COE solutions??

[Hondacub777]

You need to understand that COE price is not decided by the government, only the quota. If want COE to drop, ask people to id lower leh. What the Government can do, is to ensure that the windfall from COE can be used to channel to good use, say, lower public transport prices, instead of the genetic, go to reserve, or government budget.

 

Think about it, 100 COE at 100k, thats would be 10million, divide by 2000 bus drivers, & you get 5000 per person, divide by 12 months, & you get about $410 a month more. So you see, just 100 COE will be sufficient to give the bus driver a much better pay, & the nonsense of the fare need to increase & strike will not happen at all.

Well said!

[Jman888]

I am counting down to send my car to graveyard [bigcry]

[Wind30]

Yes, let the government take all the s**t. This is the easiest way out. But do remember the government is here to take care of ALL of us. The government's money is not the government's money, it is the finances of the country, of everyone past, present and future.

 

Was your proposal mathematical proven? Did you run a simulation or have a computational statistical model to show that it works? Be open to feedback, not everything you think is right is right.

 

Why does the state wants to help people buy new cars? Singapore has a working population of 3 million. We currently have about 700, 000 private cars. If every working adults wants a car, do you think any system will work? Probably the high road usage charge system is the closest to enabling all to own a car.

 

It is easy to propose ideas and it is damn hard to find flaws in one's own reasoning. Just like when you defended your proposal by saying that it is mathematics when what you have is just an idea of a seemingly perfect picture in your head. I doubt that you have even opened an excel spreadsheet and name it "My Brilliant Proposal for COE", don't tell me about number crunching.

 

ok since you are not willing to do a little maths, let me explain it to you.

 

COE by its nature is a DEPRECIATING asset that drops it value 10% a year. Now do you understand why it is so hard to make money speculating in COEs??

 

My scheme basically take the average of current and initial price so a 20% increase in current price will only translate to a 10% gain.

 

Based on the two facts above, it is very easy to stop speculation by allowing this increased rebate to kick in only after you hold the COE for X years. 2-3 years should be enough to make speculation a folly for anyone who wants to try.

 

Example, if the increased rebate only kicks in after three years, after taking into the depreciation of 30% after three years, the COE price has to rise by 84% for you to just BREAK EVEN. For you to make a pathetic 10% profit over three years, the price has to go up by 104%, making speculation a folly for all.

[Wind30]

I tell you guys what, there is a truly workable solution to reduce COE prices. I give up driving, you give up driving, ask your friends & relative who do not really need to drive to give up, so people who really need the car will be able to get it cheap. Good right, because we are really concern about fellow Singaporeans that really need car, & our solution is not to benefit ourselves? Right?

 

If most of us are honest, many of us wished others to give up driving, we really do not care who, or why. You will not wanted to give up driving for the benefit of others who need it more than you, because, you think you need the car, like your friends & relative, think the same, & others should give up.

 

That is why I am saying let those people who is willing to buy $80k COE pay money to those singaporeans who do not really need to drive. Simple right? Government is the middle man and take some commission. Brilliant :)

[Bensonscu]

You need to understand that COE price is not decided by the government, only the quota. If want COE to drop, ask people to id lower leh. What the Government can do, is to ensure that the windfall from COE can be used to channel to good use, say, lower public transport prices, instead of the genetic, go to reserve, or government budget.

 

Think about it, 100 COE at 100k, thats would be 10million, divide by 2000 bus drivers, & you get 5000 per person, divide by 12 months, & you get about $410 a month more. So you see, just 100 COE will be sufficient to give the bus driver a much better pay, & the nonsense of the fare need to increase & strike will not happen at all.

 

totally agreed. time to scrape the COE.

[MadDog70]

When do you all think the COE will fall?

[macrosszero]

When do you all think the COE will fall?

 

Full blown recession. Jobs are lost. People can no longer afford to service their car loans and are forced to sell their cars cheaply. No one can afford to buy new cars, banks are no longer giving out easy loans. New car sales plummet.

[Myxilplix]

How about instead of a balloting system, a queue number system is implemented with fixed COE prices(eg. 25k Cat A, 50k Cat B or 50k/75k or more or less)? That way there is no luck of the draw, just that you have to wait for your turn to get your COE depending on how many people are ahead of you in the queue and the quota of COEs released every two weeks. Payment for COE made upfront during application/issuance of queue number. Same deal as before, COE non-transferable, application can be cancelled for refund based on appeal, with admin fees applicable.

