Time for new policy

[Yeshe]

I remembered this has been discussed previously. With the COE surging north fast n furious, I think its time to ban ADs from bidding COE on behalf of the buyers. Instead I feel that buyers should bid their own COEs and ADs just sell the cars without COE. That way the car price is more transparent and COE will be more controlled since there will not be frenzy bidding due to hunger for sales.

 

what do u think?

[Icedbs]

err.....I rather AD bid the COE for me. Too much hassle to do it myself......need to work you know?

[Jman888]

then it become the rich man control the pricing [laugh]

[Galantspeedz]

I remembered this has been discussed previously. With the COE surging north fast n furious, I think its time to ban ADs from bidding COE on behalf of the buyers. Instead I feel that buyers should bid their own COEs and ADs just sell the cars without COE. That way the car price is more transparent and COE will be more controlled since there will not be frenzy bidding due to hunger for sales.

 

what do u think?

 

aiyo i say before liao...... currently, individual buyers are already allowed to bid for COE themselves.

 

But to bid a COE, you got to put a $10k deposit with LTA.

 

Just tell AD or PI that you want to bid your own COE and they will give you the list price of the car only.

[Yeshe]

err.....I rather AD bid the COE for me. Too much hassle to do it myself......need to work you know?

 

its a bit of a hassle, but becos of these ADs, we are seeing the COE prices at the current levels.

and seriously, u can just place your bid price in the system. if u kena, the COE price is the lowest bid of the secured bids, not the price u entered. The other good thing is that COE bidding have to have CASH so eliminate another problem of no $$ wanna buy car syndrome

[Yeshe]

aiyo i say before liao...... currently, individual buyers are already allowed to bid for COE themselves.

 

But to bid a COE, you got to put a $10k deposit with LTA.

 

Just tell AD or PI that you want to bid your own COE and they will give you the list price of the car only.

 

i know u can, but i mean BAN the ADs from bidding on buyer's behalf. if buyers too rich n find it troublesome, they can still buy from AD with their open cat COE

[Galantspeedz]

i know u can, but i mean BAN the ADs from bidding on buyer's behalf. if buyers too rich n find it troublesome, they can still buy from AD with their open cat COE

 

i think not very viable... the problem lies with the $10k deposit...... not everyone has $10k + another 10% downpayment for car.

 

and then imagine.... you got the COE... now you order the car... but the car due to some problems come in 7 mths later... your COE become waste paper because it is not registered within 6 mths...

Edited December 13, 2010 by Galantspeedz

[Yeshe]

i think not very viable... the problem lies with the $10k deposit...... not everyone has $10k + another 10% downpayment for car.

 

then precisely these people shouldnt buy cars?

[Yeshe]

i think not very viable... the problem lies with the $10k deposit...... not everyone has $10k + another 10% downpayment for car.

 

and then imagine.... you got the COE... now you order the car... but the car due to some problems come in 7 mths later... your COE become waste paper because it is not registered within 6 mths...

 

all these tweak needs to be done IF it is to be implemented.

[Sleepy-T]

I remembered this has been discussed previously. With the COE surging north fast n furious, I think its time to ban ADs from bidding COE on behalf of the buyers. Instead I feel that buyers should bid their own COEs and ADs just sell the cars without COE. That way the car price is more transparent and COE will be more controlled since there will not be frenzy bidding due to hunger for sales.

 

what do u think?

do u actually think the goerment will let u do this,

I'm suprise of u

[inlinesix]

err.....I rather AD bid the COE for me. Too much hassle to do it myself......need to work you know?

It is not hassle at all lah. Set @ ur target price. Don't get it? Bid another time lor.

 

If u bid it urself, u will try to get it @ the lowest price.

 

If AD bid, AD will try to get it @ whatever price to secure sales.

[Icedbs]

It is not hassle at all lah. Set @ ur target price. Don't get it? Bid another time lor.

 

If u bid it urself, u will try to get it @ the lowest price.

 

If AD bid, AD will try to get it @ whatever price to secure sales.

 

Ok..if I set it at $1. Will I get it?

[Galantspeedz]

then precisely these people shouldnt buy cars?

 

i agree but when 0% downpayment and 100% loan was implemented. It was to boost the economy which was under recession at that time.

 

I agree we can implement new rules now but any effect will only be seen earliest 5-6yrs later cuz those that bought during that time will continue to drive till at least end of COE

[Galantspeedz]

Ok..if I set it at $1. Will I get it?

 

if no. of bids is less than quota or if everyone bid @ $1 then yes you will get it....

 

but you still got to pay $10k deposit even if you bid $1

[Icedbs]

if no. of bids is less than quota or if everyone bid @ $1 then yes you will get it....

 

but you still got to pay $10k deposit even if you bid $1

 

Ok..tell me how does it work...

 

say quota is 100 car........and 100 people bid.

 

I bid $1. The 2nd guy bid $2, 3rd guy $3 and the 100th guy bidded $100.

 

So will I get it at $1 or at $100?

 

Also when can I get back the deposit?

[Forrestcat]

then precisely these people shouldnt buy cars?

 

Yes bro, i totally agree with you....

Bring back the min 30% downpayment thingy & perhaps we should see some effects

 

[Crazecow]

Actually, why even bother to bid so troublesome? Just fix the price of COE at a certain amt subject to monthly or bimonthly review.

 

Then don't need so troublesome to have Cat A B etc.... All Open Cat. Set at 100-200K or more if necessary. Then confirm can control car population. It will also make our road nicer as it will be filled with MErcs, BMWs, Audi and other luxury brands (since only rich can afford them).

 

Get rid of motorbikes as well since they will never pay 100K COE for a motorbike unless its a Harley or something.....

 

I don't believe in all these so-called market forces behind COE bidding. All these COE prices are all controlled one.

[inlinesix]

Ok..tell me how does it work...

 

say quota is 100 car........and 100 people bid.

 

I bid $1. The 2nd guy bid $2, 3rd guy $3 and the 100th guy bidded $100.

 

So will I get it at $1 or at $100?

 

Also when can I get back the deposit?

If i am not wrong, u will get it @ $1. U will get a refund of $9,999 upon successful bid one day after.

 

My cousin bid his own COE & got it @ $1. In the end, he bought VW Golf.

 

Can also write into LTA to appeal for extension of Temporary COE.