We can feel the change in the tide. The levels have fallen for more than a year, and we are at the turning point where the COE renewal prices are headed upwards. If you are having a car come up for renewal and the expiry is in the month of April, the smarter thing to do may be to pay in the month of March and use the lower PQP price for renewal of your COE! You may like to click to check the price for March COE renewal before coming back here to see April’s predicted PQP cost.
Much like at the beach, the waves recede (prices falling for the past more than a year) but the next upward wave is starting, and we only wait to see how high it will go before it loses steam and recedes again, as all waves do.
We have spoken to many customers who come through our doors for COE renewals
And there are those who are so fortunate, like the customers with Cat A vehicles due in March (only $25,525 payable for 10 years renewal – a multi-year low), and those who were not so fortunate, like those who renewed just about two years ago at more than circa $45,000 levels. Is it luck or there is some science behind it?
If you try to, and have the patience like us, study the COE patterns for years, then you could probably save many thousands each time when it comes to buying and renewing. And then you also need some luck! So keep looking at our posts to keep updated, and those fingers crossed!
Here is our prediction for the month of April 2019!
PQP Cat A Up, $26,149
Up by $624 compared to Cat A PQP of the month of March 2019.
PQP Cat B Up, $35,061
Up by $2043 (ouch!) compared to Cat B PQP of the month of March 2019.
PQP Cat C Down, $26,756
$0 difference compared to Cat C PQP of the month of March 2019! (That’s the first time we have predicted a no change for PQP!)
The Month of May?
It looks like a sea of red for the month of May, and from what little we can see, Cat B especially bad, moving up by another 4-digit figure after April’s predicted $2k rise. Even Cat C joins in the rising wave for the first time in a long while!
So get ready for the bumpy ride, my advice for those with May expiry? Come find us soon for March PQP payment, yes, skip these two months of rising PQP – If you know us, we do not like to rush our customers into renewal, but the trend we can see is going to be higher cost if you wait for May – the rise in the price is more than worth of the two extra months of your old COE that you forfeit when you pay early in March. Call us at 92782880 to find out more.
Wish all you car owners with close to expiry vehicles the best of luck in the coming renewal months! Luck and some help from SG Cash N Cars, we help to make it hurt less!