COE RENEWAL LOAN FAQ

• Do I still need to go down to LTA to renew my COE?

  • No, we provide free dispatch service and will assist to process all documentation for you.

• What is the interest rate? Repayment period?

  • Interest rate varies from time to time. Maximum 7 years repayment period.

• Is there any admin fee?

  • There is a one-time admin fee and it varies from the range of loan packages we offer.

• Any difference in PQP between OPC/ROPC and Normal car?

  • There is no difference in PQP between OPC/ROPC and Normal car.

• What is the maximum financing amount for COE renewal loan?

  • We provide 100% financing base on the PQP amount.

• What are the minimum requirements in order to get a loan?

  • $2,000 of monthly income, no trace of bankruptcy, age not exceeding 65 years old. Having said that, we can still consider and approve on a case by case basis.

• Is there any guarantor required?

  • Guarantor is required if Hirer (1) Age exceeded 65; (2) Annual income below $30,000; (3) Trace of bankruptcy

• What will my monthly instalment likely to be?

  • We'll assess and work out a quotation, and email it to you.

• What are the required documents for loan application?

  • 1) Application Form, 2) Copy of NRIC, 3) Latest 12 mths CPF Transaction History, 4) Vehicle Registration Detail. .