COE

Certificate of entitlement (COE) premiums have been on a falling trend since Uber exited Singapore’s market. With the absence of private-hire players bidding aggressively for COEs, premiums now reflect more accurately the real demand from car buyers.

COE prices continued to fall in the first round of bidding since VES has been implemented, with premiums ending at their lowest in as long as 8 years in the latest bidding result (4th July 2018). Category A (cars up to 1.600cc and 130bhp) premium fell the most by 24.5% to $25,000. While Category B (cars above 1,600cc or 130 bhp) dropped by 7.8% to $31,000. Premiums for Category E (any vehicle except motorcycles) dipped by 9.9% to $31,001. All the 3 premiums ended at their lowest since March 2010.

The fall might be the result of the new VES ruling which went into full effect on 1st July 2018. The new emission rule measures the level of tailpipe pollutants new car produces. It factors in particulate matter on top of carbon dioxide, carbon monoxide, hydrocarbons and nitrogen oxides. The amount of rebate/surcharge given is determined by the worst performing pollutant. Many petrol cars are now subjected to additional surcharge. This result in many people holding back on new car purchase, resulting in lesser competition in COE bidding, hence a fall in COE premium.

Take advantage of the low COE premiums (especially for CAT A cars) and get your dream car today. Speed credit provide one of the most competitive car loan packages with established banks and financial institutions in Singapore. We provide interest rates as low as 1.68% for used car loans and 2.48% for new car loans. We also provide insurance quote for new/used car.

Drop us an enquiry here or get a non-obligatory insurance quote here.

Alternatively, call our hotline at 6444 4400 to enquire.

COE have been on a downward trend since the start of this year. Premiums for Cat A and C dropped from $38,000 to $37,000 and $35,001 to $34,001 respectively. While premiums for Cat B and E increase slightly from $37,010 to $37,605 and $38,000 to $38,039 respectively.

If you are looking to get a used car, now is the time to take advantage of the low COE prices. You will most likely be able to grab a good deal to get cars at relatively low depreciation value per year. Start shopping for used cars available in the market now.

After you have decided to purchase a car, it is now time to look for car loan package. Speed credit provide one of the most competitive car loan package with established banks and financial institutions in Singapore. We provide interest rates as low as 1.68% for used car loans. Apply online or call our hotline at 6444 4400 to enquire.