Prevailing Quota
Premium (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.

PQP is the moving average of COE prices in the last 3 months. It varies monthly, depending on the COE prices of the bidding exercises in the last 3 months. You can find out the PQP for each month once the 2nd bidding exercise in the previous month is over.

COE (Certificate of Entitlement) represents a right to vehicle ownership and use of the limited road space for 10 years while PQP (Prevailing Quota Premium) refers to the amount required (moving average of COE prices in the last 3 months) to extend or renew the COE for a vehicle already in use.

When your COE expires, your vehicle is automatically deregistered and you cannot use it on the roads until you have renewed the COE. If you renew your COE after its expiry date, you must pay the PQP of the month your COE expires. You will also have to pay a late renewal fee. Please take note that if you do not renew your COE within 1 month of the expiry date, you will have to dispose of your vehicle immediately.

Should you wish to get a PQP Loan from Speed Credit, please click here to enquire (link to enquiry form) or to know more. Alternatively, you can fill up our COE Renewal Form.