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Will used car price drop after 33% increment of COE in May?


Guanleng
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I guess you never been through the 90's. More or less the same sh*t is happening now, except there is zero growth and tighter loan rules.

 

 

 

Back then, a Corolla cost >100k and people bought them too.

 

Then COE premiums dived, and Altis became $50k. Nobody would believe people actually paid $100k for a Japanese BB car.

 

COE skyrockets again and now people think a Corolla at $100k or lower looks like a steal.

 

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give LTA a Beer .... Corona
nabei ... the writer suggesting to reduce the loan restriction for used car to bring car price down?
what the hell is he smoking? the reason why used car dealer price their car high is not because of used car loan restriction ... it's new car loan restriction ... used car loan already gone cowboy rule for 70-80% loan liao
no matter what loan for used car ... used car dealer will price the used car benchmark new car price ...

i wonder what is the writer IQ?

https://sg.news.yahoo.com/bring-coe-prices-down-235724763.html

post-7984-0-32551400-1430191295_thumb.jpg

Edited by Wt_know
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Waaa his IQ hit 300

 

give LTA a Beer .... Corona

nabei ... the writer suggesting to reduce the loan restriction for used car to bring car price down?

what the hell is he smoking? the reason why used car dealer price their car high is not because of used car loan restriction ... it's new car loan restriction ... used car loan already gone cowboy rule for 70-80% loan liao

no matter what loan for used car ... used car dealer will price the used car benchmark new car price ...

 

i wonder what is the writer IQ?

 

https://sg.news.yahoo.com/bring-coe-prices-down-235724763.html

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this statement already show how high is his IQ

 

1. borrow 90% ... is this a good financial prudence?

 

2. borrow 90% does not mean the Teana is going to be cheap because used car dealer will price it simialr to new car price depreciation ... beside used car dealer already offer up to 70-80-90% loan now ... what is he toking?

 

3. old car new car simi car also need coe. when this old car is sold ... used car dealer need stock from somewhere either from AD makan old car while selling new car. this will push up new car coe bidding too.

 

the writer is siao ... thinking selling old car does not push demand for new car ... which push the demand for coe

has he forgotten where the used car come from? used car come from new car ... lol

 

the only way to drive demand for used car is to DELINK the price of used car to new car

 

If you could borrow, say, up to 90 percent of the price of a three year-old Teanna over seven years, you might well skip that trip to the Nissan dealer and shop at the used car marts instead.
Edited by Wt_know
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give LTA a Beer .... Corona

nabei ... the writer suggesting to reduce the loan restriction for used car to bring car price down?

what the hell is he smoking? the reason why used car dealer price their car high is not because of used car loan restriction ... it's new car loan restriction ... used car loan already gone cowboy rule for 70-80% loan liao

no matter what loan for used car ... used car dealer will price the used car benchmark new car price ...

 

i wonder what is the writer IQ?

 

https://sg.news.yahoo.com/bring-coe-prices-down-235724763.html

 

Yes, I also wonder what's the writer IQ.

 

The way to bring down the used car price is to tighten loan restriction on used car loan. For example tied the maximum loan to maybe 1.5x the Scrap Value / Paper Value of the used car.

 

Currently, used car buyers are in a very dangerous position when unfortunate events happened and the car need to be write off. They will be left without a car and yet still need to pay instalment or pay a lump sum to the bank as the paper value / scrap value of the car provided by the insurance companies are not enough to clear to loan.

 

By doing what I suggested, not only the used car price will drop, the COE will also drop. This will also mean a drop in the revenue collect by LTA too and affect their KPI.

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well said. what kind of writer suggest 90% loan over 7 years for a 3 years old car

more like suicide loan

Edited by Wt_know
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I have not heard this was implemented ....... This was implemented as CM for property only

 

the CM for car only handled the 40-50% loan + 5 yr loan period

 

See how elite is our Elite .......... in the old days ... all of them would need to harakiri or "浸猪笼" for the chinese [shakehead]

 

 

a 2.5 yrs old vios was traded in at 75k by someone..... ( Got so high meh ? hahaha I thought much lower. on paper dep at 10k per ann ... )

last 2 yrs plus the coe was sky high, being traded in at that price is definitely very low, the fellas asking selling price is around 90+ k......

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give LTA a Beer .... Corona

nabei ... the writer suggesting to reduce the loan restriction for used car to bring car price down?

what the hell is he smoking? the reason why used car dealer price their car high is not because of used car loan restriction ... it's new car loan restriction ... used car loan already gone cowboy rule for 70-80% loan liao

no matter what loan for used car ... used car dealer will price the used car benchmark new car price ...

