Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$118,001 from S$105,002.COEs for commercial vehicles under Category C, which includes goods vehicles and buses, also hit a new high, rising to S$87,790 and erasing theFor Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$86,556, up from S$86,000.Motorcycle premiums closed at S$12,189, up from S$11,602.
Under the changes, announced by Finance Minister Lawrence Wong in his Budget speech on Feb 14, owners of higher-end cars willThe highest tier for ARF banding, which involves vehicles with an open market value of above S$80,000, will see revised ARF rates of 320 per cent - up from 220 per cent previously.
For vehicles with an OMV above S$40,000 to S$60,000, the revised ARF rates will be 190 per cent. And vehicles with an OMV above S$60,000 to S$80,000 will be charged an ARF rate of 250 per cent.
Source: Car News Wire (carnewswire.net)
The COE quota system where only the rich hv a car is no longer tenable. It does not distribute the cars faily based on needs. Half of the monthly quota released shld be by ballots. Nobody shld own more than 1 car. Bidding by self n not by dealers.
Let’s see some changes in COE. Set aside half of COE quotas to be balloted like HDB BTOs. These COEs cannot be sold or transferred and will only be returned to gov if the owner wishes to sell their car before their 10th year.
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