ChiaFong

COE is all time low

In Car on 20 January, 2006 at 5:12 am

In Singapore, before you can own a car, you need to purchase a Certificate Of Entitlement (COE), and this piece of paper is not cheap 5 to 6 years ago.  This is partly due to the close bidding system at that time, meaning anyone who wants to own a car bid for a price without knowing what is the current highest bid.  So at that time, that paper cost about SGD 40,000 – 50,000.  Together with tax, owning a 1.5 litre Honda Civic will rip you off SGD 100,000 in total!  Back to modern day Singapore.  We are using an open bidding system now, anyone can find out what is the current highest bid and thus the price normally will not go outrageous.  The latest bidding exercise ends with just slightly over SGD 8,000 for one COE!

But I still like my Honda Fit!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: