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My car is a decade old. Should I buy a new one or renew my COE?
All things equal, renewing the COE of a 10-year-old car will be considerably cheaper than buying a new one. However, a car that age will need more attention than a new ride. An option is to renew your COE for five years to minimise the money you need to shell out. But take note that should you do that, you’ll need to scrap the car after five years, unlike a full 10-year COE, which can be renewed time and again.