Wednesday, January 23, 2013

COE premiums mostly down after latest bidding exercise

SINGAPORE: Certificate of Entitlement (COE) premiums were mostly down at the end of the latest bidding exercise at 4pm on Wednesday.

For small cars, the premium fell S$1,090 to S$91,010.

The premium for big cars closed down S$709 to S$95,501.

In the goods vehicles and buses category, the premium was down S$2,949 to end at S$57,051, while COE premiums for motorcycles ended at S$1,781, down S$152.

The only category where premiums rose was the open category, which went up S$1,788 to S$97,889.

While the changes are not significant, some car dealers are advising consumers against holding out on buying.

Mr Raymond Tang, a car dealer, said: "If you carry on waiting, because of the next quota premium, the COE is getting less, it is definitely not going to benefit you. But of course, you have to see your own financial status. If you don't want to spend so much, you can actually go to the used-car market."

Mr Tang expects premiums to continue heading north, going forward.

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