Used car prices expected to stay high for some time yet

Customers at a used-car showroom at Turf City in 2013. PHOTO: ST FILE
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SINGAPORE - Consumers hoping for used car bargains will likely have to wait longer to see prices easing.

While used car prices have been rising along with certificate of entitlement (COE) premiums, industry players say there are early signs of the market weakening after large car COEs breached the $100,000 mark in June. However, dealers are unwilling to drop prices on cars they had bought when the market price was high.

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