June 2016, 2nd Tender

CAT A   Cars up to 1600cc & 130bhp Quota Premium Change Prevailing Quota Premium Quota Bids Received $55,200 $1,506 $49,519 2,252 3,957
CAT B   Cars above 1600cc or 130bhp Quota Premium Change Prevailing Quota Premium Quota Bids Received $57,010 $1,010 $51,630 1,463 2,914
CAT C   Goods Vehicle & Bus Quota Premium Change Prevailing Quota Premium Quota Bids Received $48,002 $1,568 $44,493 228 342
CAT E   Open Quota Premium Change Prevailing Quota Premium Quota Bids Received $57,390 $2,290 – 538 1,009

The Prevailing Quota Premium shown above is for the month of July 2016.

Prevailing Quota Premium (PQP) news for Cat A & Cat B.
Certificate of Entitlement (COE) premiums closed higher across the board for the second COE bidding exercise in June.

Prevailing Quota Premium (PQP) of COE renewal for Cat A (car up to 1,600cc and 97kw) and Cat B (car above 1,600ccand 97kw) continue to spike up due to the reason that Monetary Authority of Singapore (MAS) have eased the restrictions on motor vehicle loans. The new rulings have caused the last two June 2016 bidding to stay high which affects the 3 months average PQP to rise up significantly, click here to understand COE quota.

Many car owners have been rushing to renew COE for their current car which their COE is reaching 10 years. We have been experiencing large volume of cars renewing COE for the month of May 2016, as it is the lowest PQP so far for this year. We are expecting another round of rush for renew of COE for the month of June 2016 because it will be one of the lowest month for this year as of record. Moving forward after July 2016 onward we should expect PQP to stay above $50,000 for the rest of the year.

If you are still considering the COE renewal of your car, look no further as the 3 months average is very likely to continue to go up. You need to see COE prices drop below $47,000 for 2 consecutive months before the prevailing quota premium (PQP) will move lower than July 2016 PQP.

We provide a wide range of COE renewal loans. From COE renewal loans for passenger vehicles or rental vehicles (Uber and Grab) to commercial vehicles with “G” plates, “Y” plates and heavy vehicles. Special PQP Loan period that stretches to 7 years if you revalidate COE for 10 years and if the revalidation of COE is only 5 years the PQP loan can be extended for 4 years. Act now to revalidate your COE before it is too late. Click here for COE renewal loan enquiry and check out our COE loan rates here.