COE Renewal Price Cat A, B & C | December PQP 2021 Results & Prediction for January 2022
The COE renewal price has come out almost similar to what we have predicted. We are only $60 off in our prediction for Cat A and less than $900 away from actual Cat B prices.
(Edit: If you would like to see our earlier prediction for December PQP, click here. And also, our latest article on what we feel will be February 2022 moving ahead is here)
Given how volatile the Cat B has been, don’t you think you need to know better where the COE is going? We are glad to have been accurate for the sake of our customers, but it has not been good for those looking to renew their cars, as the direction is all up and working against you!
How about you get us to help you out with COE to avoid the pain?
Back to the updates, this is the latest COE bidding that closed.
COE Bidding Result 1st Bid of December 2021
Cat A $57,010
This latest bid is a price increase of $2,009 (+3.65%) compared to the last bid of November.
We had set a 5-year Cat A high back in the first bid of November when we reported on it.
And now we are at even higher levels than back in November as the bid before this was also and increase. Cat A has been higher for four consecutive bids now.
We had said “However, what seems to be coming is worse – this level of Cat A COE looks set to become the norm for a while. With good chance of going even higher.” and it looks like this is coming true.
What is pulling Cat A up is the mix of few factors such as:
1. Persistently high Cat B pricing, which forces many Cat B buyers to reconsider this question – “What if I just buy a Cat A car to do the same?”
2. The normalization effect, that is, when buyers have seen Cat A cars at this price for some time and just have come to accept that this will be the price.
3. And of course, the COE quota, which was reduced for all Categories, and for Cat A was reduced by a whopping 33.77% for the Nov 2021 to Jan 2022 period.
Cat B $80,401
Cat B has also increased this latest round, but by a more modest $800 (+1.01%) compared to Cat A.
The last bid of Cat B at the end of November actually went down by $3,200, so overall, this slight increase is not too bad.
The gap in prices between Cat A and Cat B now stands at $23,391 back down by some, where just recently at the end of October it had been as high as $29,092 higher than Cat A.
The slowing down of the rise in Cat B could be the diverting of purchases by those buyers who are more limited in their budgets to a Cat A car, where the COE is much lower.
And if this continues, then we expect the COE gap to be getting smaller moving ahead.
Cat C $45,000
The price is up $1,498 (+3.44%).
Cat C has been on the rise since the first bid of October and in total, Cat C increased by $4,499 (+14.86%) from then up till now.
It now seems like the extended period of low quota for Cat C has finally had the effect of pushing prices steadily north.
For those who aren’t aware yet, the current quota for the November to January period has a tiny quota of only 180 COE per month, or an average of 90 Cat C COE per bid. (See video news report and COE quantity table on this page for more info)
And the escape route used to be that dealers would use ETS to register new vans. But the available old vans for ETS may have shrunk to the point where the straw has broken the camel’s back, so buyers are forced to purchase COE by bidding from the quota.
This, and the fact that ETS can no longer be used for diesel commercial vans, means that any company needing to register one needs to bid for COE.
Also, not helping the situation is the chip supply shortage, resulting ins out of stock situations for some electric vans (for which ETS can be used).
So for those companies urgently needing new vans, they have to resort to diesel or petrol vans and bid for COE.
What To Look Out For In Next Upcoming Bids
We are back to the year end period, and this is the time companies tend to give our bonuses for the year. Most will at least receive a thirteenth month (including the government sector), and for some, more than that.
But the economy is not balanced, and it’s no longer news that those who are doing poorly can be in bad shape. However, some others are booming! Because of Covid-19, the virus has diverted a lot of sales to online purchases of goods and food, deliveries and other online entertainment services.
And anything where Singaporeans cannot go into Malaysia to purchase, is also enjoying brisker business than before, such as massage, petrol and groceries.
So it is not all economic doom and gloom.
For businesses that still survive, some are doing quite well. And some workers are getting record bonuses. Think Sheng Siong and the bonuses their staff are getting – 16 months was what we heard.
Plus, they are not the only ones. Uncommon businesses like our next door neighbours have since moved out to bigger premises due to the boom in online sales. What’s their biz? Custom mixed bottled cold pressed fruit juices mixed with unicorn powder (our inside joke), going at $18 per bottle.
Small Numbers Now Have A Big Effect
And just a small number of people who do well will be enough to buoy the COE prices, given that lesser people need to bid at the same price to maintain the COE prices, given the small number of COE now available due quota cuts.
Yes, cuts with an ‘s’, i.e.: not just one cut but a few in a row (see tables in here and here) to arrive at where we are now with a very low number of COE available for bidding.
So it is not surprising at all to find that the prices of Cat A, B and C have been rising for that reason alone – very few available COE.
