So our predictions for August came back to be in the right direction – nothing to get excited about since we are getting the direction (rise or fall) right most of the time. But how close were we?
Here are the results for COE PQP for renewal for all categories for the month of August:
PQP Cat A Down, $29,328
Result is down by $1,184 compared to Cat A PQP of the month of July 2019. This is only $23 away from our prediction of the prices for August which we made earlier this month.
Cat A bidding was weak and we saw the prices at $1 even with just 29 minutes before closing, but rise to end at $26,667 in the end. This latest round bid for Cat A is lackluster and with number of bids outnumbering the actual quota by only 17%.
And this is significant as I remind again that this is the first decline in COE renewal prices for Cat A after four straight months of COE PQP increases from March till July. This change in direction could last longer and we do feel the next months bidding would result in further drops in the renewal price PQP for the month of September 2019. Stay tuned for our prediction if you are having a renewal month that comes after August or call us now for a chat on how to renew your car with a COE loan.
In the meantime, those who have expiry in the month of August, celebrate, as you have just saved yourselves $1,184.
PQP Cat B Down, $39,936
PQP result is down by $2,949 compared to Cat B PQP of the month of July 2019.
Our prediction of a fall of $3,967 was more than the actual fall, but Cat B owners coming up for renewal in the month of August 2019 save much more than Cat A owners and will probably still party like kids with candy! Our prediction in dollars saved was off on this one, but this is still a significant savings in COE renewal compared to July’s – and probably good enough for you not to blame us for not being accurate.
There was a strong rise in this Cat B for the latest bid, as the COE went up by $5,406 on the back of healthy number of bids at 47% more bid versus quota available – 1,677 to 1,143 available COEs.
PQP Cat C Down, $26,109
$1,650 down compared to Cat C PQP of the month of July 2019. We are off the prediction by $46 only.
The latest bidding for Cat C shows there is still demand for this Cat of COE, though we see prices decline by $400, we see that the number of quota available for Cat C is much less than the number of bids received – 657 versus 393 available COEs or 67% more bids than COE. Will we see a rise in the 1st bid of August for Cat C?
You Are Happy Prices Went Down, We Are Here to Help You
Help you how? Help you so you can get that finance so you can renew at these favourable prices for August!
You get a choice of financial institutions when you speak with us – whether you choose to use the banks, large finance institutions or in houses, we can help you with them all. Each of them have their advantages, so do speak to us to know which suits you best! It does not mean that lower interest means you pay less, usually the case, but sometimes, you pay more? Strange but true, and so it is a skill to compare loans! We have to write another article on that, but until then, we would be glad to explain when you ask us about your renewal loan.
Our’s is a worry free service, as so many customers have testified, with fully refundable admin fee if we do not secure you a loan. But till date, no customer has failed to get a loan after going through us! So instead of hunting whether in houses or banks, just call us at 92782880 during office hours or leave us a message and we will help you get the best package COE finance of your choice!