COE Bidding Deposit Explained: How Much, and How Refunds Work
To take part in a COE bidding exercise, you (or your dealer) must place a deposit. It’s a small but important step in the process. Here’s exactly how it works.
How Much Is the Deposit?
The deposit is a fixed amount set for each vehicle class — commonly $10,000 for cars and a smaller sum for motorcycles. It is not your bid amount; it’s a refundable sum that lets you enter the auction. Confirm the current figure with the LTA or your dealer before bidding.
What the Deposit Is For
The deposit ensures bidders are serious. When you place a bid, you also set a reserve price — the maximum you’re willing to pay. The deposit secures your participation up to that reserve.
If You Win
If your bid succeeds, the deposit goes toward your COE cost. You then pay the balance — the difference between the Quota Premium (the price all winners pay) and the deposit already placed. For how the winning price is set, see our step-by-step bidding guide.
If You Don’t Win
If your bid is unsuccessful, the deposit is refunded. The timing and method depend on how you bid:
| How you bid | Refund handling |
|---|---|
| Through a dealer | The dealer manages the deposit as part of your purchase arrangement |
| On your own (via bank) | Refunded to the account used, per the bank/LTA process |
Bidding Through a Dealer
Most new-car buyers never handle the deposit directly — the dealer places it and folds it into the purchase contract. If you’re bidding independently (for example, for a used or parallel import), you manage the deposit yourself.
A Practical Tip
Because the deposit only gets you into the auction — it doesn’t guarantee a win — the real decision is your reserve price. Setting it with the recent price trends in mind helps you avoid both overpaying and missing out. Reviewing the latest results for your category before each exercise is the best preparation.
The free COE Price Tracker app shows a countdown to the next exercise plus live trends, so you can set a sensible reserve before bidding opens.
This article is for general information only and is not financial advice. For current deposit amounts and refund procedures, refer to the LTA.
Related reading: How to Bid for COE · How to Save Money on COE
What is your car worth today?
Save your car and see its estimated paper value — PARF plus COE rebate — with a reminder before it steps down. Live COE prices, road tax and rebate calculators too. Free, no ads.