COE Prices and Latest Bidding Results
| COE Bidding Results on 17 April 2024 | ||||
|---|---|---|---|---|
| Category | CAT A | CAT B | CAT C | CAT E |
| Cars up to 1600cc and 130bhp | Cars above 1600cc or 130bhp | Goods Vehicle & Bus | Open | |
| Quota Premium | $94,010 | $102,001 | $68,502 | $103,249 |
| Change | $5,010 | $667 | $1,001 | $2,247 |
| Prevailing Quota Premium |
|
$98,062 (Apr) $99,116 (May) |
|
- |
| Quota | 936 | 690 | 195 | 155 |
| Total Bids Received | 1,390 | 1,008 | 332 | 269 |
Next COE bidding is on 6 May 2024 (Mon), 12pm.
Results will be out on 8 May 2024 (Wed), 4pm.
Quota Premium (QP) is the amount of the successful COE bid
Prevailing Quota Premium (PQP) is the 3-month computed average of COE prices and the amount to be paid required for COE renewal
Quota is the number of COE allotted
Total Bids Received is the number of bidders participating in the existing COE bidding cycle
What is COE?
The Certificate of Entitlement (COE) grants the owner the legal right to register and drive their vehicle in Singapore for a period of 10 years. Hinged on demand and supply, the cost of COE fluctuates and affects the price to own a car.
After 10 years, you have the option to renew the COE on your vehicle, and you will be entitled to a COE rebate on your COE renewal price. However, if you deregister your car before the 10-year mark, you are eligible for BOTH COE rebate and Preferential Additional Registration Fee (PARF) rebate — intended to recoup the initial Additional Registration Fee (ARF) paid during car registration. The amount of the rebate will vary on the type and age of your car, as well as the COE’s expiry date.
How does COE bidding work?
COE, or Certificate of Entitlement, is a necessary pre-requirement for anyone who wants to own and register a car in Singapore. COEs are valid for a period of 10 years and can be renewed at the end of this period. To obtain a COE, you must participate in a bidding exercise that is conducted twice a month. Here's how the COE bidding process works:
Frequency: Bidding takes place twice a month, and the dates for these exercises are predetermined.
Components: There are 5 categories of COEs that are available for bidding, and they are categorized based on the size of the engine, the type of vehicle, and the intended use. The categories are A, B, C, D, and E.
Process: Bidding takes place online
- Each bidder must submit a minimum bid amount that is higher than the prevailing COE price for the relevant category
- The bids are then ranked based on the amount
- Highest bidders are awarded the COEs
Enquiries, Submission, and Revision of bids: You can enquire, submit, and revise your bids through the One Motoring website or at any of the authorized banks. You will need to have a valid bank account and a Vehicle Registration Number (VRN) to participate in the bidding exercise.
Deregistration: If you wish to deregister your vehicle before the end of the 10-year COE period, you can do so by submitting an application to the Land Transport Authority (LTA). However, there may be financial consequences, such as the forfeiture of the unused portion of the COE.
COE Categories
COEs are classified into 5 categories, and they are categorized based on the size of the engine, the type of vehicle, and the intended use. The categories are as follows:
Category A - Cars with engine capacity up to 1600cc and taxis
Category B - Cars with engine capacity above 1600cc
Category C - Goods vehicles and buses
Category D - Motorcycles
Category E - Open category for any vehicle type, including those not covered by categories A to D
Each category has its own quota that is determined by the Land Transport Authority (LTA), and the bidding exercise is conducted separately for each category. The COE prices for each category may vary significantly, depending on the supply and demand for the different categories.