 

i wonder what is the writer IQ?

 

https://sg.news.yahoo.com/bring-coe-prices-down-235724763.html

 

Whoever wrote this must be a foreign Indian chief. Whoever wrote it and is here wake up your idea. Just becoz you come from a big western country and have study economics that doesn't make you a policy expert here.

 

The local government created COE as a tool to control vehicular population, it's not a tool to help ppl own a car or two. If you think "control" is very un-democratic you are not wrong. If you still think Singapore is a democratic society it's time to wake up and smell the coffee. The intention though not very obvious is that the government wants ppl to take public transport, not own a car. Singapore is small with limited road infrastructure it can only hold so many vehicles. You won't want your car to be stuck in a jam for hours anyway.

 

So shut dup and stop discussing on COE prices if you dunno jack. Local ppl had already screw it up recently thinking they are smart also, suggesting all kinda ideas to help themselves own a car.

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Yes, I also wonder what's the writer IQ.

 

The way to bring down the used car price is to tighten loan restriction on used car loan. For example tied the maximum loan to maybe 1.5x the Scrap Value / Paper Value of the used car.

 

Currently, used car buyers are in a very dangerous position when unfortunate events happened and the car need to be write off. They will be left without a car and yet still need to pay instalment or pay a lump sum to the bank as the paper value / scrap value of the car provided by the insurance companies are not enough to clear to loan.

 

By doing what I suggested, not only the used car price will drop, the COE will also drop. This will also mean a drop in the revenue collect by LTA too and affect their KPI.

Is revenue part of their kpi? Thought lta is supposed to be npo? Sorry I'm a nube.

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Turbocharged

 

Whoever wrote this must be a foreign Indian chief. Whoever wrote it and is here wake up your idea. Just becoz you come from a big western country and have study economics that doesn't make you a policy expert here.

 

The local government created COE as a tool to control vehicular population, it's not a tool to help ppl own a car or two. If you think "control" is very un-democratic you are not wrong. If you still think Singapore is a democratic society it's time to wake up and smell the coffee. The intention though not very obvious is that the government wants ppl to take public transport, not own a car. Singapore is small with limited road infrastructure it can only hold so many vehicles. You won't want your car to be stuck in a jam for hours anyway.

 

So shut dup and stop discussing on COE prices if you dunno jack. Local ppl had already screw it up recently thinking they are smart also, suggesting all kinda ideas to help themselves own a car.

I'm sure Mr. Leow Ju-Len would be impressed to be referred to as a "foreign Indian chief"

 

To the very best of my knowledge he is a true blue pinky....

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well said. what kind of writer suggest 90% loan over 7 years for a 3 years old car

more like suicide loan

 

I think it was because some years back people could actually loan a large amount for cars over 10 years that's why he came up with such an idea. [laugh]

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Whoever wrote this must be a foreign Indian chief. Whoever wrote it and is here wake up your idea. Just becoz you come from a big western country and have study economics that doesn't make you a policy expert here.

 

The local government created COE as a tool to control vehicular population, it's not a tool to help ppl own a car or two. If you think "control" is very un-democratic you are not wrong. If you still think Singapore is a democratic society it's time to wake up and smell the coffee. The intention though not very obvious is that the government wants ppl to take public transport, not own a car. Singapore is small with limited road infrastructure it can only hold so many vehicles. You won't want your car to be stuck in a jam for hours anyway.

 

So shut dup and stop discussing on COE prices if you dunno jack. Local ppl had already screw it up recently thinking they are smart also, suggesting all kinda ideas to help themselves own a car.

 

just want to say something about the part in red, the govt said it is to control population, but really it is just another brilliant tool of revenue collection.

 

If really really want to control car population, there are other ways which does not involve money. Then we will believe you(the govt).

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every dollar $ is KPI

you think PG card and benefits drop from sky?

look at the budget explanation ... revenues collected from property and transportation jin ho jiak ...

 

Is revenue part of their kpi? Thought lta is supposed to be npo? Sorry I'm a nube.

 

Edited by Wt_know
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Mostly used cars price will increase, especially those high end car...good for selling and buying....COE increase doesn;t mean price reduced for new car but more taxes on new car....

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just want to say something about the part in red, the govt said it is to control population, but really it is just another brilliant tool of revenue collection.

 

If really really want to control car population, there are other ways which does not involve money. Then we will believe you(the govt).

 

so, in what ways do you suggest?

 

you think build MRT tunnel free? maintain traffic lights and street lights free?

 

re-surface the road every few years also free? maintain the tree free also? maintain the speed camera catch me speeding also need money.

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