You may know that every vehicle must own a Certificate of Entitlement in short CEO. It is a legal document and having one for your vehicle, you can own it for a decade. You should have this legal document for all the vehicles that you own like cars, motor bikes, trucks and more.
One thing that you need to know is this COE price is not fixed and it used to oscillate every now and then. This price is totally relied on type of vehicle as well as on the supply and demand of a particular automobile.
Once the COE of your car expires, you can go for two options, one is extending it and the other one is deregistering your car. In the meantime, you are given a month deadline and before it, it is recommended for you to renew the CEO. Else you need to pay the fee along with the late charge.
By paying the current coe price you will be able to extend your CEO for the next 5 to 10 years. But when you choose to deregister your vehicle, you need to scrap it and since saying goodbyes to your car is a painful one, extending the COE is the right decision.
Also, the cost of vehicles that you can find in the market these days is huge. With that in your mind, choose the right company which has been in the field for several years is a good idea. Hope, you have got a clear mind after going through this article.