5/10yr coe renewal

[fooz]

recently i saw quite a few bikes on 5yr Coe renewal.

 

1) why wld an owner renew only 5yrs, which will effectively worsen his depreciation since buyers are not so willing to buy a "dead" bike?

 

2) what is LTA's purpose of allowing 5yr renewal?

 

3) on the other hand,also have 10yr renewal, which u can subsequently continue to every 10yrs?

 

4) is there any way to convert the status of a "5yr renewal" to "10yr renewal" by topping up the difference?

 

jz some mindless qn which serves no purpose 'cept to satisfy my curiosity.

[LarryDK]

No, I did check before, its not possible to revoid that 5 years to become a 10 years.

 

I think the possible of LTA doing that is somehow force people to get a 10 years contract. Like a sales plan, one is cheaper than the other, but the cheaper one got a sever setback, in the end, most people will get the expensive one. But no one can complain that there is not a cheaper one, thats how sales work anyway.

 

Every 10 years renew is good if your bike is good and you maintain it well. Bikes that deserve this kind of renewal are most likely expensive and high end bikes like harley. Some bike got very high value even after 10 over years. Car also, some limited car editions will have values even after the 10 years run.

 

the one thing I am curious is after layout, if the coe die, consider the bike die also? this one i dun know.

 

Lastly, for most vehicles, if its under the 5 years coe contract, people will only buy because they need to have vehicles for the next 2 years and they will change le.

[panclanrider]

1) why wld an owner renew only 5yrs, which will effectively worsen his depreciation since buyers are not so willing to buy a "dead" bike?

 

The onli reason I can think of is because it's cheaper than the 10 yrs COE.

 

And also some bikes after 5 yrs COE still has got export value.

 

2) what is LTA's purpose of allowing 5yr renewal?

 

To ensure there is continuous number of bikes being taken off the road and scrapped....

 

4) is there any way to convert the status of a "5yr renewal" to "10yr renewal" by topping up the difference?

 

No. You can't. It's scrap yard after 5 yrs COE.

 

the one thing I am curious is after layout, if the coe die, consider the bike die also?

 

Yes, you are right. For example If your bike is left with 2 yrs COE and you decided to lay it off for 2 yrs, the COE is considered expired at the end of the 2 years.

 

Hope it helps..

 

:goodluck:

[kmax]

can we keep the bike after COE ends ?? just put at parking and pay season parking.

[panclanrider]

Not sure for a used bike after COE ends but I think you can still keep it so long it's not for "road use".

 

I'm sure a new bike can...

[nhyone]

There is much misconception around COE renewal. Many people thought it's not possible to renew the COE for the 2nd (after 20 years) or 3rd time (after 30 years).

 

Likewise, I suspect some people didn't know 5 year COE cannot be renewed.

 

A 10-year COE is more flexible cos if you decide to scrape at the 5th year, you also get back 5 years of unused COE -- you spend the same as a 5-year COE. The only difference is you need to pay double upfront.

[panclanrider]

Originally posted by nhyone@May 19, 2007 10:23 am

There is much misconception around COE renewal. Many people thought it's not possible to renew the COE for the 2nd (after 20 years) or 3rd time (after 30 years).

 

Likewise, I suspect some people didn't know 5 year COE cannot be renewed.

 

A 10-year COE is more flexible cos if you decide to scrape at the 5th year, you also get back 5 years of unused COE -- you spend the same as a 5-year COE. The only difference is you need to pay double upfront.

Maybe I'll try to make myself clearer...

 

For a new bike to be used on SGP road, U'll need to buy a COE which is usually a 10 yrs one...

 

After 5th yrs of using, u decide to scrape/export out of SGP, u'll get back 5 yrs of unused COE NOT in terms of cold hard cash rebate BUT on a paper where u can use it to register on a used bike whose COE is going to expire. And that used bike must go scrape/export after the 5 yrs expired because u can't renew anymore.

 

Likewise if the bike has a 10 yrs COE expiring soon and u decide to renew it for another 10 yrs, the renewal cycle is allow to go on even for the next few decades so long as it's always a 10 yrs renewal that u're doing.

 

[mikeang33]

can we keep the bike after COE ends ?? just put at parking and pay season parking.

