COE Renewal Price | Results for January 2020
News fresh off the oven, the COE bidding results for the last bid of 2019 has ended. The COE bidding prices for the second bid of December 2019 are:
Cat A $32,889
Down by $120
Cat B $36,000
Down by $1,900
Cat C $23,200
Down by $504
Open Cat $37,989
Down by $900.
The prices for all categories have slipped and the year end bidding is lackluster, probably so because many buyers are on holiday and delaying large purchasing decisions. Will the COE then pick up next in the first bid of January 2020 in time for car delivery by Chinese New Year?
(Latest COE Renewal PQP Prediction for February 2020 is now out! Click here)
Lower COE Renewal Prices for January?
Although the bid prices are lower across the board for all categories, the renewal prices are actually slightly up for Cat A and B for January 2020 PQP, yes believe me! And for Cat A cars, it makes sense to go for the renewal in the month of December 2019 if the car is expiring in early January 2020! (You can only do this in the month of Decemeber 2019).
So how did the bid affect the exact PQP prices for the first month of the new decade January of 2020? Not fantastic from the point of view of someone looking to renew, but it helped a little that the latest bid went down. That’s because COE PQP is a three month moving average, and the month of September that is no longer used for January 2020 PQP calculations were low compared to the latest bids.
Still, this is nothing to complain about, for if they had risen this second bid of December, it would be even higher for January of 2020 PQP, that is, PQP for January has risen but it is lower than it could have been had it not fallen in the latest bid of December 2019.
These are the COE renewal prices for January of 2020:
Cat A $32,368
Up by $392 compared to the month of December 2019 PQP.
Cat B $39,463
Higher by $150 compared to 2019 December PQP.
Cat C $24,884
This is the only category to fall for January 2020 and it is down by $692 compared to December 2019.
Right Time to Renew COE?
If your commercial vehicle expires by January 2020, the decision is quite clear already, with both months pricing stated above. Cat C is a no brainer, with renewal in January being cleary better than December – you get to use your old COE for longer, and to also pay a lower price in January.
However, for Cat A it is better to renew in December even if you forfeit all of the days in January to renew earlier in December. For Cat B, the decision is a little tricky if you want to work out which month to renew, you have to consider the actual expiry day of your car in January.
Unsure of how to do the calculations for Cat A and Cat B? Simple. Just WhatsApp us using the button or call 92782880 to ask for help with your COE renewal loan. We are happy to assist!
What If My Car Expires in February or Later of 2020?
Keep your eyes peeled here for our next prediction for February prices, which should be announced by 10th of January 2020.
We always ask customers to register with us for PQP monitoring so that they do not miss our on the chance to renew when it is low. When we have customers who call us up and say “Can I renew with the September 2019 price?” we always feel their loss.
Don’t worry if your expiry month is five our six months down the road, we do the PQP monitoring for you so you can relax while we seek out the best opportunity to renew, given the available visibility and info, as and when it happens.