COE Bidding – 2nd Round of April 2017

[JakeSwft]

I booked my car around the same time as you on the 28 jan. Got my coe on the 1st bid of april and got my car last week.Car was delivered to me within 5 days of making final payment. I think you should get the chassis number from your PI and make another trip to your PI showroom again to verify the chassis number tally with what they give you.

 

In my agreement there is a expected delivery date indicated so they will have to meet it.

 

The deposit of 10k your PI has already paid to LTA and it is non-transferable under your name.You can look for other PI to just buy the car without coe but you may need to forfeit the 5k car deposit you have already paid to your PI.

that is correct bro, im saying that to soonheng bro, if agreement states delivery date and they fail to uphold its a breach of agreement.

 

soonheng bro,

in any case check your pm

[Snowman16]

not the cheapest price but was introduce by my friend so i went down lo. thats the problem. wanted to actually show some unhappiness towards the pi but scare is they suddenly dun wan the deal den my deposit fly away

You only pay 10k for the deposit right? If yes you are safe as coe is under your name.

[Snowman16]

that is correct bro, im saying that to soonheng bro, if agreement states delivery date and they fail to uphold its a breach of agreement.

 

soonheng bro,

in any case check your pm

Ya i was wondering whether did his agreement state it. If no indication will be very hard to justify the delivery date.

[Vinceng]

Read enough horror stories of purchases from Parallel Importers (PIs).

 

If it’s too good to be true, it probably is!

 

Save yourselves a potential heart attack, and

 

1)      Purchase from reliable PIs. Their vehicles may not be the cheapest, but you know you will get your car eventually

 

2)      Purchase from Authorised Distributors. Not necessarily more expensive than PIs, as profit margin have dropped. Profit margins can be as low as $5,000 for a bread and butter saloon. Distributors are not stupid either, they will make money from the oil change and servicing. 

[Gnomish]

What actions can we take if the agreement stated an estimated delivery date but the pi still cannot deliver the car after this date has passed?

[Yeobt]

Not sure is heng or sway leh.. coz coe is expected to drop to $10k levels for cat c.

 

Cat C is transferable so u can sell it off but take note validity is only 3 mths.

 

bro, care to share how you expected the cat C to drop to $10k?

everytime i see a dropped in COE, ppl rushed in and the price surge back to even higher. 

[Alheych]

Hello Hsien Loong,

 

With your > SGD 2 million annual salary, I think a commercial van is the last thing on your mind. 

 

Very humble of you to consider this option. 

 

https://youtu.be/lBARwr_DBM4

 

they indeed use vans, though not commercial...

 

https://youtu.be/xIi13tHwKeI

[Dilemma]

bro, care to share how you expected the cat C to drop to $10k?

everytime i see a dropped in COE, ppl rushed in and the price surge back to even higher. 

 

Number of COE for cat c increase by 6 folds. that's about 300+ per month to 2000+ per mth. What makes you think anyone will still bid at $26k?

[Leo22]

bro, care to share how you expected the cat C to drop to $10k?

everytime i see a dropped in COE, ppl rushed in and the price surge back to even higher.

My take is, the situation you quoted happens during normal small adjustment, e.g. +/- a few k without much reason for that month.

Situation for CatC here is mass disruption to the norm. E.g. PH come in continue buy in bulk, Tsunami... etc. the Impact is longer term.

Just my $0.02

[Philipkee]

My take is, the situation you quoted happens during normal small adjustment, e.g. +/- a few k without much reason for that month.

Situation for CatC here is mass disruption to the norm. E.g. PH come in continue buy in bulk, Tsunami... etc. the Impact is longer term.

Just my $0.02

Two cents

 

The increase is not because the quota increased but there was mass scrapping. So unless those who scrapped are not going to replace their vehicles I would not be too optimistic for now especially since we are seeing disruptors like uber in the market.

 

But all the best to all.

[Leo22]

Two cents

 

The increase is not because the quota increased but there was mass scrapping. So unless those who scrapped are not going to replace their vehicles I would not be too optimistic for now especially since we are seeing disruptors like uber in the market.

 

But all the best to all.

Ya loh, one day they are still inside the same ring, all buyers are still at their mercy, which sadly they don't have any.

[Showster]

Two cents

 

The increase is not because the quota increased but there was mass scrapping. So unless those who scrapped are not going to replace their vehicles I would not be too optimistic for now especially since we are seeing disruptors like uber in the market.

 

But all the best to all.

There will always be a portion that stops driving after scrapping.

 

In 2021 or 2022 there will also be mass scrapping too.

[Arch1984]

Will have mass renewing or ppl replacing their current old lorry or van. If demand strong may not drop very low. Unless dealer no stock. Few months down the road sld have quite abit of scrapping also

[Axela72]

There will always be a portion that stops driving after scrapping.

 

In 2021 or 2022 there will also be mass scrapping too.

I doubt those buy 5 ears renewal coe will be scrapping at the same time. Major of the bulk would have changed their ride within this 5 years when the price is good. Whose know part of this group is now focusing on cat C now

[Showster]

I doubt those buy 5 ears renewal coe will be scrapping at the same time. Major of the bulk would have changed their ride within this 5 years when the price is good. Whose know part of this group is now focusing on cat C now

The thing is no matter who holds the car with the renewed COE, they all have to scrap 5 years later if they renewed 5 years, and this will return the COE to the system for new cars quota, and while some of them then can afford new cars, many will not be able to. The renew 10 years group (a much smaller group) will also come back into market then.

 

So I guess that period will have another COE weakness window. But for now till then...

[Jwee85]

Two cents

 

The increase is not because the quota increased but there was mass scrapping. So unless those who scrapped are not going to replace their vehicles I would not be too optimistic for now especially since we are seeing disruptors like uber in the market.

 

But all the best to all.

 

The increase quote is due to past three months INCREASED scrapping.

But the fact that we didn't see 6times increased in unsuccessful bid over the past two months for Cat.C means something.

I think it means MOST van owners are NOT buying new replacement vans/lorries.

 

Next bid SURE dropped to $1.

I am goign to bid for Cat.C and register a Suzuki Every to carry my bicycles to east coast park to cycle.

[twa1977]

Most cat C buyer should already have replaced their van or renew coe before scrap. So I think there is further downside to cat c

[LaBamba]

Even with the car show this weekend AND the slight reduction in Coe quota for both Cat A & B, there's a good chance that Cat A might fall. Seems like a lot of people have been buying Cat C vehicles. Some from Cat A might have switched to Cat C (notwithstanding the additional paperwork required & restrictions imposed), and possibly a few from Cat B might too, although Cat B demand is mostly inelastic.