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COE 2nd bidding February 2010

Kangadrool

By Kangadrool,
in General Car Discussion

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Lufu

Lufu

1st Gear

i bought toyota car from BM

i thought they are going to be agressive in the COE this round (you know the reason right? the news etc...)

but seems they are quite relax leh..

 

 

good news then, you take back your deposit if they don't get you a COE after 6 biddings

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Majordan

Majordan

2nd Gear
(edited)

wah lau sianz like dat... this year will another crash or not? stocks or property pls crash......

 

ask u all arh..., COE so damn high why you all still buying cars? seriously, just curious?

Edited by Majordan
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Kar_lover

Kar_lover

Supercharged

wah lau sianz like dat... this year will another crash or not? stocks or property pls crash......

 

ask u all arh..., COE so damn high why you all still buying cars? seriously, just curious?

 

because money is not everything.....for some, they die die want the car or first time buyer die die need a car then bo pien. besides, if u believe COE will continue to go up (maybe to $30k), then u buy now @ around $23k is considered "cheap". afterall cheap and expensive is relative. now we still have the mindset of 2009 when COE drop to below $10k dats why we feel expensive. But when COE first started out long ago it was like $30k - $40k if i remember correctly.

 

my fren bought his forte at $44k when COE was below $10k. Then now, 10mths later COE is $20k, Forte cost $54k, if he sell his Forte now, he hardly lose any money cos resale price is based on current car price.

 

moral of story, buying car in singapore is like gambling - only u dun need to pay a levy to get in.

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Saycheese78

Saycheese78

Clutched

Price of owning a car per month. Min 1200 - 1500. Per Year = $14k - 18k. Ten Years = 140-180k.

Diff between COE at 20k or 15k = $5k.

Increase in cost of owning car if get COE at 20k vs 15k: 2.7 - 3.6%

If you are trying to save that 5k and wait and wait and wait, dun get a car lah.

Only good is that if u no car and wait 1 year, u save >10k.

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Salmon

Salmon

1st Gear

Just keep in mind, that your paper value for your COE will be based on Cat A (if you are getting a Cat A) COE on the same bidding round.

They might tell you that the Open Cat is more expensive than Cat A and need you to top up. So, it will be your decision.

If you think COE in coming weeks surely will go up, you take their offer. If you think COE will come down, you wait for another round. But be prepared that you might not get your new car.

Yeah, buying a car is also a gamble. Need some luck some time.

 

Bros do take note: see the link below point 1 second last para... (I only got to know this recently!)

http://www.asiaone.com/Motoring/Owners/Buy...0609-13696.html

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Kar_lover

Kar_lover

Supercharged

Price of owning a car per month. Min 1200 - 1500. Per Year = $14k - 18k. Ten Years = 140-180k.

Diff between COE at 20k or 15k = $5k.

Increase in cost of owning car if get COE at 20k vs 15k: 2.7 - 3.6%

If you are trying to save that 5k and wait and wait and wait, dun get a car lah.

Only good is that if u no car and wait 1 year, u save >10k.

 

I tink if u're comparing COE difference of $15k and $20k of course the difference is not big but as i said, i tink ppl still tinking of 2009 where COE was like $5k to $10k. That time Fit was selling around $50k....i tink now $60k also cannot get....

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Ben5266

Ben5266

Supercharged

Not common for the past few years when COE is going down steadily.

I know of a case, they booked a Fit for about $53k in June/July where the target COE is $13k. But COE never drop to that level again and 6 bids were over. But the buyer opted to stay on with the contact. The PI is more than happy to keep the deposit until they finally gave up or top up.

 

 

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Roh96

Roh96

6th Gear

Price of owning a car per month. Min 1200 - 1500. Per Year = $14k - 18k. Ten Years = 140-180k.

Diff between COE at 20k or 15k = $5k.

Increase in cost of owning car if get COE at 20k vs 15k: 2.7 - 3.6%

If you are trying to save that 5k and wait and wait and wait, dun get a car lah.

Only good is that if u no car and wait 1 year, u save >10k.

 

If a person can wait longer than 1yr, that means he/she probably don't need a car in the first place.

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Roh96

Roh96

6th Gear

wah lau sianz like dat... this year will another crash or not? stocks or property pls crash......

 

ask u all arh..., COE so damn high why you all still buying cars? seriously, just curious?

 

This is called price chasing. Like stock market and property, when price start to climb kiasu ppl all start to rush in to buy afraid it will go up further and miss the boat. The same mindset apply to car market too, when COE climbs more ppl will rush in. When COE drops, they will play waiting game and hoping it to go down further.

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Fedup-camry

Fedup-camry

Neutral Newbie

COE not as high as 10 to 13 years ago ....... it cost 100k for big car, and my small car COE was 50k............a 1.3 manual corolla was $100k, with depreciation per year like 8k+....even more expensive than my Camry 2.4 ......

 

so, the present COE around 20k to 24k is not considered high ..... plus the impending quota cut by about 25% to 30%, ..... looks like COE will go to around 40k to 50k

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Majordan

Majordan

2nd Gear
(edited)

has it been confirmed that the COE quota will be further cut in 2010? I keep hearing about it but can't find any official articles. I think the recent cut was already about 40% in 2009 right?

 

the thing is i have a car car now (3yrs new) - just itchy want to change only...

Edited by Majordan
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Joycechua

Joycechua

Neutral Newbie

Bidding status as at 24/02/2010 15:55:22.00 hrs

Category Current COE Price ($) Quota Bids Received

A CAR (1600CC & BELOW) & TAXI 19,700 1,148 1,422

B CAR (ABOVE 1600CC) 23,503 685 919

C GOODS VEHICLE & BUS 23,389 173 275

D MOTORCYCLE 981 363 445

E OPEN 24,000 590 1,185

 

Source: Land Transport Authority [bigcry]

[bigcry] I got my COE at 20340 [bigcry]

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Tazzi80

Tazzi80

3rd Gear

Best, the SE called and ask me top up 4k for them to try higher next time. I ask him whether if the COE drop to 18k (that's what they bidded) how he said no refund.

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