COE
SINGAPORE: Certificate of Entitlement (COE) premiums for February's 1st bidding was released at the latest tender exercise on Wednesday (7 Feb).
Premiums for Cat A fell by $2,589 from $81,589 to $79,000 for smaller cars below 1600cc.
Cat B also fell slightly by $9,662 from $112,000 to $102,338.
After the January 2024's lowered COE prices at its 1st bidding ($65,010 for Cat A, $85,010 for Cat B), prices shot up the following bidding by $10k to $20k.
The fluctuation in COE prices is definitely heart-wavering, as buyers anticipate lower COE prices every month.
For those who have passed their driving test and looking forward to hit the roads, COE prices may be a hurdle to cross.
There are alternatives like Gojek/Grab/Tribecar & more readily available, but for those looking for a personal ride, the next best option may be to look at the 2nd hand car market.
It's advisable to look at the annual depreciation cost and servicing cost.
For example, according to a Redditor, Japanese sedans have a lower servicing cost as their spare parts are easier and cheaper to obtain.
Other things you may want to look at includes fuel consumption, mileage and finding a trusted mechanic.
If done right, you can get significant savings over time.
Till then, wishing everyone a Happy Chinese Dragon New Year! Huat Ah!
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