COE bidding - 2nd round of Feb 2017 delayed with change

[warriorck]

Sorry stupid question.. what does SE mean? I assume AD is authorised dealer?

[Sktan10]

2.18%. Is this good or bad?

I think should be quite good la!

Better than Kia.

[therock]

Sorry stupid question.. what does SE mean? I assume AD is authorised dealer?

 

AD = authorised dealer

SE = Sales engineer

 

Fancy name for a rep..

2.18%. Is this good or bad?

 

Pretty good in this current climate.

It was much higher for my car.

[Tianmo]

All those who call for calm and solidarity are reminding everyone not to succumb to their animalistic instincts of self preservation and survival of the fittest. We are humans and not animals and are capable of better things.

 

If everyone bid $10 and the quota is reached, just wait for next round. There is always public transport and U/G. Putting in additional $1 to make up $11 is just overpaying for $1. LOL.

 

 

in school, everyone try to do better and outdo everyone to be top in class, top in level, top in school. 

 

In army, everyone do their best to become must recruit, best PT, best marksman, best trainee. And then there is best section, best platoon, best company and best combat unit.

 

In work life, everyone try to outdo colleagues to be the best in the department, and then be the best in the industry. 

 

mayb those lagging behind are the humans, and those right there with the term "best" are animals. 

 

I think i have really wasted all my life, because i never knew how to be a human, I dont know how to slow down and wait. When my guys shout "front man slow down", my reply is always " back man catch up".     

 

So yah, i guess  the best deal is, I wait you wait everybody wait!!!     

[warriorck]

AD = authorised dealer

SE = Sales engineer

 

Fancy name for a rep..

 

 

Pretty good in this current climate.

It was much higher for my car.

Oh thks. Does the sales engineer refer to the sales rep at the AD? Or sales rep at car dealers?

[Jp66]

Oh thks. Does the sales engineer refer to the sales rep at the AD? Or sales rep at car dealers?

in general, they are called SE, be it AD or PI (parallel importer)

 

then there is SA (Service Advsior) who serves you when you send in your car for servicing

[AXS]

in school, everyone try to do better and outdo everyone to be top in class, top in level, top in school.

 

In army, everyone do their best to become must recruit, best PT, best marksman, best trainee. And then there is best section, best platoon, best company and best combat unit.

 

In work life, everyone try to outdo colleagues to be the best in the department, and then be the best in the industry.

 

mayb those lagging behind are the humans, and those right there with the term "best" are animals.

 

I think i have really wasted all my life, because i never knew how to be a human, I dont know how to slow down and wait. When my guys shout "front man slow down", my reply is always " back man catch up".

 

So yah, i guess the best deal is, I wait you wait everybody wait!!!

The scenarios painted are different from COE. You probably have only 1 shot to get top in class, 1 shot to get into good school, 1 shot to be best trainee, etc. For COE, there is always the next try. The COE I get today is no different from the COE I get the next day. If a person bids too high for a COE, it just shows that the person enjoys overpaying. One man's foolishness is another man's wisdom. I choose to be wise. :)

[Arch1984]

 

Hi Sktan10,

Thanks for sharing.

If we ignore the loan interest and assuming you got the same or better car in 2006 as the one you got in 2003 then certainly looks like quite a good deal.

If interest is included then doing the 2006 deal made the per year depreciation less rosy. But I guess still look quite reasonable.

Anyway, some math for those interested .

If I assume car loan interest rate is 2% flat. Then the total interest for the car you bought in 2003 = 2% * 6 * 48K = 5.76K; adding the upfront down payment of 20K and principle of 48K total would be = 73.76K if you have kept the 2003 car for 10 years. But since you sold in 2006 and you said you took back 11K then total you paid in the 3 years = 73.76K - 11K = 62.76K (hope I understood your number correctly).

For the car you bought in 2006 the total interest = 2% * 5 * 36K = 3.6K; adding the upfront down payment of 10K and principal of 36K - 1K (since you said the dealer gave you a 1K cheque) total would be = 48.6K.

Add the 2 total together meaning over a period of 13 years you paid 62.76K + 48.6K (ignoring what PARF value you will get back) = 111.36K. This would give a depreciation rate of 8.566K/year.

Now if you have stuck with your first car from 2003 to 2013 then over a period of 10 years you paid 73.76K (again ignoring what PARF value you will get back ... which should be about the same as the above case). This would give a depreciation rate of 7.376K/year.

So you would have paid less per year by sticking with the 2003 car all the way thru 10 years.

Now of course in your case you do get to enjoy driving a newer car from 2006 onward; so there is some intangible gain not figured in the math above.

That is why when CAT B COE is almost ZERO in early 2009 I decided to stick with my 2004 Odyssey instead of trading up to a new car. I remember then if I were to trade to a Toyota Picnic (inferior ride to an Odyssey) I would have paid 72K (I paid 122K for the Odyssey back in 2004). The per year depreciation from that point onward is still higher if I were to trade to a Toyota Picnic.

