COE Renewal Price | Results for October 2019
So how did it go at this latest bidding? They are calling it mixed, and we had predicted a drifting lower, as there has been no changes in the quota, and no driving force behind COE demand, but that’s not what happened for Cat B and Cat E. Here are the latest COE results for the COE second bid of September 2019:
Cat A $31,759 – Down $24
Cat B $37,000 – Up $999
Cat C $25,556 – Up $54
Cat E $40,000 – Up $2,088
Cat A remains stable and a little lower only, I would not count this price change as any significant shift in prices or direction.
Cat B though has gone up by $999 to exactly $37,000. This seems to have followed the Cat E bidding as it went up by a significant $2,088 – which we read to be anticipation of a COE quota shrink that LTA may announce for Cat B in the quarter after this one. LTA’s announcement for this will be late October 2019.
Why does Cat B and Cat E seems to be joined at the waist when it comes to prices? They almost mirror each other when it comes to price movements, and that is because Cat E is able to be used to register any category of COE, but will usually be used to register the most expensive among the categories to maximize it’s worth. This happens to be Cat B most of the time.
And The COE Renewal Price for October 2019?
These are the results for if you are doing COE renewal. You may find that the COE renewal pricing for this month, a couple of categories are moving in a direction opposite of the latest bid price movement. This is because you are not paying COE bid prices, you are paying the average of the last 6 bids. These below is what you pay for renewal in October of 2019. For your reference, this is September 2019’s COE renewal price.
PQP Cat A Up $30,574
Yes, the COE bid did go down, but by a small $24 only, and on average for the last 6 bids, the prices for renewal have gone up by $1,089! Those of you who have cars expiring in October, right now it is the time to renew!
Why? Because you have the chance to pay the lower price and save $1,089, even if you give up one month of COE usage for October, it is still better, as one month’s COE is nowhere near worth $1,089! And November? It looks like going up further.
PQP Cat B Down $30,502
Another category where the COE renewal price is moving in the opposite direction of the bid prices. The bid price may have gone up by almost $1k, but the COE renewal price for Cat B is actually lower by $439.
With lower prices next month, we would recommend those who have October expiry to pay in October. But those with cars expiring later in November and December? The picture is a bit different if the bids for Cat B continue to be stronger than $36,000 level.
When the Open Cat is up by a significant amount, you have to read into the reason. What we suspect here is that dealers or distributors are, in anticipation of a quota decline in the following quarter from LTA, making the effort to secure the COE earlier.
PQP Cat C Up $25,842
Cat C is good news for owners of commercial vehicles as it is up only by $10. Not great news when the price goes down, but this little increase in the renewal price is not going to justify renewing earlier in September for $10 cheaper, you should wait for October if your expiry date is after September.
COE Renewal Is Easy?
Yes, it is, if you have the full amount of cash available, you can always make a trip down to LTA or make payment for renewal online anytime. We do get calls from curious public asking for us to renew for them, but that they do not want to take a loan. There is no need to engage us as LTA staff would be more than glad to help you out with this if you do not require a loan.
However, for COE renewal with financing or loan, the process become more complex and this is where we help with the A to Z starting with:
- PQP monitoring to advise you on a good time to renew the COE
- Consolidate loan application documents and do submissions
- Gather insurance quotes from five or more major insurers for your consideration
- Obtain approval, sign original loan documents and activate insurance
- Make payment to LTA via cashier’s order
- Pay road tax on your behalf (optional)
- Provide you with all receipts for payments (such as COE renewal payment receipt) made or show proof the payment
- Help with OPC to normal plate or other conversions you may wish to do
And ending with:
- Refund any over payment back to you, if any
All our customers who have renewed their COE have gone through the process and none have regretted their decision. We say that sincerely without boasting, just read some of what our customers say about us.
If you are looking for the best to help you through the process and save yourself some money with our exclusive PQP monitoring, then click on the green WhatsApp button to contact us or call 92782880 (during office hours).