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

[Vinceng]

There will be a guaranteed massive supply of COEs in 2021, as these five year extensions are non renewable.

 

By then, satellite based ERP will be in place. Also remains to be seen if LTA decides to hold back some COEs for the drought years.

[plim8888]

http://www.straitstimes.com/singapore/transport/coes-extended-for-record-number-of-vehicles

 

 

 

We may see more breakdowns, and cars with battery issues that we have never seen before?

Exploding old batteries?

Leaks?

 

Interesting article from the Straits Times today.

 

For a regular type of car (which has sizable PARF rebate value) you really only get saving if you renew your COE for 10 years. If renewing for 5 years the loss of PARF rebate is amortized over a shorter period and you end up actually paying more per year than if you were to buy a new car ... Unfortunately this means you must really ensure that old car can last another 10 years before deciding to forego your PARF rebate.

 

Now for car with lots of CEV subsidy (meaning PARF rebate is very low) then it makes more sense to perhaps consider renewing for 5 year. Per my knowledge these are generally the hybrid cars.

 

Just my 2 cents'.

[L23]

There will be a guaranteed massive supply of COEs in 2021, as these five year extensions are non renewable.

 

By then, satellite based ERP will be in place. Also remains to be seen if LTA decides to hold back some COEs for the drought years.

By then Uber will have learned enough of our COE and transport system, hence they will acquire more vehicles and stock pile them in our shopping mall, further depriving the poor from buying car.

 

More COE demand is expected in 2021. So better buy now.

 

 

 

 

 

How's my sales pitch compared to your 1000 attrage and motor show back log stories ?

[Hosaybo]

With so many renewal, esp the 5 years one, it is good for the supply 5 years later which is the start of the low supply era.

 

May $$$ money $$$ sense to sustain at this level cos it helps to solve the drought problem and at the same time, ring the cash register!

[mcflhw]

By then Uber will have learned enough of our COE and transport system, hence they will acquire more vehicles and stock pile them in our shopping mall, further depriving the poor from buying car.

 

More COE demand is expected in 2021. So better buy now.

 

 

 

 

 

How's my sales pitch compared to your 1000 attrage and motor show back log stories ?

Uber buying of new car is not endless, now they have enough stock already, maybe still getting some plate s, but won't push coe to a high level.

[13177]

Interesting article from the Straits Times today.

 

For a regular type of car (which has sizable PARF rebate value) you really only get saving if you renew your COE for 10 years. If renewing for 5 years the loss of PARF rebate is amortized over a shorter period and you end up actually paying more per year than if you were to buy a new car ... Unfortunately this means you must really ensure that old car can last another 10 years before deciding to forego your PARF rebate.

 

Now for car with lots of CEV subsidy (meaning PARF rebate is very low) then it makes more sense to perhaps consider renewing for 5 year. Per my knowledge these are generally the hybrid cars.

 

Just my 2 cents'.

By right if you think hard enough, renew coe for 5 years confirmed doesnt really worth it lo. 

[merc280v6]

http://www.straitstimes.com/singapore/transport/coes-extended-for-record-number-of-vehicles

 

 

 

We may see more breakdowns, and cars with battery issues that we have never seen before?

Exploding old batteries?

Leaks?

The increased revalidation of COE cars is an expected, painful, but needed phase ... as marginal owners cling on to their priced asset of a car - gotten el cheapo when COEs were <$15K in last decade.

 

They are literally checkmated, as far as new replacement cars are concerned. Revalidation, depending on their existing car, may prove more viable than buying a used car - when the used car Beng dealers are asking for $11-12K pa depreciation, or higher!

 

Their last recourse, short of switching to public transport (aka BMW), would be the less-painful route of revalidation ... buying them another 5-10 years lease of car-life.

 

But just like chemotherapy for cancer patients, this will be at best, a transient solution for them to cling on to their car for dear life. There will come a time when they will need to, inevitably, go car-less ... unless, their fortunes change over the next decade ... but then again, we will ALL be 10 years older with potentially more health issues and the fast-narrowing options for upward mobility in our careers

Edited February 28, 2017 by merc280v6

[Vinceng]

By right if you think hard enough, renew coe for 5 years confirmed doesnt really worth it lo.

But the sweet spot is the low cash / loan outlay.

 

If you take the annual dep, PARF forgone, 50% road tax surcharge, annual inspection, wear and tear parts replacement into consideration , ..... The annual cost is similar to that of a brand new bread and butter car.

[Heartlander]

There will be a guaranteed massive supply of COEs in 2021, as these five year extensions are non renewable.

 

By then, satellite based ERP will be in place. Also remains to be seen if LTA decides to hold back some COEs for the drought years.

Is 44k renewals of COE considered massive? If true, then would be another factor for me to consider.

 

Just redeemed the loan on my 3 year old ride after finding out the reality of yucky resale value of high COE ride. Now patiently waiting for the right time to make the move while enjoying the feeling of being loan-free, haha.

 

But sad to say, nowadays getting car fatigue similar to handphone fatigue - all riders look similar to me thus no longer excited about certain model. Unless I got rich suddenly....

