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Vehicle owners often have a common dilemma: should they renew their vehicle’s COE, or simply purchase a brand new vehicle. Before making any decisions, this article will give you a clearer understanding on why now is the perfect time to renew your COE.
1) COE prices are probably not going to dip further
Many vehicle owners are banking on the hope that COE prices are going to dip further due to the COVID-19 outbreak. Sad to say, this possibility might be unlikely. Looking at the COE prices back in 2003, when SARS was at its peak, COE prices actually increased. So the current COE prices may be low… but not for long!
2) Save cash when you renew your COE
With the looming economic recession, it is important to be prudent in spending to tide through potential rainy days ahead. Bearing this in mind, it may be unwise to put down a huge sum of money for a brand new car. If you were previously intending to purchase a brand new car, maybe renewing your car’s COE with a loan may not be that bad of an idea… as the common saying goes, “cash is king”.
3) Renew your COE at the convenience of your home
With the current Circuit Breaker measures, our daily lives have been severely impacted. Leaving the house for a walk seems like a risky matter and finding a workshop for vehicle repairs has never been harder. However, renewing your COE can be done from the convenience of your home! Sounds too good to be true? It’s not… Motorist is still open to handle all your COE renewal enquiries. We can even help you find the best loan rates from banks! Simply leave your contact details below and we will be more than happy to assist you.
Stay safe and stay home! Let’s all do our part to get through COVID-19 together.
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