So you live in Singapore and you have your car, buy the COE is about to expire, and you don’t have the money to renew it. So what’s the best thing you can do? Get a COE loan in Singapore. It is the most effective method.
Where can you get it from?
There are tons of leasing companies that offer COE loans, as it is a pretty common thing in Singapore. You can choose from companies like Money Max Leasing Company, or Speed Credit Pte Ltd. And so on, there are plenty, so it is difficult to miss out on them. Banks will also lend you loans as well.
What would be the interest rates?
Just like any other loan you will have to pay back these loans, and that means you’ll have to payback with interest. The interest rates will be different depending on the company, and bank, and what category the vehicle is. Usually the rates will be at around 2% to 3% per annum.
Is it better to get a loan?
So you may be wondering, would it be a good idea to get a COE loan Singapore, or just buying a new car would be better. Well you would have to consider your costs, is it cheaper to get a loan, or buy a new car? Usually you’ll have to pay about $50000 and more, and the car value could be cheaper or higher depending on the model. So choose wisely.