COE expiring soon in Aug.
But with car prices heading northwards (despite all the new measures), i am considering to wait it out until the prices becomes more reasonable, by renewing the COE for another 5 years (hopefully) - current estimates ~$38K. I heard a few things will happen:
1. Road tax goes up 10% every year to max of 150%
2. Insurance - no more comprehensive, only 3rd party
3. Vehicle check - have to do this annually and at higher cost.
Can anybody help to verify if the above is true? My Vios was previously red-plate so mileage is quite low (use only during week-ends). Car is also pretty reliable. Any other things to consider?
That's what the workshop is advicing as well. Been looking around for a good deal like what you mentioned, but no good news yet (so far). That's why i am thinking of alternatives.