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If you are in Singapore, you might be already aware of the strict rules and the regulations that car owners have to abide. If you don’t get a certificate of entitlement, you will not be allowed to own a car. If you have already owned a car and if you have gotten the CEO which is close to expiring, you will have to make a choice on whether you are renewing the COE or if you are getting a new car.

Most car owners go for the choice of COE renewal because they want to keep using their car for more years to come and investing on a new car will certainly be expensive. Even though renewing the COE is the less expensive choice, it will also cost you. If you are not in a good financial status to renew the COE, you cent have to worry about losing you privileges to own a car because you can get a coe renewal loan. These are the reasons why you should definitely choose to get a loan for your COE.

To keep using your car privilege

Owning a car in Singapore takes a lot of work. If you don’t have your car, it will be hard for you to keep up with your day to day life. Therefore, when the time comes for to you to renew the COE, if you are not in a good financially status, you might lose your car privileges. You should not let this happen. Therefore, it is always important that you get a loan so that you can make it a lot easier on your finances.

You don’t have to pay at once

When you are getting your COE renewed, you will have to pay at once. However, when you choose to get a loan, you don’t have to pay at once. You can pay through installments. There are different plans that you can choose from to decide if you are comfortable in paying this amount or not. Getting a loan to settle the CEO bidding of the car that you’re getting will be much easier for you to handle your finances and the pressure that you will have to experience because of the payments that you have to make will also be low.

Check if you are eligible for a loan

You have to check if you are eligible to have a loan. You should start the procedure of renewing the car COE at least 6 months prior to the procedure because it will bring you to make a lot of choices. Having time will beneficial.

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