How will COE increase affect resale price

[RadX]

Still considerating my options. If I get a car now, it will cost me more than $10K and wasted time!

 

 

no wonder angry  

[Pocy]

Still considerating my options. If I get a car now, it will cost me more than $10K and wasted time!

Another bro in the COE thread is currently contemplating legal action. Perhaps both of you should join force.

[Skins]

Thanks to those that provided their insight and thanks to do that use their precious sunday to reply me irrevelant stuff. 

 

Aside to Angryharrier, there is a similar case like yours in Singapore harrier facebook. (Maybe you are the guy that posted) Also same PI. Anyway, so many stories on horror PIs, can get back deposit is considered "lucky".

 

In my opinion, when buying car esp from PI, do not go for those 6 bids type. The long wait is too uncertain with them. I will only go for immediate registration or those with ready stocks and can get within the next 1, max 2 bids.

 

Having said that, i bought my recent car while it is enroute from Japan as i have done my research with the PI and so far did not find much negative news on them. Lucky for me, all turned out well.

[Axela72]

Another bro in the COE thread is currently contemplating legal action. Perhaps both of you should join force.

That is the meaning of 6 bid which mean dealer doesn't need to bid high at the 1st few bid. If straight aways bid high, must as well state 3 bid instead of 6 bid, isnt that so?

[Pocy]

That is the meaning of 6 bid which mean dealer doesn't need to bid high at the 1st few bid. If straight aways bid high, must as well state 3 bid instead of 6 bid, isnt that so?

Key word is 'guarantee'. Regardless of the number of bids, a COE shall be secured as per agreement for guarantee package.

[RadX]

Hi all,

I booked a car when the coe price was ard $47000. Recently I took delivery of the car and as the COE price increased, the dealer had to pay for a $56000 COE for me.

I felt that I had gained in terms of paper value of $9000 but my friend said that there is no "gain" on my part. He said that in future when I sell my car, dealers/buyers will only look at depreciation based on parf value and offer accordingly and will not take COE into consideration.

For eg, when i want to sell my car with $56000 COE versus a same model car with $47000 COE, assuming car age is only one month difference, i wont be able to sell it for a higher price because naturally, people/dealers will take in whichever car is selling cheaper so i cannot use the higher COE to my advantage. So my gain is actually just "psychological".

We dun talk about scrapping it because for the first few years, no one will scrap their cars when they can definitely fetch a higher price in the resale market.

Any thoughts?

 

 

Merged here

 

I'm future SEARCH! Threads like these are overflowing

 

In future you will get a warning!

[Mahjong74]

Maybe i rephrase the question:

 

A and B both paid same 100k for same car model. A COE was 50k, B COE was 40k. OMV / Parf is similar. Only difference is 2 weeks in registration.

When it comes to selling off their cars in future, A will not have an advantage over B because dealers will look at depreciation to offer the car. So if A thinks that he can fetch his car at a higher value due to higher COE and he price his car slightly higher than B, then dealers would rather buy from B. 

 

Guess you think too much. A car is a liability and not an asset. 

 

No matter what, based on current COE and depreciation, we going to lose $10K to 15K per year driving new car. 

(+ petrol, road tax, parking, ERP, mainteance etc....................)

 

Whether you gain or loss that 5k to 10k on COE which is a piece of paper is nothing over 5 to 10 years. 

 

Instead, work harder or invest to earn back that 10k or more. 

 

Singaporeans really too stress nowadays. No matter COE up or down, also got people unhappy and angry. 

 

Like what a few brothers had advise, just enjoy your new car with your family and love ones. 

[Tigershark1976]

Guess you think too much. A car is a liability and not an asset. 

 

No matter what, based on current COE and depreciation, we going to lose $10K to 15K per year driving new car. 

(+ petrol, road tax, parking, ERP, mainteance etc....................)

 

Whether you gain or loss that 5k to 10k on COE which is a piece of paper is nothing over 5 to 10 years. 

 

Instead, work harder or invest to earn back that 10k or more. 

 

Singaporeans really too stress nowadays. No matter COE up or down, also got people unhappy and angry. 

 

Like what a few brothers had advise, just enjoy your new car with your family and love ones. 

 

Yeah, agree, buy already still so unhappy, then spend so much money for what? might as well donate the money away?

 

Before money is spent, think carefully, its not the matter how much money is spent, its how much happiness can you buy with the money spent. Otherwise, I seriously dont find any reason to spent money to make ownself angry....

 

[Newbie26]

Agree Bro

 

Actually, there are many Scientific studies to show that

 

MONEY can BUY Happiness if u spend it RIGHT  

 

http://www.sciencealert.com/science-finds-money-really-can-buy-happines-if-you-spend-it-right

 

Guess Cars are one of them

 

 

Yeah, agree, buy already still so unhappy, then spend so much money for what? might as well donate the money away?

 

Before money is spent, think carefully, its not the matter how much money is spent, its how much happiness can you buy with the money spent. Otherwise, I seriously dont find any reason to spent money to make ownself angry....
 

 

[merc280v6]

That is the meaning of 6 bid which mean dealer doesn't need to bid high at the 1st few bid. If straight aways bid high, must as well state 3 bid instead of 6 bid, isnt that so?

That's fine ... but if dealer cannot get COE after the 5th bid, then he better bid high high for the last, 6th bid. That's what's meant by a guaranteed bid - 6, or otherwise, notwithstanding!

[merc280v6]

Agree Bro

 

Actually, there are many Scientific studies to show that

 

MONEY can BUY Happiness if u spend it RIGHT

 

http://www.sciencealert.com/science-finds-money-really-can-buy-happines-if-you-spend-it-right

 

Guess Cars are one of them

 

car happy.jpg

Actually I have seen an unhappy AMTK driver inside his Porsche 911 cabrio ..... when I overtook his on a very empty 3-lane road, after we both lauched off a red light seconds earlier !!!

 

Well, he tried, he really did!

His face was very menacing indeed in the bright sunlight!