CNA Explains: Will new loan limits for private-hire cars mean less COE demand or higher ride-hailing prices?
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Individuals purchasing vehicles registered as private-hire cars now face new borrowing limits. They can only borrow up to 70 percent of the purchase price, which is a decrease from the previous 100 percent limit. Experts are currently unsure if this change will reduce the demand for Certificates of Entitlement.
Individuals buying vehicles registered as private-hire cars can now only borrow up to 70 per cent of the car’s purchase price, compared with 100 per cent previously, but experts say it remains unclear whether this will lead to lower demand for COEs.