5 cars in Singapore to pick if you're thinking of COE renewal
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Want to keep car ownership costs low? Here are five car models that are perfect to be given a new lease of life with a COE renewal.

Category: Car Ownership Advice


Keeping an old car is not easy, and yes, there will be many cons to keeping an older vehicle on the road here in Singapore (which you can read about here). But, COE renewal on your car could still be a sensible option for those that want to keep their motoring costs to a minimum. We look at five tasty options which are good bets to keep running here in Singapore, after their first 10 years have run their course.

But first, how do you determine what's a good car for COE renewal?

Factors to consider when choosing a car for COE renewal:

1. PARF rebate

When you deregister a car in Singapore towards the end of its COE, you will be eligible for a PARF rebate of 50% of the ARF paid (the ARF is derived from the car's Open Market Value). When you choose to renew the COE, you will be forfeiting this sum of money, effectively adding to the depreciation of the car.

2. Engine capacity

The road tax of cars in Singapore is derived from the engine capacity. Additionally, cars that are over 10 years of age is subjected to an increasing surcharge of 10% per annum up till a maximum of 50% on the 15th year (effectively 150% of the car's original road tax amount). It will make little sense to renew the COE of a car with 6,000cc.

3. Parts availability

Parts availability can be a headache for older cars that have long stopped being produced, the problem gets worse with rare and uncommon cars. Hence renewing the COE of a common car with great parts support will make more sense here.

4. Desirability

Much like choosing what new car to buy, the car must be good. The lower cost of a COE-renewed car can also mean that you will be able to enjoy a car that was much more expensive or when new. Imagine being able to drive a luxurious European sedan with an annual depreciation that is less than $10,000!

Calculations are based on the following:

July Category A COE PQP: $46,896

Renew 5 Years Category A COE (50% of PQP): $23,448

July Category B COE PQP: $56,100

Renew 5 Years Category B COE (50% of PQP): $28,050

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Honda Jazz 1.3 A

An economical, yet zippy hatchback that boasts a good standing among first-time car owners
You won't go wrong opting for a COE renewal with one of these here. Since the first iteration, the Honda Jazz has been a favourite around this part of the world, this second-generation Jazz offers increased space as well as a smoother and quieter ride than before.

The Honda Jazz is also economical to run, being reliable, cheap to maintain, and it also comes with a low road tax thanks to its tiny 1.3-litre engine. Despite its small footprint, the Jazz packs in 384 litres of boot space with full passenger capacity, excellent for a hatchback of this size! The low PARF rebate and used pricing of the Jazz makes it a smart pick for COE renewal. It is also one of the winners in the 2010 SGCM Car of The Year awards.

Used price before COE renewal: $13,800 - $21,000
Used price with 5-year COE renewal: $37,248 - $44,448 (5-year COE) / $60,696 - $67,896 (10-year COE) 
Forfeited PARF rebate: $8,370 - $9,971
Annual depreciation after COE renewal (for new owners): $6,907 - $10,658
Annual depreciation after COE renewal (for existing owners): $5,527 - $6,684
Annual road tax: $590, with a 10% increase every year

Looking to secure your own Honda Jazz? Find one from amongst our listings here!


Toyota Corolla Altis 1.6A

The sheer number of generations that the Toyota Corolla has is enough to tell you about this car and its legendary status
Choosing for a COE renewal? This Toyota Corolla Altis also makes for an attractive option. With more than 37 million units sold internationally since its introduction in 1966. This economical sedan is well-known for its reliability, practicality, and comfort. Hence, it is often the preferred choice of car for first-time owners.

This Toyota Corolla Altis comes in two main variants, the 1.6-litre, and the 1.8-litre model. The latter variant is less popular among consumers due to its more expensive road tax and COE premium. Regardless, the Corolla Altis' low PARF rebate makes it a good pick for COE renewal. 

Used price before COE renewal: $20,800 - $23,500
Used price with 5-year COE renewal: $44,248 - $46,948
Used price with 10-year COE renewal: $67,696 - $70,396
Forfeited PARF rebate: $7,216 - $7,551
Annual depreciation after COE renewal (for new owners): $7,525 - $10,833
Annual depreciation after COE renewal (for existing owners): $5,412 - $6,200
Annual road tax: $742, with a 10% increase every year 

Want to buy a Toyota Altis? Check out our listings here!


Toyota Wish 1.8A 

Ditch that SUV mentality. With its practicality, the Toyota Wish has what it takes to be any family man’s car
When the Toyota Wish was first introduced in Singapore in 2006, it instantly succeeded and ousted its rivals - The Honda Stream and the Mazda5 (Even with both their combined sales). Its success is due to the modern design and practicality of it as an MPV.

