Five year or Ten Year COE Renewal for commercial vehicles – (PQP) loans
Easy to apply and quick approval with attractive interest rates for the commercial category! But apply earlier rather than later to avoid LTA charges and stoppage of vehicle use.
Dont Lose Your Competitive Edge
In Singapore, most Japanese vans and lorries / trucks are renewed when they come to ten years old so that the company owning them can benefit from the least amount of depreciation over the next five or ten years. If you don’t do this, the company is working with higher costs that it should!
A new vehicle will always cost more, and most companies do not mind that the logistics vehicles are of the older model so long as they are reliable, and most of the Japanese vans prove themselves over the first ten years to be economical to run and maintain.
And so, it is almost without exception that companies will choose to renew when the time comes, the only decision is for five or for ten years – for commercial vehicles, other than the condition of the vehicle, you should consider the price of the PQP to come to a decision. If it has fallen to a low level – in the past it had gone to $5000 level and lower before – this would be a good time to jump in a secure a 10 year renewal.
Nowadays, such a low level is not quite likely, so if you should feel that in five years time, the level is likely to be higher than now, then you should also consider taking on a ten year renewal, especially since financing is available. On the other hand then, if you feel it is high now, then choosing a five year renewal is the more prudent choice.
Apply here with us, just leave us your info (vehicle number, ACRA number and phone number to assist you more readily) and we will get back to you shortly.