Cheaper to buy car now or next year?

[Leepee]

We all know the gov is saying that they are going to restrict the Car growth to 1.5% or less, instead of the former 3%.

It was announced in March09 about the COE quota cut, and perhaps one more round of cut in September09.

Looking at the poor 'economy', yet due to limited COE quota, the COE price are increasing upwards. There is no clear explaination for the upward trend except Singaporeans are cash rich no matter what is the economic situation.

 

Another fact is that many new PR/Citizens are given out by the gov to account for the locals low birthrate.

We have seen rental rates shooting up the roof in 2005-2008 due to these new citizens. And according to my housing agent, these same citizens are buying up the HDB/Condo/Houses like no tomorrow right now, since they reasoned that they will ended up paying LESSER monthly installment to the banks. Buying a new house, with potential for appreciation, and yet paying lesser monthly loan(in lieu of wasting money to a bottomless pit thru paying rental), and also can sell at huge profit to bring back their hometown in ten years time when they decided to give up their PR/Citizenship.

 

These same group of citizens are surely buying cars as well. Which may explain why the COE demand is so strong even in this poor economic period.

 

The car population will not suddenly decrease just because gov has vowed to reduce the COE quota.

The road congestion will stay forever, as the car growth will not be nagative, gov has said to let it grow at 1.5%.

 

So since housing and COE in Singapore are always limited.....would the COE shoot up the roof when the economy recovers in 2010 onwards?

Is it a 'good' time to buy a car now before the COE becomes too expensive.

 

[Ngck]

We all know the gov is saying that they are going to restrict the Car growth to 1.5% or less, instead of the former 3%.

It was announced in March09 about the COE quota cut, and perhaps one more round of cut in September09.

Looking at the poor 'economy', yet due to limited COE quota, the COE price are increasing upwards. There is no clear explaination for the upward trend except Singaporeans are cash rich no matter what is the economic situation.

 

Another fact is that many new PR/Citizens are given out by the gov to account for the locals low birthrate.

We have seen rental rates shooting up the roof in 2005-2008 due to these new citizens. And according to my housing agent, these same citizens are buying up the HDB/Condo/Houses like no tomorrow right now, since they reasoned that they will ended up paying LESSER monthly installment to the banks. Buying a new house, with potential for appreciation, and yet paying lesser monthly loan(in lieu of wasting money to a bottomless pit thru paying rental), and also can sell at huge profit to bring back their hometown in ten years time when they decided to give up their PR/Citizenship.

 

These same group of citizens are surely buying cars as well. Which may explain why the COE demand is so strong even in this poor economic period.

 

The car population will not suddenly decrease just because gov has vowed to reduce the COE quota.

The road congestion will stay forever, as the car growth will not be nagative, gov has said to let it grow at 1.5%.

 

So since housing and COE in Singapore are always limited.....would the COE shoot up the roof when the economy recovers in 2010 onwards?

Is it a 'good' time to buy a car now before the COE becomes too expensive.

 

 

anytime is a good time if you can afford it. vice versa

[Friendstar]

i think if u can secure high COE with current prices, its a good time to buy.

 

 

[Snowbell]

It is never cheap to buy a car.Only buy when U can afford.

[Incom]

Hi,

 

My 2 cents worth.

 

No hard and fast rule for car buying in Singapore. I feel that if there is really a need, just buy it. If not just wait for the next coe crash and go in for a guaranteed COE deal.

 

FYI. The FTs also know how to calculate. House value will appreciated, but for a car, it is always a liability. I see some FTs can afford to pay a car in full, but not many are willing to pay for a high COE car. The car sales has been slowing down each time the COE price goes up. The market will tell you whether it is a good time to buy. Moreover each time the COE goes up, the car price might increase more than what the COE price increase. At the end of day, u need to calculate the profit margin of the car by the dealer, before deciding.

