COE renewal or get a 2nd hand car?

[Shull]

Bros,

 

i would like to know how this renewal of COE(aka buy new COE) works

 

1) If say my current COE ending at 2011..then if i buy another COE, the new COE is up to (a)2019 or (b)2021?

 

2) if in the case of (a) then what will happen the remaining value of my current COE

 

3) How do i go about buying the new COE?

 

Thanks

[Snookium]

Bros,

 

i would like to know how this renewal of COE(aka buy new COE) works

 

1) If say my current COE ending at 2011..then if i buy another COE, the new COE is up to (a)2019 or (b)2021? ANS: 2019

 

2) if in the case of (a) then what will happen the remaining value of my current COE ANS : Forfeited

 

3) How do i go about buying the new COE? Ans: Go find any dealer.... pay him a admin fee for that.

 

Thanks

 

[Akula]

1) Starts from the day the new COE becomes active.

 

2) Kenna makan

 

3) Can go down to LTA Sin Ming to do the paper work.

 

 

[Yamrxz]

To renew coe online go to https://vrl.lta.gov.sg/lta/vrl/action/pubfunc?ID=RenewCOE

[Sky61]

1) 2019...thats if u renew this yr

 

2)as wat snookium mention,forfeited. ur new coe rebate would be based on ur new coe.

 

3)no need to find dealer,u can do it on ur own. either thru online LTA website(u must have a dbs/posb online banking account) or go down to sin ming LTA and fill up a form on the spot (payment thru check,cash,cashiers order)

[Shull]

thanks to all the bros who replied..

 

1 more thing..how much do i pay for the new COE? the last price or do i need to bid 1 myself?

[Akula]

There's a thing call PQP, which if not mistaken, is the average of the last 3 months of the particular Category of COE that you wish to renew with. Pay that amt.

[Deranged]

Dear Bros ...

I need some advice on the renewal of COE. My car is registered in Jun 2005 & I'm thinking of renewing COE for another 5 years when the term is up.

I read that if I renew the COE for another 5 years, I'll pay 50% of the PQP but the catch is the balance of the current COE will be forfeited.

How do you calculate the current COE value of a 2005 car? Any bros able to advice if it's worth renewing?

 

Thanks in advance, appreciate it!

[Nullifi3d]

Dear Bros ...

I need some advice on the renewal of COE. My car is registered in Jun 2005 & I'm thinking of renewing COE for another 5 years when the term is up.

I read that if I renew the COE for another 5 years, I'll pay 50% of the PQP but the catch is the balance of the current COE will be forfeited.

How do you calculate the current COE value of a 2005 car? Any bros able to advice if it's worth renewing?

 

Thanks in advance, appreciate it!

If you renew for 5 years only, the COE becomes un-renewable at the end of 5 years.

[Old-driver]

Dear Bros ...

I need some advice on the renewal of COE. My car is registered in Jun 2005 & I'm thinking of renewing COE for another 5 years when the term is up.

I read that if I renew the COE for another 5 years, I'll pay 50% of the PQP but the catch is the balance of the current COE will be forfeited.

How do you calculate the current COE value of a 2005 car? Any bros able to advice if it's worth renewing?

 

Thanks in advance, appreciate it!

If you renew now, the new 5-year extension starts now and not 5 years from Jun 2015. And yes, u lose out on whatever is left on your current COE.

 

Renew when the time is nearer and it could also be lower

[Watwheels]

Dear Bros ...

I need some advice on the renewal of COE. My car is registered in Jun 2005 & I'm thinking of renewing COE for another 5 years when the term is up.

I read that if I renew the COE for another 5 years, I'll pay 50% of the PQP but the catch is the balance of the current COE will be forfeited.

How do you calculate the current COE value of a 2005 car? Any bros able to advice if it's worth renewing?

 

Thanks in advance, appreciate it!

Use the onemotoring portal to see the PQP rates.... https://vrl.lta.gov.sg/lta/vrl/action/pubfu...EnquirePQPRates

 

COE value divided by 10 lor. Yours is 2005 coe ...around 14k...divided by 10years will be 1.4k...2 years left so x2...2.8k. You will loose ard 2.8k if you renew now.

 

Now the PQP for month of June is around 65k. 5 years renewal is 32.5k.

 

renewal form .... http://www.onemotoring.com.sg/publish/onem...20%28COE%29.pdf

 

To be honest nobody can predict COE prices but my guess is it will still be high. Just look at our congested roads and plenty of ppl are waiting for the opportunity to change car.

 

Worth or not, you decide.

[Aventador]

How do you calculate the current COE value of a 2005 car? Any bros able to advice if it's worth renewing?

 

Thanks in advance, appreciate it!

 

As mentioned above, your current COE cost $1.4k per year

 

Current COE pqp is $6.5k per year. Why would you want to pay more for next 2 yrs. And in effect you are only extending your COE by 3 yrs.

 

In addition , you have 2 yrs more to catch a lower COE average

 

There is no logic at all. Sometimes doing nothing is also an option

Edited July 16, 2013 by Aventador

[Mits_jc]

Take note if you renew ur COE, whatever PARF rebate remaining at the end of the vehicle lifespan will also be forfeited, I'm addition to whatever's left of ur current COE.

 

If you renew now, the new 5-year extension starts now and not 5 years from Jun 2015. And yes, u lose out on whatever is left on your current COE.

 

Renew when the time is nearer and it could also be lower

 

[Dafansu]

not worth to renew, current PQP is about 65k

[Beng2]

Dear Bros ...

I need some advice on the renewal of COE. My car is registered in Jun 2005 & I'm thinking of renewing COE for another 5 years when the term is up.

I read that if I renew the COE for another 5 years, I'll pay 50% of the PQP but the catch is the balance of the current COE will be forfeited.

How do you calculate the current COE value of a 2005 car? Any bros able to advice if it's worth renewing?

 

Thanks in advance, appreciate it!

Not worth it. As mentioned, you lose your PARF and remaining value of current COE, in addition to whatever car body price you can get. You will also incur a new depreciation of $6k-plus p.a., and road tax increment of 10% per year (up to 150%). For 5-year renewal, you die die must deregister your car when the new COE expires.

 

Worse, in 2014 or 2015, the COE premiums could drop and you will feel even more pain.

[Hosaybo]

Dear Bros ...

I need some advice on the renewal of COE. My car is registered in Jun 2005 & I'm thinking of renewing COE for another 5 years when the term is up.

I read that if I renew the COE for another 5 years, I'll pay 50% of the PQP but the catch is the balance of the current COE will be forfeited.

How do you calculate the current COE value of a 2005 car? Any bros able to advice if it's worth renewing?

 

Thanks in advance, appreciate it!

even if you decide to go ahead to renew, why do it now? Do you expect the COE to go substantially higher than the current level.

 

Just wait till time is up and decide for yourself. Maybe that time, due to increase supply, the coe might by around 40K.

[Speak_listen]

bro and sis,

if my car is opc and i want renew the coe, i pay the full amount or how?

 

thanks.

[Forte3737]

not worth to renew, current PQP is about 65k

 

renew coe is cheaper than buying new car.

as for buying 2nd hand cars, a coe car depreciation is still lower than a 2nd hand car.

therefore worthwhile to renew provided the car has been maintained well