ARF of up to 180% - how will things change?

[Treesmaker]

Please don't penalise the rich. They got there by hard work, risky investments and good enterprunal desicions. They don't ask for Govt subidy, they don't bitch and they pay high taxes. I hope Singapore don't turn into Robin Hood i.e. rob the rich and give it to the poor.

[PaiKia-Lee]

Please don't penalise the rich. They got there by hard work, risky investments and good enterprunal desicions. They don't ask for Govt subidy, they don't bitch and they pay high taxes. I hope Singapore don't turn into Robin Hood i.e. rob the rich and give it to the poor.

 

Lets hope this govt dont spoil the young brats who just started working and want buy Audi A5 to show off based on 10 year maximum loan and $0 downpayment. The govt is doing the right thing. One of the rare good policies which favour the nation insread of those whiners.

 

If the PAP continue to roll out favourable policies like this, my vote may go back to them in 2016

[Resident]

Funny thing is that so many blaming "the rich" as if they are poor.

[Celicar]

2nd hand price also need to take into consideration of new car prices. Can't have a situation where the price different between the the new car and 2nd hand don't make economical sense. (Assuming COE will fall after this measure).

Sure. What I'm saying is the finanical ability/difficulty to buy second hand may cause less people to get car.

[Wishcumstrue]

Lui's job had to be done by a finance person...

 

Cannot blame him lah

 

Lui's department still depend on MOF budget.

 

He also LL whatever is allocated to his ministry.

 

[Wishcumstrue]

actually what is the reason for increasing the ARF (of course besides the govt getting more money)??

 

if it is due to liquidity, safeguarding bank, not taking excessive loans, the new bank loan rules have already taken care of it..

 

so why?

 

To increase the gap between the have and have-not, aside from preempting the next COE quota increase when large no. of cars get scraped.

 

[Soya]

and i dman happy i bought my dream car too last yr.....wohoooooo..keep also still smiling when i drive

 

 

we see for how long la.....u forever backside itchy one even tho porker scratch for u every nite.

 

[Wishcumstrue]

Please don't penalise the rich. They got there by hard work, risky investments and good enterprunal desicions. They don't ask for Govt subidy, they don't bitch and they pay high taxes. I hope Singapore don't turn into Robin Hood i.e. rob the rich and give it to the poor.

 

Singaporean didn't ask for R hood - they are asking what gov can help them in the price of living in Singapore.

 

Problem is while many see COE thingy as more than just another transportation or car-ownership issue, the gov prefer to ignore the social dimension and still fixated at $ solution alone.

 

In fact, when questions and suggested were tabled with regard to COE during the Population Whitepaper debate,

http://www.channelnewsasia.com/stories/sin...1251638/1/.html

 

 

Minister of State for Transport Josephine Teo was selective in her response and accepted none of the suggestions.

http://www.channelnewsasia.com/stories/sin...1252342/1/.html

 

 

[Benarsenal]

Please don't penalise the rich. They got there by hard work, risky investments and good enterprunal desicions. They don't ask for Govt subidy, they don't bitch and they pay high taxes. I hope Singapore don't turn into Robin Hood i.e. rob the rich and give it to the poor.

 

Really?

[Porker]

we see for how long la.....u forever backside itchy one even tho porker scratch for u every nite.

 

Ai smell my fingers mai

[Nonewposts]

since the increase is progressive, only those super expensive car with omv more than 50 will be affected

[Detach8]

I wrote a blog entry on this, and I think this paragraph sums up what I think:

 

The increase in ARF is relatively insignificant at this point unless you are buying a McLaren or Ferrari. The relative depreciation is only half the amount of the increase, i.e. if you are paying 10K more for ARF, the relative increase depreciation is only 5K more or about $500/year. This is because 50% of the ARF is refundable at the end of 10 years.

 

http://www.tzlee.com/blog/?p=1681

[Deckbuild]

I wrote a blog entry on this, and I think this paragraph sums up what I think:

 

The increase in ARF is relatively insignificant at this point unless you are buying a McLaren or Ferrari. The relative depreciation is only half the amount of the increase, i.e. if you are paying 10K more for ARF, the relative increase depreciation is only 5K more or about $500/year. This is because 50% of the ARF is refundable at the end of 10 years.

 

http://www.tzlee.com/blog/?p=1681

 

I think you won't get back the AARF if the OMV is above 20k, am I wrong?

[Kiatz14]

Hi, I got my car in 2009, SJX plate. I"m seems to be caught in a borderline, neither here nor there. So, for my situation how to analysis? Thanks.

[Detach8]

I think you won't get back the AARF if the OMV is above 20k, am I wrong?

 

ARF rebate has always been 50%. I don't think they described any changes to that. ALthough you may be right. Need to wait for more clarifications.

[Detach8]

Hi, I got my car in 2009, SJX plate. I"m seems to be caught in a borderline, neither here nor there. So, for my situation how to analysis? Thanks.

 

Keep it and drive.

[Kiatz14]

Thanks. Simple and straight forward. Actually, 5 mins after MAS announced the new ruling last night, my car dealer friend immediately called me up to advice me to change to a new car if possible, to maximise and prolong usage of the newly bought car for another 10 years, just before the new policy kicks in at 12 midnight. I was almost tempted to change, either to a SUV or a Conti, but after observing the market situations and the volatile policy changes, I refrained from doing so. As long as I"m happy with my current ride, irregardless of the lack of power, the lack of prestige, as long as you personally are happy with your current ride, your own personal sanctuary, I gez there"s no point in changing, nor add on more complications into an already crazy world we lived in, by getting a new car, competing for COE, contributing to exorbitant prices.

[Spring]

Hi, I got my car in 2009, SJX plate. I"m seems to be caught in a borderline, neither here nor there. So, for my situation how to analysis? Thanks.

 

Mine is SJY (2010), I'm not doing anything, just continue drive. I will only consider when its 4 years+ but then again rules/taxes etc may be different then. In short for the 3yrs and below cars, nothing to consider at this point of time in my opinion. We are lucky to have abit of time on our side unlike those say 9 year old cars or those that are in need to change for whatever reason.