Whenever the time comes to renew your certificate of entitlement (COE) or whenever you think of acquiring a new vehicle, you must check and be updated about the latest news of COE bidding results. Why so, because it helps you to give a clear view on whether you are financially sufficient to renew the COE or purchase a new vehicle.
What is a Certificate of Entitlement (COE)?
It is a documentary procedure for registering the entitlement of a vehicle under your name for a period of 10 years. In simple words, with a Certificate of Entitlement, you are given the ownership of a motor vehicle for a period of 10 years. After the period ends, you have the option to either renew the certificate or to de register the ownership of the vehicle.
What are the latest COE bidding results?
The system in which COE works is an open bidding system where owners bid an amount during the bidding time for a COE. Currently, the latest COE bidding results are:
- For Category A Cars up to 1600cc and 130bhp, the quota premium has changed from $36,704 to $27,886.
- For Category B carsabove 1600cc and 130bhp, the quota premium has changed from $48,010 to $39,563.
- For Category C vehicles like goods vehicles and busses, the quota premium has changed from $28,559 to $227,819.
There are several reliableleasing companies and loan providers who serve people by providing funds to acquire a vehicle in Singapore.