The impending reduction of quotas, and the recent spike in demand at car showrooms are contributors to the climb in COE prices. Category B takes the larger hit of the two car 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 836 @ $47,010, up from $45,001,
Category B (cars above 1,600cc, or have more than 130bhp),
Quota of 819 @ $59,501, up from $56,100,
Commercial Vehicle Category C,
Quota of 166 @ $39,523, up from $38,900,
Motorcycle Category D,
Quota of 655 @ $8,689, up from $8,502,
Open Category E (All but motorcycles),
Quota of 267 @ $60,001, up from $57,700,
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.