Will Used Car Sales be affected by New Vehicular Emissions Scheme (VES)?

Getting a used car might be a better choice in 2018 due to the latest regulation in Singapore to reduce pollutions and making Singapore a cleaner country.

Last week, the National Environment Agency (NEA) announced a new scheme called Vehicular Emissions Scheme (VES). This scheme will replace the existing Carbon Emissions-Based Vehicle Scheme (CEVS) and will be implemented by 2018 till end 2019

Taxi companies will be the most affected, hence encouraging them to convert to environmentally-friendly cars.

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COE Results February 2017, 2nd Tender

February 2017, 2nd Tender

  CAT A   Cars up to 1600cc & 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$49,430
Up $1,029
$49,429 2,133 2,926
 
  CAT B   Cars above 1600cc or 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$50,621
Up $2,412
$50,347 1,377 2,126
 
  CAT C   Goods Vehicle & Bus
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$49,810
Up $909
$48,788 174 249
 
  CAT E   Open
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$51,000
Up $2,444
– 500 800
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COE Results February 2017, 1st Tender

February 2017, 1st Tender

  CAT A   Cars up to 1600cc & 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$48,401
Down $2,488
$50,394 2,060 2,691
 
  CAT B   Cars above 1600cc or 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$48,209
Down $4,598
$52,077 1,366 1,783
 
  CAT C   Goods Vehicle & Bus
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$48,901
Up $1,900
$48,503 164 268
 
  CAT E   Open
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$48,556
Down $4,044
– 488 805
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COE Results January 2017, 2nd Tender

January 2017, 2nd Tender

  CAT A   Cars up to 1600cc & 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$50,889
Up $788
$50,394 1,846 2,437
 
  CAT B   Cars above 1600cc or 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$52,807
Down $299
$52,077 1,246 1,967
 
  CAT C   Goods Vehicle & Bus
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$47,001
Up $699
$48,503 186 254
 
  CAT E   Open
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$52,600
Down $401
– 400 662
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Buying a used car in Singapore

Having your own car is certainly more convenience than hailing a taxi or booking a Grab / Uber especially if you’re in a hurry to business meetings, wanting to drive your kids to school or simply looking to enjoy the luxury of going places with ease on the weekends.

Why buy a used car?

buying-a-used-car-in-singapore-1

Buying a new car is extremely costly especially with the raising COE premiums. The hefty down payment of a new car could instead be used to spent in other areas, for example housing or your kids’ educations.

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COE Results January 2017, 1st Tender

January 2017, 1st Tender

  CAT A   Cars up to 1600cc & 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$50,101
Up $350
$50,645 1,877 2,260
 
  CAT B   Cars above 1600cc or 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$53,106
Up $1,997
$52,660 1,252 1,835
 
  CAT C   Goods Vehicle & Bus
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$46,302
Down $3,198
$48,668 183 271
 
  CAT E   Open
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$53,001
Up $2,612
– 401 648
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COE Results December 2016, 2nd Tender

December 2016, 2nd Tender

  CAT A   Cars up to 1600cc & 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$49,751
Up $1,751
$50,645 1,844 2,554
 
  CAT B   Cars above 1600cc or 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$51,109
Up $4,880
$52,660 1,244 2,052
 
  CAT C   Goods Vehicle & Bus
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$49,500
Down $1,709
$48,668 182 274
 
  CAT E   Open
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$50,389
Up $379
– 404 668
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COE Results December 2016, 1st Tender

December 2016, 1st Tender

  CAT A   Cars up to 1600cc & 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$48,000
Down $2,951
$51,271 1,844 2,335
 
  CAT B   Cars above 1600cc or 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$46,229
Down $6,772
$55,187 1,245 1,494
 
  CAT C   Goods Vehicle & Bus
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$51,209
Up $2,207
$48,498 185 262
 
  CAT E   Open
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$50,010
Down $4,891
– 413 643
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COE Results November 2016, 2nd Tender

November 2016, 2nd Tender

  CAT A   Cars up to 1600cc & 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$50,951
Down $1,717
$51,271 1,846 2,536
 
  CAT B   Cars above 1600cc or 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$53,001
Down $3,205
$55,187 1,254 1,708
 
  CAT C   Goods Vehicle & Bus
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$49,002
Up $1,001
$48,498 182 286
 
  CAT E   Open
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$54,901
Down $1,099
– 401 531
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COE Results November 2016, 1st Tender

November 2016, 1st Tender

  CAT A   Cars up to 1600cc & 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$52,668
Up $1,677
$51,641 1,929 2,800
 
  CAT B   Cars above 1600cc or 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$56,206
Down $204
$56,053 1,347 2,012
 
  CAT C   Goods Vehicle & Bus
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$48,001
Up $2,412
$48,381 185 283
 
  CAT E   Open
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$56,000
Down $340
– 401 641
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COE Results October 2016, 2nd Tender

October 2016, 2nd Tender

  CAT A   Cars up to 1600cc & 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$50,991
Down $516
$51,641 2,023 2,584
 
  CAT B   Cars above 1600cc or 130bhp
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$56,410
Up $3,409
$56,053 1,340 1,768
 
  CAT C   Goods Vehicle & Bus
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$45,589
Down $3,113
$48,381 188 252
 
  CAT E   Open
Quota Premium Change Prevailing Quota Premium Quota Bids Received
$56,340
Up $2,140
– 429 678
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COE quota down for the next 3 months

The Land Transport Authority announced that they will be issuing fewer Certificates of Entitlement (COEs) from November 2016 to January 2017. The total quota for next 3 months is 24,234.

Vehicle Category Average Monthly Quota
(Aug 2016 to Oct 2016)		 Average Monthly Quota
(Nov 2016 to Jan 2017)		 Percentage
Category A
(1,600CC   below)		 4,016 3,688 8.17% (-328)
Category B
(1,600CC   above)		 2,672 2,486 6.96% (-186)
Category E
(Open)		 857 799 6.77% (-58)

Slightly fewer COEs to be issued in the coming months will mean the COEs prices will rise by few percentage. If you are looking to own a car but have a tight budget, we suggest to buy a used car for now. Pricing for used cars will remain fairly stable despite fewer new COEs to be issued.

Check out www.usedcarloan.com.sg and find out how we can help you save money on your used car loan.

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