COE renewal period

[Cybertech]

COE expiring on 11/07/2021 and still considering to renew another 5 years or not. Now there are 2 PQP options to choose and of course will choose the June PQP which is $812 cheaper if decided to renew now. Anyone knows when will the June PQP be remained available after that will be left with only July PQP to select? As my current COE still 2 weeks before expiring.

[Mkl22]

8 minutes ago, Cybertech said:

COE expiring on 11/07/2021 and still considering to renew another 5 years or not. Now there are 2 PQP options to choose and of course will choose the June PQP which is $812 cheaper if decided to renew now. Anyone knows when will the June PQP be remained available after that will be left with only July PQP to select? As my current COE still 2 weeks before expiring.

June PQP will only be available till 30June2021. after that only July will be available

i would just renew using June PQP. since it is cheaper. no point paying extra $812 just for an extra 10Days of use. renew with June PQP,  the car will be valid till 30June2026, renew with JUly PQP it will be till 10July2026.

Take note that renewing with a 5year COE means you condemn the car to death come 2026. a 5year coe cannot be further extended.

[Mustank]

13 minutes ago, Cybertech said:

COE expiring on 11/07/2021 and still considering to renew another 5 years or not. Now there are 2 PQP options to choose and of course will choose the June PQP which is $812 cheaper if decided to renew now. Anyone knows when will the June PQP be remained available after that will be left with only July PQP to select? As my current COE still 2 weeks before expiring.

Karh karh renew 10 years 

[Cybertech]

Is a Hyundai Elantra 2011 MD. Don't think will drive this car beyond 15 years so renew with a 5 years COE good enough.

[Tarzan666]

If you can afford it, renew for 10 years since u forgoing your PARF.

Anyway LTA will refund u back the remainder if after 5 years u chose to scrap the car or even can try to sell it on your own since COE is still renewable, will be more enticing to buyer. 

[Cybertech]

@Mkl22 Thanks for the info. What about the road tax and car insurance start date if I renew the COE next week before 30th June? As my current road tax and insurance are until 11/07/2021.

[Cybertech]

2 minutes ago, Tarzan666 said:

If you can afford it, renew for 10 years since u forgoing your PARF.

Anyway LTA will refund u back the remainder if after 5 years u chose to scrap the car or even can try to sell it on your own since COE is still renewable, will be more enticing to buyer. 

Thanks will consider your suggestion. I am ok with the $45,272 10 years COE renewal rate.

[Mkl22]

5 minutes ago, Cybertech said:

@Mkl22 Thanks for the info. What about the road tax and car insurance start date if I renew the COE next week before 30th June? As my current road tax and insurance are until 11/07/2021.

COE renewal is not tied to the roadtax and insurance. your roadtax and insurance renewal dates will still be 11Jul.

Thus when it comes to 30June2026. LTA will refund you the balance of the roadtax unused. and you need to get back that balance of 10days of unused insurance (if any)

[Mkl22]

17 minutes ago, Cybertech said:

Is a Hyundai Elantra 2011 MD. Don't think will drive this car beyond 15 years so renew with a 5 years COE good enough.

take note that come 2026 you might still see higher COE prices based on historical data. thus renewing 10years gives you the flexibility of maybe waiting it out till 2028/9 where the coe prices might be lower.

we have seen previous data showing low coe prices in 2008/9 and in 2018/9, thus going by this assumption, then next low will probably be in 2028/9.

always try to buy low sell low. thus if you take an exit date in 6/2028 means your depreciation for these 7years would be PARF + 7x4.5k.

[Optramagnum]

26 minutes ago, Cybertech said:

Thanks will consider your suggestion. I am ok with the $45,272 10 years COE renewal rate.

If possible go for 10yrs like I did. You don't really have to to drive for another 10yrs. Once you think it is beyond economical repair, scrap it and get back remaining COE money. Deciding if 5 or 10yrs COE renewal is like putting that extra 50% into bank, but no interest return. No nett loss.. 

 

For road tax & insurance, I went internet banking to increase my daily transaction limit and renewed my COE online within 10mins. Then I bought insurance and renew road tax online as well. Don't wait until last day because the insurance co. need time to update the system for your road tax renewal. 

 

Good luck. 

[Volvobrick]

I renewed 1 year in advance. Probably 6k difference.

[Mustank]

1 hour ago, Tarzan666 said:

 

1 hour ago, Tarzan666 said:

If you can afford it, renew for 10 years since u forgoing your PARF.

Anyway LTA will refund u back the remainder if after 5 years u chose to scrap the car or even can try to sell it on your own since COE is still renewable, will be more enticing to buyer. 

Wah!!!! Where you go sia

you like thousand disappear Liao

[Tarzan666]

@Mustank 

Long time nvr log in, but recently been checking once a while, realised my rank demoted to 2nd gear.. haha

Anyway to TS, renew 10 years, i renewed too, at $30k thank god, before coe shot up. Hope your car condition is ok before you renew.

[Cybertech]

4 hours ago, Volvobrick said:

I renewed 1 year in advance. Probably 6k difference.

ha chinese often used words only if we know will do it then 😄 Now is 13k difference compare to a year ago.

[lexiton]

10 years renewal no brainer

[Ct3833]

10 hours ago, Cybertech said:

Thanks will consider your suggestion. I am ok with the $45,272 10 years COE renewal rate.

Just pay for 10 years so that you have the flexibility to drive beyond 5 years, any time along the way when  you feel like scrapping it, you will still get back the balanced coe value. Both my coe cars are 10 years. 

[Ct3833]

5 hours ago, Cybertech said:

ha chinese often used words only if we know will do it then 😄 Now is 13k difference compare to a year ago.

in around mid 2019 when COE was on the uptrend, I decided to renew both my cars in one go. One had one month left and other one left 6 more months to go, but i still proceed to renew both in anticipating that the COE would go up. In the end the Cat B COE didnt go up significantly  but comparing with now, my COE s are a lot cheaper. it has been more than 2 years since my renewal, no regrets. just go renew it when you think time is right, no need to time it so precisely, if you spread the difference over  5 or 10 years, the different is so insignificant.

[Volvobrick]

1 hour ago, Ct3833 said:

in around mid 2019 when COE was on the uptrend, I decided to renew both my cars in one go. One had one month left and other one left 6 more months to go, but i still proceed to renew both in anticipating that the COE would go up. In the end the Cat B COE didnt go up significantly  but comparing with now, my COE s are a lot cheaper. it has been more than 2 years since my renewal, no regrets. just go renew it when you think time is right, no need to time it so precisely, if you spread the difference over  5 or 10 years, the different is so insignificant.

Mine also around the same time. About 34k I think.