Hi Abdul, thank you for your question! The COE for an off-peak car is the same as a regular car, but you get a rebate (up to ~S$17,000) on the purchase price. COEs are valid for 10 years; you cannot buy one for just 5 years initially, though you can choose a 5-year renewal after the first 10 years.

I’d like to clarify that the COE renewal price is called the Prevailing Quota Premium (PQP). This is calculated as the moving average of the COE prices from the past three months’ bidding exercises.

When a vehicle owner renews their COE, they do not need to participate in a bidding exercise. Instead, they simply pay the PQP for their vehicle category.

For further assistance, you can fill in your details at this link: https://www.motorist.sg/coe-renewal and one of our COE consultants will be happy to assist you.