.webp?h=8 "Merry Fistmas!")
Majulah Singapura! 
The Certificate of Entitlement (COE) is the quota licence for owning a vehicle in the city-state of Singapore. The licence is obtained from a successful winning bid in an open bid uniform price auction which grants the legal right of the holder to register, own and use a vehicle in Singapore for a period of 10 years. When demand is high, the cost of a COE can exceed the value of the car itself.[1]
https://en.wikipedia.org/wiki/Certificate_of_Entitlement
COE premiums for cars continue to break records, with Category A prices topping S$100,000
SINGAPORE: Certificate of Entitlement (COE) premiums closed mostly higher in the latest bidding exercise on Wednesday (Apr 19), with prices for cars in Category A and B breaking records for the third consecutive tender.
Premiums for Category A, which is for smaller cars, closed at S$103,721 (US$77,693), up by S$7,220 from the previous high of S$96,501 on Apr 5. This is a 7.5 per cent jump - the largest increase among the categories on Wednesday.
Premiums for larger and more powerful cars in Category B rose to S$120,889 from S$118,501 - a 2 per cent increase.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$124,501, exceeding its previous all-time high of S$118,990 by about 4.6 per cent.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$75,334 from S$76,801 in the previous bidding exercise.
Motorcycle premiums closed at S$12,179, up from S$12,001 in the last exercise.
A total of 2,181 bids were received, with a quota of 1,590 COEs available.
COE premiums for cars have been on the rise for several weeks.
Industry players told CNA earlier this month that a tax designed to target luxury car buyers has pushed up the price of owning a car for everyone in the mass market.
As more buyers now find luxury cars out of their budget, they have instead turned to smaller vehicles or second hand cars, said car dealers.
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Wait wait wait, you buy a car for $50k and then you have to pay $77k just to drive it???
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Neighbour that is fricked up.
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*for 10 years
Then you renew the license and pay again
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am I losing my shit here or does the Honda City Cost $61K SGD? (USD 46K) and then you have to pay COE or whatever over this?
compared to our Honda City ~₹2,000,000 (USD 25K) the top end model (including everything, road tax, first year insurance and other shit)
!bharatiya can you correct me if I am wrong? are singaporecels paying twice the amount for the car and above that they have to pay $USD 77K???? making it total ( approx 123K USD for a fricking honda city) it cant be real,
@kongbu make sense please
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officially it's to prevent having too many cars on the roads and shit but each time i'm stuck in a traffic jam i become confused too
it's just a
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Just imagine if CoE doesn't exist.
X (formerly chiobu) will be doing backflips with a motorbike just to get to work on time.
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so its true you pay USD 120K to drive a honda city for 10 years?
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If you buy a car today and pay for a new COE at today's prices, yes
like prices during covid were better in comparison but still bloody annoying to like shell out that extra money lol
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Reminder chudbu owns a car.
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Nah you are right, this is more than twice of our highest end honda city. Thats the cost of that bmw x1 here, and I consider that car a ripoff.
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IIRC there's a bit of rebate but it's not significant enough to justify buying a tesla or something. Also the infrastructure just isn't there yet IMO when I see here in Korea how EV charging stations are fricking everywhere even in random rural areas but I think that's probably easy to overcome if the government really wants to do it
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Infra issues strike again sad, and given how your governments been going i doubt they are too keen to encourage any type of car with building more infra for it regardless of petrol diesel or electricity
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I think if they really want to push hard for EVs it’s probably not too hard to do it but we literally have a manmade island for oil & gas nonsense so it might be tricky
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Our version of Honda City won't pass the safety test anywhere
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maybe but paying 1Crore to drive a honda city
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The 10 year renewal is the bigger pain, but i guess they are deliberately trying to deincentivise car ownership to decrease burden on traffic
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same thing in roachland, not a license registration cost but 100%+ car tax
trans lives matter but transit lives don't
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