Unlike the first generation of the Wish, the second generation introduced in 2009 has two main variants (1.8-litre and 2.0-litre), and marks itself as an appealing option for those that are thinking for COE renewal on a car, thanks to the high practicality it offers.

Are you worried about it being an underpowered MPV? Fret not. Coupled with Toyota's seven-speed (A) CVT transmission, the Wish has an ample power output of 141bhp with 173Nm of torque, and 158bhp with 196Nm of torque for both variants, respectively. Unfortunately, the Toyota Wish has been discontinued and replaced by the Toyota Prius+ hybrid. Well, that is a sign for both existing and prospective owners to opt for a COE renewal for their Toyota Wish.

Used price before COE renewal: $13,200 - $22,800 
Used price with 5-year COE renewal: $41,250 - $50,850
Used price with 10-year COE renewal: from $69,300 - $78,900
Forfeited PARF rebate: $10,752 - $11,122
Annual depreciation after COE renewal (for new owners): $7,102 - $11,400
Annual depreciation after COE renewal (for existing owners): $5,765 - $6,914
Annual road tax: $976, with a 10% increase every year

Want to buy a Toyota Wish? Check out our listings here!


Volkswagen Golf 1.4 TSI

The Volkswagen Golf's dual-clutch gearbox and turbocharged engine makes it an affordable, yet performance-driven hatchback
If you're looking to save by opting for COE renewal on a car, this Volkswagen Golf could be just what you need. The Golf is an ideal hatchback for younger consumers seeking a stylish, practical, fuel-economical, yet efficient vehicle, making it an excellent choice for COE renewal. This generation of the iconic hatchback previously bagged the premium award for SGCM Car of the Year 2010 (Hatchback category).

Unlike its sporty counterpart - The Volkswagen Scirocco, this iconic five-door hatchback comes with a turbocharged engine instead of a twin-charged engine. Its ability to produce a power output of 120bhp and 200Nm of torque mated to a seven-speed DSG gearbox allows for an effortless acceleration whenever required. Despite its powerful output, it comes with an affordable road tax due to its 1.4-litre TSI engine.

Used price before COE renewal: $20,800 - $27,900
Used price with 5-year COE renewal: $44,248 - $51,348
Used price with 10-year COE renewal: $67,696 - $74,796
Forfeited PARF rebate: $11,160 - $13,877
Annual depreciation after COE renewal (for new owners): $7,886 - $13,045
Annual depreciation after COE renewal (for existing owners): $5,806 - $7,465
Annual road tax: $620, with a 10% increase every year 

Want to buy a Volkswagen Golf? Check out the listings here!


Kia Cerato Forte 1.6A/1.6M

Want to have the impression of driving a continental car, without breaking the bank? This is the car for you
And if you're after something a little more sporty still for a COE renewal, this could be a safe option.

The Kia Cerato Forte paved the way for the Korean mid-sized sedan segment. It is unlike most Asian cars out on the market. It is well-known to be a pseudo continental car as it bears a resemblance to continental cars of the same period.

The Kia Cerato Forte has two main variants. The 1.6-litre variant is offered either in the baseline EX trim or the premium SX trim, while the 2.0-litre variant comes with the SX trim. Both variants are available in automatic and manual transmission.

For a mid-sized sedan, it comes with a generous boot space of 415 litres, which is only 10 litres shy of the Toyota Camry, a luxury sedan. Furthermore, the Cerato Forte is one of the more performance-inclined sedans out there in the market. The 1.6-litre six-speed transmission can push out 124bhp and 156Nm of torque, while the 2.0-litre six-speed transmission pushes out 156bhp and 194Nm of torque. All this ensures that you've still plenty of power to keep up with traffic, even after the COE renewal on these cars.

However, if you feel the aesthetics of the Cerato Forte is still not sporty enough for you, the Kia Cerato Forte Koup is the answer to your woes. With similar performance capability, the Koup is the sporty alternative to the forementioned Cerato Forte. It comes only in the SX trim and features a sporty two-door design.

Used price before COE renewal: $12,500 - $16,800 
Used price with 5-year COE renewal: $35,948 - $40,248
Used price with 10-year COE renewal: $59,396 - $63,696
Forfeited PARF rebate: $4,585 - $5,407
Annual depreciation after COE renewal (for new owners): $6,399 - $9,131
Annual depreciation after COE renewal (for existing owners): $5,149 - $5,771
Annual road tax: $738, with a 10% increase every year

Want to buy a used Kia Cerato? Find one from our own listings!


*All prices are accurate at the time of writing. Used prices are based on SGCM used car listings.

*This article was updated on 27 September 2022

Here are some related articles that might interest you

COE renewal: What costs can you expect

Renewing your COE? Here are the five key things you should take note of 

6 thing to note before you renew your COE for five or 10 years

A simple guide to COE renewal: How & when should you renew

Should I renew my car COE in 2020?

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