If you are in Singapore and if you are planning to get a car and register it, you will have to go through bit of a challenge when you are getting it done. As a car owner, you will have to deal with a lot of taxes and also, to be using your car without any complications, you need to get a COE. The COE is a certificate of entitlement. Without this, you cannot use or register a car in Singapore.

This means that you before you get a car in Singapore, you have bid for the COE and also check the coe bidding results to make sure that you are eligible to get a vehicle. These are the most important things that you have to know:

For how long is a COE valid?

When you get the COE when you are registering car, the COE will be valid for 10 years. After this 10 years, you can make the choice of if you are investing on a new car or if you are renewing the existing COE. Renewing a COE is a much more affordable choice than when you have to invest on a new car. Also, if you want to keep on using your car for some more time renewing the COE is what you need do. When you are renewing the COE, you have the option of choosing 5 years and 10 years. If you choose 5 years, you only have to pay glad the price. However, after 5 years, you will have to send your car to scraps. Therefore, you should make a good choice on what you are doing and when you are living in Singapore, you should always have a good plan on what needs to be said and done in the long term.

How much do I have to pay?

When you are bidding for the COE, you will have to pay the administration fee which is around $12 depending on the bank and also the bidding cost. The bidding cost will vary with the category that your vehicle fall under. Therefore, do some research into which category that you vehicle falls under so that you get to know the price. If your vehicle falls under category D, you will have to pay $200 and if your vehicle falls under D, C, B or A, you will have to pay $10,000.

When is the right time to renew the COE?

If your COE is expiring, if you don’t want to buy a new car, you can get it renewed. It is recommended that you start working on the bidding at least 6 prior.

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