Renewal Cost (PQP) — this month
When your car reaches its 10th year, you don't need to bid in the open market again. Instead, you pay the Prevailing Quota Premium (PQP) to extend its life. The PQP is calculated from a 3-month moving average of COE bidding prices, updated automatically after each month's second bidding exercise.
Category A
$100,000
10-year renewal cost
Category B
$122,000
10-year renewal cost
Category C
$88,000
10-year renewal cost
How PQP Works
While a fresh COE requires competitive bidding twice a month, renewing uses the PQP — a fixed, monthly rate based on recent bidding averages. This gives you a clear, predictable cost to keep your car on the road without bidding stress.
The Trade-Off: PARF Rebate
Renewing means forfeiting your car's PARF (Preferential Additional Registration Fee) rebate — a value you'd otherwise get back if you scrapped it. In return, you avoid a massive upfront downpayment for a new vehicle and keep a car you already trust. We'll map out these exact trade-offs so you can make an informed choice.
Singapore's Independent COE Renewal Specialist
Run your COE numbers in under a minute.
Renew your COE loan from 2.48% p.a. with $0 downpayment and a FREE exact quote — move the sliders for a live estimate. T&Cs apply.
From $871/month
100% Financing
$0 Downpayment
Hassle-Free
Fetching live LTA PQP data…
1. Your COE category
2. Renewal & repayment term
3. Your rebate
Cash back to youEst. Monthly
$1,022
/mo
Cash Rebate
$0
one-time
Based on 2.48% p.a. • $0 downpayment • example PQP
Calculations utilize current official Prevailing Quota Premium (PQP) data. Your final customized rate is subject to vehicle age and bank approval — claim your free quote below.
Cash Back On Every Renewal
Get up to 100% commission rebate when you take up car insurance with us.
Because we don't carry dealership overhead, we pass our commission straight back to you. Take a 50% cash rebate, or take up 1 year car insurance with us to unlock the full 100% cash rebate.
50%
Cash Rebate
Straight back to your pocket, no strings attached.
100%
Rebate with Car Insurance
Take up 1 year car insurance with us to unlock the full 100% cash rebate.
How It Works
We keep it simple: Renew your COE in 4 easy steps.
1. Share Your Car Details
Send us your car plate and expiry date over WhatsApp in less than a minute.
2. Review Real Cost Comparisons
Get an accurate breakdown of your PQP, with a side-by-side comparison of 5-year and 10-year renewal options.
3. Lock In Your Loan
We submit your application to the banks and chase the approval for you.
4. Sit Back & Relax
From LTA documents to final submissions, we handle everything seamlessly — you just decide.
More than just rate quotes. Transparent advice.
From your initial message through to loan approval, expect honest guidance every step of the way.
Speak with a Specialist →100% Unbiased Advice
We don't sell cars, so our only focus is getting you the best renewal deal.
Up to 100% Commission Rebate
We pass our commission back to you — take 50% cash, or 100% with a year of car insurance.
Zero Paperwork Stress
From LTA submissions to bank processing, we handle every detail for you.
Comprehensive Insurance Check
We evaluate competitive insurance options with your renewal, ensuring total coverage.
Lightning-Fast Responses
Get real answers via WhatsApp in minutes, skipping the typical waiting time.
Pressure-Free Process
We give you clear facts and realistic timelines without any artificial urgency.
Why SGRenewDrive
Direct Bank Rates Vs. Dealer Financing
In-house dealer packages are designed to protect their margins. As an independent specialist, SG RenewDrive secures clear, transparent bank loans tailored entirely on your terms.
Interest rate
SGRenewDrive: Transparent rate quoted upfront
Dealer: Bundled into the deal, not always itemised
Admin fees
SGRenewDrive: $0 admin fees (T&Cs apply)
Dealer: High admin fees
Who it's for
SGRenewDrive: Independent — we don't sell cars
Dealer: Tied to the dealer's own sale or trade-in
Who chases the approval
SGRenewDrive: We submit and follow up with the bank for you
Dealer: You deal with the dealer's finance desk
Commission
SGRenewDrive: Passed back to you — up to 100% rebate
Dealer: Kept by the dealer
Get your exact breakdown now.
Estimates are a great starting point, but let's look at your actual figures. Submit your details below to open WhatsApp with your info pre-filled — you'll receive your custom monthly rate with zero sales pressure.
- Fast response — usually within minutes
- 100% free with no obligation to commit
- Up to 100% commission rebate
FAQ
Everything you need to know about COE renewal.
Still unsure about the process? Skip the reading and chat directly with a specialist on WhatsApp.
Chat with us →1 Why choose SG RenewDrive instead of a car dealer?
We're independent — not a dealer, not a consignment agent. Dealers earn more when you replace your car, so that's what they push. We carry no such overhead, so we give more back to you, with full transparency on every cost.
2 Should I renew for 5 years or 10 years?
It depends on your budget and how long you plan to keep the car. A 5-year renewal costs half the PQP, but ends in scrapping. A 10-year renewal costs more upfront but can be renewed again later. We'll map out both cost structures for you.
3 When is the best time to renew my COE?
You can renew within the last month before expiry using that month's PQP, or up to 5 months early using an earlier PQP. Submitting is free, so a rejection from one bank still leaves time to try others — and we secure your approval before you need to commit to a start date.
For example, if your COE expires 5 September 2026: renewing off August's PQP starts your new COE on 1 September (the first of the next month); renewing off September's PQP starts it on 4 September.
4 What happens if my COE has already expired? Can I still renew it?
Yes, you have a grace period of up to 1 month after expiry, subject to an LTA late payment fee ($50–$250, depending on engine capacity). Your car can't be driven during this time.
5 Do I need to go through vehicle inspection before renewing?
If your car is due for periodic inspection (check your LTA road tax notice), you must pass it before the COE can be renewed.
6 What's your current COE loan rate?
From 2.48% p.a. We'll confirm your exact monthly repayment before you commit to anything.
7 Are there any fees to use SG RenewDrive?
You'll never pay admin fees or hidden costs — we cover the LTA and admin costs ourselves from our own commission. Your only expense is the regular monthly loan instalment once approved. T&Cs apply.
8 How does the commission rebate work?
When you renew with us, the bank pays us a commission for facilitating your loan. Since we carry no dealership overhead, we pass that back to you — 50% in cash, or 100% if you take up 1 year car insurance with us. Your exact rebate depends on your category, term, and loan amount — check the calculator above.
9 How long does the whole loan approval and renewal process take?
The loan approval typically takes 1 to 3 working days. Once approved, we handle the LTA settlement instantly so your car stays legal on the road.
10 Can I settle my renewal loan early?
Yes, early settlement is always possible. The penalty usually has two parts: 1% (new passenger cars) or 2% (other segments) of the original financed amount, plus 20% of the unused interest (Rule of 78). Rates vary by lender — always confirm the exact figures with your bank before settling.