How to bid for a COE

Practically every new car bought in Singapore is bid for by the dealer, not by the buyer. The dealer places the bid, holds the bid bond, and either passes the COE premium through to the buyer at cost or quotes a guaranteed COE price as part of a package deal. For most buyers, "bidding for COE" means signing a sales agreement with a dealer that specifies how the COE cost will be handled.

Bidding through a dealer

1. Choose your vehicle and dealer. Confirm whether the price quoted includes COE at cost (you bear the bidding risk) or is guaranteed (the dealer bears it, usually with a small premium baked in).
2. Sign the sales agreement and pay the booking deposit. The dealer files the bid on your behalf in the next exercise that suits your timing.
3. If the bid wins, the COE is registered against your vehicle and the premium is settled per the agreement. If it loses, the dealer re-bids in the following exercise.

Bidding directly through OneMotoring

Direct bidding is rare but possible, typically used by individuals buying second-hand vehicles where the original COE has been de-registered, or by people importing parallel-import vehicles themselves. The steps:

1. Register a OneMotoring (LTA) account and pay the one-time registration if required.
2. Open a bid bond with one of the participating banks. Current bond sizes are S$10,000 for Categories A, B, C, and E and S$200 for Category D, paid up-front and refunded if you do not win.
3. On a bidding day, place your starting bid through OneMotoring's COE bidding service before the cut-off. Singpass authentication is required.
4. Watch the live current COE price during the open window. You can revise your bid upward as many times as you like; you cannot revise it down.
5. If your bid is above the cut-off when the exercise closes, you win. The premium is debited from the bid bond and you have a window of several months to register the vehicle.

What it feels like in practice

The bidding interface shows a "current quota premium" that updates live during the open window. As more bidders join and revise their bids upward, the cut-off rises. People watching for the first time often find it nerve-wracking. Most experienced bidders, including dealers, set a maximum they're willing to pay before the exercise opens and stop revising once they hit it.

For the underlying mechanics (why all bidders pay the same price, why bids can't be lowered, what happens to the bid bond), see How does COE bidding work.