Some good news for those who are car shopping, and also for those who have been planning to renew their COEs. Premiums have dropped across the board, due to lower demand in the market. However, we feel that the downtrend will not be for long.
For those who are keen to do a COE renewal, click here for an affordable repayment scheme for your COE loan.
Category A (cars 1,600cc and below, and have a maximum power of 130bhp),
Quota of 1,424 @ $26,999, down from $30,009,
Category B (cars above 1,600cc, and have a more than 130bhp),
Quota of 1,141 @ $35,906, down from $39,728,
Commercial Vehicle Category C,
Quota of 393 @ $25,501, down from $25,502,
Motorcycle Category D,
Quota of 925 @ $3,000, down from $3,090,
Open Category E (All but motorcycles),
Quota of 381 @ $39,400, down from $42,002,
Bids can be submitted through the Automated Teller Machines (ATMs) of DBS/POSB and the Internet Banking facilities of UOB or Maybank, do ensure that you have bank accounts with these participating banks.
The bid deposit for COEs in Categories A, B, C and E is $10,000 per bid while that for Category D is $200 per bid.