Jump to content

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


wdldalian
 Share

Recommended Posts

 

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.

 

 

 

Agree.Time for those 60 to 70k coe guy enter.

They will be like what I do in 2006,because their paper value is high.They got the advantage.

↡ Advertisement
Link to post
Share on other sites

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

 

Hi Arch1984,

 

You got a point there that the trade in value of 39K seems to have gone missing in my calculation.

 

When SKtan10 noted that he got back 11K, I took it to mean that when he redeemed his 6-year flat rate loan early he ended up paying 11K less than what he would have to pay if the loan were not redeemed earlier. So total he ended up paying for his 2003 car = 20K (down payment) + 48K (loan principle) + 48K * 2% * 6 (total interest for 6-year) - 11K (amount he got back when redeeming the loan earlier) = 62.76K.

 

When he purchase his 2006 car at 46K and traded in his old car at 39K he mentioned he paid 10K down payment and then take 36K loan for 5 year. Now I think about it this math does not make sense as 46K - 39K is only 7K ... Unless he was cashing out and the 36K loan money went to him to put in the bank or other use (i.e. Not to pay the car dealer). In which case a further 36K would have to be deducted from the total amount which would then = 111.36K - 36K = 75.36K over 13 years = 5.80K/year depreciation ... A very good deal indeed.

If this is the case then I stand corrected.  :a-whiteflag:

Link to post
Share on other sites

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?

LOL. I hope there is no sarcasm involved in your question.

 

My strategy :

 

1. Plan ahead. Start looking for a new ride 3 years before current ride EOL.

 

2. Sign up for non-guaranteed bid ride. Try to find a reputable AD / PI who is willing to give a low price at a certain low level of COE. For non-guaranteed COE, it is in the interest of the AD / PI to bid as low as possible to get maximum profit. If there is an economic crisis or increase in COE quota, chances of getting the COE is high.

 

3. Take public transport or U/G if new ride still unavailable on current ride EOL.

 

If everyone did this I am confident COE prices will stay low.

Link to post
Share on other sites

Engineer mah. Must calculate and re-calculate :XD: .

 

But also must strike balance with the intangible lah ... Like enjoying a new car. That is why this round I finally decided to spring for a new Honda Odyssey after driving a second hand Nissan Presage for the last 3 years+ (Decided against getting a new car then when COE was in the 80K to 90K range in 2013 ... which turned out to be a good decision).

 

Some more this round spooked by the COE uncertainty and upgraded to guaranteed COE last Sunday. We now know that is really quite unnecessary. Now one shot tio liao. 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?  [:p]

Because your 2004 Odyssey's margin was $10-15k.

COE saving was only $10k.

If you scrap and buy new, AD profit the COE saving. You proof it from your calculation.

 

For my case, My 2004 Sunny's margin was only $6-8k.

COE saving was $12k. 

And I "upgraded" from Cat A to Cat B.

[drivingcar]

Link to post
Share on other sites

Hi Arch1984,

 

You got a point there that the trade in value of 39K seems to have gone missing in my calculation.

 

When SKtan10 noted that he got back 11K, I took it to mean that when he redeemed his 6-year flat rate loan early he ended up paying 11K less than what he would have to pay if the loan were not redeemed earlier. So total he ended up paying for his 2003 car = 20K (down payment) + 48K (loan principle) + 48K * 2% * 6 (total interest for 6-year) - 11K (amount he got back when redeeming the loan earlier) = 62.76K.

 

When he purchase his 2006 car at 46K and traded in his old car at 39K he mentioned he paid 10K down payment and then take 36K loan for 5 year. Now I think about it this math does not make sense as 46K - 39K is only 7K ... Unless he was cashing out and the 36K loan money went to him to put in the bank or other use (i.e. Not to pay the car dealer). In which case a further 36K would have to be deducted from the total amount which would then = 111.36K - 36K = 75.36K over 13 years = 5.80K/year depreciation ... A very good deal indeed.

If this is the case then I stand corrected.  :a-whiteflag:

You and bro Arch1984 really very detail in calculation,thumb up.

For me,i m more simple.Like bro coltplussport said,46k new car vs 39k 3yrs old car.I can chose a better car with more loan or down payment.But I chose a BB car again and reduce my loan for another 1yr yet installment still cheaper by a lot.

Link to post
Share on other sites

LOL. I hope there is no sarcasm involved in your question.

 

My strategy :

 

1. Plan ahead. Start looking for a new ride 3 years before current ride EOL.

 

2. Sign up for non-guaranteed bid ride. Try to find a reputable AD / PI who is willing to give a low price at a certain low level of COE. For non-guaranteed COE, it is in the interest of the AD / PI to bid as low as possible to get maximum profit. If there is an economic crisis or increase in COE quota, chances of getting the COE is high.

 

3. Take public transport or U/G if new ride still unavailable on current ride EOL.

 

If everyone did this I am confident COE prices will stay low.

In the event of an economic crisis, many ppl would be hard hit and probably you too.
  • Praise 5
Link to post
Share on other sites

wah lao...don't bully peasants lah

 

 

i also waiting for low coe to change car hor...

 

:mellow:

 

 

u need this

 

landscapebackto.jpg

  • Praise 1
Link to post
Share on other sites

AD = authorised dealer

SE = Sales engineer

 

Fancy name for a rep..

 

Pretty good in this current climate.

It was much higher for my car.

 

 

I thought SE = sales Executive 

  • Praise 1
Link to post
Share on other sites

Engineer mah. Must calculate and re-calculate :XD: .

 

But also must strike balance with the intangible lah ... Like enjoying a new car. That is why this round I finally decided to spring for a new Honda Odyssey after driving a second hand Nissan Presage for the last 3 years+ (Decided against getting a new car then when COE was in the 80K to 90K range in 2013 ... which turned out to be a good decision).

 

Some more this round spooked by the COE uncertainty and upgraded to guaranteed COE last Sunday. We now know that is really quite unnecessary. Now one shot tio liao. 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?  [:p]

 

 

Another new Odyssey owner!! hi bro, welcome to the Ody "club" and forum!

 

you will be heartened to know that ody prices went up by $4k even though Cat B increase by only $2.4k  

 

 

 

 

delay registration might be possible, hope they are able to help you out with it! 

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...