Hotshot85 4th Gear January 17, 2013 Share January 17, 2013 eh old fart our gen diff.....we saved then buy...now is instant gratification..... Not true leh, my ride is a 2nd hand one haha. ↡ Advertisement Link to post Share on other sites More sharing options...
Aventador 6th Gear January 17, 2013 Share January 17, 2013 Just my personal view: There are many ways to place restriction on car ownership. E.g. put a minimum 5% interest on loan. cap of 60% loan etc. So why just COE was used ? Reason is simple. $ goes into the Lt@ pocket. Any other means will not give them similar amt of profit. And ERP , Road Tax etc. They are hedging instruments for the LT@ profit. On the other hand, raising ERP or road tax too high also increase the cost of operating business here. As much the g0v can , they will not increase this crazily since it is in a way claimable from company. You must be probably below 30. All the things you talk about - high interest rates, loan cap, government not raising road tax too high were in fact realities in the nineties Back then road tax was much higher than today, ARF tax was much higher, interest rates were higher, loan cap was 70%, ERP to town was $3 (in the nineties) And yet the COE was a record high at $100k++ back then Link to post Share on other sites More sharing options...
Aventador 6th Gear January 17, 2013 Share January 17, 2013 People that suggest loan caps , higher interest rates, higher ERP as ways to bring down the COE, so that the 'middle class' are not squeezed are actually saying - please make the COE affordable for my specific income level. These measures will make cars even less affordable for the lower middle income groups. But it is ok to kick out this group of aspiring car owners, just as long as "I" can afford the COE, screw the rest below me. So it is wrong and a tragedy that the richer people are squeezing ME out of car ownership, but please make it more difficult for those poorer than me to own a car, so that I can own a car at my income level. Link to post Share on other sites More sharing options...
Darryn Turbocharged January 17, 2013 Share January 17, 2013 Lucky you are not a bank otherwise . In the past there was a COE crash, the value of the cars dropped a lot. Many cars had negative equity, which means after sale proceeds still need to top up bank. Property is very different from cars. Cars lifespan is 10 years...sigh..I think ...nvm..U win k? I'm talking Coe, not cars. Coe down same amount every year, once buy can cash in Coe anytime and value guaranteed by govt. Link to post Share on other sites More sharing options...
Darryn Turbocharged January 17, 2013 Share January 17, 2013 What!!!? U want gov to hav the money!? U believe they gonna pour all the money back to public transport? In your dreams! More like in their ever fattening salary! Yes, I'd rather the govt have it than it go to some lucky ballot winner or the person that gets the appropriate license or has cash can put into 3 month lock down or whatever. Do not that making sure the govt does the correct thing with it is a separate challenge Link to post Share on other sites More sharing options...
Warthog Clutched January 17, 2013 Share January 17, 2013 You must be probably below 30. All the things you talk about - high interest rates, loan cap, government not raising road tax too high were in fact realities in the nineties Back then road tax was much higher than today, ARF tax was much higher, interest rates were higher, loan cap was 70%, ERP to town was $3 (in the nineties) And yet the COE was a record high at $100k++ back then He is not below 30. He is probably 50+ like liang zi qiang (money no enough). Everyday complaining government making money on our misery. Everything you not happy is because of the government. Blah blah blah... Link to post Share on other sites More sharing options...
Simplecar 4th Gear January 18, 2013 Share January 18, 2013 Please dont forget the other side of the coin - people who have gotten their COEs in the past. It would not be fair to pander only to the future COE bidders as any change to these COE prices would affect the selling prices of their vehicles. Since the system is already in place, the changes should be tweaked, like what one forumer said earlier, and not changed so drastically that the resale prices of old cars are affected. Link to post Share on other sites More sharing options...
Zanter 3rd Gear January 18, 2013 Share January 18, 2013 I'm talking Coe, not cars. Coe down same amount every year, once buy can cash in Coe anytime and value guaranteed by govt. The bank lend you money is for whole car. The COE co-exist with the car and cannot be separated. When COE corrects which I believe it will, many cars will be in negative equity. Meaning even sell away not enuff to pay back loan whihc is often the case with 100-80% loan and it has happened in the past..maybe you were lke in ur teens then . Cos of this potential shortfall, the banks will be at risk. So what does guaranteed by govt to do with anything? The bank cannot just repo the COE and sell to someone else doh! Link to post Share on other sites More sharing options...
