[Renew coe] usually can I or should I engage a car dealer

[sick_and_tired]

Sorry I noob. But is it better to engage as they help handle loan and paper work ? If so, is it at a premium cost ?

 

[reddevil0728]

Sorry I noob. But is it better to engage as they help handle loan and paper work ? If so, is it at a premium cost ?

Have you found out how much they charge?

 

[sick_and_tired]

Have you found out how much they charge?

nope, but I hoping for an advice if anyone did B4 here and is it worthwhile / less hassle

 

[dgeralds]

Anybody planning to renew PQP COE by cash? My COE expiring mid-December 2025. Plan to renew COE 10 years using cash. Seems like loan interest rate is close to 3% for 7 years!

 

[reddevil0728]

Anybody planning to renew PQP COE by cash? My COE expiring mid-December 2025. Plan to renew COE 10 years using cash. Seems like loan interest rate is close to 3% for 7 years!

For such loan is it specific to this or just a personal loan?

 

[dgeralds]

For such loan is it specific to this or just a personal loan?

Im not sure. It is via loan agent. I guess it is specific to COE.

 

[reddevil0728]

Im not sure. It is via loan agent. I guess it is specific to COE.

Right.

what’s your reservations about using cash?

 

[dgeralds]

Right.

what’s your reservations about using cash?

wondering the following:

1. will loan interest rate go down before Dec 2025?
2. Will PQP go up or go down?
3. If I want to renew COE just before expiry (15 Dec 2025) and do not want to have a break in continuity, when will be the last date for application?

 

[reddevil0728]

wondering the following:

1. will loan interest rate go down before Dec 2025?
2. Will PQP go up or go down?

Anybody’s guess tbh

3. If I want to renew COE just before expiry (15 Dec 2025) and do not want to have a break in continuity, when will be the last date for application?

https://onemotoring.lta.gov.sg/content/onemotoring/home/owning/coe-renewal.html
See this

 

[jumpmanz]

Sorry I noob. But is it better to engage as they help handle loan and paper work ? If so, is it at a premium cost ?

the last time i renewed was with lian hong credit. they charge a small admin fee and back then was 3.75% interest of 5 years. You can check them out to see if they suits u but i believe many other credit companies hv this same service.

 

[ykau]

Is the COE renewal loan base on the rule of 72 whereby majority of the interest paid first?
if not, i will go for full loan of $100,000 interest which only $3570 for 10 years.

 

[kebinu]

interest rate is likely to go down, this means you can save $10-$20 a month!

PQP is likely to go down if supply continues to go up but demand remain the same (unlikely as tariff issue may be "gone").

A lot of people are still buying cars...

 

[Asphodeli]

Anybody planning to renew PQP COE by cash? My COE expiring mid-December 2025. Plan to renew COE 10 years using cash. Seems like loan interest rate is close to 3% for 7 years!

OK ah DBS is offering normal hire purchase loan for 2.7%, if yours is from a dealer the rate should be higher a bit