COE Financing

Finance your Certificate of Entitlement (COE) with one of the most competitive interest rates in town for both private cars and commercial vehicles. Retain your car on the road by renewing 5-year or 10-year COE could be a wise choice without saying goodbye to your comfortable ride.

Enjoy the fast processing and hassle free services on your COE loan application. We strive to provide you the top notch service along the way.

We are also able to provide you motor financing solutions in:
1) New car and commercial vehicle purchase
2) Used car and commercial vehicle purchase

Find out more about Motor Financing here

COE Financing Benefits: 

Image of Benefits of COE Financing with ABWIN in Singapore

Things you should know about your car’s COE renewal

1. PARF Value

You can renew your vehicle COE in advance before it’s expiry and eligible for PARF rebate if your vehicle is less than 10 years.

For example, if the COE of your vehicle expires on 31st December 2019 and you wish to renew earlier using June 2019 Prevailing Quota Premium (PQP), the new PQP will starts 1st July 2019. You are still eligible for PARF rebate if you scrap your vehicle before 31st December 2019.

2. Road Tax

There is an additional surcharge applied on the car’s road tax for cars on the road over 10-year old. This amount is chargeable up to 50% over the car’s regular road tax rate per annum. The additional surcharge can be significant for a large capacity engine car.

3. Maintenance and Repair Costs

Another factor you may consider whether to renew your car COE is the maintenance cost. As your car gets older, the cost of servicing will increase. Cost of maintenance and repair are very much depending on the condition of the car. Besides, you may want to take note on the availability of spare parts for your car. If you have a less common car, you could face the difficulty of getting the spare parts or encounter a long waiting time while ordering the replacement parts.

4. Cost of Renewing COE

By knowing the cost of Prevailing Quota Premium (PQP), it will help you to determine how much is the cost different between renewing your car COE and buying a newer car. You were given an option to renew 5-year COE, which you are only paying half of the PQP. This is very much depending on how much you are willing to spend on a newer car such as down payment and monthly instalment to pay off the loan.

5. Less Depreciation of a Renewed COE Car

By renewing your car’s COE, you could expect a less depreciation of your car over the next 5-year or 10-year as you only pay the cost of new COE. The depreciation will simply be a straight-line division of the renewal premium over the next 5-year or 10-year.

– 18 years old and above*

– Singaporean and Singapore

– PR Foreigner (a local guarantor is required)*

Company Application:

1. A copy of company ACRA

2. Front and back copies of company director or sole proprietor NRIC

3. A copy of vehicle log card.

4. Income documents
– Latest 2 years Income Tax Notice of Assessment or
– Latest 3 months of Company Bank Statement

5. Complete application form

Individual Application (Self Employed & Salaried Employee):

1. Front and back copies of NRIC

2. A copy of vehicle log card

3. Income documents
– Latest 3 months of computerised payslip
– Latest 2 years Income Tax Notice of Assessment
– Latest 12 months CPF Contribution History

4. Complete application form

5. Passport, Proof of Residence and Work Permit with validity date 6 months before expiry date (for foreigners only)

COE Financing

1. Car or commercial vehicle COE loan submission to Hire Purchase Department. Application can be submitted over counter or via email [email protected]

2. Car or commercial vehicle COE loan application processed by Credit Loan Team.

3. COE loan application result promise to be delivered by next business day**

**In-house loan application only.

Contact us at 6411 7001 or send us a message at our enquiry form to find out more.


*Terms & Conditions apply.