Tuesday, 9 July 2013

COE at high prices

Many Singaporeans would wish to own a car as it provides easier access for transport instead of looking for the nearest bus stop or train station. But given the high price of the COE(certificate of entitlement) , is it still possible?
Recently, the prices of COE is about $70k, that's almost the price of the car itself. If you include the COE, it's like paying the price for 2 cars.
Compared to in 2007 when the prices were ranging between $14k to $18k. 
Judging from a person who earns $10k a month and save $9k of it for the car, it would take that person around 15-16 months to save that sum. But given the taxes and spendings of an average person, $1 000 is not enough.

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