That is correct. You can also choose to renew for five years or ten. If you renew for five, the car must be scrapped at the end of five years. If ten, then can be renewed a second time.x9200 wrote:So if I understand this correctly you can terminate it at any time and get back your COE on prorated basis? Hmmm, pretty interesting option. Lots of COE cars looking really good. I guess a good car mechanic is a must before buying anything of this type.Strong Eagle wrote: Since COE is refundable on a straight line basis, I'll probably renew and runn the wheels off it.
So, a 1992 Civic has been renewed once in 2002, and can be renewed once again in 2012 and can be run until 2022 at which time it must be scrapped.
http://www.onemotoring.com.sg/publish/o ... bates.html