A Quick Guide on Renewing Your COE - DirectAsia Insurance
You remember the day you stopped taking the bus and MRT. The day you got your first car. The comfort, the convenience, the personal space! What’s more, cars go where you actually want to go. Not the bus stop 800 metres from your destination, the other side of the AYE. Meh.
A car becomes even more important if you work on an industrial estate, work late or night-shift, and definitely if you have kids. Ever tried to get a baby and a toddler onto a crowded bus? Again, meh.
We know that a human being will pay unreasonable amounts of their well-earned salary for comfort and convenience - the price of cars in Singapore proves that. But then, like Cinderella’s carriage, all transport in Singapore has a looming fixed time limit before hard decisions have to be made. 10 years. Tick tock, tick tock!
Own A Car Between Eight to Ten Years Old?
Over 100,000 car owners in Singapore have a car between eight to 10 years old. In Singapore, your car must be de-registered after 10 years unless you pay to renew your COE. You can bet there are a few to-do lists out there containing the line ‘find out how to renew COE.’ DirectAsia offers simple steps to help you navigate the process.
How To Renew Your COE
If you want to continue using a car after 10 years, the car’s COE must be renewed. The cost will depend on the Prevailing Quota Premium (PQP). When the vehicle is de-registered, the COE rebate will be available at this time, giving rise to the name COE Car.
PARF, COE and PQP made simple
- PARF vs COE Cars. A Master Class from DirectAsia
- Prevailing Quota Premium (PQP) explained
- Easy PQP calculator here
Advantages and Disadvantages
“With the exclusion of the PARF rebate in the cost, COE car price will be relatively cheaper than a PARF car. COE cars are therefore ideal for car buyers with low budgets. Rapid advancement in technology has led to changes in car designs and massive improvements. From outlook to engine performance, an old car can never keep up with a new car. However, if a COE car is properly maintained, it will still be able to meet the basic needs of a driver.” sgcarmart.com
Make sure you get a car insurance quote, check out loan repayments and tax rates before you buy.
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Invest 5 minutes to see the DirectAsia difference
Buying money-saving, customisable car insurance with DirectAsia is easy:
- Choose what you want, pay how you want and ta-dah! you’re insured in minutes.
- Plus, get a personal claims specialist, 24/7 claims support guarantee and award-winning service, all at a great price.
Get a quote online or call 6665 5555 for one year happier car insurance now!
* Compared to leading car insurers. 16% of DirectAsia customers would save $300 or more compared to the estimated average premium across leading insurers. Cheapest based on average price of more than 12,000 cases, compared to leading car insurers.
