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Old 27-06-2020, 11:55 AM   #1
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Question on 5 year COE renewal

Hi all, my car is reaching its 10 year mark soon, and I am seriously considering renewing the COE for 5 years. Reason being the car is still generally in good running condition with regular preventive maintenance done. I have worked out the math and seems like renewing is the best option for me right now (with a reasonable PQP, hopefully).

Only 1 big question is this: Assuming I renew for 5 years, lets say I decide to scrap the car after 3 years, do I get back the balance pro-rated 2 years of unused COE?

I searched around and only got the info for 10 years renewal. Would appreciate if any one has knowledge/experience in this matter for 5 year renewal... Thank u!
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Old 27-06-2020, 12:06 PM   #2
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Yes pro rated Coe left.
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Old 27-06-2020, 12:07 PM   #3
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You will get back the unused COE
Depending on vehicle, you might lose more from forfeiting PARF
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Old 27-06-2020, 01:29 PM   #4
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Hi all, my car is reaching its 10 year mark soon, and I am seriously considering renewing the COE for 5 years. Reason being the car is still generally in good running condition with regular preventive maintenance done. I have worked out the math and seems like renewing is the best option for me right now (with a reasonable PQP, hopefully).

Only 1 big question is this: Assuming I renew for 5 years, lets say I decide to scrap the car after 3 years, do I get back the balance pro-rated 2 years of unused COE?

I searched around and only got the info for 10 years renewal. Would appreciate if any one has knowledge/experience in this matter for 5 year renewal... Thank u!
Get back unused COE. Maybe, couple of hundreds for the body.
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Old 27-06-2020, 01:34 PM   #5
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If not maybe can sell on sgcarmart. Maybe can fetch few k more plus your remaining coe.
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Old 27-06-2020, 01:50 PM   #6
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if you can, go for the 10-year COE renewal. Your PARF foregone is depreciated over 10-years rather than 5. And there is always the option to renew again at the end of the 10-years.
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Old 27-06-2020, 02:24 PM   #7
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OP already made decision to renew 5 instead of 10. And his thinking already shows he intend to change car before the 5 years is up. Probably waiting for coe to fall further before going in.
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Old 27-06-2020, 05:49 PM   #8
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yes u will get back pro rated pqp u paid for. but i think its a better option to sell to dealer or direct owner posting in sgcarmart or wherever u deem fit.
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Old 27-06-2020, 06:17 PM   #9
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if you can, go for the 10-year COE renewal. Your PARF foregone is depreciated over 10-years rather than 5. And there is always the option to renew again at the end of the 10-years.
If the car condition and reliability is good should go for 10 rather than 5 years. I should have went for 10 years COE renewal for my Lancer CS3, next year May 2021 end of 5 years COE and the car still in very good condition. My workshop guy said CS3 can easily last another 10 years with proper maintenance and parts wear and tear replacement.
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Old 27-06-2020, 06:25 PM   #10
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I used to have a one owner Suzuki carry 1.3 from my late fathe, at its 16 years @ 210k km, keep having issues until I give up and scarp it. So I would renew 5 years simple as that. Unless those classic cars you want to keep, if not it will be a drag.
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Old 27-06-2020, 06:34 PM   #11
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Even if you renew 10 years and scrap at the 16th year, you’ll still get back the prorated remaining COE value left. No reason to renew 5 years unless cash is really an issue since you’ll lose the ARF once you renew your COE in either case
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Old 27-06-2020, 06:49 PM   #12
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The 5-year no renewal option is just bad policy in my opinion.
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Old 27-06-2020, 06:51 PM   #13
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The 5-year no renewal option is just bad policy in my opinion.
This one I agreed...
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Old 27-06-2020, 07:57 PM   #14
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This one I agreed...
Think everyone except Govt/LTA agrees. Dunno why they don’t want to change.
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Old 27-06-2020, 08:56 PM   #15
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Gahmen only wants your $, they don't need you to agree with their policy

10 year COE you need to take loan. 5 years mostly can get by without loan.

TS should also factor in if he is taking loan.
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