Zanter 3rd Gear January 18, 2013 Share January 18, 2013 Please dont forget the other side of the coin - people who have gotten their COEs in the past. It would not be fair to pander only to the future COE bidders as any change to these COE prices would affect the selling prices of their vehicles. Since the system is already in place, the changes should be tweaked, like what one forumer said earlier, and not changed so drastically that the resale prices of old cars are affected. I wonder if coe at 200k if this current garment will be in power of not Link to post Share on other sites More sharing options...
Zanter 3rd Gear January 18, 2013 Share January 18, 2013 Buy a condo and get a free car. If COE continues to go up like this, then it will be buy a car & get a condo for free! Link to post Share on other sites More sharing options...
Cars08 1st Gear January 18, 2013 Share January 18, 2013 (edited) I think govt shld jus scrap COE then no COE problem lor ... increase road tax, increase ERP, increase carpark charges high high for pte cars..... slap higher carbon emission onto pte cars.... restrict car lifespan say 5 yrs on the road...... Allow jams so that ppl affected will give up driving and switch to alternative... Edited January 18, 2013 by Cars08 Link to post Share on other sites More sharing options...
Actan72 5th Gear January 18, 2013 Share January 18, 2013 (edited) I think govt shld jus scrap COE then no COE problem lor ... increase road tax, increase ERP, increase carpark charges high high for pte cars..... slap higher carbon emission onto pte cars.... restrict car lifespan say 5 yrs on the road...... Allow jams so that ppl affected will give up driving and switch to alternative... Ha ha... why should they scrap COE when it is a cash cow to them... they generate millions each bidding... I won't if i am them as this is good source of income... who cares about traffic conditions.. pocket more important... sometimes just wayang wayang abit here and there.. show face in MRT... more importantly is the money coming in.... [rolleyes] Edited January 18, 2013 by Actan72 Link to post Share on other sites More sharing options...
Jojoman Neutral Newbie January 18, 2013 Share January 18, 2013 if you all ever go to KL or gangkok and JKT and see the traffic jam... maybe you will be slighty feel better witht he COE... HAHAHAHHAHA Link to post Share on other sites More sharing options...
Jojoman Neutral Newbie January 18, 2013 Share January 18, 2013 the coe serve as a good economic tool ! how many of us are paying loan to bank every month? keping singapore economic alive. haha Link to post Share on other sites More sharing options...
Zanter 3rd Gear January 18, 2013 Share January 18, 2013 the coe serve as a good economic tool ! how many of us are paying loan to bank every month? keping singapore economic alive. haha Yeah then when we old and no $ cos we spent it all on cars, will government pay for our food & medical bills? Maybe hor ? Link to post Share on other sites More sharing options...
Mockngbrd Supersonic January 18, 2013 Share January 18, 2013 (edited) nobody like my idea of removing COE but imposing very high ERP charges. (at least $20 a pop into CBD) commercial vehicles get exceptions during certain timings. everybody get to have a car, but see if they want to drive or not lor... (and pay parking fees also) Edited January 18, 2013 by Mockngbrd Link to post Share on other sites More sharing options...
Wt_know Hypersonic January 18, 2013 Share January 18, 2013 (edited) govt had announce the "coe solution" car should be for elite and elite only ... coe $250k ... the cheapest car in singapore is $500k .... then there would be ten of thousands of cars on the road only Edited January 18, 2013 by Wt_know Link to post Share on other sites More sharing options...
inlinesix Hypersonic January 18, 2013 Share January 18, 2013 govt had announce the "coe solution" car should be for elite and elite only ... coe $250k ... the cheapest car in singapore is $500k .... then there would be ten of thousands of cars on the road only I will go JB & buy F30 333. Hire a Msian driver to ferry me around [laugh] ↡ Advertisement Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In NowRelated Discussions
Related Discussions
The Simple Solutions to Traffic
The Simple Solutions to Traffic
Any solutions to get RON 100 in SG?
Any solutions to get RON 100 in SG?
Why COE so EXPENSIVE? my 2 cents solutions
Why COE so EXPENSIVE? my 2 cents solutions
Proton Campro Engine Tips and Solutions
Proton Campro Engine Tips and Solutions
COEs prices and overcrowded car population solutions
COEs prices and overcrowded car population solutions
Radical solutions for best results: Traffic congestions
Radical solutions for best results: Traffic congestions
How to reduce traffic on the road - The Real; Solutions
How to reduce traffic on the road - The Real; Solutions