you renew your vehicle’s COE for five years, you can continue to renew it after the initial 5-year term expires. Subsequent renewals, however, can only be for 5–year terms. When the vehicle’s statutory plan expires, you will no longer be able to extend its COE, and the vehicle will be deregistered.