COE Renewal Price | Results for November 2019
Not good news for those looking to renew COE! It’s on the move, upwards, just like we predicted in our monthly prediction article for Novemeber PQP.
And unlike the dip and sideways action from the month of July 2019 PQP till last month, we see that the December 2019 COE renewal would also likely be up. (By the way our prediction for December 2019 COE renewal price is out.)
Cat A already headed up last month when October PQP was confirmed and this month moves further up by a larger amount of $1,842 – and Cat B and Cat C follows suit, also increasing in price.
This has much to do with the COE quota shrinkage, and in fact the shrinkage was seemingly expected, with dealer and car distributors pushing the last two bids in October upward in anticipation of the shrink. The key to the coming November COE bid movement will depend on the question “was this shrinkage in quota more than or less than was market expectation was?”
The reduction in COE quota for the coming quarter of November 2019 to January 2020 is at:
-3.6% for Cat A
-2.9% for Cat B
+12.2% for Cat C
The surprise here is the increase in quota for Cat C, and with that we foresee cheaper commercial vehicles in the coming months.
2019 November COE Renewal Prices
PQP Cat A Up, $32,416
Up by $1,842, compared to the month of October 2019’s Cat A COE renewal price. Our prediction was only off by $82.
PQP Cat B Up, $39,129
Up by $1,627, compared to the month of October 2019’s Cat B COE renewal price. Our prediction was lower at $38,811 and we missed the mark by $318.
PQP Cat C Up, $26,312
Up by $470, compared to the month of October 2019’s Cat C COE renewal price. Our prediction was spot on! To the dollar!
When Should I Renew COE If My Expiry Is Two Months Later in December 2019?
This month, and using October 2019 PQP rates because November is significantly higher, worth about 5 months of your COE. That’s if you have a Cat A or Cat B vehicle.
Cat C would probably be wise to hold on and wait for the coming bids, which should lower the cost for renewal later on.
We are pretty blunt but that’s because we are pretty sure it is more upward movement again in the renewal month of December 2019. Why? Maybe you’d like to give us a call to ask about our COE renewal loans and why we are so sure. We have helped so many who registered early with us for their COE renewals that we are confident we can help you save too! Don’t just compare admin fees, know what we can do for you!
We can be reached at 92782880 during office hours, or just the contact form on your right or WhatsApp us anytime of the day!