COE solutions??

[Toapayohkid]

In Singapore, cars are for the rich

 

COE system is currently milking the rich

 

if you are not rich enough

 

please don't play in this playground

 

 

lol more accurately, cars now are for people comfortable with debt. rich also would borrow as car loan so low now, might as well borrow.

[Wind30]

non-rebatable... cannot lah. If car total loss how? If got a lemon, how?

LTA will be too busy to do case by case approval of rebate.

 

Then, those who paid $90k COE now will sure go to the street, even thought they are mostly from the rich and famous.

That is why I said Coe tied to person not car. If car is lemon change car lah.

 

Now is even worse. With Coe at 80k if your current car is lemon, what to do??

 

Fun understand why Coe is tied to car not person

[Windchoco]

As to "no loan for COE" I think this is a bad idea. Ultimately it will benefit the "rich", while at the same time making the total collection from COE less. Why do you want to make it easier for the already wealthy to own cars?

 

Why will this happen? By doing things like full bidding or no loan for COE, only those with big big resources will participate - those that least need a lower price COE. They are the ones that have the money, or can also can do the deposit etc and bid.

 

Price down, but more concentration of COE into the "elite" hands.

 

Think originally the intention long long ago was to control car population by allowing only ppl who are rich to buy car or poor ppl with significant amount of savings, usually those who are >35 yrs.

 

At least for me, as a poor B&B kid, I grew up in the restrictive mindset that public transport is the norm and it is not easy to own a car.

 

By allowing full bank loans, the system has created a grp of ppl who are now used to the idea that cars are easily attainable by loans and you can get 1 as a fresh grad, no problems. Earn only 2k? No prob, car loan only 500/mth ma. (50k car era)

 

Once the restrictive mindset is broken, the demand from the poor + young grp of ppl increased a lot more, adding more buyers into the market than ever before.

 

It is not good for the normal ppl in SG because I am not so sure the best way forward for a young couple is to go out there and loan 120k for a basic car, pay half mil for a resale hdb. what a headstart in life !

 

I would rather that it goes back to the previous system, at least you don't screw up ppl's lives.

 

 

 

[Kspchew]

You must be rich

 

No lar, I where got rich. Only buy 2nd hand car that is within my budget.

[inlinesix]

It is a pointless discussion lah. Millions of threads on this topic & ppl still end up paying thru their nose to buy new cars.

[Wt_know]

sounds familiar to newly wed couple buying new hdb at $500k-$800k with 35-50 years loan

on one side, govt allows longer and longer loan to make purchases affordable

on another side, longer and longer loan "artifically" makes expensive (unaffordable) item looks cheap (affordable)

 

Think originally the intention long long ago was to control car population by allowing only ppl who are rich to buy car or poor ppl with significant amount of savings, usually those who are >35 yrs.

 

At least for me, as a poor B&B kid, I grew up in the restrictive mindset that public transport is the norm and it is not easy to own a car.

 

By allowing full bank loans, the system has created a grp of ppl who are now used to the idea that cars are easily attainable by loans and you can get 1 as a fresh grad, no problems. Earn only 2k? No prob, car loan only 500/mth ma. (50k car era)

 

Once the restrictive mindset is broken, the demand from the poor + young grp of ppl increased a lot more, adding more buyers into the market than ever before.

 

It is not good for the normal ppl in SG because I am not so sure the best way forward for a young couple is to go out there and loan 120k for a basic car, pay half mil for a resale hdb. what a headstart in life !

 

I would rather that it goes back to the previous system, at least you don't screw up ppl's lives.

Edited December 26, 2012 by Wt_know

[Maz0608]

I suggested beforre. Giving regular car owners a 5 dollar rebate off their road tax if their car does not go under any ERP gantrt to one entire calender week.

 

In order to use get the rebates, i am sure ppl will become creative like carpooling.

 

If it works, the roads will be emptier and more coes will be released. Lets face it. How much will lta lose through thr rebates? It can be earned back through more coes. But LTA REJECTED.

