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


Guanleng
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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......

 

90K ??? ask him go die better .

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How about tagging the COE to the owner rather than the car ? Buy used car must bid for COE. The problem though is then who is going to manage those used cars without COE ? Or you must wait for buyer to bid for his COE before you can sell him your car, then you buy your own car. I think the overall process can be very slow and complicated.

 

 

 

 

Cannot tie to owner lel , like that how to sell the car ? It also doesnt show the true car number on road this way.

 

for used car sitting with dealers , not on road , in such case COE go back to pool. So we will always true number of car on road.

 

dealer should not be trading coe (via used car) , they should work on car price only. true?

 

Whenever selling a used car , either dealer or buyer can bid for the COE . COe always come in 10years ... after which during actual transaction , prorate the year to the car remaining yrs.

 

All car should have a unique reference number . COE is just a license and shld not be used to refer to a car.

 

administration of COE will not have much change. Just that there will be more bids from used car section.

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new car used car simi car also need coe

as long as there is a NEED for coe ... huat ah!

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Last night I checked Toyota price: The rebate for the Cat A non guaranteed was $54K.

Today's price list showing rebate $55K w.e.f. 28 Apr 15.

 

So, I guess bookings have gone up and COE likely to stay flat or rise a bit,,,,,,,,

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Last night I checked Toyota price: The rebate for the Cat A non guaranteed was $54K.

Today's price list showing rebate $55K w.e.f. 28 Apr 15.

 

So, I guess bookings have gone up and COE likely to stay flat or rise a bit,,,,,,,,

Non guaranteed 6 bids? Perhaps coe may dip to near 55k then by Aug.

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A 54k Rebate simply means that the dealer will bid at least 54k for the buyer. You cannot use that to predict the coe prices..

Last night I checked Toyota price: The rebate for the Cat A non guaranteed was $54K.

Today's price list showing rebate $55K w.e.f. 28 Apr 15.

 

So, I guess bookings have gone up and COE likely to stay flat or rise a bit,,,,,,,,

 

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Turbocharged

A 54k Rebate simply means that the dealer will bid at least 54k for the buyer. You cannot use that to predict the coe prices..

 

 

Jus checking but I want to ask, it also means that if by some miracle COE closing bid end up lower than COE rebate level means they return us the difference?

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Jus checking but I want to ask, it also means that if by some miracle COE closing bid end up lower than COE rebate level means they return us the difference?

Yes, if the coe is $50k and rebate $55k, they will refund the different of $5k to you.

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Yes. They will make sure it will not happen. When they sell a car for let's say 100k, they already factor in a 60k coe bid. So they will bid at least very close to 60k for you. Powerful ADs are able to influence the bid level.

 

Jus checking but I want to ask, it also means that if by some miracle COE closing bid end up lower than COE rebate level means they return us the difference?

 

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Jus checking but I want to ask, it also means that if by some miracle COE closing bid end up lower than COE rebate level means they return us the difference?

 

Yes.

 

But chance of that is lower than tio 4D lor.

 

Since the dealer knows that rebate is 54k and anything lower, they wont keep the profit but have to return to you, they will just bid for _more_ COEs (assuming they have orders on hand) until at least 54k .

 

Since most of the larger dealers have backlog of orders, you really need a miracle for them to run out of orders before they bid up to the rebate level.

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A 54k Rebate simply means that the dealer will bid at least 54k for the buyer. You cannot use that to predict the coe prices..

 

 

I got these info from one motoring site.

 

For Altis 1.6 in Mar 15 LTA data.

Basic Cost without COE: $35,332 ( OMV, GST, CEVS, REG, ARF, …)

COE: $61,410 ( Mar 15, first bidding )

Dealer Selling Price: $113,888

Dealer profit: $17,146

 

Current List Price for Altis: 119, 888 ( SG carmart info at 29 Apr)

Assume deductions of 5K, it will bring selling price to around Mar 15 level.

