Certificate of Entitlement (COE) premiums rose across all categories of vehicles in the latest bidding exercise. The biggest jump was seen in Category A, for cars up to 1,600cc and 130 brake horsepower. It is the second bidding exercise since changes were made to the classification of vehicles.
COE premiums for Category A surged by S$5,637, or nearly eight per cent, to end at S$77,201 despite several luxury models removed from the category and reclassified in Category B. Meanwhile, COE for larger, more powerful cars in Category B climbed S$3,304 or about four per cent to S$78,604. Premiums for commercial vehicles rose S$1,888 to S$52,890, while that of motorcycles ended higher at S$3,501, up S$450. The COE price for the Open category rose S$1,997 to S$79,000.
The COE prices does not seem to go down and in fact goes up tremendously especially in the Category A. Buying a new car seem very very far away for middle-income group unless you are born with a silver spoon. So the only option is either getting a resale car that still have a few years of COE lifespan or by renewing your current COE if you choose to continue to drive.
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