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Forum Cars Is COE car considered hire purchase ?

Forum Cars Is COE car considered hire purchase ?

Forum Cars Is COE car consid...

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  • #1707
    PL
    Peter Lin
    Participant

    Posts: 13

    Joined: Dec 10, 2014

    Expert

    Hi Yunaldo,

    You cannot take out a car loan for a renewed COE car. Therefore it will not be considered hire purchase. Hope this helps!

    • #1756
      Leo Russell
      Participant

      Posts: 1

      Joined: Dec 17, 2016

      Beginner

      Hi there,  sorry to hijack this thread. I saw there are many finance companies offering coe renewal loan.  If coe car cannot be considered as hire purchase than what is it consider? 

      I understand that there are also some companies  pay the coe  renewal on the owners behalf by first transferring the car to the company.  After they have renewed the coe,  they will resell the car back to the original owner and from there secured a loan.  Are this consider hire purchase loan? 

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