Singaporean Man Cries While Giving Up His Honda Civic with Expired COE
In this viral video, a Singaporean man can be seen crying while letting go of his Honda Civic. The video was posted by the man’s wife and it was actually a farewell to the car with an expiring COE.
COE is the Certificate of Entitlement in Singapore and can only be renewed to a maximum of 10 years. You may either renew it twice at 5 years a pop or 10 years at one go.
When your COE expires you are no longer entitled to the car and must give it up so it can join the highway in the skies (well, they’re actually exported out of the country).
Singapore has a fixed amount of cars on the road so to maintain this amount the government has strict rules about ownership and these COEs don’t come cheap.
The current 10-year COE for a Category B car is about S$103,000 (the estimated category for this particular Honda Civic).
A five-year COE for a Category B car is about S$51,500.
Car owners can either pay the COE premium as a lump sum or service a loan.
That’s RM349,000 just to have a license to own the car. The highest spec Honda Civic right now costs only RM167,900.
No wonder he’s crying. Sheesh.