 

Cheers

Edited June 21, 2009 by Incom

[Friendstar]

ya... or to be absolutely safe, go for a <3years old 2nd hand.

Edited June 21, 2009 by Friendstar

[Throttle2]

anytime is a good time if you can afford it. vice versa

 

absolutely

[Toapayohkid]

weird now. ppl losing jobs but property and car market like very hot, following the crazy confidence in the stock market. once it crash, straightaway go and prey on these ppl bought new house and car but in fact really didn't do their sums right! :)

[GoodCar]

ya... or to be absolutely safe, go for a <3years old 2nd hand.

 

 

Good suggestion

[GoodCar]

Hi,

 

My 2 cents worth.

 

No hard and fast rule for car buying in Singapore. I feel that if there is really a need, just buy it. If not just wait for the next coe crash and go in for a guaranteed COE deal.

 

FYI. The FTs also know how to calculate. House value will appreciated, but for a car, it is always a liability. I see some FTs can afford to pay a car in full, but not many are willing to pay for a high COE car. The car sales has been slowing down each time the COE price goes up. The market will tell you whether it is a good time to buy. Moreover each time the COE goes up, the car price might increase more than what the COE price increase. At the end of day, u need to calculate the profit margin of the car by the dealer, before deciding.

 

Cheers

 

 

Sometime....the dealer make more $$ when the COE goes down.

Go www.------.com to see for your self

[Schneider79]

Buy with your heart and live with no regrets. There is never a good time to buy a car. When you missed the $2 COE, you said" Aiya, got next time."

But today is $12899 and your heart says" Will drop but dont know when." When it drops, then you go "Aiya, I missed again."

 

So how? Forever don't need to buy car?

[Maroon5]

the best time to buy is.................last year.

[Small_eyes]

anyone selling car in this forum? if yes... which link do i go to?

 

paisei ah, me newcomer.

[Angmokio]

Hi,

 

My 2 cents worth.

 

No hard and fast rule for car buying in Singapore. I feel that if there is really a need, just buy it. If not just wait for the next coe crash and go in for a guaranteed COE deal.

 

FYI. The FTs also know how to calculate. House value will appreciated, but for a car, it is always a liability. I see some FTs can afford to pay a car in full, but not many are willing to pay for a high COE car. The car sales has been slowing down each time the COE price goes up. The market will tell you whether it is a good time to buy. Moreover each time the COE goes up, the car price might increase more than what the COE price increase. At the end of day, u need to calculate the profit margin of the car by the dealer, before deciding.

 

Cheers

 

FT's own country car is so dirt cheap, why spend somthing that is depreciating so rapidly in 10 years time? just take MRT loh.

 

FT will buy HDB as investment cum a place to stay, sublet the other two rooms to cover their instalments, no privacy but smart move.

 

Once their house appreciate, they will sell back to us or our children (aka next generation), close CPF account and balik kampong with Cold hard CASH!!!

 

The above is just a theory, will work if they exit before the next economy crisis.

Edited February 7, 2010 by Angmokio

[Melvinwcc]

weird now. ppl losing jobs but property and car market like very hot, following the crazy confidence in the stock market. once it crash, straightaway go and prey on these ppl bought new house and car but in fact really didn't do their sums right! :)

 

 

Smart move!

 

The saying is CASH is KING ...

 

[Ah-Ho]

anyone selling car in this forum? if yes... which link do i go to?

 

paisei ah, me newcomer.

 

 

http://www.sgcarmart.com/main/index.php

there u go bro :)

[Sistermiata]

Why worry about when is the cheap car time ? Why not worry about when you can make more money and really afford a car?

 

[Ysc3]

Why worry about when is the cheap car time ? Why not worry about when you can make more money and really afford a car?

 

if i read you correctly, i agree with you.

 

ppl are more interested and engrossed in complaining abt what other ppl can do or achieve - regardless of nationality.

 

Rather than to look in the mirror and see what that fella can do for themselves.

 

sort of like a kid whining ......