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Replace bidding with balloting for COE instead?

By SYF77 on 26 Oct 2011

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At the time of writing, Certificates of Entitlement (COE) prices for big cars have reached a new high this year - with premiums for big cars reaching S$76,000. COEs for small cars rose S$5,823 to S$56,112. The COE, instituted by the government of Singapore since May 1990, is a program designed to limit car ownership and hence the number of vehicles on the country's roads.

A high COE price will dash the hope of some young families of owning a car. A car could be a necessity for a young couple with an infant child in order to ferry the child to a child care centre in the morning before heading to work. Perhaps, a fairer way is to ballot the limited COE instead of bidding for it. A similar concept could be adopted like the way BTO flats are balloted. A first time car buyer could be given 3 chances in the ballot. An existing car owner who is driving a car with a balloted COE for less than 5 years could be given 2 chances and in the same fashion, an existing car owner who is driving a car with a balloted COE for less than 3 years could be given just 1 chance. An existing car owner who has not balloted for a COE for the past 5 years will be treated like a first time car buyer.

The above suggestion could be further refined for implementation. The downside of a balloting system could be a rise in the price of resale cars as people in need of a car urgently may not want to try their luck at balloting. I hope the relevant authority can look into the suggestion. The main purpose of the COE, as highlighted in the first paragraph, is to limit car ownership, unless the COE system has now become a profit centre instead.

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Written by SYF77
I have been a car fanatic since 1989, when my father was changing our family car then to a Toyota Corolla 1.6 GL fitted with a Twin Cam 16 valve engine that was carburetor-fed, a big deal back in those days. The automobile technology and industry fascinates me and I hope to broadcast these interesting developments to everyone out there through this blog.

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Liuz0004 Oct 26 2011 03:24 PM
For a flat, u must first form a family and u cannot sell/rent the flat b4 MOP (5 yrs i think)

Perhaps a similar set of criteria has to be in place b4 one can ballot for a car.
Mecontle Oct 26 2011 09:38 PM
cant afford new car can always get a used one , unless the real purpose is to show off the new car
Dwee Oct 27 2011 11:22 AM
Is very subjective to individuals when one opts to purchase a new car. Not necessary to show off. There are many more worries when purchasing a used car. Example : What is the Real reason the previous owner sold this car , individual acceptance level to the permanent stains internally & externally , is there any problem to the engine which can't be detected currently, is there any minor or major accident that was not claim or reported , is this car been flooded before , does the previous owner drove the car with due care .... etc.....
Dwee Oct 27 2011 11:26 AM
I just find that the COE system here is ridiculous . . . No worries to the rich people. It only makes it extremely more difficult to the middle or lower income people to own a car for their individual reasons.
Amuroboy Oct 27 2011 12:27 PM
you think our garmen will implement this to lessen their income meh lol!
Jerrcik Oct 27 2011 04:36 PM
I can only say.....

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