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What does "Prevailing Quota Premium" mean?
24 May 2023|14,215 views
In Singapore, all vehicles require a Certificate of Entitlement (COE). The price of the COE for a particular vehicle is termed the "Quota Premium" (QP). You may also have encountered the term "Prevailing Quota Premium" (PQP). What does this term mean, and how is it different from the QP?
The term PQP refers to the amount required to extend or renew the COE for a vehicle already in use. Unlike buying a new vehicle, one does not need to bid for COE when buying a used vehicle; instead, all you need to do is to pay the PQP and the COE will be extended or renewed.
The PQP is calculated based on the moving average of the QP in the last 3 months. For all vehicle categories, the COE may be renewed for a period of either five or 10 years.
COEs which have been renewed for a period of five years are not eligible for another renewal and will have to be de-registered after they expire. Otherwise, there is no limit to the number of times for renewal.
*This article was first published on Sgcarmart on 1 September 2007.
Here are a few other stories that may interest you!
COE renewal: What costs can you expect?
COE renewal: Five or 10 years? Here's six things you need to know
A simple guide to COE renewal: How & when should you renew
COE renewal: 10 things you wish you knew
In Singapore, all vehicles require a Certificate of Entitlement (COE). The price of the COE for a particular vehicle is termed the "Quota Premium" (QP). You may also have encountered the term "Prevailing Quota Premium" (PQP). What does this term mean, and how is it different from the QP?
The term PQP refers to the amount required to extend or renew the COE for a vehicle already in use. Unlike buying a new vehicle, one does not need to bid for COE when buying a used vehicle; instead, all you need to do is to pay the PQP and the COE will be extended or renewed.
The PQP is calculated based on the moving average of the QP in the last 3 months. For all vehicle categories, the COE may be renewed for a period of either five or 10 years.
COEs which have been renewed for a period of five years are not eligible for another renewal and will have to be de-registered after they expire. Otherwise, there is no limit to the number of times for renewal.
*This article was first published on Sgcarmart on 1 September 2007.
Here are a few other stories that may interest you!
COE renewal: What costs can you expect?
COE renewal: Five or 10 years? Here's six things you need to know
A simple guide to COE renewal: How & when should you renew
COE renewal: 10 things you wish you knew
Photos by Low Fai Ming, Unsplash
