COE
SINGAPORE: Certificate of Entitlement (COE) premiums for January's 1st bidding was released at the latest tender exercise on Wednesday (17 Jan).
Premiums for Cat A rose by $16,579 from $65,010 to $81,589 for smaller cars below 1600cc.
Cat B also increased significantly by $26,990 from $85,010 to $112,000.
The relentless climb in COE premiums is a concerning trend for potential car buyers in Singapore, as it contributes to the overall cost of vehicle ownership.
For all hopeful car buyers, we feel your pain.
With the unpredictable nature of COE prices in Singapore, navigating the market requires careful consideration and strategic planning.
Here are some practical strategies that Singaporeans can adopt:
Stay Informed and Be Patient
Regularly monitor COE trends. Exercise patience and avoid making impulsive decisions. Waiting for a more favorable market condition might lead to cost savings.
Explore Second-Hand Market
Investigate the second-hand car market for vehicles with existing COEs. This approach might offer a more stable and predictable cost compared to bidding for a new COE.
Consider Shared Mobility Solutions
Explore alternatives to car ownership, such as car-sharing services or public transportation. This may be a practical solution during periods of high COE prices and allows you to adjust your transportation strategy based on market conditions.
May COE prices continue to be in our favour.
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