Paying for a new COE like donating money to the govt?

[Ithunk]

as above

 

sorry should be a statement not a question

Edited July 11, 2011 by Ithunk

[FastNet]

agree.....

[Pocus]

When COE is low....more people buy cars and more COE paid to gahmen.

When COE is high....less people buy cars and less COE paid to gahmen even though each COE more exp.

 

Question is....

Is gahmen earning more when COE is low or when COE is high?

 

Any mathematicians care to calculate an analysis on this?

[Dice]

Unfortunately it's the law of the land. What to do? Wan car pay loh. Dun wan then can dun pay.

[Old-driver]

Unfortunately it's the law of the land. What to do? Wan car pay loh. Dun wan then can dun pay.

Agree... not willing to pay no car to drive

 

The avatar your ride?

[Fcw75]

Find COE too high? Then buy a used car or don't drive, simple as that. Stop whining.

[Soya]

errmm.....COE has been around for like 20 years and now u finally realised this ah??....

[Jman888]

you can say that again cos

 

DONATION = WILLING TO GIVE FOR GOOD CAUSE :D

[NightWind]

Pls delete "LIKE" from your header and replace it with "IS"

 

 

By: Mellanie Hewlitt

Singapore Review

15 Jan 2005

 

COE, Parf, ARF - confused? Characteristics of The Great COE Scam

 

It is glaring that although Singapore has the world's most expensive

cars, the vast majority of car owners remain confounded by the

complicated pricing and ownership system. (See artcile from the New

Paper 14 Jan 2005 "COE, Parf, ARF - confused?")

http://newpaper.asia1.com.sg/top/story/0,4136,81225,00.html?

 

In all developed countries, buying a car is a simple and transparent

affair that is concluded between buyer and seller. The only other

third-parties involved are the insurance company and the finance

company. In Singapore a series of bureaucratic shields and paperwork

complicate the process.

 

The system is massively complicated, designed to confuse the average

car buyer. The objective is to disguise the underlying scam which

involves siphoning funds from the car owner into the bloated coffers

of the government.

 

The latest tender saw car COE premiums ending at $18,400 (up to

1,600cc) and $14,002 (above 1,600cc) - the lowest in over a decade.

The government is set to release between 100,000 to 120,000 COEs this

year. At an average COE "price" of approx SGD16,201 per COE this

amounts to a whopping SGD1,944,120,000/- in COE revenue for the

government.

 

Although the supposed objective of the COE system was to regulate

traffic flow and reduce traffic congestion, a number of

characteristic reveal the actual COE scam which has the hidden

purpose of siphoning funds from car owners.

 

The scam is Revealed via the following formulae:

 

COE Revenue = COE Price X Number of COE issued.

 

Regardless of the price of the COE, the total COE revenue collected

remains generally stable at approx SGD1.994 billion. This is because

any fall in price is compensated by issuance of more COEs hence

keeping the COE revenue relatively stable.

 

Below are some of the characteristics of the COE scam:

 

1) The illusion created by the Scam is that the price of the COE

flustuates as a result of demand and supply. In reality Car Owners

are actually providing a buffer for the government and ensuring a

steady COE income stream.

 

2) The scam also effectively encourages Car Owners to scrap perfectly

good vehicles early. 3-4 year old cars in mint condition and

purchased at very high COE prices are scrapped early when COE prices

fall. With a greater number of vehicles "retired prematurely" the

government can then issue more COEs at lower prices creating the

illusion of a COE market that is driven by demand and supply.

 

In the above scenario, the constant that is maintained is the COE

revenue. In a market that is truly driven by Demand and Supply, a

fall in demand will eventually lead to a fall in supply which will

translate into reduced sales reveunes.

 

3) It is Impossible to actually own a car in Singapore.

To ensure continuity of the COE income stream, the PAP government has

effectively made freehold car ownership in Singapore impossible. Car

Owners never actually "own" the car per say, even after spending so

much money on a piece of paper, all they actually hold is a lease

giving them a conditional revocable right to drive a car for 10 years.

 

At the expiration of this lease, the COE certificate is either

renewed via payment of additional fees by current owner, or (in event

the old owner chooses not to renew the lease) it is "purchased" by a

new bidder. Either ways the PAP government is assured of a never

ending income stream.

 

4) The scam is also revealed when a car owner attempts to scrap

prematurely. The system does not allow the car owner a cash rebate on

the balance COE. Instead, the car owner has to purchase another car

(and another COE) and deduct his COE rebates from the final purchase

price. This ruse ensures that COE money remains with the government

even when a COE is scrapped prematurely, thus assuring them of a

steady income stream, albeit at the expense of car owners.

 

5) This ruse has been used successfully for over a decade in

conjunction with a series of other hidden "taxes" (like the ERP, CPF,

GST etc) all designed to provide a cheap and ready source of revenue

for undisclosed government activities.

 

6) The scam is given a veil of legitimacy with the support of laws

and regulations. The local government owned media regularly report

that the COE system "is tightly regulated and very competitive".

 

7) A plethora of technical terms are used also add layers to the scam

and hide the underlying ruse. Terms like "COE", "PARF", "ARF", "OMV"

etc.

 

The COE scam also works in conjunction with other scams and is part

of a more elaborate process. On top of the COE, car owners also have

to pay Road Tax (which is reasonable) and also ERP (Electronic Road

Pricing) which imposes a further cost for road usage.

 

So Car owners are penalized not just for leasing a car but also for

the road usage.

 

8) Other countries like Hong Kong also successfully control traffic

and the COE concept is conspicuously absent from these countries. In

fact in Hong Kong although there is a high cost to owning a car, this

is contained in the parking fees and charges which are paid to

landlords. The main difference here is that the parking fees are

collected by land lords and channeled back into the private sector.

