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I renewed my car COE on 23rd Sep.2019 for next 5 years

My car COE will expire on 20 Oct. 2019, the engine size is under 1600CC, it belongs to category A, and I just renewed my car COE on 23rd Sep.2019 for next 5 years, the COE is valid for 10 years, I decided to renew for 5 years because it requires less cash and I am not sure if it is a good idea to renew a 10 years COE on the category A car. The car model is HYUNDAI AVANTE 1.6 and mileage is around 95,000 KM.

Refer to COE Open Bidding Exercise status and result, SEPTEMBER 2019 2nd Open Bidding Exercise ended on 18/09/2019 16:00 hrs, the latest COE bidding result of category A car is S$31,759, the PQP renew COE price is S$30,574, if you renew the COE for 5 years, the price is the half price of the COE.

The PQP price is the average COE price of the past three months, in my case, I have two options, option 1: renew the COE before the end of September, use the PQP price of September, it is S$29,485, but the unused period from the current COE will be forfeited, it is 20 days from 1st Oct to 20 Oct. 2019. Option 2: renew the COE from 1st Oct, use the PQP price of October, it is S$30,574, the valid date start from 21 Oct. These two options are similar, the option 1 is slightly cheaper even consider the forfeited 20 days COE, I decided to go for option 1.

Refer to 10 things you should know about renewing your COE, after renew the COE, the road tax will be increased 10% each year, maximum 50%, so this year I will pay more to renew the road tax, earlier price was S$369 for half year, now it is S$406 (S$369 *1.1 = S$406).

I have driven my car for 8 years, the experience was so far so good, I hope there is no problem at all for the next 5 years.

Refer to below screenshot, you will have two options when renew the COE, to use September PQP or October PQP, remember to increase the eNet payment limit to make online payment.

renew COE online payment

Reference

10 things you should know about renewing your COE
COE Open Bidding Exercise status and result
Prevailing Quota Premiums (PQP) – Renew COE price

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