COE Price Release – Our Take On It
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For those who are still relatively unfamiliar with the concept of COE, let us run through the fundamentals. The certificate of entitlement, or better known as COE, is the quota license received after a successful open bidding system. Anyone who wishes to register a new vehicle in Singapore must first obtain a COE, which represents the right to vehicle ownership and use of limited road space for 10 years.
After the 10 year period, you may deregister your vehicle if you do not want to use the same car anymore. Otherwise, you may revalidate your COE for another 5 or 10 year period by paying Prevailing Quota Premium. Lastly, you can bid for another COE if you wish to buy another new car for yourself.
Every month, there are 2 COE open bidding. For the month of July, the prices are as follows:
| Category | Cars up to 1600CC or 97kW | Cars above 1600cc or 92kW | ||||
| 1st Bidding | 2nd Bidding | Difference | 1st Bidding | 2nd Bidding | Difference | |
| Quota Premium ($) | 28,589 | 26,667 | -1,922 | 34,000 | 39,406 | +5,406 |
Now, as with every price release, the question is: Should I continue with my old COE or get a new one? If you are considering between revalidating or bidding for another COE, it actually boils down to your personal budget and the state of your car.
Work out the budget you have set aside for car-related expenditures. After factoring in the COE prices, look at how much you have left and decide if it’s in your favour to continue extending your current COE or buy a new one. For example, given that your car is experiencing a lot of engine issues and you’re spending a hefty amount solely on servicing it, then it might be a better choice to deregister your car and buy a new car that costs much less.
As for Category A, the trend seems to indicate that bids are starting to hover and is looking to have a downwards trend. Who knows? Maybe it may be prime time to get your car at a low price. Here are some past trends that could be useful for you:
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