COE or the Certificate of Entitlement is the quota license received when there you have a winning bid in an open bid uniform price auction.  It grants the legal right of the holder to register, own and use a motor vehicle ( car or bike) in Singapore for only 10 years.  Usually the demand is high and its cost is therefore high, thus pushing the price of owning a vehicle in Singapore way higher than other countries.

In May 1990, Singapore’s Public Works Department’s transportation unit instituted a quota limit on the number vehicles in Singapore by issuing the Certificate of Entitlement which allows residents to have the ownership of vehicles.  The purpose of this move is to curb the amount of vehicles in Singapore City and ensure that there will not be overcrowded volume of cars in Singapore which causes bad air quality, and also a lot of traffic problems like accidents and Jams.  COE system is one of the key pillars in Singapore’s traffics management strategies to provide a sustainable urban quality of life.

COE Singapore System for car ( Cat A & B) and for the motorcycle ( Cat D) must be made in the name of the buyer and once it is obtained, the name of the bidder will be register on the COE.  COE is not transferable, however for goods vehicle, buses and CAT E the open Category, the name is transferable, but only within the first 3 months, while successful bids by companies and businesses, it is not transferable at all.

credits: todayonline.com

The latest price for COE can be found here:

https://www.onemotoring.com.sg/1m/coe/coeDetail.html

As can be seen, the price of COE is very high.  You probably will be able to purchase 3 cars in ASEAN region with just the COE.  The price of COE can be very volatile and unstable.  This is one of the problems with it.

KEEPING THE COE after TEN YEARS

• If you wish to keep your vehicle registered beyond its current COE expiry date, you will need to renew the COE by paying the applicable Prevailing Quota Premium(PQP) for your vehicle.  Vehicle will be de registered if you do not have a COE for it.

• The PQP is the moving average of the COE prices (QPs) in the last 3 months. The PQP varies from month to month. The rates for the PQP can also be found here: https://vrl.lta.gov.sg/lta/vrl/action/pubfunc?ID=EnquirePQPRates.  One motoring is a very good website for your motoring needs and information.
• Renewal of COE is applicable within the grace period of 1 month from the date of expiry.  If the COE renewal is make prior to the current COE expiry month, then the PQP payable shall be the rate applicable at the point of the renewal of the COE.  Upon the renewal, new COE will commence from the 1st of the following month from the PQP month and the balance of the current COE will be forfeited.
• Upon the COE renewal, any COE rebate arising from any lay-up period during the COE validity period will be forfeited.

Currently there are no big changes to COE as we noted from the last bidding.

http://www.straitstimes.com/singapore/no-big-changes-in-coe-prices

credits: motoristsg.com