Man in S’pore cries while hugging car he’s letting go due to COE expiration
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A man in Singapore was filmed hugging his car and crying.
This was so as he was saying goodbye to his Honda Civic, given that the vehicle's certificate of entitlement (COE) was expiring.
The Oct. 11 TikTok has been watched some 2.9 million times.
Throughout the video, her husband can be seen gently stroking his Honda Civic and hugging it, staring at it contemplatively.
In another instance, he rests his chin on the roof of the vehicle, patting it lovingly.
The man is visibly emotional as he inspects his vehicle for the last time, going around it as though to commit the car to his memory.
A month before the car's COE was up, the man's wife got him a farewell cake to mark the occasion knowing his attachment to his car.
"What is COE?", many asked
The video elicited many comments from people locally and overseas, with many people not from Singapore curious as to why the man had to let go of his car if it was still functioning.
It was explained by some familiar with the COE system in Singapore that the vehicle's COE served as a lease that could be renewed for one to continue holding on to the car.
However, there are conditions for its renewal.
The COE could either be renewed for five years or 10 years each time.
But if the last time the COE was renewed for five years, it would be the last round of renewal.
If the COE was renewed for 10 years, it can still be renewed the next time for another five or 10 years.
The current owner might either not be able to renew the COE as it was renewed for five years previously, or he chose not to renew it for another round this time.
The Honda Civic the man owns is likely a model with a 1.8-litre engine, which makes it a Category B COE car, owing to the 1,600cc or larger engine capacity.
The current 10-year COE for a Category B car is about S$103,000.
A five-year COE for a Category B car is about S$51,500.
Car owners can either pay the COE premium as a lump sum or service a loan.
Ref: Man in S’pore cries while hugging car he’s letting go due to COE expiration (asiaone)