Sorry for the kill joy. Anyway, to each his own. I guess I am more of a number guy (engineer by training and profession ).

At the end of the day feel good and enjoy the ride which is financially affordable is really what matters. Each of us need to find the right balance somewhere. Enjoy.

Think sld minus 39k instead of 11k off the first car since the trade in value is 39k.

[Theoldjaffa]

I am glad you have attained it!

 

nirvana-in-the-buddhist-religion-state-ofpleasurable-annihil-religion-1367877057.jpg

 

 

Wait for the rest of us please....

This is the Nirvana that I have

 

[Vinceng]

I think it is difficult to see $40K COE so soon especially when everyone all behaves nervously. My belief has always been to remain calm and not react unnecessarily. Perhaps the last COE bidding exercise is a lesson for all.

 

No need to drop to $40K.

 

When COE drops to $45K, everyone will rush in to buy, like MacDonald's Hello Kitty frenzy.

 

Then demand will outstrip supply, and hello > $50+K COE.

 A bit too quick as I still have 5 months plus of life left in my current car. Anyone has past experience? Think KAH Motor willing to entertain delay taking delivery by a couple of months? 

 

From the moment your COE is secured, it is valid for 6 months.

 

So if you secured your COE in Feb 2nd bid, you can drag delivery of your new car till August.

All those who call for calm and solidarity in not bidding higher obviously do not have an inkling of human psyche. 

 

COE's open bidding system is aimed squarely at the part of human behaviour: self preservation and survival of the fittest. If everyone bid $10..... Near closing... Someone will break the line to bid $11 just to ensure he gets the COE. When the rest saw the line breaker took the first step,  all hell will break loose. 

 

 

The LTA loves this mentality

[merc280v6]

The scenarios painted are different from COE. You probably have only 1 shot to get top in class, 1 shot to get into good school, 1 shot to be best trainee, etc. For COE, there is always the next try. The COE I get today is no different from the COE I get the next day. If a person bids too high for a COE, it just shows that the person enjoys overpaying. One man's foolishness is another man's wisdom. I choose to be wise. :)

It is wise NOT to buy a new car if you think COE prices are too high (or out of reach) for your liking

[n2421241]

No need to drop to $40K.

 

When COE drops to $45K, everyone will rush in to buy, like MacDonald's Hello Kitty frenzy.

 

Then demand will outstrip supply, and hello > $50+K COE.

 

 

From the moment your COE is secured, it is valid for 6 months.

 

So if you secured your COE in Feb 2nd bid, you can drag delivery of your new car till August.

 

 

The LTA loves this mentality

I've purchased my new ride through BM , and also secured COE.

 

Can I also drag delivery of new car 6 months later? Thanks!

[Vinceng]

I've purchased my new ride through BM , and also secured COE.

 

Can I also drag delivery of new car 6 months later? Thanks!

 

Depends on the terms of the agreement that you signed.

 

When I booked my new car, I added in the clause, the month that I am agreeable to take possession of my new car, and had it counter signed by the Sales Manager.

 

Distributors have sales quota to meet, so there's no harm calling the shots on what you are comfortable with.

Edited February 26, 2017 by Vinceng

[therock]

I've purchased my new ride through BM , and also secured COE.

 

Can I also drag delivery of new car 6 months later? Thanks!

Then you need a new COE..

First it lasts only a max of six months.

Second, your rep will want to register and sell it to clear his number quota.

Maybe a month or so, that's it for such a car.

If you order from the conti marques, they might be more willing to listen and let you keep it there for longer..

[Nutty]

In army, everyone do their best to become must recruit, best PT, best marksman, best trainee. And then there is best section, best platoon, best company and best combat

 

Boh Ley...

 

In the army, I also observed people fighting to be chao keng king.

 

I know of someone who downgraded, but when he played football, he can cheong like Steven Jialat in his prime.

Edited February 26, 2017 by Nutty

[Pocy]

The scenarios painted are different from COE. You probably have only 1 shot to get top in class, 1 shot to get into good school, 1 shot to be best trainee, etc. For COE, there is always the next try. The COE I get today is no different from the COE I get the next day. If a person bids too high for a COE, it just shows that the person enjoys overpaying. One man's foolishness is another man's wisdom. I choose to be wise. :)

IMHO you should share here your wise strategy.

 

When is the timing you are planning to get your COE? If cannot get your COE before your current ride EOL, what is your next plan? BTW when is your current ride EOL?

[Sktan10]

I've purchased my new ride through BM , and also secured COE.

 

Can I also drag delivery of new car 6 months later? Thanks!

 

 

I don't think so.Now second hand car depreciate around 10 to 12k per year.

If your old car delay for 6 mths,I think the value also lost 5 to 6k.Unless you are ok with it.

[Tianmo]

Boh Ley...

 

In the army, I also observed people fighting to be chao keng king.

 

I know of someone who downgraded, but when he played football, he can cheong like Steven Jialat in his prime.

According to some wise theory, those are the wise human lor. Kiang lang you know.