Car population exploded between 2006 & 2011

[Pureness]

i think there is no problem with COE, the problem is the influx of rich foreigners who are buying cars without thinking twice

so we should not fixate ourselves on fixing the supply but instead, focus on fixing the demand

[Wt_know]

that's true but the current coe system (1990) is also long overdue for overhaul

 

i think there is no problem with COE, the problem is the influx of rich foreigners who are buying cars without thinking twice

so we should not fixate ourselves on fixing the supply but instead, focus on fixing the demand

Edited January 26, 2013 by Wt_know

[Warthog]

1. those who die die want dealer to bid can sign proxy form for dealer to bid. as long as 90% self bid + 10% dealer bid ... dealer has no 100% manipulation of coe price.

 

2. $100K + $1 coe and $100K + $100K coe financing is the same. the car is sold at $100K. coe should be paid cash ! like i said pay coe as you bid. those can only afford $10k cash bid $10k. those sibei rich can bid $100k and can pay cash $100k. if a buyer cannot afford $10k $20k $30k cash for coe ... his financial status is not ready to buy "new" car. then go buy used car. as long as new coe is low, used car would be affordable.

 

3. yeah right it did not work for used car dealer because used car dealer cannot use coe to profit the car. don't tell me car price fluctuate high and low due to coe. even now a camry $70k vs $90k coe already different by $20k

 

i don't see any complication at all

 

anyway, with point 1 and 2 ... it is getting fairer in coe bidding and point 3 need not to be implemented

most importantly is hide coe current status + pay as you bid = it's only moron will bid high.

rich is rich ... they are not moron and they certainly don't want to pay $100k coe

1. Problem is most buyers prefer to leave it to dealer's to bid, unless the government bans dealers to bid on customer behalf. But how to enforce? Dealers can use your ic no. to bid for you.

 

2. Banks are willing to finance the COE portion, unless you ban all financial instiutions from financing the COE portion. If government does this, then many people will protest because this favours the cash rich. It is like saying no loans are allowed for private property purchase, only HDB purchase.

 

Read today newspaper, you see even our celebrities are willing to fork out below $2000 monthly for a new car. I agree that your suggested measures will tame the COE prices, but politically difficult to implement unless you are a dictator like Stalin.

 

If you want prices to come down for new/used cars and property, just ban financing and everything will come down (then all the tai yi long will start appearing in the black market). That is why solutions are not as simple as it seems.

[Docomospur]

Back to the original point of this thread, my take on the problem is the feast and famine approach and how it's made the COE prices fluctuate so wildly. If LTA had only controlled the number of COEs back then, we might have a more stable range of COE pricing. The current system is by no means perfect but the LTA can get things back to a better equilibrium if they manage the release of new COEs. Even with the rise in car scrappings expected from 2015, they should not just let go again.

Edited January 26, 2013 by Docomospur

[Angcheek]

As long as its a bidding system its subjected to manipulation.

 

[Throttle2]

Best is COE pay in cash, car itself downpayment at least 30%.

 

Confirm can see improvement.

 

But no.... Why would they kill their cash cow?

 

 

Yeah yeah yeah

 

[thumbsup]

 

Echo echo echo...

[Gendut]

Funny thing is motorcycle population in 2012 is around same as 2005. And it's declining. Something is not right with the motorcycle Coe quota numbers.

 

World class cities will not want 100cc motorbikes zooming in and out of their well maintain roads.

 

This poor form of transport is being slowly phased out by coe controls from the rich elites.