Frequently Asked Questions
Frequently Asked Questions
COE Car Financing FAQs
1What is ValueMax’s COE Renewal Loan?
As car prices in Singapore remain high, renewing the COE (Certificate of Entitlement) can be more cost-effective than purchasing a new car.
Modern vehicles are durable and can last over 10 years, making COE renewal a viable option.
ValueMax’s COE Renewal Loan is specifically tailored to help you renew your COE with minimal hassle.
2How many years can I take a loan for?
You can apply for a loan term of up to seven years.
3What is the maximum financing amount for COE Renewal Loan?
ValueMax can finance up to 100% of the PQP (Prevailing Quota Premium), covering the full cost of your COE renewal.
4What are the minimum requirements in order to get a COE Renewal Loan?
- Age: Between 21 and 65 years
- Annual Income: Minimum SGD 30,000 (available to both salaried and self-employed individuals, including Singapore Citizens and Permanent Residents)
5What are the documents required for submission?
You’ll need to submit the following documents:
- A photocopy of your identity card or passport
- Vehicle Log Card from LTA One Motoring
- Proof of Income, which can be:
- CPF contribution statement for the last 12 months, or
- Income Tax Notice of Assessment for the most recent 2 years, or
- Payslips covering the last three months
6What is the process for COE Renewal Loan?
Submit your details using the link below, and our team will contact you to guide you through the next steps.
7Is there a difference between 5 years and 10 years COE renewal?
Submit your details via the applicable page:
- 5 year renewal: Your car must be de-registered at the end of the five-year period.
- 10 year renewal: You remain eligible for subsequent COE renewals after the first 10-year period.
8What is the current PQP Price?
You can view the latest PQP rates, updated monthly, on our COE Price Trends page — or check the current rates on our homepage.