The Rise in The COE Bidding Helps To Increase The Demand For Used Cars
For registering a vehicle, you need to bid for the Certificateof Entitlement (COE) . It works according to the corresponding category. With successful bidding, you get the ownership right. The rights remain for ten years. The latest COE bidding took place in April 2021. Due to the COVID situation, the COE is progressively increasing. The second Certificate of Entitlement shows the increasing trend that is affecting the car market. Category Previous COE (1 st tender) Current COE (April) (2 nd tender) A - Car (1600cc & below) $ 45,600 $ 49,640 B – Car (above 1600cc) $ 52,309 $ 61,190 C - (Goods vehicle & Bus) $ 36,134 $ 44,001 E – open all except Motorcycle $ 52,200 $ 62,100 The surprising rise in the COE can help the car dealers and buyers to opt for the used vehicle. The new car is costlier than th