 

can u apply to lay up the bike

 

mean not allow to use and no need to pay rd tax and ins

 

but when need to use back on the road then need all the stuff plus a inspection

[RageMyDream]

can u apply to lay up the bike

 

mean not allow to use and no need to pay rd tax and ins

 

but when need to use back on the road then need all the stuff plus a inspection

 

I think it's NOT possible otherwise how gahment going to earn your $

Anyway u have to check with LTA

[panclanrider]

I think it's NOT possible otherwise how gahment going to earn your $

Anyway u have to check with LTA

 

 

Guidelines:

 

(1) Make sure your applications are made before the road tax expires.

 

(2)The vehicle cannot be laid up for any period beyond the current COE expiry date if the COE renewal application is still pending cheque clearance.

 

(3)Lay-up will be granted for a period of one year at a time, up to a maximum of 3 successive years.

 

(4)You must also inform LTA of the place where your vehicle will be garaged during the entire period of lay-up.

 

(5)A vehicle which has been laid-up for 3 years in succession and has not been re-licensed will be automatically de-registered.

 

(6)If your car is less than 10 years old and has PARF, you may not want to do so as you will lose your PARF!

 

 

 

Checklist:

 

 

(1)The completed and signed Lay Up application form

 

(2)Road tax disc

 

(3)Original NRIC (Singaporeans / Malaysians) or passport (for foreigners other than Malaysians) of the registered owner and the person duly authorised by the registered owner. If the vehicle is company-registered, Original NRIC (Singaporeans / Malaysians) or passport (for foreigners other than Malaysians) of the company manager and the person duly authorised on the company's behalf

 

(4)Approval letter from owner/relevant authority permitting the vehicle to be garaged at their premises throughout the lay up period.

 

Note : An administrative fee of $5.25 (inclusive of GST) is payable.

[retromotoracer]

Maybe I'll try to make myself clearer...

 

For a new bike to be used on SGP road, U'll need to buy a COE which is usually a 10 yrs one...

 

After 5th yrs of using, u decide to scrape/export out of SGP, u'll get back 5 yrs of unused COE NOT in terms of cold hard cash rebate BUT on a paper where u can use it to register on a used bike whose COE is going to expire. And that used bike must go scrape/export after the 5 yrs expired because u can't renew anymore.

 

 

i have a bike which i renewed in 2006 so it expires on 2016. if i were to scrap the bike in 2007... i can transfer the balance 9 years to another BIKE... rite?

 

so after the 9 years, can the BIKE be renew for 10 years?

[Demon]

i have a bike which i renewed in 2006 so it expires on 2016. if i were to scrap the bike in 2007... i can transfer the balance 9 years to another BIKE... rite?

 

Nope, you can't do that. The Quota Premium (QP) when renewed stays and dies with that bike. However should it be scrapped prematurely, the rebate can be used to offset the QP for another bike.

[retromotoracer]

is this why we see advert in newspaper wanting to buy COE so that it can be offset another bike?

 

any example how its done? in terms of $$$.

 

say i have COE worth $1000 used it for 5 years, so technically i've used up $500 of the COE. if it were to offset another bike... will i get a total rebate of the balance $500?

[Demon]

is this why we see advert in newspaper wanting to buy COE so that it can be offset another bike?

 

any example how its done? in terms of $$$.

 

say i have COE worth $1000 used it for 5 years, so technically i've used up $500 of the COE. if it were to offset another bike... will i get a total rebate of the balance $500?

 

Yes. Rebate of COE is pro-rated on the unused period in days. The rebate is not in cash, but in a form of "credit note". You can use this "credit note" to offset dollar for dollar with LTA, otherwise sell it to a shop at a 20% discounted price. However, this practice is more prevailing for cars. I once had a $1200 rebate, no bike shop wanted to buy even at 30% discount.

[econbizer]

Can someone explain.. what is the benefit of laying up a bike?

 

Just to save on road tax?

What other benefits r there to it ah?

[redbeacon]

Can someone explain.. what is the benefit of laying up a bike?

 

Just to save on road tax?

What other benefits r there to it ah?

Here, these threads should help ya explain the purpose of laying up a bike:

 

http://www.singaporebikes.com/forums/showthread.php?t=109379&highlight=layup

 

http://www.singaporebikes.com/forums/showthread.php?t=104461&highlight=layup