COE Bidding – 1st Round of December 2017

[Vinceng]

Don't understand what is there to be congratulated when buyers get a lower COE AFTER signing to buy a car at a supposingly higher COE. 

 

Example. Before buying, i would naturally want COE to be it's lowest as overall car price will be lower. But once I signed on the dotted line, loan approved, I would wish get the COE to be as high as possible with the agreed price signed.

 

My 5 cents.

 

That's how Distributors manipulate the system, and the relevant authorities close a blind eye.

 

A friend booked a Jap car after the last COE bidding and felt pressured to top up $3K for guaranteed COE, as the salesman said COE prices are rising with CEVS and quota cut. He secured his COE today (it dropped by $4,500).

 

He's now fumming mad !!!

[Andyngps]

my package w PI is 4 bids Guarantee no top up. Till now they din bid for past 3 bids. what does this mean? if next round they dont bid n deliver means....take them to civil court?

Usually they wait till last bid or whenever it maximises their profits. But this is weird. The drop is rather significant today unless they expect if will go further south. Happened to me 4 times when i dealt with PI for my previous rides.

That's how Distributors manipulate the system, and the relevant authorities close a blind eye.

 

A friend booked a Jap car after the last COE bidding and felt pressured to top up $3K for guaranteed COE, as the salesman said COE prices are rising with CEVS and quota cut. He secured his COE today (it dropped by $4,500).

 

He's now fumming mad !!!

Oh man. Salesman talk as always. So the agent gained 4.5 + 3k.... Edited December 6, 2017 by Andyngps

[anggukueh]

So happy! We got our COE today woohoo PI mentioned he'll only bid next year when COE is lower. But he messaged my hubby at 4.01pm today to say we got our COE hahaha

 

To me, COE/overall car price is a game la you never know when prices go up or go down. So I see the price "ok can, within our comfort zone", then we enter market alr.. Yes, we got lower paper value but we're happy :)

[Kia7200]

That's how Distributors manipulate the system, and the relevant authorities close a blind eye.

 

A friend booked a Jap car after the last COE bidding and felt pressured to top up $3K for guaranteed COE, as the salesman said COE prices are rising with CEVS and quota cut. He secured his COE today (it dropped by $4,500).

 

He's now fumming mad !!!

3k can buy replica 18"rim with decent tyre plus coilover

 

If I'm ur friend I sure go there bang table

[Dafansu]

That's how Distributors manipulate the system, and the relevant authorities close a blind eye.

 

A friend booked a Jap car after the last COE bidding and felt pressured to top up $3K for guaranteed COE, as the salesman said COE prices are rising with CEVS and quota cut. He secured his COE today (it dropped by $4,500).

 

He's now fumming mad !!!

 

did he top up the $3k to secure it. 

[youpapalite]

VES is paid as part of ARF (Additional Registration Fee).

Thus, you will get back 50% of it upon scrapping at 10th year.

Nope. you don't get it back. 

[Vinceng]

did he top up the $3k to secure it. 

 

Yes, he did top up $3K, that's why he is fumming mad.

 

His colleague who did not top up $3K also secured COE. Both booked on same weekend.

[Muachee997]

Actually VES rebate affect the arf, not sure if surcharge is computed into the arf?

Wait Long Long .. the + is called surcharge and - is called rebate. Rebate will affect ur ARF. Ie ; u get lesser when scrap. Surcharge not add into ARF. Ie: u won’t get more when scrap. Song bo?

[Wt_know]

it’s like bo tai bo ji kena slapped on left face ...

then turn around kena slapped again on right face .. lol

 

Wait Long Long .. the + is called surcharge and - is called rebate. Rebate will affect ur ARF. Ie ; u get lesser when scrap. Surcharge not add into ARF. Ie: u won’t get more when scrap. Song bo?

Edited December 6, 2017 by Wt_know

[Voodooman]

on the contrary, i rather pay $10k VES than COE

VES after 10 yrs still got $5k back when you scrap vehicle

COE after 10 yrs , left $0

I rather pay $10k less today than worry about my PARF at end of year 10.. Lol.... Edited December 6, 2017 by Voodooman

[Dafansu]

Yes, he did top up $3K, that's why he is fumming mad.

 

His colleague who did not top up $3K also secured COE. Both booked on same weekend.

 

Top up $3k + if they adjust pricing downwards from the bid, think easily $7k difference. 

[Papamama]

Yes, he did top up $3K, that's why he is fumming mad.

 

His colleague who did not top up $3K also secured COE. Both booked on same weekend.

Can he use lemon law on this case?

[Jwee85]

just like playing shares.

he chose to believe SE.

why didnt you advice him to read mycarforum?

 

i believe that particular thread on "whether to top-up", was advising NOT to top-up.

 

 

 

 

Yes, he did top up $3K, that's why he is fumming mad.

 

His colleague who did not top up $3K also secured COE. Both booked on same weekend.

 

[Edminski]

looking at the trend, COE will drop to about $35k level with VES additional $10k to $15k on car price.

 

Net tax collected from the government is still $35k + $10k = $45k

 

nowadays buyers still have the purchasing power of total $45k (on the COE + VES) eventually.

 

COE will be around at range of $35k to $40k in the next few rounds of bidding

[Net1sg1969]

Nope. you don't get it back. 

 

My apology n thank you for pointing out the mistake.

 

Any VES rebates, LTA will offset against the ARF resulting in lower PARF.

For VES surcharge, it will be non-refundable.

 

In any case, its a loose loose situation for car owners.

[alphaqman]

You're at the losing end. Unless the contract did specify when they're supposed to bid the COE for you and when the car is to be deliver, they can counter that they didn't bid for you as the car is not ready. Hope that your PI is a trustworthy PI who'll deliver your car.

 

There are PIs who deliver cars with one bid just before the car is due to be deliver to customer even though the contract stated 4bids Guarantee, one shot one kill to save some paper works and costs.

i din bother ro reply when agent text me saying coe not secured this round. I played it cool.

 

So i checked my contract again just now. it state - delivery end Dec. N no coe rebate amount. So this irregardless of coe price that they bid. Die die delivery end Dec.

[Freeder]

For me , I will hunt for a 1or 2yrs old car..kut luck a bit , sure can find a LNIB car..

Edited December 6, 2017 by Freeder

[alphaqman]

Usually they wait till last bid or whenever it maximises their profits. But this is weird. The drop is rather significant today unless they expect if will go further south. Happened to me 4 times when i dealt with PI for my previous rides.

Oh man. Salesman talk as always. So the agent gained 4.5 + 3k....

I have a feeling...PI knows that the COE going south. Looking at todays bidding exercise...like no rush & power.

 

Which means, they know something we do not know. Highly likely trade secret of dealers