COE Prices Surge

IT shows are seeing record attendance and sales, condominiums are being snapped up, car prices are rising, and COE prices are surging forward. Aren’t we supposed to be in the midst of a economic crisis? The latest round of COE prices is showing a clear upward trend in prices. The big car category for example, rose from $200 in January to top out now at $16801.

It’s the same in the small car category. It hit a low of $1020 in February (even lower if you consider the fluke $2 in November 2008), and now breaking the year-to-date record at $14310.

Basically the COE prices have returned to pre-crisis levels.

I bought a Honda Stream last year. It retailed for under $70K at one point, but today the same car (albeit a newer version, but still the same Honda Stream) goes for about $80K.

I think I’m quite happy to get my car at the time I did. I didn’t quite hit the lowest retail price, but I think the deal I got was quite good enough. No need to fret over the fact that my COE value is pretty low. If I keep this car for 10 years, it would be really good value. (Unfortunately, every time I think about owning the car for 10 years when I buy it, I end up changing cars long before the 10 years is up.)