Important things to do when you are getting a COE

Before you register a car in Singapore, you will have to go through a number of complications that you will not have to go through any other country. Yes, you have to get a COE before you register your car. The COE gives you the chance to register and use your car for 10 years and you can extend the COE. In simple terms, in Singapore, you are not allowed to have a car if you don’t have a COE.

If you want to get car, before you register it, you have to bid for the COE. After you have bid of the COE, you can find outfit you have success in it by looking into the latest coe bidding results. In order get successful outcome from the bidding, you have to make sure that you follow the right steps to it. Here are some of the most important things that you should do when you are getting a COE:

Does your bank account have the needed funds?

The first thing that you should be considerate about is if you are having the needed funds in your bank account. You will need to have the bid deposit and also the administration fee. Most of the time, you will have to pay around $12 for the administration free. In order to gain an idea about the cost that you have to for the vehicle that you are getting, you should look into the category that it belongs to. If you are getting a COE for a vehicle that belongs to the categories A, B, C and E, you will need a bid deposit of $10,000. On the other hand, if the vehicle that you are planning to register falls under the vehicle category D, you will only need $200.

Get the Bidder ID right

One of the most important things to look into is if you are including the bidder ID correctly when you are bidding. If you are not, you will not be able to register your vehicle. Therefore, you should always pay close attention to whenever you have to enter the bidder ID.

What’s your reserve price?

When you are bidding, you will have to enter the maximum price that you are capable of spending. This price is known as the bidder price. The minimum reserve price is known to be $1. You will have to revise on the bid that you have made if the prevailing COE price is more than the reserve price.

 

 

 

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