I wonder how many drivers are open to the idea of car pooling especially with strangers? I for one is not receptive to the idea!

[Bigbadguy]

You can think of all solution you want, but end of the day, They won't give no sh1t to your idea,

Why???

Simple because COE is helping them earn so much money. why the hell would they want to change anything,

Can earn money and can curb car population, Kill 2 birds with 1 stone. GGMBT

[Enye]

you guys still don't get it?

 

high COE and housing prices = more cash for govt now

 

higher and longer loans = more cash for govt in future

 

so from the govt's perspective

 

is the system broke and does it require changes?

 

 

 

[Ben5266]

That is why I said Coe tied to person not car. If car is lemon change car lah.

 

Now is even worse. With Coe at 80k if your current car is lemon, what to do??

 

Fun understand why Coe is tied to car not person

If car is lemon, can still recover the remaining COE + parf.

 

For COE tied to person, if the person back side ichi how? Sell car without COE and get new car without COE?

Then how to find people who has COE in hand to buy the 2nd hand car?

We will ended up with 2 2nd hand car market. 1 is for the hardware and the other is for the COE.

[Windchoco]

I wonder how many drivers are open to the idea of car pooling especially with strangers? I for one is not receptive to the idea!

 

Carpooling with strangers = public transport for me = sharing a ride with others to get to your destination

 

I m open to it if it makes sense financially but I wouldn't want to be the car owner then.

[Darryn]

yes they can, once the city centre is decentralised and there are ample employment opportinuty in every heartland, there will be less demand for transport (whether public or pte)

 

It may also make the problem worse. Jurong to City Centre or Tampines to City Centre, not so bad on Public Transport.

 

But what if going Jurong to Tampines? Then

 

Do remember that our population here is not mobile in terms of changing house to be near job

 

 

[Mustank]

you guys still don't get it?

 

high COE and housing prices = more cash for govt now

 

higher and longer loans = more cash for govt in future

 

so from the govt's perspective

 

is the system broke and does it require changes?

 

 

LIKE!!!

[Windchoco]

you guys still don't get it?

 

high COE and housing prices = more cash for govt now

 

higher and longer loans = more cash for govt in future

 

so from the govt's perspective

 

is the system broke and does it require changes?

 

 

Actually, if the Govt is wise, it should understand that the sub prime in the US was also partly because the citizens are overleveraged.

 

If every young fresh grad couple in SG earning a combined conservative 5k, has a 30 year 500k loan, a 120k car loan, + credit card loan (which is apparently to my understanding not too uncommon these days), once the economy goes the other way, I wonder if our banks + gov got enuff cash to tong. hehe

 

 

 

[Mustank]

Carpooling with strangers = public transport for me = sharing a ride with others to get to your destination

 

I m open to it if it makes sense financially but I wouldn't want to be the car owner then.

 

i dont think can collect marnie to carpool, if not wait kena catch under pirate teksi act

[Galantspeedz]

Bro, my point is the difficulties faced by men of lesser means compared to rich men in securing resources. As the depth of this rich man's character is not relevant to my point, I did not highlight it.

 

but he was also once a man or in this case a boy of lesser means....

 

 

[Mustank]

Actually, if the Govt is wise, it should understand that the sub prime in the US was also partly because the citizens are overleveraged.

 

If every young fresh grad couple in SG earning a combined conservative 5k, has a 30 year 500k loan, a 120k car loan, + credit card loan (which is apparently to my understanding not too uncommon these days), once the economy goes the other way, I wonder if our banks + gov got enuff cash to tong. hehe

[Kangadrool]

That is why I said Coe tied to person not car. If car is lemon change car lah.

 

Now is even worse. With Coe at 80k if your current car is lemon, what to do??

 

Fun understand why Coe is tied to car not person

 

Logically , tying COE to person is wrong.

 

Tying COE to car itself is far more logical since COE is for registration of a car, not a person.

 

That's why COE is rebatable is more viable (if you decide to scrap due to whatever reasons).