Today crazy coe

[Good-Carbuyer]

One of my colleagues just make similar comment

[Good-Carbuyer]

I am musing to sell mine or not, or when?

[Proton_neutron]

It is just a matter of adjusting expectations down. That is what I did. Either from looking for brand new change to pre-owned or changing to a "cheaper" brand/model. For e.g. instead of buying an Altis, buy a Vios instead. It is the marginal owners who were intending to buy the really budget cars that or those who don't really want a car badly enough or those who die die must have a certain type of car that get squeezed out.

 

But for the majority, they will just adjust expectations down and accept that their budget fetches a "lesser" (so to speak) car. So demand will still be there.

 

 

 

People who are smart wouldn't be buying brand new Japanese cars now.....they'll just top up more on their loans to get conti.... or better still, top up to get a luxury marque....

 

for those who have budget constrains, they'd probably be looking at 4-5yr old Japanese/ Korean rides, or even conti's such as Renault/ Opel....

 

it just doesn't make sense to buy a $80k 1.5L sedan now, when just a few months ago, it was selling at around $60k....

 

might as well get a 5yr old one at $40k?? You save $20k, and japanese cars are quite trouble free and can last quite long (well, its really up to you to attend to the problems or not)....

[SimonTan]

I like your argument Sell high buy high.

That's true for people who has a car now. This group will not worry about coe up or down, as the old car will worth something when it's time to replace with a new one 5years down the road.

 

The beauty of COE system in Singapore is really a non issue for existing car owners as the replacement cost of the expensive new car, will be equally conceded by the high resale value of old car! Nett nett, will not have much effect.

Meaning if New car COE were to up by $30k suddenly, then the second hand car market will also reprice the old cars at a $30k premiums higher.

 

[13177]

Today the price of the COE still not consider high enough! $47K for Cat A, i think still not consider very crazy! But $62K for Cat B, i wld think super crazy! During the low COE period, u can get a quite nice and decent car for $62K liao!

Edited December 8, 2010 by 13177

[Alim]

Best lah..ERP up, Petrol Up, COE up...kopi price up...what else.

 

Don't be like that, COV got come down a bit.

 

[Proton_neutron]

Singaporeans are cash rich....

 

if they've been saving the past few years, stashing up $100k in the bank ain't impossible....

[Bystander50]

WOW 100k....

 

Just forbid the authorised agents or car sellers from bidding and allow car buyers to bid themselves, I'm sure COE price will plunge southwards.

Right now, these are the people determining the COE price.

 

The gov knows this and will render this cash cow useless, which is why they are not doing anything.

The COE system will still be able to control the number of vehicles on the road, only that the piece of paper will cost less.

Self bidding is not difficult, cut off the middle man and you'll save $$$.

 

[Sllee1974]

actually not expensive lah.if home 1 million car 100k reasonable what

[Allied]

1) I'm pretty glad that the COE is high, so as to make ppl think thrice about owning a car, which the question is "Do they really need one?"

 

-> This is to those of lower/middle income family. If to fork out this high COE to owe a car, i think taking a cab is far more cheaper (Though you might have to wait/queue for a while, and at times when u need a cab, it just dun appear -> Owe a car = convenient)

 

-> I personally prefer BMW, but due to work, without a car, i'm without a job.

 

-> There are simply too many cars in SG. For example,in a public holiday, i was caught in a serious jam after Tuas Checkpoint, just after the linking bridge (Still got about less than 5km to reach JB customs, i think), 90% are SG cars and it took me almost 3hours to reach JB Customs, "4" lanes were packed with cars. (This is just 2nd link, how about the jam at 1st link/woodlands?)

 

-> How about SG highway jams? CTE/PIE Changi/Tuas/AYE/TPE in the morning and evening?

 

 

2) For high COE, maybe some rich families buying cars for their children, maybe a number of rich PRs also buying for themselves/children, maybe some ppl in the oil& gas industries, LTA, PUB,and some government sectors getting fat bonuses?

 

[Pisces69]

Singaporeans freaking rich. Dun mind paying such amt for coe...I can understand for CAT B which typically are made up of mercs, bmw, audi and lexus buyers..but for CAT A? I thought no matter how tight the coe quota supply is, once it reach a certain premium level, people will just stay away from it and there is a limit to how much it can go up..but no, there are people who buys bread and butter cars whom are willing to pay 47k for the coe..I find it incomprehensible...

 

These r e pple who wil cry like crazy when COE drop to those low $10k plus levels n their car value also drop accordingly. Want to sell also cannot cos owe finance so much n ty get so little back, must top up tens of thousands just to sell car.

 

Then u wil see record number of fairly new n very good condition cars being scrapped cos nobody want to buy such overpriced cars wh high COE.

 

I saw it last time n i wil see it again. The cycle wil always repeat itself. Mainly those new drivers who never experience e high n low cycles of e COE wil get caught with their pants down.

 

[Bystander50]

you can't limit people who are willing to spend tonnes of money on cars what....

 

how can you restrict business???

 

Isn't controlling the numbers of COE restricting business?

There are many ways to issue a COE without having this crazy price - by using a queue system like the one used by HDB before the BTO scheme, lottery (lucky draw) or incentive schemes (encouraging couples to have more kids) ... etc

 

 

[Minikong]

ur mz6 mps out of my budget bro. besides my gf can only drive auto. :(

 

get mcs then, best ride expeirence for 1.6 and below car

[Allied]

I think PRs can also buy cars...

