Is this the best time to buy a new car since the COE is so low?

Question:
But the agents only agreed to go down by about S$2000 instead of the S$5000. Why is this so?

Answers:

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The $5000 COE may be a short-term fluke event, as for that bidding, there was a shorter than usual period after the previous bidding. Thus there were less buyers bidding. Moreover this event coincided with the post-Chinese New Year period, where traditionally there are less car buyers. COE prices are likely to increase to levels less unusual. Note that interest rates are creeping up!

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