COE in Singapore - Four Things You Need to Know
COE in Singapore - Four Things You Need to Know
Before purchasing a car in Singapore, you’ll first need to get a COE (Certificate of Entitlement). This will entitle you to own a car for up to 10 years. However, COEs can only be obtained via an auction, which means you’ll need to know how to check your COE results.
Here are four things every driver needs to know about COE results, including how often they are released, where you can view past results, how to monitor yours, and what you should do upon receiving a successful result.
How often are COE results released?
COE results are released twice a month. Specifically, they are released on the first and third week of each calendar month, once the respective bidding exercise has been concluded. COE open bidding exercises are held on the first and third Mondays of each month, generally starting at 12 pm. If the start of the bidding exercise falls on a public holiday, the start date is deferred to the next working day.
Each exercise lasts three working days and closes on Wednesday at 4 pm if it starts on Monday. Thereafter, the results are tallied, verified and published by the Land Transport Authority (LTA).
Where can you view your COE results?
If you have entered an open bidding exercise, you may check your COE results by logging in to the LTA Open Bidding website. You’ll need your Bidder ID as well as your latest Acknowledgement Code.
After logging in, you will see the status of your bid. Pay attention to “Current Bid Status” – it will tell you whether your bid is still in the running.
If you see “Outbid”, you are no longer in the running for a COE, as the current COE price is higher than your reserve price. You may want to revise your COE bid to remain in the running for a COE, or try again during the next bidding exercise.
If you see “Accepted”, this means that your bid is still in the running for a COE.
Besides the LTA Opening Bidding Website, you can also view your COE results via online banking with DBS, UOB or Maybank. Please check with your respective bank for specific instructions.
If you’re looking for COE results of past open bidding exercises, you can find them on several websites. Many dealers, forums and car marketplaces carry updated COE results, making for a handy reference.
What factors affect your COE result
The quota available for COEs is tightly controlled, and there are almost always more bidders than COEs available during each Opening Bidding Exercise.
This is to be expected, given how the COE system was implemented to control the number of vehicles plying our roads.
In practice, this means that getting a COE is not guaranteed, and you should expect to be outbid and plan accordingly.
Note that the more bidders there are, the higher the chances of this happening.
What happens after a successful COE result?
After winning a bid, you will be granted a Temporary COE (TCOE), which you can use to register your new vehicle.
You’ll want to act fast, as your TCOE is valid only for a limited number of months. Once expired, it can no longer be used, and your COE bid deposit will be forfeited along with it.
The TCOE validity period for different vehicle categories is as follows:
- Categories A and B: 3 months
- Categories C, D and E: 6 months
TCOEs for Categories C and E may be transferred, provided you’ve bidded for them as an individual (and not as a company, business or organisation). Only one transfer to another individual is allowed.
Conclusion: COE results in Singapore
Now that you know how to check your COE results, what factors can affect them, and what you should do after receiving a successful result, you’re all set to embark on the first step in purchasing your new car. However, if you find the whole process a hassle, come to us as we provide a full-fledged service from choosing a car, getting your COE and delivering the car to you.
Not sure which model you should get? Browse our collection of brand-new and pre-owned cars from leading car manufacturers around the world. From beloved classics to the latest models, you’ll be sure to find something you’ll love.
Need more help? Don’t hesitate to give us a call at 6570 9482, or visit carzworld.com.sg.