 

Cannot tahan the wait? Go for used car lor. People wanna make quick profit by onselling new cars? Let them, see how much the market is willing to support and how much more people are willing to pay for a 2nd hand car as compared to waiting for a new car, especially in an environment where a pegged COE rate keeps car prices stable with minimal chance of the price jumping 10-20k in a few months (not like the mad scramble we've been having because of upcoming quota cuts). Plus the people looking to make a profit by onselling will also have to wait in queue like everyone else. On the financing side banks will not loan as much for a 2nd hand car as compared to new(for those high loan people), so how much cash you willing to fork out for 2nd hand car vs new (exact same model)? Maybe for higher end rare models you might be able to turn a profit, but i doubt so for b&b cars. But the target demographic for high end models might not be so interested in used cars anyway (look at all the low mileage exotic cars for sale, but the rich people rather go for new ones).

 

Everybody must queue, fair or not? First come, first served.

 

Add to this an increase in usage charges like some others have been suggesting, and perhaps tweaking the COE categories as well.

 

 

 

 

[Aventador]

I don't really know what changes will help

 

But I know that for suggestions like

 

1) lower car loan percentage

2) COE no loan allowed

 

This is not going to help make cars more affordable . Many of you think these changes will drive out the marginal owners, but the truth is that it will just benefit the rich

 

To some of you, you think car price of $100k to 200k is so amazing. The truth is that there are more than enough people who can pay this amount upfront in cash without a loan

 

It will be the mass market that will be left out with such rules

[Atonchia]

How about instead of a balloting system, a queue number system is implemented with fixed COE prices(eg. 25k Cat A, 50k Cat B or 50k/75k or more or less)? That way there is no luck of the draw, just that you have to wait for your turn to get your COE depending on how many people are ahead of you in the queue and the quota of COEs released every two weeks. Payment for COE made upfront during application/issuance of queue number. Same deal as before, COE non-transferable, application can be cancelled for refund based on appeal, with admin fees applicable.

 

Cannot tahan the wait? Go for used car lor. People wanna make quick profit by onselling new cars? Let them, see how much the market is willing to support and how much more people are willing to pay for a 2nd hand car as compared to waiting for a new car, especially in an environment where a pegged COE rate keeps car prices stable with minimal chance of the price jumping 10-20k in a few months (not like the mad scramble we've been having because of upcoming quota cuts). Plus the people looking to make a profit by onselling will also have to wait in queue like everyone else. On the financing side banks will not loan as much for a 2nd hand car as compared to new(for those high loan people), so how much cash you willing to fork out for 2nd hand car vs new (exact same model)? Maybe for higher end rare models you might be able to turn a profit, but i doubt so for b&b cars. But the target demographic for high end models might not be so interested in used cars anyway (look at all the low mileage exotic cars for sale, but the rich people rather go for new ones).

 

Everybody must queue, fair or not? First come, first served.

 

Add to this an increase in usage charges like some others have been suggesting, and perhaps tweaking the COE categories as well.

 

 

If I have $$$ then pay someone else to queue.

 

See the property launch queues one will understand.

 

Just pay that person for using the name for queuing and registration.

 

So in the end back to sq one.

[Bensonscu]

When do you all think the COE will fall?

 

 

1.any crisis triger the recession.

2. before 2016 GE.

[Myxilplix]

If I have $$$ then pay someone else to queue.

 

See the property launch queues one will understand.

 

Just pay that person for using the name for queuing and registration.

 

So in the end back to sq one.

 

You pay someone to queue also must wait same amount of time as compared applying for yourself. If you want to pay someone ahead of you in the queue, you need to find those people first. If the COE non-transferable, you also gonna pay for the car and have it registered under someone else's name as well, then subsequently do a transfer of ownership? How many people would actually pay a premium for this, when you can just apply for a queue number yourself?

[Maseratigood]

I tell you guys what, there is a truly workable solution to reduce COE prices. I give up driving, you give up driving, ask your friends & relative who do not really need to drive to give up, so people who really need the car will be able to get it cheap. Good right, because we are really concern about fellow Singaporeans that really need car, & our solution is not to benefit ourselves? Right?

 

If most of us are honest, many of us wished others to give up driving, we really do not care who, or why. You will not wanted to give up driving for the benefit of others who need it more than you, because, you think you need the car, like your friends & relative, think the same, & others should give up.

 

From the many posts, it seems people are happy to have a car, but not drive it often, hence the scape COE, & pay by millage system. Its just shifting the problem, without COE there will be no control over car population, & nothing stopping everyone to drive out on the same day, resulting in massive jam.

 

You can say you make certain day like CNY/Hari Raya period more expensive, then it not only defeat the purpose of a car, but also will receive massive complains from people to government trying to make money on festive seasons. Like I said, shifting one problem to another.

 

Also we have problem with finding parking already, & allowing more cars will make matters worst. So arte people suggesting tearing done existing MSCP to make taller ones, but how about the ones in commerical building & malls? Surely you can't tear these down to expend their capacity.

