Low COE prices may fuel scrapping of newer cars

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.
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

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

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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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'. Print Edition | Subscribe