COE Renewal vs New Car Calculator (2026)

It depends on PQP, your car's current condition, and how long you plan to keep driving. Quick rule: if PQP is currently below the new-car depreciation hit over the renewal term, renew. If PQP is at or above $110K Cat A and the car needs significant maintenance, buying new often wins on total cost. The break-even depends heavily on your maintenance cost assumptions for a 10+ year-old car — be honest about repair bills.

A 10-year renewal costs the full PQP (currently ~$110K Cat A); a 5-year renewal costs 50% of PQP (~$55K). After a 5-year renewal you can renew again at the prevailing PQP at that time, but you forfeit PARF rebate both times. The 10-year option is cheaper per year of life extended ($11K/yr vs $11K/yr — same), but ties you to the car for a decade. The 5-year gives flexibility if your needs change.

Yes. PARF rebate is paid ONLY if you deregister the car before it turns 10 years old. By renewing, you keep the car running past 10 years and forfeit the PARF rebate you would have received by scrapping. For a typical Cat A car this is $10K-$20K forfeit — real money you give up by choosing renewal.

Cars older than 10 years pay a road-tax surcharge: 10% in year 11, 20% in year 12, 30% in year 13, 40% in year 14, and 50% from year 15 onwards (capped). On a 1.6L sedan with $744 annual base road tax, that's an extra $74 in year 11 up to $372/year from year 15. Over a 10-year renewal, total road-tax surcharge can add $2,000-$3,000 to the renewal path cost.

Industry typical for a 10-15 year old car in Singapore is $3,000-$5,000 per year in maintenance and repairs. Higher for European brands. Lower for basic Japanese makes with simple drivetrains. Compared to $800-$1,500/year for a new car under warranty, that's a $2,000-$3,500/year delta — over a 10-year renewal that's $20K-$35K additional vs the new path. This is the single biggest sensitivity in the renew-vs-new math.

Yes. The COE renewal mechanism is the same regardless of powertrain. EVs older than 10 years can renew COE for 5 or 10 years at the prevailing PQP for their COE category. However, EV-specific considerations matter: battery degradation by year 10 can make a renewed EV less practical, and battery replacement (if needed) typically costs $15K-$30K — a major hidden cost not present for ICE renewals.

Limited options. Most banks do not offer dedicated "COE renewal loans" the way they offer new-car loans. The most common workaround is a personal loan (typically 4-8% p.a., 1-7 year tenure) covering the PQP amount. Some banks have specific car loan products for renewals — check current offers. Be aware that the MAS car-loan rules (max LTV 70%, max tenure 7 years) apply to renewal financing where available.