 

In fact, there are a few PRs staying around my area/HDB, which own big cars

- Indian: E250 (new)

- Chinese: BMW520i (changed from Accord 2.4A)

- Indian: BMW525i (new)

- Chinese: VW Tiguan

- race unknown: Merc CLK

- race unknown: BMW 6series

- Chinese: Mazda 6MPS (new)

 

Singaporeans are cash rich....

 

if they've been saving the past few years, stashing up $100k in the bank ain't impossible....

 

[Proton_neutron]

Isn't controlling the numbers of COE restricting business?

There are many ways to issue a COE without having this crazy price - by using a queue system like the one used by HDB before the BTO scheme, lottery (lucky draw) or incentive schemes (encouraging couples to have more kids) ... etc

 

 

not restricting business.....

 

it's controlling the number of new registered cars on the roads....

 

its no wonder many new car distributors are going into used car sales as well....balances out the high and low COE prices.....

[Iisterry]

A Minisrty For Trnasport Spokesman - Tan Ah Chee

 

Nowhere in the world do you find a city like ours. From a backwater fishing village with bicycles as the primary mode of transport, we gradually evolved to $100,000 Corollas. Nationalism was created with our "Vehicle Ownership Scheme".

 

The car ownership experience is a powerful way of bringing people together, and in rooting people to the larger community. Beyond providing basic transportation needs, the Ministry also build ERP gantries to facilitate smooth travel.

 

Over the years, the Ministry reviewed its policies regularly to meet the evolving needs of Singaporeans. For instance, the Ministry sensed that the 7 year loan was pricing many young aspirants out of the market. This led to a whole new slew of rules & regulations designed to make sure that car ownership is affordable to the people by using the DSR (debt service ratio). We now boast one of the highest penetration rates for car ownership in the world.

 

The Ministry believed firmly that “this was a scheme that would give every citizen, every family, a stake in the wealth of the country as it developed.” Today, the car is a valuable asset to many Singaporeans.

 

Moving forward, the Ministry expressed optimism that the car is an “asset” which will continue to appreciate in value so long as Singapore’s economy is doing well. One can also monetize their asset for retirement by downgrading to a smaller car such as a Porsche from a Lamborghini. To facilitate downgrading, we will continue to invite more car manufacturers into the city, recent entrants such as the Tata & the Chery have widen the reach for many Singaporeans. Gone are the days where one has to trudge endlessly simply to be able to attend school.

 

There have been suggestions that the Ministry should implement 20 year COEs to further improve affordability as well as the inclusion of a Lease Buyback Scheme. The Ministry takes all feedback seriously and are now considering the merits of this case.

 

My Singapore, Now & Forevermore!

Edited December 8, 2010 by Iisterry

[TandemAssassin]

People who are smart wouldn't be buying brand new Japanese cars now.....they'll just top up more on their loans to get conti.... or better still, top up to get a luxury marque....

 

for those who have budget constrains, they'd probably be looking at 4-5yr old Japanese/ Korean rides, or even conti's such as Renault/ Opel....

 

it just doesn't make sense to buy a $80k 1.5L sedan now, when just a few months ago, it was selling at around $60k....

 

might as well get a 5yr old one at $40k?? You save $20k, and japanese cars are quite trouble free and can last quite long (well, its really up to you to attend to the problems or not)....

 

Well. Some people don't buy pre-owned. I am one of them. Once bitten, twice shy. Oh and of course, I lack the necessary temperament to buy pre-owned. I would rate myself as 8 out of 10 on my likelihood of getting cheated by a used car dealer.

 

It takes all sorts to make the world. People are still buying brand new Jap cars. For example, the Altis is still selling well despite competition from conti brands like Renault or VW. I personally know some folks who could comfortably afford a VW Jetta and booked the Altis because they liked it a lot more. Would you still consider it smart to top up with a higher loan for a car they liked less?

 

[Bystander50]

Only way to control COE is to ask our GARMENT to intro a limited number of new applicant applying for driving licence. Just like going for examination in school. If new applicant doesn't meet the requirement just throw away the application.

 

No new driver mean no purchase of new car or used car. that is the way.

 

GARMENT using COE to control buying power is just NOT right honestly...guess everybody know is all about $$$$ lor...

 

GARMENT should formulate a max number of new driver, meaning each year GARMENT will only allow about 500 to 1000 new drivers to be ABLE to qualify for driving test, if they fail, they will have to go thru the whole cycle again and thus this will help to ease our traffic jam, traffic accidents.

 

Not only this will help new driver to treasure their licence, it will also give a signal to all old drivers if they have their licences revoke. They will have to wait for years to have their chance for a driving test. It creates safety driving instead. Good right?

 

This restriction also able to increase the revenue of all public transportation, because old driver had their licence revoke and public transports are the only way for their travelling needs. So why not intro this ASAP????

 

I really don't wish to buy a car where i need to fork out another sum of money to buy a piece of paper worth the more than the OMV value>.Is crazy man!

 

Gosh...can somebody speak up??? can somebody write to our GARMENT?

 

You think you'll get a reply or will they do anything?

At most your reply will be a templated answer.

 

Just mark your X wisely on the piece of paper during erection. It is more probable to see changes than writing in.