Low COE prices could drive more to scrap cars prematurely

Motorists who bought their cars between 2014 and 2016 are finding it more attractive to switch to a new one now.
Motorists who bought their cars between 2014 and 2016 are finding it more attractive to switch to a new one now.PHOTO: ST FILE

SINGAPORE - Motorist Jon Yeo's pearl-white Toyota Wish - a popular seven-seater - is barely two years old, but he is considering swopping it for a brand new car.

With certificate of entitlement (COE) prices having plunged to their lowest in nearly a decade - $25,000 for smaller cars and $31,000 for bigger models - car owners like Mr Yeo are redoing their sums.

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