COE Renewal Price | PQP Prediction for November 2019
As it happens, this article was about to come to public view only a few days later, but we felt the need to rush it out for the benefit of all those who are having cars with COE renewal in the months from now till early 2020.
News announced two days ago from LTA and reported here by CNA tells of the quota reduction. Cat A sees a 3.6% reduction and Cat B sees a 2.9% reduction, however, Cat C sees a 12.2% increase in COE quota, where the monthly COE quantity increases from 1699 to 1907 pieces.
We have an uneasy feeling that prices are set to rise for PQP, and COE renewals will cost more, for sure, from November PQP. How about the two or three months thereafter? Read on to find out.
The picture looks like the car launched from a ramp. Vans, though, are not really going to fly, but will still see November COE renewal prices go upwards. And here is our…
Prediction for the 2019 November COE Renewal Price
PQP Cat A Up, $32,498
Up by $1,924, compared to the month of October 2019’s Cat A COE renewal price.
PQP Cat B Up, $38,811
Up by $1,309, compared to the month of October 2019’s Cat B COE renewal price.
PQP Cat C Up, $26,312
Up by $469, compared to the month of October 2019’s Cat C COE renewal price.
Why are there more COE for Cat C but COE renewal prices for next month higher?
COE for Cat C though increased, will only affect the bidding from the quarter starting November onward. Because we are often asked this by inquisitive customers, let’s recap, the November COE is calculated from the three months prior to it, so you never see the actual bidding of the November (or any month) affecting the renewal prices of that particular month.
Bidding only affects new car COE prices, not PQP for renewals, or rather they only affect PQP indirectly as an average.
This is also the reason why, once announced, the COE prices do not differ after the first bid of the month – there is no half month change in PQP prices.
How About Cat A and Cat B In The Coming Months After November?
This is where we felt the need to let customers know, we are recommending that those with expiry dates up to January 2020 renew their cars by October 2019.
How sure are we? Nothing is for sure when we are doing predictions, and I want to say, yes these are predictions, but we have been correct more often than not on the direction and there are a few factors we see that make it mathematically more likely that those Cat A and Cat B car owners will be paying several thousands more by January compared to now in October of 2019. Projections are looking like a $3,300 and a $3,600 overall increase by January for Cat A and Cat B respectively.
But if you have decided to take a loan for COE, and yet still want the opportunity to renew at the correct month, SG Cash N Cars is the only place to do this at – we are the only ones doing PQP monitoring. And we do this for all our customers who sign up in a month or more before the COE expiry date.
We have consistently saved on COE prices for our valued customers, call us at 92782880 during office hours or click on the WhatsApp button to find out more!