First Post-COVID19 COE Results - Prices Spike Across The Board
COE bidding has finally resumed, since it was halted in March after the second bidding exercise. Similarly, due to the “Circuit Breaker” measures put in-place, car sales initially came to a halt. Dealerships made up for this by allowing buyers who were still interested making a purchase to book their cars online. Virtual showrooms have been a norm during this unprecedented pandemic, with many dealerships offering even buyers attractive deals. While LTA has announced that there will be 30-percent more passenger car COEs distributed during the July-September period, to make up for COEs not distributed during the “Circuit Breaker”, results today show a spike in COE prices for all categories. For those who are keen to do a COE renewal, click here to apply, and enjoy an affordable repayment scheme for your COE loan.
Category A (cars 1,600cc and below, and have a maximum power of 130bhp),
Quota of 1,289 @ $33,250, up from $31,210,
Category B (cars above 1,600cc, or have more than 130bhp),
Quota of 1,291 @ $35,889, up from $30,012,
Commercial Vehicle Category C,
Quota of 489 @ $24,502, up from $22,002,
Motorcycle Category D,
Quota of 869 @ $7,702, up from $4,489,
Open Category E (All but motorcycles),
Quota of 31 @ $34,989, up from 32,500
Bids can be submitted through the Automated Teller Machines (ATMs) of DBS/POSB and the Internet Banking facilities of UOB or Maybank, 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.
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