Any Auto Financing for COE Renewal?

[Dark]

I have a related question.

 

If you renew COE for 10 yrs and scrap in-between say 5 years later, do you get a rebate of the remaining COE value? I understand that PARF rebate is no longer eligible after COE renewal but I'm talking about remaining COE rebate here.

 

Anyone knows the answer? If answer is yes, there is no reason not to give out COE loan since it will be risk-free ie. owner default just take the car and scrap

[Dark]

actually you can convert back to black plate 1 day b4 COE renewal

so for example if your current COE expires on sunday, you have your new COE ready, on saturday you convert to black plate and pay the remaining 1 day

the cost is pro-rated 17k/10years - 1 day so it'll come up to only a few dollars

 

then register your new COE to your car as a black plate

 

You just found the biggest loophole of WEC/OPC scheme! Kudos!!!

[Keenblade]

You just found the biggest loophole of WEC/OPC scheme! Kudos!!!

 

Then next thing you know, LTA will reply "kindly wait as we process your request"

[QQDreamer]

where got so good such as this kind of loop hole? LTA is smarter than you think.

[Picanto]

You just found the biggest loophole of WEC/OPC scheme! Kudos!!!

 

the loophole is not easy to exploit

[Expertz]

Then next thing you know, LTA will reply "kindly wait as we process your request"

 

well nobody said you can't have a car without COE parked at the car park for a few weeks

you just cant drive the car

[Mllcg]

well nobody said you can't have a car without COE parked at the car park for a few weeks

you just cant drive the car

 

i think unregistered/expired car cannot park in HDB carpark...

[Proton]

anyone take loan to renew COE? how is the interest rate ?

[Mockngbrd]

anyone take loan to renew COE? how is the interest rate ?

i'm guessing 5%p/a

[Kakabobo]

which bank provide such service ?

 

[Humsuplo]

u guys are so smart~!....but then the govt is trying to squeeze ur necks u know...esp u guys....its called timing, but hope got resolution also, this business idea dunno have spin off or not or mas rulings can bend or not....surely the high coe they want to maintain...the maintenance in the $3m salary ...up per year they get, from where..haha..we all know le lar....not just geylang.... they want to look good and lick your money....my auntie got squeeze before and exited the foray(stop driving)...2nd hand dealer will say, trade in or change new car, sure legal.....that's why now inflated...stuck and sucked... well..i very suay also..i would say savers world... if u bought a car or second car before the 1.5-2 year ago, which nobody know, sales struggling...haha..now u got final laugh... and the dragon year squeeze....haha high tide baby.....more demand less supply...F-king too much....i bought $16 k coe, people say i siao...cos i know and tts abt it...suay suay again to my luck.... got any car tips , dun mind forumers, inform or share pls... i love the info...cos i need it one day too... i believe someone out there got the answer, maybe not u....just a guy..passing by. help~!!!!

 

 

lol no wonder u got banned...

 

in here u cannot disagree or say gov policy no good or pap squeeze ur necks.

 

worst thing u keep thinking of finding loopholes....

 

learn ur lesson and remember if u have cash u come here and brag abt it. u no cash either go somewherelse where they can accpet ur comments or else stfu or be like me.. be a tripod and agree with em.

 

most impt lesson u can't go against the rich cos they can kick ur ass

 

 

[SGCMsandman]

just asking.. if i renew my coe after 10 yrs is there any rebate or discount or will i have to pay the full amount ?? pls help

[MyDreamCars]

I am also considering buying over my frd's car which left about 2 years. But was also wondering if there is loan for COE renewal.

 

If yes, then I may even want to renew the COE later part as the car seems pretty good condition.

[drivinghazard]

I am also considering buying over my frd's car which left about 2 years. But was also wondering if there is loan for COE renewal.

 

If yes, then I may even want to renew the COE later part as the car seems pretty good condition.

 

COE so high not worth to renew COE. You will forfeit PARF and body value, and not forgetting 10% increase in road tax.

 

So if you renew COE, you are effectively paying:

1. Price of COE

2. PARF Vaule (+Body value)

3. 10% road tax up to 150% road tax

4. Increase in Insurance due to COE car

5. Higher cost of maintenance

6. Loss of warranty (as opposed to buying a new car)

 

So do your sum properly

[Picanto]

sometimes LTA is not as smart as we think. Look the the mess they created when they come up with the 130hp rule. premium makes are still in CAT A

where got so good such as this kind of loop hole? LTA is smarter than you think.

 

[QQDreamer]

sometimes LTA is not as smart as we think. Look the the mess they created when they come up with the 130hp rule. premium makes are still in CAT A

 

 

wah bro, my thread is back in 2012. now than u reply.

[MyDreamCars]

 

COE so high not worth to renew COE. You will forfeit PARF and body value, and not forgetting 10% increase in road tax.

 

So if you renew COE, you are effectively paying:

1. Price of COE

2. PARF Vaule (+Body value)

3. 10% road tax up to 150% road tax

4. Increase in Insurance due to COE car

5. Higher cost of maintenance

6. Loss of warranty (as opposed to buying a new car)

 

So do your sum properly

Very good point there, hmm.... So even if the COE drops to very low, judging from the road tax and insurance increases, it is still not worth to get a COE renew......

[LoneCatFish]

This may not work for many people, but it's certainly a workable idea. If you own private property that has appreciated in value, you can take equity loan using your property, draw the loan to either buy a car or pay the COE renewal with cash, and enjoy the lower interest rate of property loan.