Hi Jessi, A COE represents an up-front lump sum cost to vehicle owners. To ensure parity and fairness of the Vehicle Quota System (VQS), you must pay the full amount of the applicable Prevailing Quota Premium (PQP) if you wish to renew the COE of your existing vehicle. To allow existing owners to renew their COEs on an instalment basis will be unfair to new vehicle buyers who have to pay the full amount of a 10-year COE upfront