What To Do With My 10 Year-Old Car? Your Smart Guide

What To Do With My 10 Year-Old Car? Your Smart Guide

April 4, 2016 Car 13 Comments

Sell, scrap or renew.  If you have an eight to 10 year-old car, you have choice. Good when the choice is simple, not so good when it involves both math and acronyms. We like to make complicated things simple, so here’s a quick guide to your options, and simple steps to help you navigate the process.

 

Option 1: De-Register Your Car

A vehicle owner is responsible for the de-registration and proper disposal of his de-registered vehicle.

The de-registered vehicle must either be scrapped at an LTA Appointed Scrapyard, temporarily stored at an LTA Appointed Export Processing Zone pending export, or exported out of Singapore. Proof of disposal of the de-registered vehicle must be submitted to the LTA.

Buying a new car?

Re-insure with DirectAsia – receive up to $150 Petrol Vouchers with comprehensive car insurance. Find out more here.

Option 2: Renew Your COE

If you want to continue using a car after 10 years, the car’s COE must be renewed. The cost will depend on the Prevailing Quota Premium (PQP). When the vehicle is de-registered, the COE rebate will be available at this time, giving rise to the name COE Car.

Renew your comprehensive car insurance with DirectAsia – receive up to $125 Petrol Vouchers. Find out more here.

 

More Insider Tips

Expert help to buy or sell your car. Plus we explain those key acronyms COE, PQP, OMV and PARF, saving hours of your precious time!

Save Time + Money, Now

Buying car insurance with DirectAsia is as easy as 1,2,3. Choose the plan you want, pay the way you want, you’re insured! Get a quote and find out how you can save up to 25% on your car insurance or call us at 6665 5555 now.

*Compared to leading car insurers. 16% of DirectAsia customers would save $300 or more compared to the estimated average premium across leading insurers. Cheapest based on average price of more than 12,000 cases, compared to leading car insurers.



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  • philip

    September 21, 2016at6:47 am - Reply

    I will be buying a new coe as my car is almost 10 years old. My car is Mitsubishi Lancer 1.6M, 1584cc engine. How much is the annual premium?

    1. DirectAsia Insurance

      October 3, 2016at4:23 pm - Reply

      Hi Philip, thank you for your interest in getting a quote from us. In order to assist you with the quote we would require more information from you, please give us a call on our Customer Service Hotline at 6532 2888 from 8am to 8pm, Monday to Friday, 8am to 5pm on Saturday. Thanks, Nina 🙂

  • Wee AB

    October 18, 2016at9:06 pm - Reply

    I have a Toyota Altis 1.6 (A) due for scrap in Jan 2017. Do appreciate it if you can provide rate. My Toyota Vellfire 2.4 Golden Eyes 2 was registered on Dec 6 2014, approaching 2 years. Clean driving so far and hardly used. Mileage is 10,000 km. What will be the premium for this car?. Thanks

    1. DirectAsia Insurance

      October 20, 2016at10:44 am - Reply

      Hi Aik Beng, thank you for your enquiry. In order to assist you with a quote, you can either email us at CustomerService@directasia.com with your vehicle details and contact information for us to get in touch with you or simply call our hotline at 6665 5555, Mon-Fridays 8am –8pm, Saturday 8am – 5pm. Thank you.

  • Felix

    October 19, 2016at7:43 am - Reply

    Same here, my car is almost 10 years old another few months to go. If need to extend / continue my Toyota Axio 1.5cc.

    1. DirectAsia Insurance

      October 20, 2016at10:43 am - Reply

      Hi Felix, thank you for your enquiry. In order to assist you with a quote, you can either email us at CustomerService@directasia.com with your vehicle details and contact information for us to get in touch with you or simply call our hotline at 6665 5555, Mon-Fridays 8am –8pm, Saturday 8am – 5pm. Thank you.

  • Chan Kwong Tuck

    October 19, 2016at4:34 pm - Reply

    I am a 67 years old Singapore Citizen with demerit free for 20 years or more. As I have an Altis thats 9 and half years old, please quote me with a comprehensive / 3rd party cover. I am a retiree now .
    Thank you
    NB I shall be extending my coe

    1. DirectAsia Insurance

      October 20, 2016at10:50 am - Reply

      Hi Raymond, thank you for your enquiry. In order to assist you with a quote, you can either email us at CustomerService@directasia.com with your vehicle details and contact information for us to get in touch with you or simply call our hotline at 6665 5555, Mon-Fridays 8am –8pm, Saturday 8am – 5pm.Thank you. Nina 🙂

  • Benny

    November 15, 2016at10:41 am - Reply

    Rather than keep asking to email to directasia.com, I reckon those in discussion want a indicative price.
    Can you not post a indicative price based on scenario for 1600 cc; 2000 cc and 2400 cc cars extending their COE with 50% NCB below age 60 yrs

    1. DirectAsia Insurance

      November 15, 2016at1:34 pm - Reply

      Hi Benny

      Our premium is based on many variables such as driver’s profiles, vehicle usage, make/model of the car and driver plan thus this allows you to customize your insurance based on your needs and declarations. Unfortunately, we will not be able to provide a premium based on the information provided. You may visit our website at http://www.DirectAsia.com at your convenient time to get an accurate quote. Alternatively you can also reach us via our hotline: 6532 2888, Mon-Friday 8am-8pm, Saturday 8am-5pm.

      Cheers-Nina

  • Lim Hock Chwee

    November 15, 2016at9:34 pm - Reply

    My car hit 10 years in Jan 2018. Still in good condition. If I am to renew my COE should I renew for another 5 years or 10 years, which is better option. How much will the renewal be.

    1. DirectAsia Insurance

      November 16, 2016at5:40 pm - Reply

      Hi Mr Lim, thank you for your enquiry. In order to assist you with a quote, you can either email us at CustomerService@directasia.com with your vehicle details and contact information for us to get in touch with you or simply call our hotline at 6532 2888, Mon-Fridays 8am –8pm, Saturday 8am – 5pm.Thank you. – Janice

  • James Chia

    November 16, 2016at10:19 am - Reply

    Just display this information instead of allowing posting of questions…

    “You may visit our website at http://www.DirectAsia.com at your convenient time to get an accurate quote. Alternatively you can also reach us via our hotline: 6532 2888, Mon-Friday 8am-8pm, Saturday 8am-5pm. “

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