Frequently Asked Questions

COE Renewal Loan FAQs

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What is the maximum loan amount?

100% of COE amount plus $5000.

For example, if the COE amount is $35,000, the maximum loan amount is $40,000 ($35,000 + $5,000).

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Can the tenure of the loan be shorter?

Yes. You can choose the tenure — from 1 to 7 years.

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How to go about renewing the COE?

Simply contact us at 81016693. Once your loan is approved, we will take care of all the paperwork for you!

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How long does it take for you to renew my COE?

1-2 days after your loan approval.

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What documents are needed to apply for a loan?

Just the following:

  • vehicle log card (you can get yours from onemotoring.com.sg)
  • photocopy of your NRIC/passport
  • latest documents of your income, which can be one of the following:
    • payslips from the last 3 months, or
    • last IRAS Notice of Assessment (NOA), or
    • CPF statements from the last 12 months
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What's the difference between a 5-year and a 10-year COE renewal?

A 5-year COE renewal can only be done once i.e. you can use your car for at most 5 more years.

A 10-year COE renewal can be renewed again i.e. you can keep renewing the COE for your car after the 10 years are up.

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What is the latest time by which I need to submit my application?

At least 2 weeks before your COE validity is up. This will give us ample time to evaluate and renew your COE.

WhatsApp us for an immediate response :)