COE Renewal Price | Results for September 2019
We have made predictions for COE renewal prices for September 2019 that customers who called us could not believe.
Two who called us with Cat B cars due in October and another in January 2020 were doubting our predictions that Cat B PQP would actually reduce in price for September 2019, given the shrinking COE quota and the rising bid prices for the first bid of August 2019.
But look at these numbers for Cat B ten minutes before the COE bidding ends:
In the last 10 minutes changes to the price usually come fast and furious as the dealers enter into the market to snap up COEs for those who are guaranteed one bid customers or simply for cars they must deliver by this bid.
However, as we write this before the 4pm closing time for COE bidding, we feel that Cat A will not exceed the previous bid price of $32,725, that being a knee jerk reaction to drastic tightening in quota, and also as dealers call up customers to ask for bid top ups to get their cars, many are baulking at the amount of the bid top up they are expected to pay for in order to get their Cat A car.
And The Second COE Bid for August 2019 Has Closed!
What are we looking at?
Cat A $31,917
Cat B $38,602
Cat C $26,501
Cat E $40,002
Green all across the board, reduction in prices for every category, the run up at the last 10 minutes was muted, especially for Cat A! The last 10 minutes usually sees many bids being thrown in, but less than 100 bids were made – only 83 bids were made or only 7.8% of the total quota for Cat A, which is low for the last 10 minutes of bidding.
And Now COE Renewal Prices (PQP) for September 2019:
PQP Cat A Up $29,485
Up by a small margin only, considering the price bid increases in August which was took an exciting jump in the first bid of August by $6058. Such a small increase in fact, that those who have expiry in September 2019 or later, we would not recommend that they go for the earlier COE renewal loan in August, although they pay less in absolute terms.
Why? Because renewing early forfeits the remaining time left on the old COE. Call us for more details if you are looking to renew your Cat A car, we will advise specifically to your car if you provide us with some details.
PQP Cat B Down $37,941
By a significant $1,995! Woohoo for those with Cat B cars expiring in the month of September, if you have waited till now, you are now able to save $1,995 over the month of August. This is a third reduction in price in a row and a consecutive four digit fall in Cat B – last month fell by $2,949 – and making the renewal or Cat B vehicles quite attractive!
But sobs for those who have cars that expired in August, you do not have a choice but are only allowed to pay according to the August PQP, so says LTA. Yes you have one month after expiry to pay, but no you do not get to choose September because your car expiry date is in August! A lot of customers have the wrong idea they can wait for another month and just park their cars and wait!
If ever in doubt, please feel free to click the Whatsapp button here or use the contact form to reach out to us for your queries on COE renewal loans.
PQP Cat C Down $25,832
Cat C has fallen by $277, which is a sigh of relief for some, given that the latest two August bids are higher than the two bids in July 2019. So why is it down? Because the COE renewal PQP price is based on three months average of six bids, not just the latest month’s bids. Want to know more?
However, bad news on the horizon for Cat C vehicle owners looking to renew in October, the prices look like they are rising, but by how much? You’ll have to read our next prediction for October PQP prices, our report coming early September. Stay tuned here.
And What Is The Outlook for Coming Months of October and November 2019?
In the meantime, if you are already sure you want to or will be renewing your vehicle, we recommend that those with expiry dates in October or Novemeber 2019 call us up 92782880 (during office hours) and sign on with us for PQP monitoring before it’s too late!
We hope you are able to renew with September pricing, before October prices go higher! Upwards – this is the outlook for both Cat A and Cat C, with Cat A looking like a four-digit rise. But wait a minute, didn’t you just announce above that the prices for second bid of August are all lower than the first bid. Yes, we did. But we reiterate, the prices for both Cat A and Cat C are looking to rise.
Why register early? Because when we have your COE renewal loan documents in hand after your registration with us, we can quickly process to pay the lower month PQP price. Remember, when you pay an admin fee for your COE renewal loan processing, we work for you and go the extra mile, we would like to save you more than the fee you paid us if possible! If you pay an admin fee to others, you are not guaranteed the same opportunity to catch a good point to renew or our level of service!