LTA to explore easing tight COE supply

[Deckbuild]

Well I will be the first one to 'fess up that I buy cars not because I need to use them. I just buy them because I feel like it. No matter how high the COE is; every once in a couple of years the itch comes along and the desire to "scratch" it gets stronger.

 

This lower COE is good news; it comes just as I feel like changing cars.

 

 

From your signature, it's about time

[inlinesix]

That is why there is the new Changi business park... the trend now is for business to move away from the central area to the outer rim and the ppl will automatically move as well.

For Changi Business Park, it is more of back-office of banks.

[Enye]

Would you feel the pinch if you one time pay 100K instead of spreading the 100K over 10 years and pay per month? Consumers are willing to pay the 100K now is because of the spreading of the loan which they can take say 90% over 10 years, which turns out for a 200K car.. about $1,500 per month (assuming for ease of cal zero interest).

 

I wouldn't pay 100k cash or 100k over 10 years with added interest. I would feel the pinch both ways because there are many things I can do with 100K.

 

Even if COE prices come down because COEs had to be paid for in cash, it will still be unaffordable to the common people because of scarce supply. The rich will still outbid the common people be it cash or loan.

 

It is naive to think that when COEs are paid in cash, new cars will be within reach of the common people. It may bring down the prices but the rich still get the allocations.

Edited May 9, 2012 by Enye

[Pokyman]

Ease now and have worse traffic jams later? Doesnt make sense also.

 

We miss the point that our landmass is not expanding. Period.

[Gendut]

Most important tweaks to make going forward, keeping in mind that have to regulate traffic flow during rush hours and into CBD with push to use more public transport:

 

1. Re-categorise private passenger cars COEs into 2 groups based on OMV, with $20,000 as dividing line. As suggested by academic in the Straits Times article, bid based on percentage of OMV. Bread-and-butter car buyers and those who "need" car will gravitate towards lower OMV category. Leave the badge snobs to the higher category. It's a hidden luxury tax. Clever because branded and lux cars do have high OMV anyway. Let those status seekers knock themselves out, they will never be seen building a garage full of toyota corollas. IRAS may even be persuaded to give imcome tax rebates to buyers of low OMV cars come elections (cross-referenced to buyer's annual salary) to remind every one of their caring nature.

 

2. Smooth the number of COEs released.

 

3. Buyers bid for COEs in cash. No dealers. No hiding this tariff in the car loan. This will force all to face the quantum of their decision and realise how expensive it really is. Low interest rates and easy credit makes us stupid.

 

4. Regulate new and used car loans with 20% down payment and no full-term loans.

 

5. Dare we toy with raising COE lifespan to 20 years? Will definitely increase repairs, maintenence and recycling businesses and employment.

 

6. Move taxi bids out to the Commercial Vehicle category. But simplify those silly surcharges and raise that flagdown rate.

 

7. Continue with usage-based controls by substantially raising ERP charges for CBD entry during rush hours.

 

8. Raise hourly and season car park rates in CBD and main shopping belt.

 

9. Build more naturally shaded bicycle paths into CBD and shopping areas. Get the car park operators to run coin lockers in all MRT stations and malls for foldable bicycles.

 

10. Continue infrastructure improvements and perhaps start thinking about future such as electric charging stations and getting taxi and bus companies to buy only hybrid or electric vehicles. Continue with impending clean vehicle rebates.

 

I will add:

 

11. Change to a more competent government.

[AlanZ]

I will add:

 

11. Change to a more competent government.

 

 

Lol.. I like this point.

[Jtay]

Nice suggestions. I support 3 the most. I always feel that car is only for those who can afford it, not those who need it. Those who need to take 10 year loan for the full car price, i think it's a sign that you should not own a car.

 

As for 9, i think quite hard lah. The MRTs are already so packed in the morning, how will they ever allow people to bring bicycles onto the trains during peak hours?

 

For 10, whether cabs are electric cars or not, they are still occupying space on the roads and contributing to the congestion. Sure, it'll be more env friendly, but makes to difference to car population.

 

[Windwaver]

I suggest either we reduce population or increase land mass.

[Joseph22]

I suggest either we reduce population or increase land mass.

we can do both by going to war

 

BTW @Mllgc. why your friend dont want to take taxi. book a cab better when going to hospital.

 

the carpark fee alone enough to take cab liao. plus will be cheaper than owning a car.

[Eyke]

we can do both by going to war

 

let's send our bombers over JB and drop tissue packs to chope the land!

 

[Nf0rc3r]

let's send our bombers over JB and drop tissue packs to chope the land!

 

This one send aunties can alr no need bombers

[X3mblack]

Local men pay taxes and contribute to economy too.. why are they punished and made to do NS.

 

Welcome to the real world, where citizens of each countries are entitled priviledges while foreigners suffer. BTW, I absolutely hate people using the phrase PR contribute and also pay taxes, hence they shuould be entitled this and that.

 

I just came back from Japan for holiday and spend money and paid taxes. Should I be entitled to their social benefits then?

 

Serving NS is a privilege. It's not a punishment. Your should be proud that you are serving, defending and protecting your country.

[X3mblack]

3. Buyers bid for COEs in cash. No dealers. No hiding this tariff in the car loan. This will force all to face the quantum of their decision and realise how expensive it really is. Low interest rates and easy credit makes us stupid.

 

This is the best suggestion.

[Joseph22]

This one send aunties can alr no need bombers

aunty lucy

[Fd3s57]

in the first place singapore should not have control coe quota by ABUSING the cost . they should juz have find another way . this is alreadi far too wrong . all the government want is juz money n money . they don realli care about controlling it .

Edited May 10, 2012 by Fd3s57

[TandemAssassin]

From your signature, it's about time

 

Not about time. Is OVERDUE! Too painful to scratch this itch at current COE rates. I am growing old and used to cushy comforts. Hard to be like my young days when I can dump 100% of my salary just to feed a car; now get used to nice clothes, nice food and expensive toys.

[Joseph22]

Not about time. Is OVERDUE! Too painful to scratch this itch at current COE rates. I am growing old and used to cushy comforts. Hard to be like my young days when I can dump 100% of my salary just to feed a car; now get used to nice clothes, nice food and expensive toys.

SSS is a good car lah. dont have to change. tahan a bit, i think COE about the drop soon.

 

Lui Tuck Yew facing the heat already. [laugh]

[13177]

SSS is a good car lah. dont have to change. tahan a bit, i think COE about the drop soon.

 

Lui Tuck Yew facing the heat already. [laugh]

How much can COE drop? The most drop back to 50K level only.