Spillover Effect and Normalization Effect
The enthusiasm for Cat B (some blame Tesla car sales) has also started to overflowed into Cat A for reasons described above. Simply, more people who had aimed for Cat B now find Cat A more palatable due to the wide gap between the two Categories.
These are some Tesla figures to think about, you tell me if they did Cat B a big bump upwards in the recent months…
And as the general public gets used to seeing higher prices, they expect to pay these prices should they need a car, and this willingness to pay adds to the support for current levels of COE. This is what we like to call the Normalization Effect.
We do not foresee a sharply lower COE in the short term. The only way it will return to previously lower levels is gradual reduction of prices over time, possibly when COE quota is more generous once more – but we don’t see reason for bigger quotas happening for at least one plus year.
For Those Looking To Renew COE Soon
This is the COE renewal price for December 2021.
Results for COE Renewal Price December 2021
So with bidding of the past 3 months (Sep, Oct, Nov), this is the calculated COE renewal price for the month of December. If you do not know what makes up the PQP COE renewal price, click here.
Prices shown below are for 10-year COE renewal prices for December 2021.
Want to look at our prediction to see how close we predicted compared to the actual December renewal pricing below?
Cat A $50,570
Increased by $2,805 (+5.87%) over November 2021’s PQP price.
The COE renewal for Cat A started to move the last month and this month, it is a good 5+% upwards.
With the shortage of COE quota, year end bonuses (for some at least), the chance of the COE bid prices remaining where they are or higher is likely.
But how high will COE renewal price head for January? Will it increase by more than it has for December?
We can help answer this and guide you through your COE renewal loan to renew at the correct time.
Just click on WhatsApp to reach out to us and save thousands like those who have contacted us earlier.
Cat B $73,954
Up by a whopping $7,567 (+11.40%) compared to the renewal price of November 2021.
This is the largest increase we have in recent memory. In fact, I cannot remember a time when the COE PQP increased by more than this month on month.
And we are seeing more of the same for the coming new year!
If your COE renewal is coming up in January or later?
Then one of the best things you can do for yourself is to come register with us for PQP monitoring, a free included service with your COE renewal loan, and we will let you know where it is going – to make sure you have the info to make an informed decision that can save you thousands!
You won’t regret, we promise!
Contact us using the WhatsApp button or fill in the contact form now!
Cat C $40,650
Up by $484 (+1.20%) when compared with to the PQP of November 2021.
Compared to those in Cat A and B, this would be considered a mild increase by most, as were also the last two months of increases for Cat C renewals, and all the past three increases are less than $1k.
COE bidding prices for Cat C have been on the up and if you have vehicles in this category coming up for renewal in the coming month of December, would it be wiser to wait before renewal?
There is a way to calculate, and we can show you how. Just contact us with your needs for COE renewal and we will take care of the renewal loan as well as the question of when to renew it by, so as to maximise your advantage.
For Those Who Have Renewals Coming | COE Renewal Price Prediction for January 2022
This the info that you want to know!
Click the below image to find our our opinion on what next month’s COE renewal price will be for Cat A to Cat C.
By the way, this was the prediction we made earlier for COE renewal price for December 2021.
How close were we to actual PQP and were we useful for those customers who had signed up with us? (Key in the password in the title to access the info)
For January’s COE renewal prediction, WhatsApp us to have a chat and ask for the password and click the below image to go to the page for the info you are looking for. We will ask for your car info, to assist you with COE renewal loan and PQP monitoring.
What Is Smart To Do Now If I My Vehicle COE is Expiring Soon (Jan 2022 to Mar 2022)?
Given the situation that COE Renewal PQP prices are changing every month, you know that there is an opportunity to renew at lower price than your expiry month. That’s the wonderful thing about our PQP monitoring!
So, if you have decided to keep your current car, and renew its COE, the best thing to do is to get in touch with us as soon as possible – call 92782880 (during office hours), or click on the WhatsApp or fill the form on this page and we will get back to you.
COE Renewal With A Difference
We have helped hundreds and we will also help you also to secure an advantageous hire purchase car loan with the best terms and conditions avoiding the common pitfalls, and also to know when to renew if you register early with us for PQP monitoring as our customer.
That’s not all we help with – you also get to choose from all available banks and finance houses for your COE renewal loan, and we explain the benefits of each one to you if you’d like to know, before you pick the one that is most helpful in your situation. Sometimes a lower interest rate can cost more than a loan with higher interest!
We sincerely hope that you pay a lower COE renewal price and get a loan with good terms and conditions, and to that, all our past customers can attest!
Click to WhatsApp if you have any queries or call 92782880 (during office hours). Or simply use the contact form on this page and we will call you back to assist.