COE Renewal Price | PQP Prediction for October 2020
If you were a fan of the early superhero films, you might remember this famous line. “Is that a bird? Or a plane?” No, it’s…”
It’s our COE soaring, that’s what. (Incidentally, if you are interested in who that flying man in the picture is, read to the end to see answer at the bottom of this article).
Latest COE bid (first bid of September) has just come to a close, and this below are the latest results for COE.
COE Bidding Result 1st Bid September 2020
Cat A $37,766
Up by $2,056 (+5.76%) over the previous bid which itself was already $2,710 (+8.21%) up. The COE is now up $4,766 since the start or +14.44% compared to the price in first bid of August one month ago.
Cat B $41,510
Up by (+6.97%) or $2,708 above the last bid. This was also on the back of a rise of $1,700 the last bid. Two straight four-figure rises now.
Cat C $26,644
Up by $1,638 (+6.55%) compared to the previous bid in the end of August.
And also, repeating the trend of all the four wheeled categories this round of bidding, the Open Cat E also continued in its upward trend. Meaning the people in the biz are expecting this uptrend to continue, since this category is not bidded by individuals.
Cat B prices have risen faster than Cat A, but are not as far apart from Cat A as the $4k difference in first bid of August, which can indicate that there is still room for Cat B to rise more ahead of Cat A.
Also, interesting statistic, there has not been three rounds of consecutive price bid increases in COE that we now see with the latest bid since more than a year ago in February of 2019 where the bids rose by six bids in a row for both Cat A & B.
Are we going back to the same trend? Will we see more rising bids in the next round?
We are leaning toward the view that yes, that is going to be what’s happening. Tell us why you agree or disagree below.
We Are Afraid This Is A Up Trend
The signs are all there for a further rise in prices for COE, dwindling COE numbers, economic pick up post super strict restrictions, yes we are not there yet and not fully back to normal, but most things are working now compared to at the start of CB.
However, the number of job losses are climbing. And consensus seems to be that there is a chance retrenchments could get worse as we move forward. And some sources says it is so bad it’s 1 in 4 Singaporeans that have been laid off, though we think their data is skewed, as it comes from a job search portal which naturally more people without jobs would visit.
If the economic activity does not go back to almost normal, there could be further retrenchments as the stimulus package by the government runs its course and comes to an end. And for certain industries such as hospitality, travel and supporting activities, there seems no respite in sight yet.
This could tamper the rise in COE and or cause it to lose some ground. But it is our view is that a COE fall is unlikely, maybe just a breather, but not a sharp decline. A breather for consumers to get used to the latest COE price and car prices, before new buyers step into showrooms and car purchases continue.
Given the backdrop of three straight rises, the below is what we think October’s COE renewal is going to be like.
COE Renewal Price for October 2020 – Our Prediction
Cat A $34,949
Up by $1,809 (+5.46%) over the September 2020 PQP. The previous rise in price was a more acceptable $950.
Cat B $38,134
Up by $3,199 (+9.16%) over the September 2020 PQP. If we are correct, this is a second straight four-figure rises to PQP, with a total rise of $5,220.
Cat C $25,106
Up by $1,156 (+4.83%) compared to the current PQP for September. Cat C was actually lower in September by $152 compared to August.
COE Renewal Loan To Help PQP Payment
SG Cash N Cars has helped many to renew their COE, and if you have decided to renew, then give us a call at 92782880 (during office hours).
Even if you are unsure of whether to renew, or when to renew, give us a call. Because we are not just about processing your COE renewal loan and done with it! We help those whose cars are not yet expiring sign up with us to monitor the PQP, and figure out a good time to enter and pay!
Do You Wonder Why We Have Many Positive Reviews For COE Renewal?
Here are a couple of examples. These two customers Mr Richard and Mr Stephen, joined our PQP monitoring by registering with us early. Mr Stephen did it one year ahead of expiry! See his review below.
And they followed our advice to renew their cars in August 2020, when their expiry was October 2020 and another in February 2021. By October, they will have renewed their COE at $5,220 less than if they had done it in the month of October. And that is more than worth the months they forfeited renewing COE early!
Why do COE renewal blindly? We do PQP monitoring free for our registered customers!
So contact us, we are glad to be of help! You can also use the contact form at the side or bottom of the page to leave us your details for us to call you or click on WhatsApp to contact us.. Do it now, before, like some who called us late, you pay more to renew your COE than you should have!
Answer to the topmost picture: This is what the mystery picture at the top is. The remote controlled superman is soaring, so also our COE.