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Forum Cars COE renewal for 5years

Forum Cars COE renewal for 5years

Forum Cars COE renewal for 5...

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  • #1695
    M
    MoneySmart.sg
    Keymaster

    Posts: 156

    Joined: Mar 19, 2014

    Expert

    Hi Tan SK

    This would depend on what the loan size is. For a COE renewal, you would be looking to take up a personal loan from a financial institution. What will be considered by these banks would be how much your salary is and therefore what the maximum loan amount you can qualify for will be.

    Most personal loans, will offer up to 4x your monthly salary so this could give you a good gauge on how much you can qualify for versus which COE cat you have in mind and its corresponding cost at this time.

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