Today crazy coe

[Silver_blade]

....many car buyers interviewed said they prefer to get a packaged deal, less hassle, less time wasted to bid oneself, etc.

Eventually gov relented, and allow AD to bid for customer on proxy!!

Depending on which year. I remembered in the early years of COE....it was quite worth it to go for a package. Cos it was a win-win situation for buyers. For example, COE prices was set at $4k in the package, if the eventual COE was $3K, buyer pay $1k less....but if the eventual COE cost $8k, AD absorb the extra. It was quite transparent at the time....cos car prices were without COE. It doesn't matter if you get AD to bid or you bid, the car price will be the same, only diff is the COE prices. My parents sign for a package for $4k COE, but got an $8k one when they eventually got their car. Those who bid on their own, paid an extra $4k for the COE.

 

But it soon became a norm and ADs very soon became smarter and ask buyer to top for higher COE prices.

Edited December 10, 2010 by Silver_blade

[Mustank]

yalor

[Mrpega]

makes me think harder of whether to get a normal or OPC plate..zzz

[Furrynadz]

http://dlapp02.smu.edu.sg/getblob?blobid=1728747707363511

 

 

This paper says open bidding will cause the COE to be cheaeper by $2000 (in 2003).

Whats a load of crap.....people write a thesis, just for the sake of passing their masters!!

 

 

smu is mostly crap anyway

[Felipe]

With news of "Pay-as-you-use" scheme, that would be a better bet..... everyone gets their fair share of more taxes, regardless of the time they use the road...... macham like having a charging meter in your car liddat......

 

 

Then ppl will use their cars during peak hours and pay as they use, causing the same jams as usual. Like it or not, expensive cars are the only way to reduce car population. It's simple logic. That's why we only see that small number of ferraris on the road.

[13177]

makes me think harder of whether to get a normal or OPC plate..zzz

Best is not to buy car.

[Blackseal]

It's gonna be crazier next month and many more months to come...

[Icedbs]

I think fund managers should start buying car as an investment tool. It will probably outperform the market indices in the near term.

Edited December 10, 2010 by Icedbs

[Maroon5]

act the coe 3 days back was 3 weeks interval...even dealers didnt expect 60k to arrive so soon..

[Yeshe]

I could recall my friend paid 109k for his 1.6 Mit Lancer GLX in 1997 and the COE was 65k. I am expecting COE to increase further. For CAT B and Open COE, I will not be surprise if it goes to 6 digits ...

 

my fren's soluna in 1999 was $120k

[NightWind]

It's gonna be crazier next month and many more months to come...

 

Anyone wants to guess when COE will return to the $20k level again?

a) within 1 years

b) 1-2 years

c) 2-5 years

d) 5-7 years

e) 7-10 years

f) Never again unless PAP is overthrown

[NightWind]

Maybe if next election we vote out e tpt minister n an opposition comes in to become e next tpt minister, we see COE being removed n we hv less of these kind of stupid problems?

 

sorry that is pipe dream....PAP will not kill off a big revenue pipe line for the ministers. If u r one of the Pigs in George Orwell's Animal Farm would you release all the animals in the farm?

 

The only way is to kill the Pig to change the system....

[Check13]

Good idea. I wil support u if u can propose n hopefully got chance it wil b implemented.

 

I think e gharmen too kind to FT n PRs. Ty come here to benefit fm our ''system'' ty sud b paying much more than what citizens r paying. Afterall u think ty come here if ty can get a better deal elsewhere? Our foreign policy too damm attractive at e expense of us citizens.

 

Otherwise what is e use of being a citizen of Sillypore.

 

actually, to be fair to everyone, just need to do 2 things

 

1) only buyers can bid

2) you pay whatever you bidded if you're successful (and not the lowest succesful bid)

 

when results are out, show the lowest and highest succesful bid $.

 

100% confirm COE will then reflect without prejudice what buyers are willing to fork out.

And chances are, it's going to be much much lower then current price.

 

[Prozac]

sounds good... but don't think they will allow such a system...cos the price will go down...

[Mcfmun]

The COE and road taxes we pay would not be enought to pay for the roads/bridges/viaducts built and the maintenance.

 

Whatever the COE value, the amount of cars on the road and in the showrooms would still grow by the same 1.5%. The ones who push the price of the COEs up are the people who bid.

 

Just take it easy and the COE prices should stabilise and even go lower. ADs who NEED to sell more cars would try to entice buyers with more value. And then the cycle repeats itself.

 

 

[Wintersonata]

this thread (understandably) running very fast but would just like to comment on above.

 

Whilst there is some truth in it, i dun tink its the whole of the truth.

 

Lets look at the car dealers, with less COEs, they sell less cars every month. However, their overheads remain more or less the same. Hence with each quota revision doing downward, they need to increase the margin for each car they sell as these overheads are now being paid by a smaller amount of cars being sold. Not to mention with each sales exec now able to sell fewer cars, dealer might need to increase their commission (or increase their basic salary) in order for them to take a reasonable pay home. So selling price of the car will increase to cover the overheads and (maybe) commission on top of the increase in COE.

 

For us, existing car owners, yes we have better resale value but not in proportion to the rise in new car price. So the sell high buy high has limited application and probably more relevant if u sell ur car to buy another second hand car. my Koup was $66k when COE was $20K. before yesterday's results, COE was $34k but my car was selling at $85k (notice how the price had gone up by $19k when COE only go up by $14k as per my paragraph above?). If i sell my car now, i will probably break even (i.e. no need to top up) but a new replacement car will be crazy! today's ST reported altis was $97k and camry is $138k. How to sell high buy high?? Someone was even saying picanto will hit $80k. Would be better to just keep my Koup right? If i had extra money, i would buy a 1 yr old golf 1.4 sport TSI which is going for around $95k rather than a new altis.

 

I ve heard before dat ppl who buy car become stuck with it although they dun want it cos they unable to sell as they can't afford the top up of the balance loan. I would say this is the group that may benefit from this which is the group of ppl who want to exit car ownership - they can now sell of their car without much top up. who knows maybe can even get money back.

 

Exactly. In a perfect market, COE goes up by $x amount, your resale goes up by $x amount.

Unfortunately, people tends to forget about middleman fees, admin fees, etc.

In real world, any transactions comes with a cost, in the case of selling and buying car, 2nd dealer margins and SE commissions plus any admin fees.

 

[Evillusion]

2012 coming fast and furious so the miw need money fast to book a place on the ark! 1 billion per head. Thats where our hard earned money going lah! I better buy a sampan now.

[Pisces69]

sorry that is pipe dream....PAP will not kill off a big revenue pipe line for the ministers. If u r one of the Pigs in George Orwell's Animal Farm would you release all the animals in the farm?

 

The only way is to kill the Pig to change the system....

 

 

OMG This a bit drastic n to post in open forum also very dangerous.