COE stands for Certificate Of Entitlement
What entitlement?
It is that to buy and drive a car in Singapore.
Yes, you need a certificate to own and drive a car, besides having a driver's license, insurance and paying road taxes.
Each COE is valid for 10years. If you want continue the same car after 10 years, you need to renew your car's COE. Yes, the COE is tied to a car, not the person.
COE is a way for the government to control the number of vehicles in Singapore. Without it, our roads will be one gaint car park. We simply don't have space for roads to accommodate everyone driving a car.
So, to buy a car. You need to bid for a COE. Bidding happens every fortnight. A certain number of COEs are available for bidding each time. Obviously, demand is usually more than supply of certificates, so certificates are given to highest bidders. But the system is fair in that COE price is the lowest bid among the successful bidder. So, if everyone just bid $1, COE will be just a dollar! That rarely happens. The biddings are usually by car dealers. So they want to ensure they can secure a certificate in order to fulfill a sales order.
There had been times that COE costs more than $10,000. That's more than the price of the car itself for normal bread and butter cars!!!
What entitlement?
It is that to buy and drive a car in Singapore.
Yes, you need a certificate to own and drive a car, besides having a driver's license, insurance and paying road taxes.
Each COE is valid for 10years. If you want continue the same car after 10 years, you need to renew your car's COE. Yes, the COE is tied to a car, not the person.
COE is a way for the government to control the number of vehicles in Singapore. Without it, our roads will be one gaint car park. We simply don't have space for roads to accommodate everyone driving a car.
So, to buy a car. You need to bid for a COE. Bidding happens every fortnight. A certain number of COEs are available for bidding each time. Obviously, demand is usually more than supply of certificates, so certificates are given to highest bidders. But the system is fair in that COE price is the lowest bid among the successful bidder. So, if everyone just bid $1, COE will be just a dollar! That rarely happens. The biddings are usually by car dealers. So they want to ensure they can secure a certificate in order to fulfill a sales order.
There had been times that COE costs more than $10,000. That's more than the price of the car itself for normal bread and butter cars!!!
No comments:
Post a Comment