The COE bidding results are out today. To my dismay, the COE for cars of 1600cc & below has dropped to $2,693, which's not a good thing for someone who's trying to get OPC rebate for a low OMV car....I just learnt that the OPC rebate is not necessarily $17K, as it also depends on the car's OMV and the COE rate at the time of your successful bid. The OPC rebate will be the lower amount - either $17K (maximum) or the amount of COE + OMV. My Picanto has an OMV of around $8.5K and thus my OPC rebate is just $11,193! However, the car price is fixed at the moment I booked the car, so the cost of my Picanto is $31,888 - $11,193 = $20,695. So expensive! I thought that I could get my Picanto at around $18K.....so sad.
I have to pay for my insurance and first month installment this Friday, and apply for my season parking, which costs $90 a month. My hard earned savings...If only I don't like driving that much, then I could wait a year and save $1K plus on my insurance...and maybe by then I would have more savings to rely on and get a higher OPC rebate. However, knowing the type of person I am, I could never wait so long once I set my eyes on something. Please don't be like me, ok? I think the COE will drop further after CNY...not a good time to buy low-OMV OPC cars.
I haven't got my triangles yet...I'll get pandan leaves to prevent small cockroaches from living in my car. I can't imagine what I would do if a cockroach stick onto me while I'm driving....I hate insects. I hope I will get a good car plate number...I really don't like the number "4".
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