Finance Your COE
Renewal Today
Don't pay the full COE renewal cost upfront. Get up to 100% financing with competitive rates from our network of banks and financial institutions — we'll find the best loan for your renewal.
Why Finance Your COE Renewal?
With COE renewal costs exceeding $100K, most owners choose to finance their renewal. Here's what you get with Carminer.
No cash outlay needed. Finance the entire renewal cost through our lending partners.
We compare rates across multiple banks to get you the most competitive deal.
Spread your payments over up to 7 years for lower monthly instalments.
How It Works
From enquiry to loan approval — a straightforward process.
Submit Your Details
Fill in your car plate and renewal preference. We'll pull up your vehicle info and start comparing loan options.
Compare Loan Offers
Receive personalised loan quotes from multiple banks with the best rates, tenure options, and monthly repayment amounts.
Approve & We Handle the Rest
Pick the loan that suits you. We handle the loan application, LTA paperwork, and COE renewal submission.
COE Renewal Loan Rates
We work with multiple banks and financial institutions to get you the best rate.
| Lender | Interest Rate | Tenure |
|---|---|---|
 Hong Leong Finance | From 2.78% | Up to 7 Years |
 UOB | From 2.80% | Up to 7 Years |
 OCBC | From 2.80% | Up to 7 Years |
 Tokyo Century | From 2.80% | Up to 7 Years |
 Maybank | From 3.18% | Up to 7 Years |
| Others | Enquire | Up to 7 Years |
* Rates are indicative and subject to approval. Actual rates depend on credit profile, loan amount, and tenure. Contact us for the latest rates.
5-Year vs 10-Year Renewal Loan
Your renewal period affects your financing options. Here's a comparison.
| 5-Year Renewal | 10-Year Renewal | |
|---|---|---|
| Renewal Cost (PQP) | Half the renewal premium | Full renewal premium |
| Loan Amount | Up to 100% of renewal cost | Up to 100% of renewal cost |
| Max Loan Tenure | Up to 5 years | Up to 7 years |
| Monthly Instalment | Lower (smaller loan) | Flexible (spread over longer tenure) |
| Resale Value | No resale after expiry | Retains resale value |
| Best For | Lower monthly cost, short-term use | Long-term ownership, flexibility to sell |
Not sure which is right for you? Chat with us for a free comparison.
Renew or Buy New? The 2026 Math
Budget 2026 slashed PARF rebates from 50% to just 5% — scrapping your car now returns far less. Here's how the numbers stack up.
Renew COE with Loan
- ✓ ~$11,500/year total ownership cost
- ✓ Keep your current car — no adaptation needed
- ✓ Spread renewal cost into affordable monthly payments
- ✓ Avoid steep new car depreciation
- ✓ Pro-rated COE rebate if you sell later
Buy a New Car
- – $16,000+/year total ownership cost
- – Heavy upfront depreciation in first few years
- – PARF rebate on old car now capped at just 5%
- – COE premiums above $120K for Cat A/B
- – Higher insurance premiums for new vehicle
Frequently Asked Questions
Ready to explore your COE renewal loan options?
Get personalised loan quotes from multiple banks — free, no obligation, no hidden fees.
Get My Loan Options Now