Low COE prices may fuel scrapping of newer cars

Owners redoing sums as it's to their advantage to consider swopping for brand new car

With the drop in COE prices, motorists who bought their cars between 2014 and 2016 are finding it more attractive to switch to a new ride now. ST PHOTO: ALPHONSUS CHERN
New: Gift this subscriber-only story to your friends and family

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.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's WhatsApp Channel and get the latest news and must-reads.

A version of this article appeared in the print edition of The Sunday Times on July 08, 2018, with the headline Low COE prices may fuel scrapping of newer cars. Subscribe