Old-driver 5th Gear October 20, 2018 Share October 20, 2018 There are lots of 5-year renewal over the past few months. Come 2023 when they all have to scrap, there will be even more COEs. Why panic... buy cars when you need it. Not when its cheap. ↡ Advertisement 3 Link to post Share on other sites More sharing options...
Mkl22 Twincharged October 20, 2018 Share October 20, 2018 There are lots of 5-year renewal over the past few months. Come 2023 when they all have to scrap, there will be even more COEs. Why panic... buy cars when you need it. Not when its cheap. Yeah and with current coe prices firmly at half of the renewal 2 years ago, I doubt many of the 5year renewals will last till 2021. Most will probably be scraped early next year. Some of the 10year renewals might be scrapped too. Unless they are more collectibles like evo9 or Porsches etc. 1 Link to post Share on other sites More sharing options...
Jamesc Hypersonic October 20, 2018 Share October 20, 2018 yah lo, agree everyone's value of things are different... some thinks that iphone X is cheap, some thinks it's overvalued and will never spend that kind of money on a phone maybe dream of 10k COE will really come true when economy tanks? for those who criticise... ai ler huan lo? people prefer to wait for better prices cannot meh? or u jealous people manage to buy a cheaper car than u? If really drop to 10k means a lot of people lost their job so maybe hit 10k also people won't buy. Link to post Share on other sites More sharing options...
wangwa 1st Gear October 20, 2018 Share October 20, 2018 I know a lot of people wanted to buy property , but did not manage to buy the recent property measure. They have cash now but not enough to buy private property. Many just anyhow buy the second most expensive item (car lah ) just to occupy a space in the car park or landed estate. Nothing to buy now. Can just hoot car lah...maybe 2 or 3 cars 2 Link to post Share on other sites More sharing options...
tmsan 3rd Gear October 20, 2018 Share October 20, 2018 There are lots of 5-year renewal over the past few months. Come 2023 when they all have to scrap, there will be even more COEs. Why panic... buy cars when you need it. Not when its cheap. Everyone need to travel but not all need a car, when cheap I buy, if ex then I look for alternatives, there are alot of direct substitutes available 4 Link to post Share on other sites More sharing options...
tmsan 3rd Gear October 20, 2018 Share October 20, 2018 Yeah and with current coe prices firmly at half of the renewal 2 years ago, I doubt many of the 5year renewals will last till 2021. Most will probably be scraped early next year. Some of the 10year renewals might be scrapped too. Unless they are more collectibles like evo9 or Porsches etc.I think renewal cases will stay, these are the more price sensitive group that thought it through before forging parf and doing up their ride before renewing coe. The depre gap betw renewal and new is easily 40% Link to post Share on other sites More sharing options...
Wt_know Supersonic October 20, 2018 Share October 20, 2018 (edited) gotta crowd funding to post a 1-page ads in ST to thank ah gong for giving out low coe at $30k ... wan sui wan sui ... wan wan sui Edited October 20, 2018 by Wt_know Link to post Share on other sites More sharing options...
thesoul 2nd Gear October 20, 2018 Share October 20, 2018 I know a lot of people wanted to buy property , but did not manage to buy the recent property measure. They have cash now but not enough to buy private property. Many just anyhow buy the second most expensive item (car lah ) just to occupy a space in the car park or landed estate. Nothing to buy now. Can just hoot car lah...maybe 2 or 3 carsIf those who didnt purchase property as a form of investment as a consequence of increased property tax, do you think they will splurge on additional depreciating assets like cars? Most of them probably keep the cash to load more equities with the most recent correction. 2 Link to post Share on other sites More sharing options...
Kar_lover Supercharged October 20, 2018 Share October 20, 2018 i didn't say they are wrong ... I said they are lucky and can now save a lot of money ... so really good for them !Ok cool!! :) Link to post Share on other sites More sharing options...
wangwa 1st Gear October 20, 2018 Share October 20, 2018 Singaporean have too much money. It is pure peanuts to spend on depreciating cars n many of them are earning billions shorting markets. Unfortunately I m not one of them. Link to post Share on other sites More sharing options...
