1 bid, 4 bids or 6 bids. What a COE package really tells you about the dealer.
COE bidding happens every two weeks. A multi-bid package gives the dealer several tries at your COE. That sounds flexible until premiums rise and you are the one waiting.
When you buy a new car in Singapore, the dealer has to win a COE for it in one of LTA's bidding exercises, which run twice a month. How the dealer handles that bidding is part of what you are buying, and it is written into your sales agreement.
Most packages come in three shapes: 1 bid, 4 bids or 6 bids.
What the number means
The number is how many bidding rounds the dealer gets to secure your COE at the price built into your deal.
- 1 bid. The dealer commits to getting your COE in one round. If the premium closes higher than expected, that is the dealer's problem, not yours.
- 4 or 6 bids. The dealer can keep trying over several rounds, which can stretch to two or three months.
Why a dealer would want more bids
There are two common reasons, and neither is in your favour.
- No stock on hand. If the car is not physically available, a multi-bid package buys the dealer time while you wait.
- Betting on the COE price. More rounds means more chances to catch a dip. If the premium falls, the dealer keeps the difference. If it rises, you wait, and depending on the agreement you may be asked to top up or start over.
Buying a car should be a pleasant experience. There is no reason to let someone you do not know gamble with your money.
Why 1 bid is worth asking for
- Assurance. Your COE is secured in one round.
- Peace of mind. No checking bidding results every two weeks.
- Faster delivery. Sign, then move straight to registration and handover.
- A fixed price. The figure you signed for is the figure you pay, even if premiums jump the following week.
At CarTimes, new cars are sold on a 1-bid guaranteed basis. If the COE is secured below the level built into your price, the difference comes back to you as a discount, so the guarantee never works against you.
The question to ask any dealer
Before you sign for a new car anywhere, ask: "How many bids is this, and what happens to my price if the COE closes higher than you expect?" A clear answer tells you a lot. A vague one tells you more.
If you want our current 1-bid guaranteed prices, they are all on the new cars page.
Looking at something specific?
Send us the car and we will run these numbers on it before you commit to anything.