When is the Next COE Bidding?
The next Certificate of Entitlement (COE) bidding exercise for Quota Period May 2023 to July 2023 will open on Tuesday, 18 April 2023 and close on Thursday, 20 April 2023, 12pm.
What is COE Bidding?
COE bidding is a government-regulated system used in Singapore to control the number of new vehicles registered each year. Under this system, individuals and businesses wishing to register a new vehicle must first obtain a COE, which is a permit that allows them to do so.
How to Apply for a COE
To apply for a COE, you will need to submit an application through the OneMotoring website or at any authorised COE agent. The application fee is S$10.
Types of COEs
There are different types of COEs available, depending on the type of vehicle you are registering. The most common types of COEs are:
- Category A: Cars and motorcycles
- Category B: Buses
- Category C: Goods vehicles and special-purpose vehicles
- Category D: Motorcycles only
- Category E: Open category (can be used for any type of vehicle)
COE Prices
The prices of COEs fluctuate based on supply and demand. The average COE price for Category A vehicles in January 2023 was S$70,000.
Success Rates
The success rate for COE bids varies depending on the category of vehicle and the supply and demand. In January 2023, the success rate for Category A vehicles was around 45%.
Common Mistakes to Avoid
There are a few common mistakes that people make when applying for a COE. These include:
- Not submitting your application on time
- Not paying the application fee
- Submitting an incomplete application
- Bidding too high or too low
Step-by-Step Approach to COE Bidding
- Decide what type of vehicle you want to register.
- Check the COE prices and success rates for that type of vehicle.
- Decide how much you are willing to bid.
- Submit your application through the OneMotoring website or at an authorised COE agent.
- Wait for the results of the bidding exercise.
- If your bid is successful, you will need to pay the COE price and register your vehicle within one month.
Questions to Ask Yourself
- What is my budget for a new vehicle?
- What type of vehicle do I need?
- How important is it for me to have a new vehicle?
- Am I willing to wait for a COE?
Pain Points
- The high cost of COEs
- The long waiting times for COEs
- The uncertainty of the bidding process
Motivations
- The desire to own a new vehicle
- The need for a vehicle for work or family
- The convenience of having a vehicle
New Applications
- Using COEs to track the movement of goods and people
- Using COEs to manage traffic congestion
- Using COEs to promote the adoption of electric vehicles
Conclusion
COE bidding can be a complex and competitive process. However, by following the steps outlined in this guide, you can increase your chances of success.
Table 1: COE Prices (January 2023)
| Category | Price (S$) |
|---|---|
| A | 70,000 |
| B | 50,000 |
| C | 40,000 |
| D | 30,000 |
| E | 80,000 |
Table 2: Success Rates (January 2023)
| Category | Success Rate (%) |
|---|---|
| A | 45 |
| B | 35 |
| C | 25 |
| D | 15 |
| E | 10 |
Table 3: Common Mistakes to Avoid
| Mistake | How to Avoid It |
|---|---|
| Not submitting your application on time | Make sure to submit your application before the deadline. |
| Not paying the application fee | Pay the application fee online or at an authorised COE agent. |
| Submitting an incomplete application | Make sure to complete all of the fields on the application form. |
| Bidding too high or too low | Research the COE prices and success rates before submitting your bid. |
Table 4: Step-by-Step Approach to COE Bidding
| Step | Instructions |
|---|---|
| 1 | Decide what type of vehicle you want to register. |
| 2 | Check the COE prices and success rates for that type of vehicle. |
| 3 | Decide how much you are willing to bid. |
| 4 | Submit your application through the OneMotoring website or at an authorised COE agent. |
| 5 | Wait for the results of the bidding exercise. |
| 6 | If your bid is successful, you will need to pay the COE price and register your vehicle within one month. |
