COE Renewal Price Cat A, B & C | November PQP 2021 Results & Prediction for December
It is unsettling for those who are saving and aiming to purchase a car – they are probably finding that even as their funds are put aside each month for a new vehicle purchase, the goal of buying one is getting further out of reach with each passing COE bid.
The COE prices have shot up, through the roof, for Cat B.
Cat B has gone up $20k in the space of two months (four bids), surely one of the fastest increments of all time for COE.
And Cat A and Cat C have followed and also gone red, though the increases have been less dramatic.
Tomorrow is the closing of the 2nd bid of November 2021 but this is the result of the latest closed bid for COE as of 16th November 2021.
(Edit 23rd Dec 2021: For those searching for our latest December report with prediction on January 2022 COE renewal prices, click here)
COE Bidding Result 1st Bid of November 2021
Cat A $53,709
This is a price increase of $1,000 (+1.90%).
The price is at another high, and if you look back to find a COE Cat A higher than this, you have to go back as far as June 2016. This is a 5 year high for Cat A.
And the one high bid of June 2016 looked was the peak of that year, however, this recent rise in Cat A for 2021 looks like it will sustain at this level, with the low number of COE available at this time.
We wrote one month ago “we suspect the next bid is not going to be so kind to car buyers”, and it was exactly what we said it would be with a $5,708 increase the very next bid of October.
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.
Cat B $82,801
After the whopping increase of $10,010 in the first bid of November, prices for Cat B continues its rise this latest bid by another $2,591 (+3.23%).
This is the seventh time price has increased continuously for Cat B.
We had remarked earlier that “Cat B is now at a gaping $23,199 from Cat A”, but now it is at an even more remarkable $29,092 higher than Cat A.
And again, it seems that Cat B buyers have yet to reconsider and move their purchase from Cat B to a Cat A vehicle in the face of such a wide gap in prices. How wide can this gap between the two Categories grow, and how long will it stay this way?
This below is what many in the car industry blame as the culprit for this sharp COE price increase:
Cat C $42,001
The price is up $1,500 (+3.70%). In total, Cat C has moved 7.84% in two bids.
Despite the low number of COE available for Cat C it has continued the slide in prices.
Could the reduction in Cat C quota finally be showing its effects in the bidding prices?
For the August to October 2021 period there was a reduction in Cat C quota for the current quarter (-26.75%), with only 230 COE each month .
And the latest quota for the November to January period has an even smaller quota at only 180 COE per month, or a paltry 90 COE per bid. (See video news report and COE quantity table on this page for more info)
Even with reduced Cat C demand from an economy still finding its way around this Covid mess, with so few COE, it seems the prices would be heading up.
We Are To Expect More COE Price Rise?
Yes, we expect that to be so.
We are just at the first month of the new COE quota quarter where, again, all categories of COE we are concerned with (Cat A to C and E) have had a double digit percentage reduction in the quantity.
Where Is The Proof of That?
There is usually panic buying beforehand in the last bid of the quarter before, especially when such an announcement of COE reduction is made.
And we think that is why the COE for Cat B went sharply higher (+$10,010) in the last bid for October, before this tight quota of November started.
Looking ahead, however, after that very sharp rise in the late October bid, the first bid of November still continued to rise.
It would usually go down a little after such a sharp increase, but instead continues to rise. This would indicate that at the current COE quantity, for Cat B at least, there is still enough wealthy buyers to continue buying into Cat B to support or push up prices.
There is also further confidence from the people in motor trading that it will continue to rise even more, as the Cat B to Cat E price difference gap widens further.
And we foresee that at these levels with the abovementioned huge price difference between Cat A and Cat B, it is just a matter of time where the general (not extremely) well off, make a logical decision to choose a well built Cat A instead of a Cat B car.
This may not happen for aspirational cars, like sports cars, but for the daily runabouts for groceries and school bus duties, it will certainly suffice to have a Cat A instead.
Which would then lead to support of Cat A prices, with buyers coming from Cat B.
The chances of COE prices returning to those from four bids ago for Cat B seem slim, and any fall in Cat A is buffered because of the Cat B strength. Car buyers looking at purchasing a new car at those prices from two months ago, need to wait pretty long for it to return to those levels.
And For Those Looking To Renew COE Soon?
This is the COE renewal price for November 2021.
Results for COE Renewal Price November 2021
So with bidding that did not go where we really expected it, how goes the COE renewal price for November?
Prices shown below are for 10-year COE renewal prices for November 2021.
Want to look at our prediction to see if we got close to actual November renewal pricing below?
Cat A $47,765
Increased by $1,283 (+2.76%) over October 2021’s PQP price.
The PQP for Cat A is starting to move, where before it had been going sideways for a August to October 2021.
The price increase has started and November 2021’s is now up by a significant number. We are seeing chances of it headed even higher.
Where will it go for the December COE renewal price?
We can help answer this question, and any COE loan queries, if you contact us with your COE renewal loan requirement.
Cat B $66,387
Up by $5,801 (+9.57%) compared to the renewal price of October 2021.
Needless to say, the moving average which the PQP is, will tend towards the latest bid prices. And we are about $16k away from the current COE of Cat B.
Wait any longer and you will pay the higher price of December.
But if your COE renewal is coming up in December 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 $40,166
Up by $162 (+0.40%) when compared with to the PQP of October 2021.
If your COE expiry date December or later, would it go up again? The answer is a likely yes, as the COE for this category has been going up in the past two bids as highlighted above in our report of the latest COE prices.
If you have vehicles in this category coming up for renewal in the coming month of November, would it be wiser to renew it straightaway?
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 December 2021
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 our previous month’s COE renewal price prediction for November 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 December’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 (Dec 2021 to Jan 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.