Low demand of new cars in early 2017
In the latest 2nd bidding in January, the premiums are showing signs that COE will remain stable for the coming months.
Premiums for Category A and C rose 1.5% to $50,889 and $47,001 respectively. As for Category B and E, both dip 0.56% and 0.76% respectively. Premiums for Category B ended at $52,807 while Category E ended at $52,600. Moreover, Singapore Motorshow 2017 which ended last weekend doesn’t seem to have any effect on the COE premiums, this may be due to slow economic growth and more people are actually looking to renew their COE for 5 or 10 years instead.
If you’re looking to purchase a new parallel imported car, check out Car & Stars for exciting deals.
PQP Trend from February 2016
What is it like for PQP in the coming months?
The recent low PQP result in recent months is mainly due to the low COE premiums in December 2016 (refer below chart highlighted in red). In the coming months, we believe PQP will continue to moderate or dip a little.
COE premiums trend
If you submit your COE loan applications early to Speed Credit, we can assist to monitor the PQP trend for you and renew at a lower price to help you save hundreds of dollars. Many of our customers submit their applications 3 months in advance to take advantage of any sudden dip in PQP prices.
Speed Credit offers 100% COE Renewal Loan at a very competitive interest rates. Send us an enquiry and we will prepare your COE Renewal instalment breakdown within 1 working day.