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COE Bidding – 1st Round of August 2017

Carbon82

By Carbon82,
in General Car Discussion

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kykh

kykh

Supercharged

Bro, when is the right time to buy?

I had renewed COE early this year. Waiting for right time to buy new car.

Since you had already foregone the minimum PARF benefit in renewing the COE just early this year, I would think you should keep your current ride till the renewed COE expires to reap the maximum benefit from the sunk cost (I would have renewed for 10 rather than 5 years if I were you), as long as your car is still in acceptable condition which is probably among the reasons you had opted to renew its COE in the first place.

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Tsyeo

Tsyeo

2nd Gear

The public lo. People who feel that the price is right. In addition, people who are unsure abt what is going to happen aft 1 Jan next yr will tend to buy now also

 

If public, they also need to buy from AD right?

But the show room quite quiet for the past 3 weeks.

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Theobserver

Theobserver

2nd Gear

IMO, the COE does plays on you if it drops on your bid.  Psychologically, you will be thinking you could have waited for the next round and saved some money on the buying price.  But after a while, you will get over it I guess.

 

But when it comes to trading in a car with a high coe compared to the current coe, many used car dealers will not take in your car as the paper value is too high.  The car would have to be scrapped and exported.  End up you don't get a good trade in value as they pay probably about 5 to 6k above paper value depending on the age of the car.  And worse still if you have enjoyed a CEV rebate when you first bought the car.  I have had this experience.

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Dannnn

Dannnn

4th Gear

IMO, the COE does plays on you if it drops on your bid.  Psychologically, you will be thinking you could have waited for the next round and saved some money on the buying price.  But after a while, you will get over it I guess.

 

But when it comes to trading in a car with a high coe compared to the current coe, many used car dealers will not take in your car as the paper value is too high.  The car would have to be scrapped and exported.  End up you don't get a good trade in value as they pay probably about 5 to 6k above paper value depending on the age of the car.  And worse still if you have enjoyed a CEV rebate when you first bought the car.  I have had this experience.

Meaning, instead of market value, they take in your car more to paper value+ a few k for the body. right ?

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Theobserver

Theobserver

2nd Gear

Meaning, instead of market value, they take in your car more to paper value+ a few k for the body. right ?

Yes. But I would guess it is close to market value, only that the dealer will not make much if he sell the car in local market due to the high paper value. So they will scrap and export it.

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iphone8

iphone8

4th Gear

Since you had already foregone the minimum PARF benefit in renewing the COE just early this year, I would think you should keep your current ride till the renewed COE expires to reap the maximum benefit from the sunk cost (I would have renewed for 10 rather than 5 years if I were you), as long as your car is still in acceptable condition which is probably among the reasons you had opted to renew its COE in the first place.

 

car condition still ok. Just air con not that cold and need to top up coolant on monthly basis.

but my mind keep think on new car. Plan to upgrade to small SUV but my budget only $80k.

Hahaha...

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Tsyeo

Tsyeo

2nd Gear

car condition still ok. Just air con not that cold and need to top up coolant on monthly basis.

but my mind keep think on new car. Plan to upgrade to small SUV but my budget only $80k.

Hahaha...

Quite difficult to get a SUV with $80K budget.
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Doppel

Doppel

Turbocharged

My budget is not high... [laugh]

 

Only a humble City.

Congratulations on your new ride!

 

Honda City is a nice car.

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iphone8

iphone8

4th Gear

Quite difficult to get a SUV with $80K budget.

 

Ya. If not, maybe lower target to a sedan.

Just feel heart pain to lose $100k if I buy a new SUV right now.

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Wondertree

Wondertree

3rd Gear
(edited)

I believe most people will prefer the COE to go up once you have booked your car. Assuming COE goes up and you eventually got your car at a much higher COE than the COE when you initially booked the car, it will probably translate to a higher selling price for your car and means you will have higher resale value. Whereas, the vice versa will be true and in addition, the amount of rebate you can get back really depends on the level that your dealer set for you. I can imagine a case where the rebate level is very low, so when the COE drops but not enough to trigger a rebate, the owner not only couldn't get any rebate, but has a fear that the resale value will be impacted due to the low COE.

 

But... as many of the experienced owners have always advised, once the deposit is placed, don't think about the COE too much anymore and just wait to enjoy the arriving car.

 

resale value of car is affected by the coe result at the point of resale, not when it's new purchase.

 

Good example would be those who bought cars in 2009 and sold in 2013. Do you think their resale value suffer? 

Edited by Wondertree
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Ct3833

Ct3833

Supersonic

80k buy a car in sg also hard la.

Stretch to 90k will have more options but not SUV though. Eg nissan note, honda freed, mazda 2, elantra, kia 3 .
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Kurumanbo

Kurumanbo

3rd Gear

resale value of car is affected by the coe result at the point of resale, not when it's new purchase.

 

Good example would be those who bought cars in 2009 and sold in 2013. Do you think their resale value suffer? 

Agree on that. In that case, i guess the best case scenario is still buy at low COE and sell at high COE, but too bad no one can ever accurately predict the trend.

Anyways, tmr is the day liao. I hope everyone who's waiting for their COEs get theirs succcessfully!

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Vratenza

Vratenza

Supersonic

Sell High also means buy high.

 

Unless coverting to BMW. 

 

Agree on that. In that case, i guess the best case scenario is still buy at low COE and sell at high COE, but too bad no one can ever accurately predict the trend.


Anyways, tmr is the day liao. I hope everyone who's waiting for their COEs get theirs succcessfully!

 

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Ct3833

Ct3833

Supersonic

Ya. If not, maybe lower target to a sedan.

Just feel heart pain to lose $100k if I buy a new SUV right now.

You have just renewed coe, why not repair the aircon and move on to enjoy the low depreciation ?
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