 

In Singapore the COE revenues totaling SGD2 billion are channeled

directly into government coffers. No one knows what happens to this

massive amount of money.

 

9) How does the government justify the existence of such a system in

the first place? After years of implementation, the original

objective of the system (which was to control traffic congestion) has

long since been lost. Traffic jams are a common occurence all over

the island especially during peak hours and even the implementation

of additional penalties like the ERP have failed to address this

problem.

 

So what exactly are Singaporeans paying for when there is no concrete

proof for justification of the system? Such an obvious scam would

have risen many questioning eyebrows in other developed nations. But

here in Singapore part of the reason for the success in the deceit

lies in the social political circumstances which are unique only to

Singapore.

 

There is basically no accountability in government administration and

the political system effectively discourages any calls for

clarifications. Law suites are used as a convenient tool to silence

political opposition members and the international press.

 

After decades of indoctrination, local citizens have adopted a spirit

of apathy and unquestioning obedience to any enforced regulations and

policies. Indeed the government scammers are sound very legitimate.

They are usually polite, friendly, personable, sincere, convincing,

and controlling; formidable foes for more trusting average Car Owner.

 

10) Social and Psychological Indoctrination are important tools in

the scammers arsenal. In Singapore, a car has been portrayed by the

government as a "luxury item" in order to justify its high price.

 

On the other hand, government policies place immense pressure on

families to reproduce and more than one child. This, coupled with

uncertain employment (and high unemployment rates of 4.50% p.a.) have

necessitated dual income families with both spouses working long 12

hour work days. The hectic lifestyle and multiple roles of both

spouses (as wage earner, parents and care-takers of their own

parents) have rendered a car a very necessary asset.

 

11) Whilst the average con artist and scammer can be reported to the

authorities, how does one seek recourse when the local authorities

themselves are part of the elaborate hoax? The picture remains bleak

for Singaporeans as there seems no way out for them from this system.

 

12) According to a BBC article, not all scams are illegal by

definition. In fact some software scams are perfectly

legal. "Unscrupulous software suppliers have been taking advantage of

software license agreements to trick customers out of anything from

 

[Jman888]

why keep quoting this idiot since 2005? why people still buying since it is a scam?

[Ladykillerz]

when COE is low, noone complain and happily paying to the govt.

when COE is high, everyone start to realise it but the govt has happily collecting such taxes since donkey years.

 

so, where does the money goes to?

 

hmmmmm.... lost in the investment.

Edited July 11, 2011 by Ladykillerz

[NightWind]

This idiot B runs Sg_Review....and if u have not noticed, what she wrote and said 5-7 years ago is finally sinking into the masses now....

 

COE Revenue = COE Price X Number of COE issued

 

6 years back with COE at SGD16k the PAP already rakes in at least SGD2 BILLION a year. Now with COE at $55-60k the PAP must be raking in at least $5-10 BILLION A YEAR. This is on top of ERP and Road Tax etc.....

 

AND NO ONE KNOWS WHERE ALL THE MONEY GOES....one clue is the million dollar ministerial salaries

 

"The latest tender saw car COE premiums ending at $18,400 (up to

1,600cc) and $14,002 (above 1,600cc) - the lowest in over a decade.

The government is set to release between 100,000 to 120,000 COEs this

year. At an average COE "price" of approx SGD16,201 per COE this

amounts to a whopping SGD1,944,120,000/- in COE revenue for the

government.

 

Although the supposed objective of the COE system was to regulate

traffic flow and reduce traffic congestion, a number of

characteristic reveal the actual COE scam which has the hidden

purpose of siphoning funds from car owners."

 

 

 

 

 

 

[NightWind]

What to do? Vote the corrupt b------ds out!! They have been sucking us for decades!!!!

 

Unfortunately it's the law of the land. What to do? Wan car pay loh. Dun wan then can dun pay.

 

[Picanto]

What to do? Vote the corrupt b------ds out!! They have been sucking us for decades!!!!

 

tell us how to vote them out

[Nightkids]

What to do? Vote the corrupt b------ds out!! They have been sucking us for decades!!!!

 

 

The best chance just passed by........

[Expertz]

why keep quoting this idiot since 2005? why people still buying since it is a scam?

 

simple

because singaporeans are like sheep

if the govt say that you must go to jail for 2 years becos you are a guy, you go to jail for 2 years

no questions asked

 

so the govt say pay $$ to drive a car for 10 years

we all pay

[NightWind]

Ok u got me there....they rigged the entire system...not just COE but also CPF, elections etc...so we cant get rid of them as long as we stick with the system rules....

 

To beat the corrupt b------ds we need to do so from outside the system......

 

tell us how to vote them out

 

[NightWind]

Thats so right!!! Spot on!!!

 

If the PAP Ministers implement a law that allows any million dollar minister to go into any sinkiepoor household and rape every woman, duaghter, wife, etc...sinkiepooreans will obey this because IT IS THE LAW!!!

 

IT IS LEGAL

 

IT IS LEGITIMATE

 

THIS IS WHAT HAPPENS WHEN THEY STOP THINKING FOR THEMSELVES, STOP FEELING FROM THEIR OWN HEARTS, STOP HAVING THEIR OWN MORAL STANDARDS, AND RELY INSTEAD ON CORRUPT POLITICIANS TO TELL THEM WHAT IS RIGHT AND WRONG!!!!

 

simple

because singaporeans are like sheep

if the govt say that you must go to jail for 2 years becos you are a guy, you go to jail for 2 years

no questions asked

 

so the govt say pay $$ to drive a car for 10 years

we all pay