VQS, which stands for Vehicle Quota System, is a scheme from the Land Transport Authority of Singapore to determine the number of new cars and other vehicles to control the car population in Singapore. Why do you care? Without this particular system, you can't drive your flashy Ferraris or Lamborghinis along the roads of Singapore, pick up friends along the kerb or even drive along the Drive Thru at fast food outlets.
Under the VQS, there is the Certificate of Entitlement or COE for short, is a way to administer the VQS. Don't understand? Here, I'll explain further. Under the system, a certain number of new cars are issued based on new cars that can be purchased. COE biddings starts on the first and third Monday of the month and typically lasts for 3 days to the following Wednesday. Non-transferable COEs are tied to the vehicle, but the vehicle and its COE can be sold to a new owner, So it is basically a complicated auction. COEs are also extra fees for the car you are buying. The Government's goal is to encourage Public Transport and to control the car population of Singapore. That is what the VQS and COE are all about!
