COE Renewal Loans In Singapore
Competitive Rates from 2.78%
Horizon Financial Services is a trusted car loan broker in Singapore, partnering with leading banks to help you secure the right financing for your needs.
From COE renewal loans and used car financing to PHV loans and refinancing, we compare multiple options on your behalf and provide clear, unbiased guidance.
Compare COE renewal loan options from multiple lenders and get approved quickly.
- Rates from 2.78% p.a.
- Financing up to 100% of COE renewal cost
We Work With Major Financial Institutions
Financing Options Available.
At Horizon Financial Services, we offer a range of car loan solutions tailored to your needs:
COE Renewal Loan
Keep your current car running smoothly without breaking the bank. We make your COE renewal simple and fuss-free.
Used Cars
Looking for a reliable pre-owned vehicle? Get loan options and competitive rates across multiple financial institutions stress-free.
PHV Loans
Driving for private hire? Our PHV financing helps you get financing fast, so you can start earning sooner.
Refinancing
Already have a car loan? We can help you refinance for better rates, or lower monthly payments.
What is a COE Renewal Loan
A COE renewal loan allows you to finance the cost of renewing your vehicle’s Certificate of Entitlement (COE) in Singapore. When your COE expires after 10 years, you must pay the Prevailing Quota Premium (PQP) to renew it. Instead of paying the full amount upfront, a loan lets you:
- Spread the cost into monthly installments
- Preserve cash for other expenses
- Continue using your existing vehicle
How much does it cost to renew your COE?
COE renewal cost depends entirely on the PQP, which varies by vehicle category and market COE prices.
For example, if the PQP = $100,000,
10-year renewal = $100,000
5-year renewal = $50,000
COE Renewal Options: 5 Years vs 10 Years
Option
Considerations
10-Year Renewal
Full PQP payable
Eligible for future renewal
5-Year Renewal
50% PQP payable
Cannot be renewed after expiry
Choosing the right option depends on your long-term plans and vehicle condition.
Frequently Asked Questions
To secure a COE renewal loan in Singapore:
- Loans are typically arranged through financial intermediaries working with banks and finance companies
- The loan amount is based on Prevailing Quota Premium (PQP), which changes monthly
We will explain the structure clearly before you proceed, so there are no surprises.
Loan amounts typically depend on:
- The PQP required for your vehicle category
- Your income and credit profile
- The lender's policies
In most cases, financing can cover the 100% of PQP amount.
COE Renewal loan interest rates typically range from 2.78% to 4% p.a.
Your actual rate depends on:
- Credit profile and income stability
- Loan amount and tenure
- Vehicle age and condition
- Lender and loan structure
Request a personalised quote to see your exact rate.
You may qualify if you:
- Own a vehicle nearing COE expiry
- Meet minimum income requirements (varies by lender)
- Are not an undischarged bankrupt
- Are a Singapore Citizen or PR
Even if your credit profile is not perfect, we can help you match with suitable lenders.
No, only 10-year renewals can be extended again.
Yes, financing options may significantly reduce or eliminiate upfront payment,
Typically, the repayment period for COE renewal loan is:
- 5-year COE: Up to 5 years
- 10-year COE: Up to 7 years
The required time for approval varies by lender - however in general, applications can be processed within a few working days once all required documents are submitted.
COE Renewal
- Lower upfront cost (with financing)
- Avoid new car depreciation
- Continue using your current vehicle
New Car Purchase
- Requires new COE
- Higher overall cost
- Faster depreciation
For many drivers, COE renewal can be a more cost-efficient option - but depends on vehicle condition and market prices.
- Step 1: Submit your enquiry through contact form
- Step 2: Receive loan options based on your profile
- Step 3: Select a suitable plan and proceed with COE renewal
Apply for a COE Renewal Loan Today
Get clarity on your options before your COE expires.
Compare rates, understand your repayment, and choose with confidence.
One Application. Multiple Offers. Zero Hassle.
Why waste time filling out endless forms? With Horizon Financial Services, we’ll reach out to top banks and finance providers on your behalf, compare the offers, and present you with the best deals - so you can make a smart choice without the stress.
Hassle-Free Loan Applications
Access major banks and financial institutions across Singapore, all in one go. We believe in transparency - no hidden fees, no surprises - just clear, straightforward loan options tailored to you.
Finance Range of Vehicle Types
Whether it’s a family saloon, a commercial van, a truck, or even specialised equipment, we’ve got financing solutions to match.
Singpass Integration
With SingPass integration, you can submit your application securely in just a few clicks.
Fast Turnaround
Get preliminary results in as little as 24 hours, so you can move forward with your car purchase without delays.
Expert Guidance
Our loan specialists walk you through every step, so you’re never left guessing about terms, rates, or documents.
End-to-End Support
From application to approval, and even after your loan is disbursed, we’re here to support you with any questions or refinancing needs.
Our Proven Track Record
With over $250 million in loans disbursed and more than 3,000 vehicles financed, Horizon Financial Services is trusted by businesses and individuals alike. Our 90% approval rate means you're more likely to get the financing you need — fast.
Loans Disbursed
Vehicles Financed
Success Rate
Apply Today & Drive Your Dream Car Sooner.
