+65 6250 6696 info@coeloan.com.sg

FAQs

Renewing your COE through a financing institution may seem intimidating but we’ve streamlined the process to make it as simple as possible just for you. We know you have questions that’s why we created a comprehensive guide below that will help you navigate through the process of renewing your COE.

How Do I Apply For A COE Renewal Loan

Applying for a COE renewal loan is far simpler than most people think. We are hard at work to make the process as convenient as possible for our customer. Below is a rough outline of what you need to do to successfully apply for a COE Renewal Loan in Singapore:

  1. Decide whether you want to extend your COE for 5 years or 10 years.
  2. Get in touch with one of our loan experts by calling (INSERT NUMBER HERE.)
  3. Submit a copy of the loan application form together with your income documents.
  4. Send us a copy of your new insurance policy so we can approve your application
  5. Wait for our confirmation of the approval, this shouldn’t take longer than 24 hours.
  6. Once approved, you need to meet up with one of our loan experts so you can sign your loan documents.


From here, our loan agents will start processing your COE renewal loan. This step may take anywhere between three to five business days. Once everything is processed and approved, the title of ownership will be given back to you.

Do I Need to Go To The LTA To Renew My COE?

No. We pride ourselves in providing an all inclusive COE renewal service so you don’t have to do any of the leg work.

What Is The Interest Rate For A COE Renewal Loan?

The interest rate varies depending on the age and model of your vehicle. Our loan experts can provide you with a more accurate quotation if you schedule a visit with us by calling 62506696.

How Much Is The Maximum Loanable Amount For A COE Renewal?

COELOAN.com.sg offers 100% financing based on the Prevailing Quota Premium or PQP.

What is The Minimum Loan Amount?

The minimum loan amount is S$10,000.

How Can I Pay For My Monthly Installment?

We offer several payment methods for your convenience – from cheques, GIRO, and bank transfer.

Can I Apply For A COE Renewal Even If I’m Not The Owner Of The Car?

Unfortunately, we only offer COE financing services to the registered owner of the vehicle.

When Should I Apply For A COE Loan Renewal Loan?

We recommend you submit your application six to eight weeks before the expiration of your current COE.

What’s The Difference Between A 5 Year Renewal And A 10 Year Renewal?

When applying for a 5-year COE renewal loan, you must first deregister your car after the prescribed period. Vehicles for a 10 year renewal need not deregister their car and proceed to the second application at the end of the prescribed period.

What Are The Requirements In Order To Qualify For A Loan?

Unfortunately, we only offer COE financing services to the registered owner of the vehicle.

Do I Need a Guarantor?

In an event where you do not meet our qualifications, we can still consider your loan application given you can provide one (1) guarantor.

What Documents Do I Need To Accomplish?

Unfortunately, we only offer COE financing services to the registered owner of the vehicle.

How Long Does It Take To Process My Loan Application?

Loan qualification is done within 24 hours. Once approved, your loan will be released to you within seven working days or less.

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01-11/12/13 One Commonwealth Building, 1 Commonwealth Lane 149544

info@coeloan.com.sg

+65 6250 6696