[Johnnylim]

http://www.straitstimes.com/singapore/transport/coes-extended-for-record-number-of-vehicles

 

 

 

We may see more breakdowns, and cars with battery issues that we have never seen before?

Exploding old batteries?

Leaks?

Errr....y exploding old batteries? I tot no matter old or new cars, batteries still need to change when the lifespan is up?

[therock]

Errr....y exploding old batteries? I tot no matter old or new cars, batteries still need to change when the lifespan is up?

 

 

People who extend COEs are less likely to want to spend $$ buying new hybrid batteries, that will cost thousands...

They want to save as much as they can.

Of course someone will retort that they extend because they like the car, it's rare etc etc.

But the majority are doing it to save.

[Enye]

Is 44k renewals of COE considered massive? If true, then would be another factor for me to consider.

 

Just redeemed the loan on my 3 year old ride after finding out the reality of yucky resale value of high COE ride. Now patiently waiting for the right time to make the move while enjoying the feeling of being loan-free, haha.

 

But sad to say, nowadays getting car fatigue similar to handphone fatigue - all riders look similar to me thus no longer excited about certain model. Unless I got rich suddenly....

 

not car fatigue...just not that many exciting options in the big MPV space

 

[Showster]

The increased revalidation of COE cars is an expected, painful, but needed phase ... as marginal owners cling on to their priced asset of a car - gotten el cheapo when COEs were <$15K in last decade.

 

They are literally checkmated, as far as new replacement cars are concerned. Revalidation, depending on their existing car, may prove more viable than buying a used car - when the used car Beng dealers are asking for $11-12K pa depreciation, or higher!

 

Their last recourse, short of switching to public transport (aka BMW), would be the less-painful route of revalidation ... buying them another 5-10 years lease of car-life.

 

But just like chemotherapy for cancer patients, this will be at best, a transient solution for them to cling on to their car for dear life. There will come a time when they will need to, inevitably, go car-less ... unless, their fortunes change over the next decade ... but then again, we will ALL be 10 years older with potentially more health issues and the fast-narrowing options for upward mobility in our careers ðð¼

 

So how long more want to wait? 10 years, plus yet another 5-10 more? Just like people camping for property right?

As you age, the opportunity cost of desiring that quality of life gets more costly!

 

While waiting for the 'golden' opportunity to get your dream private property, or a spanking new car, you could have aged another 1-2 decades, leaving only what's left to your very own EOL ð

 

Worse still will be your family - children ... deprived of the quality of life that that so deserve ... earlier, rather than later, in their lives!

Very exaggerating.

 

Got car already very good, still need to pamper the already spoilt kids with dream car?

 

Not everyone has the backside to appreciate the difference, which is further marked up by the tax structure.

 

My feel is if save 50 to 100k for 10 years can afford to drive for another 10 more, even if not luxury or new car.

[Friendstar]

By right if you think hard enough, renew coe for 5 years confirmed doesnt really worth it lo.

Renew cars with 5k ARF lor.

[flashbang]

The reality is there will always be a group of marginal buyers. These are the guys on 10 year loans when they bought in 2006-2009. If their buying power did not increase, they have difficulty buying brand new cars now.

[AcuraNSX]

Here's the consolidated feedback I got from some SE, on whether to commit this weekend before Monday's announcement, or to wait and see.

 

- This round bidding COE will sure go up due to many back log from Motor Show and record orders after last round COE bidding

- Very unlikely COE will drop

- High risk to wait. Better to secure at low price now after the fall during last COE bid

- Uber and Grab are entering their bids. Their car stocks have arrived in Singapore

 

The usual SE song. Always saying COE won't go down one.

[AcuraNSX]

Interesting article from the Straits Times today.

 

For a regular type of car (which has sizable PARF rebate value) you really only get saving if you renew your COE for 10 years. If renewing for 5 years the loss of PARF rebate is amortized over a shorter period and you end up actually paying more per year than if you were to buy a new car ... Unfortunately this means you must really ensure that old car can last another 10 years before deciding to forego your PARF rebate.

 

Now for car with lots of CEV subsidy (meaning PARF rebate is very low) then it makes more sense to perhaps consider renewing for 5 year. Per my knowledge these are generally the hybrid cars.

 

Just my 2 cents'.

 

Good observation. When you take the plunge to renew COE, you forgo PARF value straightaway.

 

So spreading out that loss over (a potential) 10 years makes more economic sense than 5 years.

 

If you have already decided to renew COE, and have the cash upfront, do a 10 instead of 5 year renewal. If in the end you only drive it for 5 more years and it becomes totalled, it's still ok, you get back the prorated remainder of the PQP paid. No 'loss' to you in that sense. 25k is also not a huge amount in terms of putting into high yielding alternative investments.

 

But if your COE car lasts for longer than 5 years, in the sense you 'gain' by having spread your PARF value forgone over a longer period.

[mcflhw]

The usual SE song. Always saying COE won't go down one.

This song is always singing in mcf,maybe forever, we just listen and ignore, coe will go to follow it's own curves.