COE renewal question

[Ronleo]

My car only reaches full 10 year on Dec 2019.

 

I am renewing the PQP early in April 2019. Understand that my previous old COE will be forfeited and gone.

 

But for the PARF value at this moment, can I still take back, in the unlikely worst case scenario that I decide to send to scrapyard in November 2019? Technically, it has not reached the 10th year mark. Thks.

Yes, u can.

 

Confirm!

i believe you can't. the moment you renew the COE of your car, the PARF value will be forfeited.

Only the old COE value is forfeited as long as Car is not 10 years yet.

[Pool100]

If your coe expiry is after April, it does not matter which day of April u pay, your coe will end 10years later on last day of 30 April 2029. However if your coe is due any day of.April, pay before the expiry and date will continue.

 

Thanks. My original COE expiry is Feb 2010.

 

So just to confirm, if I renew the COE today (21 April), the new COE expiry will follow the month end which is 30 April and hence the new expiry date is 30 April 2029.

[Albeniz]

Thanks. My original COE expiry is Feb 2010.

 

So just to confirm, if I renew the COE today (21 April), the new COE expiry will follow the month end which is 30 April and hence the new expiry date is 30 April 2029.

You are asking the right person.

 

I just renewed today. There are 2 options -either April or May PQP.

 

I chose the cheaper April PQP at $35,411.

The expiry of this April PQP is 30 April 2029.

[Seya]

Theoritically, you can get your car PARF back after renew COE, but need to deregister the car before the car reaches 10 years. and get the unused portion of renewed COE.

[Ct3833]

I give up after looking at the COE trend, just went to renew the COE of both cars. One in July and the other one Dec.

Hope the COE will stay low so as to benefit all. I am not selfish.

Edited April 23, 2019 by Ct3833

[Dafansu]

I give up after looking at the COE trend, just went to renew the COE of both cars. One in July and the other one Dec.

Hope the COE will stay low so as to benefit all. I am not selfish.

 

Dec still got chance, July no hope will be higher due to entry of PH again and lower quotas

[Ct3833]

Dec still got chance, July no hope will be higher due to entry of PH again and lower quotas

My Dec is Cat B . That is my fear

[Dafansu]

My Dec is Cat B . That is my fear

 

End year they will announce the next growth rate, expect to have some panic buying again. 

[Ct3833]

U renewed 2 Cars means less 2 quotas recycled back for bidding. How COE will stay low?? 1 contributing factor for COE spike is everybody taking advantage of low PQP to renew coe. Less cars scrapped means less quota recycled.

 

$4 - $7K roughly u add in, doubt chances are high for $40k Cat B by Dec. Even around there u break even. It's like playing stocks and shares....once done forget it, have a peace of mind sleeps better everyday. Not so big a sum actually, like I said depends how u look at the calculations but based on my numbers, u get my drift.

 

Chance, risk are the key words. High risk high returns, low risk u can see fix clear numbers. Coe is about gamble. LOL

now sounds like my fault. Haha.

Yes I just want to renew it and move on. I will lose more if COE will to drop significantly but I think it is unlikely. otherwise my risk potential is low. Peace of mind is the key word. Thanks for sharing your thoughts.

[Ronleo]

COE and Car Auto market is cash cow for man in white! Revenue collected is really obscene.

 

Next magic move coming. " 90% Loan" approved by law to be passed should economy slump further. Need to increase spending LOL.....I forsee.....I think, maybe, possibility.

Any recollection which year was it that they stop the 10 year loan thing?

[Johnson28]

Theoritically, you can get your car PARF back after renew COE, but need to deregister the car before the car reaches 10 years. and get the unused portion of renewed COE.

 

correct. https://www.onemotoring.com.sg/content/onemotoring/home/buying/rebates/parf-coe-rebate.html#Eligibility

 

PARF rebate

The PARF rebate is only for cars not more than 10 years old and taxis not more than 8 years old. It is calculated based on the age of your car and taxi when you deregister, and the amount of Additional Registration Fee (ARF) you paid. You can tell your car or taxi’s age by looking at the date it was registered locally or overseas, whichever is earlier.

 

 

[Johnson28]

1 less recycled coe for cat A pool from me  

Renewed now though coe expire oct 2019. Forfeit 6mths of current coe worth about $1k.

My guess : Pqp going up due to

A. 13.7%% cut in quota of cat A and 0% growth rate

B. The average formula means the low 25k in feb will be drop off n the latest 2 surge prices in apr will be in calculation going forward.

