Latest Quota for COE...

[Lava]

high coe perhaps is a perfect tool to control and manage car population in sg. Can't imagine how our road will be if coe is low and every way just flooded with cars.

 

hight coe also force ppl to buy a better car to at least make our city look nicer and presentable.

 

if u are sick -- take taxi so u can reach hospital in time

if u are old -- take taxi so u can travel safe

if u are on leisure -- take taxi so no need to fight for parking

if u are on entertaining -- take taxi so u can drink

if u are in biz -- take taxi so u can relax while travelling

 

we have worldclass public commuter infrastructure n why not making full use of them instead of die die must own a car if yr pocket is not deep enough?

 

so no objection for high coe perhaps support high coe to discourage ppl from driving.

[Dark]

Actually I'm perfectly fine with the rich and poor divide.

It helps to highlight all the wannabes who want a car real bad but cannot have one.

Let's say you're well dressed and driving round town in a BMW coupe, suddenly next to you a guy poorly dressed driving the same car as you pulls up along side with you. I swear you'd go OMG my car is no longer exclusive! I won't want that.

That's another reason why I'm against a full loan. It not only allows more cars to be added to the ever growing population of cars with ease, it no longer makes a car exclusive.

In fact there's almost nothing that can be used to differentiate you and another guy driving the same car as you.

The only consolation is that you can say that the car belongs to you and not the bank or some financial institution.

 

I heard the most ludicrous thing the other day.

Some NS guy took a massive loan for a bike that only cost 2500 over a period of 2 years. WTF??

Eventually after he calculated his installments, he will be paying close to 5000 for the bike.

What ever happened to saving up for something you want?

Save a few months of NS pay can get the bike already.

 

Sadly most singaporeans don't realise how much extra they're paying when they take a loan for a car.

In other words cannot afford don't buy, don't add on to the ever growing population of cars.

 

Then again, those who really cannot afford it will have their cars repossessed and it's a good opportunity for people who can afford a car to get these cars at a bargain.

 

You sound elitist.

 

Whether rich or poor, over-stretching your finances is always risky. Like I said, regulating the loan-ratio should be the way forward as it has been proven what disaster the free market can lead to.

 

[Dark]

high coe perhaps is a perfect tool to control and manage car population in sg. Can't imagine how our road will be if coe is low and every way just flooded with cars.

 

hight coe also force ppl to buy a better car to at least make our city look nicer and presentable.

 

if u are sick -- take taxi so u can reach hospital in time

if u are old -- take taxi so u can travel safe

if u are on leisure -- take taxi so no need to fight for parking

if u are on entertaining -- take taxi so u can drink

if u are in biz -- take taxi so u can relax while travelling

 

we have worldclass public commuter infrastructure n why not making full use of them instead of die die must own a car if yr pocket is not deep enough?

 

so no objection for high coe perhaps support high coe to discourage ppl from driving.

 

You also sound elitist. Are you very rich?

 

Tell me how can cheap or affordable COE lead to more cars on the road when the number of COE issued is controlled?

 

The number of COE allocated every month is fixed on 6-monthly basis, it is just how much you pay for it. What I am advocating is a fairer allocation of COE.

Edited July 14, 2012 by Dark

[Fastfive1]

You sound elitist.

 

Whether rich or poor, over-stretching your finances is always risky. Like I said, regulating the loan-ratio should be the way forward as it has been proven what disaster the free market can lead to.

 

You have to understand that that is how a capitalist system works. Would you rather be like north korea?

[TerryT]

There would be quotes number of deregisteration next year.....would not that release more Coe and decrease the price?

[SLSAMG88]

Can't imagine how our road will be if coe is low and every way just flooded with cars.

 

Sure you can, just make a trip down to KL, Bangkok, Jakarta or Manila.

 

Lesser cars = Better life.

 

Go go go COE!!!

 

Although I will definitely be one of those who will be scrapping my car if the COE remains this high.

[Dark]

You have to understand that that is how a capitalist system works. Would you rather be like north korea?

 

You mean asking for a fairer allocation of COE to reduce the rich-poor divide will make us become like North Korea?

 

It is your comment on exclusivity for the rich that make you sound elitist.

 

Like you I am against full loan to discourage over-stretching whether for rich or poor.

 

But you are also contradicting as capitalism advocates free market and discourages regulation, so full loan is the result of a capitalist system.

[Kweechang]

Like you I am against full loan to discourage over-stretching whether for rich or poor.

 

Rich people pay solid cash. Therefore, by reducing the loan period, it will only impact on the poor. Poor man still has no car/COE.

[Maroon5]

Best way to control car population while ensuring that the cost of living and the debt burden per capital is lowered is:

 

1) Allow loan to be taken for 50% of value of car (nett COE), so COE must be paid upfront

2) Make car interest rate 5%

3) Road tax and COE for 2nd car in the same core family be 50% more

 

your pt 2 is not only creating arbitrage scenarios in this low int environment but also further favouring the wealthy buyers.

 

fact is demand for a car here can b due to quite real reasons (work, family, old parents, ulu wkplace, irregular hours) so not all the 10 yr loan buyers are jus doing it to look good.

[Lava]

the coe here is base on demand and supply so nothing to surprise with the high coe. in fact it will help those who cannot afford to give up owning a car to avoid overstretch in their financial commitment.

