|COE premium ($)||Changes since the last bid (%)||Changes since start of the year (%)|
The table above shows the COE bidding result for April 2018, 1st tender and the percentage change in COE premiums. COE premiums from this bidding round had dropped more than 10% as compared the premiums in January this year.
The above graph illustrates the downward trend of COE premiums from the start of this year.
With the drop in COE premiums, many people will be considering either to get a new/used car or to renew their car’s COE. Read on to find out what is our take on these 2 options.
Buying a new/used car
If you are deciding to get a new car, now is a good time since COE has been dipping and at a low price. A brand new car like Honda Fit now cost $69,888 with COE and a brand new SUV like Honda Vezel now cost $85,888 with COE. If you’re looking to purchase a new parallel imported car, do check out Car & Stars Facebook Page for exciting deals.
If you are looking to buy a used car, now is also a good time as used cars in the market have relatively low depreciation as a result of the drop in COE premiums. Whether you are looking to get a brand new car or a second hand car, it is advisable to start shopping now.
After you have decided on you dream ride, it is now time to look for financing options. Speed Credit provide new and used car loans with attractive interest rates starting from 1.68% p.a. Call us at 6444 4400 for a non-obligatory quote today.
If you are looking to renew your car’s COE, we recommend that you do not rush to renew. This is because PQP for the next few months is estimated to be stable if not biased towards the down trend. Hence, you may want to renew your COE on the month when your COE expire. Don’t worry if you are unsure of the COE renewal process as you can always seek advice from Speed Credit consultants. We highly recommend that you submit your enquiry months before your car COE expiry date so that we can help you monitor when is the best time to renew your COE. Click here to submit an enquiry or call us at 6444 4400 to enquire.