 

Hence, I speculate that COE will hover around above 60K – 63K range.

Hence, also speculate that dealer builds in about 7K above the rebate level, into the selling price.

 

How’s my speculation?

 

BTW, I read this thread wrongly, now then realised it is about USED car.

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I highly doubt used car prices would drop. People try to own cars even if they can barely afford it. Look at the number of luxury cars that got repossessed.

 

http://www.sgcarmart.com/used_cars/listing.php?DL=508

http://www.sgcarmart.com/used_cars/listing.php?DL=507

 

This is just the tip of the ice berg. There are still many car owners who try various ways and means of cutting corners when it comes to car maintenance. The used car market now merely helps these people who can't afford the 50% downpayment on a new car. It amazes me that people still have the nerve to go to the dealer to ask for 80% loan. Are you f**king kidding me?

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A good example of a car that a broke ass person used to own.

 

http://www.sgcarmart.com/used_cars/info.php?ID=473447&DL=509

 

Headlights are scratched and faded, fake rays sports rims with hardly any thread left on the tires, front and rear seats don't match, stereo has been ripped out. The owner is a disgrace. Want to own sports car but can't afford installments until must take out the stereo and sell. Probably just enough to pay for this petrol.

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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

The writer's idea is not wrong, but the assumption that high COE is LTA's key concern is.

 

Why should LTA care if demand based on certain COE quota dictates a certain $ value, other than political repercussions.

 

Of course, I do feel for small businesses and bikers... This is the only part that needs major tweaking.

 

For families requiring cars/transport, there are many good car sharing/ rental scheme around.

 

For people who can afford the luxury of car ownership, price does not matter. To hell with cat A and B Coe prices

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1. the idea of taking 90% loan for 7 years for a 3 years old car is dead wrong

 

2. by expanding the loan quantum for used car does not make used car cheaper. it probably make it even more expensive because more people will want to get a used car with salary $3k can afford with 90% loan.

 

3. used car dealer main objective is to chop robert ... nothing is going to bring the car price down.

 

4. sale of used car does not drive the demand for coe is also dead wrong. when used car inventory is low, they will offer higher price for trade in ... that's how AD makan trade in car with unbelievable overtrade and then sell the used car through their sister companies or used car dealer in their network

 

coe > new car price > used car price > coe > new car price > used car price > it's a vicious cycle

 

The writer's idea is not wrong, but the assumption that high COE is LTA's key concern is.

 

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

 

 

But you can't delink it. After all the link is not an official link rather a normal human behaviour exercising alternative considerations. It's basic supply/demand economics.

 

For example, if in order to drive up the demand for used car, price of used cars were reduced significantly then current owners of cars will not want to sell their cars to the used market (due to the low price) causing a shortage of supply. With this low price, demand for used cars will face upward pressure. This low supply/high demand environment will naturally cause price of used cars to go up (much like how new iphones can be sold at above RRP when launched).

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1. the idea of taking 90% loan for 7 years for a 3 years old car is dead wrong

 

2. by expanding the loan quantum for used car does not make used car cheaper. it probably make it even more expensive because more people will want to get a used car with salary $3k can afford with 90% loan.

 

3. used car dealer main objective is to chop robert ... nothing is going to bring the car price down.

 

4. sale of used car does not drive the demand for coe is also dead wrong. when used car inventory is low, they will offer higher price for trade in ... that's how AD makan trade in car with unbelievable overtrade and then sell the used car through their sister companies or used car dealer in their network

 

coe > new car price > used car price > coe > new car price > used car price > it's a vicious cycle

 

 

My statement may have been too brief.. I meant the writer proposing a 'maverick', or a real alternative to new car ownership to reduce COE prices is a positive one.

 

The rest of the text remains to realized, and your points at this moment makes more sense.

 

The real alternative is the toughest part, but if New York and Hong Kong can do it, the only remaining puzzle is smart governance. So there

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