 

Just like some ppl die die want to be a car owner so cut their daliy expenses here and there to get a PRC made car and ended up with deep trouble.

 

High loan or low loan is depending on how u want to allocate your $$ vs your return in investment. not forgetting the sg is a free market as long as there is a demand there will be a supply.

 

there is no fair allocation in the world unless u are in commurist society. we work on demand and supply theory. so high coe is expected to continue and don't dream of owning a car with jus 3~4k of monthly income.

 

 

[Carpmael1999]

You are the only one who talks sense here.

[Maroon5]

Actually I'm perfectly fine with the rich and poor divide.

It helps to highlight all the wannabes who want a car real bad but cannot have one.

Let's say you're well dressed and driving round town in a BMW coupe, suddenly next to you a guy poorly dressed driving the same car as you pulls up along side with you. I swear you'd go OMG my car is no longer exclusive! I won't want that.

That's another reason why I'm against a full loan. It not only allows more cars to be added to the ever growing population of cars with ease, it no longer makes a car exclusive.

In fact there's almost nothing that can be used to differentiate you and another guy driving the same car as you.

The only consolation is that you can say that the car belongs to you and not the bank or some financial institution.

 

tis the modern day situation. the big rich poor divide wil create that thick middle class so forget abt wat exclusivity esp in cars.

wan exclusive, minimal maser and above, and the latest models pls. those 2nd hand buyers of such cars at 5-6yo are never going to b in your league per se.

 

pple wan to take loan is jus differences in attitude and mentality. end of the day for those 10yr loaners to get their entry level conti they pay w their pockets, not yours or mine. jus stick to your own financial plan and ignore the noises. easier to change yourself than the world.

[Maroon5]

Quotas have to reduced further lah ... look at the jams on the roads everyday .... driving home from 5 to 8 pm on a weekday is terrible ... hardly gets a "jam free" drive home ..... lets not forget that the correction of the overprojection and release of quotas have not happen yet.

 

why dun suggest higher ERP so you can have your jam free drive home?

[Maroon5]

Spotted a SKG plate in my neightbourhood liao.

 

and i hv a OPC grey C180K ard my place. SKF plate i thk

160K + interests sitting in the carpark while the owner likely takes public transport to work. tat is simply brilliant.

[Carpmael1999]

SG is a free market therefore no point talking on high interest rate at this moment.

 

There is nothing wrong in having high COE in SG since we have limited resources. The motive behind is:

 

DON'T DRIVE IF YOU CAN'T AFFORD

 

I see nothing wrong in putting taxi in Cat A at least keep taxi fare as at today stage. I don't think we should seperate taxi CAT n bring up the fare. No help in driving down Cat A COE by seperating taxi Cat. With Bimmer, Merc, Volvo, Audi entering into Cat A, do you think Cat A COE will drop?

 

SG govt is very fair. There is no free meal in SG so ppl who want to drive than need to pay and bid for the limited resources.

 

 

I fully agree with you

[Fastfive1]

You mean asking for a fairer allocation of COE to reduce the rich-poor divide will make us become like North Korea?

 

It is your comment on exclusivity for the rich that make you sound elitist.

 

Like you I am against full loan to discourage over-stretching whether for rich or poor.

 

But you are also contradicting as capitalism advocates free market and discourages regulation, so full loan is the result of a capitalist system.

 

My point here is that the capitalist system will cause the rich and poor gap to widen especially when people are allowed to bid for the COEs.

I'm fine with this divide but not that extreme like North Korea.

It is pretty much a free market system.

People who can afford it will get what they want.

People who are unsuccessful will bid more for it.

Eventually the market reaches equilibrium. Invisible hand.....

The COE system is a fair one.

 

There is a reason why Lambos, BMW M series, Porsches, Aston Martins, Merc's AMG line exist.

It's to make the car exclusive to people who can afford it.

 

Well as long as there is a large degree of capitalism, isn't it still pretty much capitalism?

 

Anyway reducing the availability of credit is most probably unlikely though it is viable as Singapore prefers not to use the contractionary monetary policy.

 

[Maroon5]

Totally agree with you on this point. The fact that car loans are freely available at such a low interest rate is really harming this country especially when the world economy so volatile at the mo n singapore is exposed to it!!

 

I am waiting the days when the bubble burst , car price drop n people cant afford to service the loans..... History tend to repeat itself n we never learn :(

 

But than there is no reason for the gov to implement this as this high COE thingy is such a BIG income to them:(

 

there is liquidity and there is more liquidity. history is no longer relevant to the economic cycles we are seeing today.

bubbles could b part n parcel of living in our generation, if u get wat i mean.

[Warthog]

Complain is our national heritage.

 

Too cheap, too many car, we complain about traffic jams, high ERP.

Too expensive, we complain about price.

 

The poor complain about the rich and taxi companies. If you allow the majority to own cars, we have more problems.

 

There is a fixed number of cars that can ply our roads daily. Govt cannot decide who has the right. The family with many dependents or the busy outdoor executive or the rich. The rich and the executives who drive to work certainly do not choke up our roads except during peak hours. The middle-class have other harder choices - buses, taxis, etc. We need a solution for all, not just for the poor folks like us. Too bad, I just can't think of anything better than our flawed COE system which work best for national interest. Perhaps some fine tuning helps but so far the suggestions are all very self centered.