PQP remained low despite the rebound of COE premiums in July second tender

Cat A (Up to 1,600cc and 130bhp) Cat B (Above 1,600cc or 130bhp) Cat C (commercial Vehicle) Cat E (Open Category)
18th July Tender $32,699 $32,551 $30,889 $32,809
4th July Tender $25,000 $31,000 $31,092 $31,001

Certificate of Entitlement (COE) premium rebounded at the last round of bidding on 18 July 2018. Cat A premium increased by almost $8,000 from the last round of bidding to $32,699. As for Cat B and Cat E, premiums increased slightly from $31,000 to $32,551 and $31,001 to $32,809 respectively. COE premium for commercial vehicles dipped slightly from $31,092 to $30,889.

Despite the increase in COE premiums, Prevailing Quota Premium (PQP) for August dropped from $37,165 to $34,197 for Cat A, $36,888 to $34,991 for Cat B,and $32,200 to $31,163 for Cat C. PQP is on a downward trend and we are expecting Cat A and B PQP to drop further next month. As for Cat C commercial vehicles, we foresee it will remain more or less the same. Therefore, if your car’s COE is expiring in September or October, there is no hurry to rush to renew your it early.

Still unsure whether it is worth it to renew your car or to buy a new car? Drop us an email at info@speedcredit.com.sg to find out our attractive rates and loan packages. Alternatively, call us at 6444 4400 to find out more from our friendly consultant.