COE Renewal Price | PQP Prediction for December 2019
Last month’s COE renewal price forecast was for a rise in all categories across the board from Cat A to Cat C, and by significant four-digit price increases in Cat A and B. And we were spot on for Cat C rise prediction to the exact dollar (we cannot help but boast – see our November prediction)! November had COE renewal prices rise across Cat A to Cat C, but coming to the month of December, are we going to see more of the same price rise or not?
To continue with the prediction, see below. Latest News: December 2019 COE renewal results are out, and how did our prediction compare to the actual?
Poor Economic Sentiment
We cannot help but highlight again the general poor economic sentiment at the current moment. There may be shining sectors and we do hear of those who are still doing well and getting good jobs, however, a significant (maybe just the more vocal) segment is pessimistic with many settling for jobs that do not pay as much as before.
This is highlighted by the fact that in spite of factors that are supposedly bullish for the price of COE, such as
1. The approaching Chinese New Year period where many like to buy cars and
2. The reduction in quota for COE in Cat A and Cat B
3. The just passed Cars@Expo car show in October this year, organised by Straits Times and SgCarmart jointly
Prices of these car COE have still weakened.
A Good Sign?
If there should be no positive factors that develop in the short term (most likely of which could be a further shrinkage or news of reduction of the COE quota) then prices may go further down, given that the factors mentioned above have had no impact on the COE prices at all and they have in fact weakened, especially Cat A which fell by a significant $2,309 or 7.1% while Cat B went lower by 4.3%.
So yes, it is good, if you are looking to purchase a new car.
Or to renew your COE in the months ahead, sometime next year. But in the immediate future, what are we looking at for the Prevailing Quota Payable (PQP) to renew your car COE in December of 2019?
A reminder again, that PQP is not COE bid price but an average of the past three months bids and that there is no half month PQP. And here below is our prediction:
Prediction for the 2019 December COE Renewal Price
PQP Cat A Down, $31,609
Down by $807, compared to the month of November 2019’s Cat A COE renewal price.
PQP Cat B Up, $39,363
Up by $234, compared to the month of November 2019’s Cat B COE renewal price.
PQP Cat C Down, $25,630
Down by $683, compared to the month of November 2019’s Cat C COE renewal price.
And what is your best chance for catching that COE renewal at a favorable price?
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There are loans with one day approvals, but then, they are usually not the cheapest. What makes a loan a good one, not just the interest rates. Sometimes the financial institution that provides the loan can give clues as to what kind of loan you are getting. More about the factors that may make the car loan more expensive for you.
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