COE price for small cars fell S$726 to S$71,564.
The premium for big cars recorded the largest decrease, falling S$3,700 to S$75,300.
Open category COE price went down by S$1,807 to end at S$77,003.
The COE price for commercial vehicles rose S$1,001 to S$51,002.
COE price for motorcycles recorded an increase of S$347, ending at S$3,051.
The bidding exercise on Wednesday is the first since COE quotas were cut by almost 13 per cent compared to the last exercise in January.
From this month, cars with engine power output exceeding 97kW (130 brake horsepower) will also be classified under Category B.
The COE prices keep on floating at the S$70k benchmark for Category A and B motor vehicles. People from middle income group had the toughest hit from the COE prices especially those with kids who required to send their kids to school early in the morning. I am one of them, had been looking at the COE prices for the past few months as my COE was expiring on March 2015.
Buying a new car is very expensive especially with so high COE prices. Getting a resale car is an option but need to check properly on the condition of the car from the previous owner. Another option is to renew my COE for another 5 years. This option seem to be the cheapest among the 3. First, I do not need to pay for the car installment anymore after my 10 years car loan. Secondly, I still get to drive a car for the next 5 years. Lastly, I know my car condition more than anybody. :)
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