How to Buy a COE Car in Singapore

If you are wanting to purchase a car or have a car imported to Singapore you might want to think twice before you do. Owning a car in Singapore isn't the easiest, and far from the cheapest place to do so. Before purchasing a car or licensing one you need to obtain a Certificate of Entitlement or COE. The cost of obtaining one can cost more than $30,000, as of June 2010. And isn't quite as easy as titling a car in your name. Unless you purchase a car that has a category A,B, or D COE, those can be transferred with the vehicle when you purchase it. Category C, and E stay with the owner of the C, and can be transferred to different vehicles.

Things You'll Need

  • Bank Account
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Instructions

    • 1

      Purchase the car of your choice, if you are purchasing the car from a dealer lot they will assist you in obtaining a COE. If you purchase the car from an individual it is best to be sure that the car already has a COE. If so when you register the car it will be included in the process of transferring the information to your name.

    • 2

      Submit your bid on the first and third Monday of the month through most banks, and their ATMs, online accounts and phone banking. Applying for the COE can only be done at these locations. Ask the bank if they support the COE open-bidding system. They will help you with the application process for the COE. You need to have verification of available funds when you apply.

    • 3

      Bid the maximum amount you are willing to pay for the COE. As of June 2010, there is a $1 minimum reserve for each bid.

    • 4

      Check on your bid through the bank's ATM, online, or phone accounts, and the Land Transport authority phone system or website.

    • 5

      Revise your bid through all of the above stated locations, although there is a fee for each revision.

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