Image Credit: Siti Rahmanah | Unsplash
If you don’t already know, the COE bidding exercise in Singapore happens twice a month. It always starts on a Monday at noon, and ends that same week on a Wednesday, at 4pm sharp. To find out when each COE bidding exercise will occur in 2021, check out the table below:
|Month||COE Bidding End Date|
|January 2021 (1st)||6 Jan 2021 (Wed)|
|January 2021 (2nd)||20 Jan 2021 (Wed)|
|February 2021 (1st)||3 Feb 2021 (Wed)|
|February 2021 (2nd)||17 Feb 2021 (Wed)|
|March 2021 (1st)||3 Mar 2021 (Wed)|
|March 2021 (2nd)||17 Mar 2021 (Wed)|
|April 2021 (1st)||7 Apr 2021 (Wed)|
|April 2021 (2nd)||21 Apr 2021 (Wed)|
|May 2021 (1st)||5 May 2021 (Wed)|
|May 2021 (2nd)||19 May 2021 (Wed)|
|June 2021 (1st)||9 Jun 2021 (Wed)|
|June 2021 (2nd)||23 Jun 2021 (Wed)|
|July 2021 (1st)||7 Jul 2021 (Wed)|
|July 2021 (2nd)||22 Jul 2021 (Thu)|
|August 2021 (1st)||4 Aug 2021 (Wed)|
|August 2021 (2nd)||18 Aug 2021 (Wed)|
|September 2021 (1st)||8 Sep 2021 (Wed)|
|September 2021 (2nd)||22 Sep 2021 (Wed)|
|October 2021 (1st)||6 Oct 2021 (Wed)|
|October 2021 (2nd)||20 Oct 2021 (Wed)|
|November 2021 (1st)||3 Nov 2021 (Wed)|
|November 2021 (2nd)||17 Nov 2021 (Wed)|
|December 2021 (1st)||8 Dec 2021 (Wed)|
|December 2021 (2nd)||22 Dec 2021 (Wed)|
A little more about COE in Singapore
Image Credit: Markus Winkler | Unsplash
COE, or the Certificate of Entitlement, is a document that gives individuals the right to register, own and use a vehicle in Singapore for a period of no more than 10 years. Upon the expiry of your COE, you can choose to either renew it for another 5 or 10 years, or deregister your vehicle.
The number of available COEs is decided by the Government every six months, using a Vehicle Quota System (VQS – Not to be confused with VHS). Why is COE a thing in Singapore, you might ask. Why are cars so bloody expensive in this part of the world? The answer is simple: As a tiny country with a population of nearly 6 million people, we need to deftly deal with land constraints and congestion on our roads.
At every bidding exercise, COE prices are determined by (drum roll)… Demand and supply. Demand can be affected by various factors such as the economic climate, the launch of new vehicle models, and the level of competition amongst automobile manufacturers. The supply of COEs is thereafter influenced by the suggested vehicle growth rate and number of vehicle deregistrations, which makes up a huge bulk of each COE quota.
Once the COE quota is fixed, the COE price is determined by market forces that help ensure the demand can match the supply. The lower the demand, the lower the COE price and vice versa. Capiche?
Image Credit: Lily Banse | Unsplash
There are 2 ways to submit your bid for COE: Via DBS or POSB ATMs, or by Internet Banking services offered by DBS, Maybank or UOB. Naturally, you’ll need a bank account with one of these banks to submit your bid. Unfortunately, you are not able to submit a bid on behalf of someone else with your bank account.
For more information on COE bids, check out One Motoring’s page.