Wednesday, August 26, 2009
Cheaper to Bid?
LTA has decided to temporarily lower the deposit required for bidding category A, B, C and E COEs from $10,000 to $5,000 from this October to September next year. The only exception is that the deposit for category D COEs for motorcycles remains at $200. The full news article is available at ST701.
While the change is welcomed by motor distributors and dealers, there is little impact to motorists since most do not bid for their own COEs. You can hardly find any dealer that offer package ex-COE. The competition among dealers may drive up COE quota premium since they need to secure the COE so as to execute the sales orders. Our local consumer watchdog should push for a more transparent sales process and pricing that allows savvy buyers to bid for their COEs.
Related posts: Bid for your own COE, Accredited Dealers