 

The only benefit of Scraping COE hence making buying car more affordable, is to have a car, for the sack of having a car.

 

If we are truly concern about fellow citizens, we would have think of better efficiency, accessibility, speed & affordability to get from point A to B. Maybe having taxi stop per Neighborhood area, like bus stop, & have a button to activate that you need a cab, for people that need to use a cab. Having special vehicles with train paramedics in each neighborhood to catered to senior citizen need & emergency. Things a long these lines, instead of thinking of ways to make car more affordable, or which group of people should get discount on cars.

 

A lot of the problems we have is due to the self centered society we have, (maybe not you, but someone near you), not the government fault, not your neighbors' dog fault, not FT/FW faults. We complain about to much FT/FW, but conveniently left out that they also contribute to your properties price appreciated every year, or the rental that you conveiencely collect from some of them. We mention some part of city have turn into little (insert a foriegn city name), but left out you may have hired one or more of them.

 

We complain about insurance premium increase, blame workshops, blame insurance companies. Who opened these workshops? MNC? many owners are fellow Singaporeans as well, at least the ones I been to. Also if we did not drive so aggressive & keep such a close distance, much of accidents can be avoided. In a country where end to end is less than 60km, & most journeys are probably 40mins or less, why the hell we need to rush? Whos fault is this.

 

Government & FT/FWs are easy targets to fault, but how many of us look at see that the society is a mirror of our action & decisions. You think the Goverment will still be the Government today if they did not catered to the need or want of many people?

When public transport, including taxis maybe, is really efficient and affordable, like in HK, things will be different here with regard to the strong desires to own and drive a private car.

 

As for high and ever increasing insurance premiums, this may be a result of a few workshops/owners making faked claims, plus careless drivings. Others drivers who drive carefully and never make faked claims suffer because of the former "blacksheeps" (or dickheads).... why "punish" the good drivers when it is the dickheads who make (faked, or big, or repeated) claims which hits the bottomlines of the insurance campanies making them up the premiums?

[Kiadaw]

When public transport, including taxis maybe, is really efficient and affordable, like in HK, things will be different here with regard to the strong desires to own and drive a private car.

 

As for high and ever increasing insurance premiums, this may be a result of a few workshops/owners making faked claims, plus careless drivings. Others drivers who drive carefully and never make faked claims suffer because of the former "blacksheeps" (or dickheads).... why "punish" the good drivers when it is the dickheads who make (faked, or big, or repeated) claims which hits the bottomlines of the insurance campanies making them up the premiums?

You think so, people will find other reasons to justify car ownership, if you look into even this thread, most of the argument to own a car isn't even strong. The occasional use of car can be mostly covered by taxi or rent a car.

 

If you look at the accident rates & the average claims, there is much more than a few blacksheeps, its pretty widespread. You can see it everyday when you drive, poor, inconsiderate, red lights beaters & aggressive drivers are hardly rare occuarances.

 

Also, how do insurance company identity who are the backsheeps? People who get into accident already have to pay a higher premium. If they classified more throughly, it can be damn prejudice, which is another problem. The only thing that can maybe check is accident rate & if an individual repeatedly break traffic rules.

 

It hard to blame insurance company really. If want to blame, blame the backsheeps you mention.

[Atonchia]

You pay someone to queue also must wait same amount of time as compared applying for yourself. If you want to pay someone ahead of you in the queue, you need to find those people first. If the COE non-transferable, you also gonna pay for the car and have it registered under someone else's name as well, then subsequently do a transfer of ownership? How many people would actually pay a premium for this, when you can just apply for a queue number yourself?

 

Sure have people sell online like those selling NDP tickets.

 

[Myxilplix]

Non-transferable how to sell? You submit the application and payment for the COE, can only be used to register a car in your name.

[Cerano]

Sure have people sell online like those selling NDP tickets.

 

imho willing seller willing buyer but maybe scalpers should be fined

[Wind30]

How about instead of a balloting system, a queue number system is implemented with fixed COE prices(eg. 25k Cat A, 50k Cat B or 50k/75k or more or less)? That way there is no luck of the draw, just that you have to wait for your turn to get your COE depending on how many people are ahead of you in the queue and the quota of COEs released every two weeks. Payment for COE made upfront during application/issuance of queue number. Same deal as before, COE non-transferable, application can be cancelled for refund based on appeal, with admin fees applicable.

 

Two problems,

 

1) how do you fix the COE prices? It is not that simple. Usually prices is dictated by the market but if you remove that, you must find some way to peg the price right?

 

2) if the price is set at $25k, based on today's price, quite a lot of people will cheong and queue. So how to decide who comes first??? Is it an online, or physical queue? If too many people, it ends up like balloting.