23 Feb '12, 9am

Sky-high COE prices push consumers toward used cars | SingaporeScene - Yahoo! via @yahoosg

Sky-high COE prices push consumers toward used cars | SingaporeScene - Yahoo! via @yahoosg

High Certificate of Entitlement (COE) prices are likely to deter Singaporeans from buying new cars. (Photo: AF … Singaporeans said surging Certificate of Entitlement (COE) prices are likely to deter them from buying new cars and instead turn to the second-hand car market for vehicles to purchase The recent tender conducted on Wednesday saw COE prices increase between S$2,000 and S$4,000 across all categories except motorcycles. "Is the government trying to stop us from driving cars? The COE difference is too much. It's equal to a secondhand car," said account executive Tan Poh Ling. "Rich people will still buy cars because it's a luxury to them, so the money doesn't really matter. But middle class people like us will be affected." The 40-year-old added that as the COE price increase might lead to higher demand for secondhand cars, prices in that market might rise. Other mo...

Full article: http://sg.news.yahoo.com/blogs/singaporescene/sky-high-co...

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