Ct3833 Supersonic October 20, 2018 Share October 20, 2018 Singaporean have too much money. It is pure peanuts to spend on depreciating cars n many of them are earning billions shorting markets. Unfortunately I m not one of them.Don't get emotuonal, most people are spending their hard erned money. But as long as can afford and happy, not a problem at all. In reality not many of them are earning billions.... just refer to the link, there are 187k millionaires , but there are 600k cars, that means not all car owners are milllionaires, letting alone billion$. And dont forget, million include properties among fixed assets, share and other investment. So real cash rich millionaires are a lot less. https://www.straitstimes.com/business/economy/number-of-millionaires-in-singapore-up-11-to-183737-in-year-to-mid-2018-credit Link to post Share on other sites More sharing options...
Ct3833 Supersonic October 20, 2018 Share October 20, 2018 I think renewal cases will stay, these are the more price sensitive group that thought it through before forging parf and doing up their ride before renewing coe. The depre gap betw renewal and new is easily 40%The gap for premium conti car is about 60% to 70%. Link to post Share on other sites More sharing options...
Ct3833 Supersonic October 20, 2018 Share October 20, 2018 You know me?? He said me but me not his friend. They do that for survival. The ones who suffer are the buyers who fall for it. Look at how their car prices plunge like crazy Up cos of expo show leh Car price plunge or not they would still make big money. Link to post Share on other sites More sharing options...
thesoul 2nd Gear October 20, 2018 Share October 20, 2018 (edited) Singaporean have too much money. It is pure peanuts to spend on depreciating cars n many of them are earning billions shorting markets. Unfortunately I m not one of them.Hahaha thats not the norm for sure since there aint many billionaires around like you alleged. Many high SES people are rather stingy (thrifty if you want a nicer word ;) ), since they aim to become even richer. Hope you are not lost in your own world out there bro Edited October 20, 2018 by thesoul Link to post Share on other sites More sharing options...
Sktan10 5th Gear October 21, 2018 Share October 21, 2018 There are lots of 5-year renewal over the past few months. Come 2023 when they all have to scrap, there will be even more COEs. Why panic... buy cars when you need it. Not when its cheap. You mean they will not buy new car anymore? Link to post Share on other sites More sharing options...
Midorima 4th Gear October 21, 2018 Share October 21, 2018 You mean they will not buy new car anymore?5 years later with more mrt lines available, it is possible. As it is now, I think less people are buying cars because of better mrt lines (minus the breakdowns) and grab etc. For example, people living at Hillview etc going town to work, take train is same time as car. Why drive and go through the jam? Also, some people prefer taking public transport because can use phone, watch show, instead of just driving. I suspect coe will continue on a downtrend for a long time to come. Even this downtrend now is not common. Usually doesn’t last so long 1 Link to post Share on other sites More sharing options...
awhtc 6th Gear October 21, 2018 Share October 21, 2018 5 years later with more mrt lines available, it is possible. As it is now, I think less people are buying cars because of better mrt lines (minus the breakdowns) and grab etc. For example, people living at Hillview etc going town to work, take train is same time as car. Why drive and go through the jam? Also, some people prefer taking public transport because can use phone, watch show, instead of just driving. I suspect coe will continue on a downtrend for a long time to come. Even this downtrend now is not common. Usually doesn’t last so long The unusual long term down trend is the combined effect of VES and scrapping of (a) 9/10 year-old cars , (b) 4/5 year-old extended COE cars and © high COE cars. While the VES is here to stay, the scrapping should slow down around mid of next year as the 2018 replacement cycle gradually runs out of steam by mid 2019. However, a $30k +/- COE is still not cheap despite the lowered COE. I think Cat A should hover between $20-25k in the next two quarters, while Cat B should go towards $35k as supply is cut down and end of year bonus is coming. 2 Link to post Share on other sites More sharing options...
Sktan10 5th Gear October 21, 2018 Share October 21, 2018 5 years later with more mrt lines available, it is possible. As it is now, I think less people are buying cars because of better mrt lines (minus the breakdowns) and grab etc. For example, people living at Hillview etc going town to work, take train is same time as car. Why drive and go through the jam? Also, some people prefer taking public transport because can use phone, watch show, instead of just driving. I suspect coe will continue on a downtrend for a long time to come. Even this downtrend now is not common. Usually doesn’t last so long So will you give up if more mrt line available? ↡ Advertisement Link to post Share on other sites More sharing options...
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