C. Cat A will catch up with cat B which is very high now. Pple who cannot reach cat B will chiong cat A

D. Pple topping up for new car give dealer margin to bid

E. If I win the bet by renewing early.. u lose only $1k.. if u lose the bet. The loss can go up to $50k n beyond. So calculated risk approach

F. Panic buying from those staying on sideline.

G. Even the next few coe remain $30+ k , pqp will still go up due to average formula. No more $26k for me. Bet $1k to win at least $4k with 95% chance of winning. No brainer
Also, even if use may pqp next month, still a $1.7k more than renew in apr. Y shd i give govt $1.7k more for nothing. Use the money to replace wear and tear parts better

H. Even if it go down, it will not go down a lot. Still strong demands from pple like gojek. Sg economy and world economy no signs of recession in next 6 months

 

I. More are choosing to extend the car life, the number of COE going forward will be lesser and pushed up the price further

 

J. in worse case coe crash to $1, i still can deregister and get $24866 remaining coe + Parf $9k and buy a new car

[Johnson28]

duplicate

Edited April 23, 2019 by Johnson28

[Seya]

1 less recycled coe for cat A pool from me

Renewed now though coe expire oct 2019. Forfeit 6mths of current coe worth about $1k.

My guess : Pqp going up due to

A. 13.7%% cut in quota of cat A and 0% growth rate

 

B. The average formula means the low 25k in feb will be drop off n the latest 2 surge prices in apr will be in calculation going forward.

 

C. Cat A will catch up with cat B which is very high now. Pple who cannot reach cat B will chiong cat A

 

D. Pple topping up for new car give dealer margin to bid

 

E. If I win the bet by renewing early.. u lose only $1k.. if u lose the bet. The loss can go up to $50k n beyond. So calculated risk approach

 

F. Panic buying from those staying on sideline.

 

G. Even the next few coe remain $30+ k , pqp will still go up due to average formula. No more $26k for me. Bet $1k to win at least $4k with 95% chance of winning. No brainer

Also, even if use may pqp next month, still a $1.7k more than renew in apr. Y shd i give govt $1.7k more for nothing. Use the money to replace wear and tear parts better

 

H. Even if it go down, it will not go down a lot. Still strong demands from pple like gojek. Sg economy and world economy no signs of recession in next 6 months

 

I. More are choosing to extend the car life, the number of COE going forward will be lesser and pushed up the price further

 

J. in worse case coe crash to $1, i still can deregister and get $24866 remaining coe + Parf $9k and buy a new car

The value of your forfeited 6 month COE will be determined by future COE price, not 1k.

If after 10 years, the COE price increased to 200k, then your forfeited COE value is 10K.So COE keep increase does not means renewal earlier is better. some more, you have to fork out the money earlier for renewal COE.

[Ct3833]

1 less recycled coe for cat A pool from me

Renewed now though coe expire oct 2019. Forfeit 6mths of current coe worth about $1k.

My guess : Pqp going up due to

A. 13.7%% cut in quota of cat A and 0% growth rate

 

B. The average formula means the low 25k in feb will be drop off n the latest 2 surge prices in apr will be in calculation going forward.

 

C. Cat A will catch up with cat B which is very high now. Pple who cannot reach cat B will chiong cat A

 

D. Pple topping up for new car give dealer margin to bid

 

E. If I win the bet by renewing early.. u lose only $1k.. if u lose the bet. The loss can go up to $50k n beyond. So calculated risk approach

 

F. Panic buying from those staying on sideline.

 

G. Even the next few coe remain $30+ k , pqp will still go up due to average formula. No more $26k for me. Bet $1k to win at least $4k with 95% chance of winning. No brainer

Also, even if use may pqp next month, still a $1.7k more than renew in apr. Y shd i give govt $1.7k more for nothing. Use the money to replace wear and tear parts better

 

H. Even if it go down, it will not go down a lot. Still strong demands from pple like gojek. Sg economy and world economy no signs of recession in next 6 months

 

I. More are choosing to extend the car life, the number of COE going forward will be lesser and pushed up the price further

 

J. in worse case coe crash to $1, i still can deregister and get $24866 remaining coe + Parf $9k and buy a new car

Same same, not sure should say great minds think alike..Haha

[awhtc]

The value of your forfeited 6 month COE will be determined by future COE price, not 1k.

If after 10 years, the COE price increased to 200k, then your forfeited COE value is 10K.So COE keep increase does not means renewal earlier is better. some more, you have to fork out the money earlier for renewal COE.

We don't have that many 10 years to live and we don't know what will happen then. It is better to take what is attractive on the table now.

[Hamburger]

GE coming, sure got pattern come out to appease motorist to keep coe price stable.

 

 

i hope....

[Johnson28]

The value of your forfeited 6 month COE will be determined by future COE price, not 1k.

If after 10 years, the COE price increased to 200k, then your forfeited COE value is 10K.So COE keep increase does not means renewal earlier is better. some more, you have to fork out the money earlier for renewal COE.

I rather fork out money earlier and sleep well knowing i do not need to fork out more than $26k in 6 months time.

Any pqp above $27k , i win.

I expect it to be at least $30k to $40k region in oct due to the above reasons

It's just basic maths formula and economics of supply and demand.

Somemore next carexpo at 27 apr and next coe bidding is 3 weeks instead of 2.

Confirm plus chop up up and away.

Good luck to you if u still waiting.

Edited April 24, 2019 by Johnson28