How low will COE go?

[Benarsenal]

Shouldn't stop one from working hard to achieve their goals. No point worrying over things we can't control.

 

Seems a bit fruitless to work for something you know you're never going to get.

 

There are alternatives of course. Just a matter of how much you want it.

[Mercs]

Next bidding is on 11th March, let's see how the COE price react to the new ruling.

Will crash, who going to buy new car now?

 

[Spurman]

Chill...

 

Both of u guys prob misinteprete each other lar. Just relax n take it as a pinch of salt.

 

To be frank, Korean cars r really getting reliable. Also Japanese cars have lost their appeal.

 

We dun just see the Singapore side. Even malaysians are slowly raving over the elantras, sonatas, fortes.

In Europe, the Koreans have caught up.

Overall Hyundai group have become one of the top 5 auto makers which says a lot of their abilities.

 

End n peace

 

1. As i said , don't roti prata . Don't come debate lose nia change topic. You claim i am doing it based on assumption, that's your assumption. If you are doing the assumption , it is damn right dirty to accuse others of and wash your hands off it. Seriously no respect for people which do that.

 

 

 

 

2. As i mentioned , an occasional lemon , do you have facts to support your "assumptions" the Kia is actually AS RELIABLE? Again pure assumption , since you are assuming everything , how can one accuse others of that? Seriously acts of denial in progress , he her him it , but never me. How to make it in life doing this kind of thing. No backbone one. 30months nia no problem means 10 years no problem? I have seen 2 toyota corollas over 20 years driven to scrap with no problem in my family. So don't come talk c--k by telling me 30months is a big thing. Tell me that when you cross your 5th or 7th year.

 

3. That sentence was meant for the others comparing the bmws and stuff.

 

 

 

 

4. Don't come and mother father story la. Pull out so much number only to burst straight in the face. Don't change the topic , TELL ME IF YOU KNOW ? Seriously LOSER don't know , don't propose this kind of crap only to self pawn. Seriously , no offense , i don't see how your life will improve doing this. That said i am lucky i am not your friend , boh dai boh ji kana dragged in for nothing.

 

5. Well glad that you understand my point, things are never equal , so suck it up. Seriously don't roti prata yourself. Self pawn again.

 

[Camrysfa]

Used cars today on SGCarmart are still asking the same prices as last week. Haven't seen much price drop yet.

 

 

...oops, do they really change real time?

[Camrysfa]

The car market whether new or used still havent got over the 'shock' yet. Think they need sometime to adjust their price and see the effect on the new ruling.

 

 

i think those who bought in the last 9 miths are not at peace. Those eased out by the new measures are cursxxx. Car ownership is SG is real messy with no consistent pricing.

 

 

[Deckbuild]

i think those who bought in the last 9 miths are not at peace. Those eased out by the new measures are cursxxx. Car ownership is SG is real messy with no consistent pricing.

 

Agree, there are so much panic buying everytime new measures come out... the new measures come out again just before everyone recover from the shock...

[Wormvirus]

those panic r those with no savings rely on monthly pay to clear installments

 

just like a hdb stayer parking his used bmw two step away the roadside to the coffeeshop so that everyone knows he owns it

Edited February 26, 2013 by Wormvirus

[EZ128]

I tink it is the right directions they are heading (hopefully)... Cars are luxury items (regardless of brand) not necessity, we muz move out from the concept of 5Cs else we are not going to move forward. Singaporeans muz know success don't necessary mean having 5Cs.

 

I read this post with a grin on my face, another c--k talker

If success don't necessary mean having 5C then mean what?? Earn and save and donate to charity or everyday go update bank book count how many zero or ??

If one is rich enough to live in high end property and drive luxury car then why would one give up such comfort? When I say rich enough means literally cash rich even after buying such high value items.

It is those who are half bake where their 'rich' can only afford one but not the other then they will act act say stay hdb better than staying in condo or landed because hdb got government subsidies, drive Camry say bmw and merc high FC blar blar blar...

I have met enough such people to tell u this and I will always hint to them 'can't afford say can't afford don't talk c--k sing song'

Having no motivation no dream no desire then really a society is not going to move forward

China is a typical example, why do you think they move away from communist rule?

Edited February 26, 2013 by EZ128

[Tron]

My gutfeel is that those looking for a substantial drop in COE premium because of the new ruling by MAS will be disappointed.

 

The current COE quota is already cut to an extent that it is at an all time low while demand out stripping supply by a lot. Even though this maybe boosted by the new MAS ruling, it will cause more players in the budget group to drop out since not many can afford to pay up so much cash upfront. However, in the first place, I feel more of the current buyers with the current COE quota belongs to the more affluent group. Even much of the vehicles sold in CAT A came from smaller vehicles from Mercs, BMW and Volvo where prices is typically close to 200k or more. The new ruling will only weed out rest of the buyers in the bread and butter segment which does not account much for the current car sales in the first place.

 

My estimation is that the drop in premium will not likely be more than 20K from current. Probably hovering around 60k for CAT A, and 75K for CAT B.

 

I couldn't agree more with ur assessment: the current crop of buyers still in the market for new cars are largely affluent.. While those at the "bottom rung" fresh grads who are newly out in the workforce (who likely believe they will have future earning power) will either have to scrap their plans for that Entry level BMW/merc/Audi and buy a cheaper brand OR if brand is so impt for face value they will opt for 2nd hand german car.

 

In the 1st place Those marginal buyers are too minimal to have an impact in the new car segment with such high COEs regardless of change of LOan % (how many are crazy enough to think they can afford a 80K COE over 10yrs?.).. And with a record low supply of COEs and intake of new and rich citizens... It's very likely CoEs won't drop much.

 

Don't forget tat the rich do not typically own only 1 car..... Even if not willing to spend on expensive cars will still buy 2 cars.. 1 for wife, 1 for husband. And the rich will continue buying even with high COEs. Those filthy rich.. At least 3 or even 6 cars. With only 300 COEs per bidding.. U think their impact is not great? How many millionaires does SG have?

 

[Jamesc]

I don't think COE will come down,

 

I think it will just go up.

 

If COE comes tumbling down,

 

I will eat my words, admit I am wrong

 

and punish myself for being wrong

 

by buying a new car.

 

[Angcheek]

hahahaa

 

I guess , Cat B will come down.

 

Cat A will remain high.

 

 

While COE may drop , LTA rev will remain ok by sucking blood from ARF.

 

 

Edited February 26, 2013 by Angcheek

[Arabica]

According to ST, Tan Chong says at least 50% of their buyers borrow 60% of car loan

I think I saw someone post the article from the Chinese papers. It was a high number that took 100% loan and 10 year tenure as well - something like 4 out of 10 customers ( i cant find that post...sorry)

So, new rules could take out a large chunk of demand who cannot afford

 

on supply side, current quota remains low.

but supply side should start to increase H2 2013

then floodgates open in 2015-2016 - i am sure alot of MCF bros already know this

but just in case, anyone missed it

refer to link http://www.mycarforum.com/index.php?showtopic=2669019

http://motoring.asiaone.com/print/Motoring...914-299419.html

 

maybe there could be $1 COE in the next 1-2 years

esp if you factor all the Euro risk

Singapore GDP growth was only 1.2% last year

I hear alot of people kenna chop in the banks as well

 

anybody want to try for $1 COE in the 1st bidding after the measures?

maybe all the last minute registrations last night will provide some support

maybe $1COE in the 2nd bidding in march

 

haha.... if everybody try then it will not be S$1 COE...

 

[Angcheek]

2015-16 is GE period ... im sure p@p is playing their trick again at then.

 

With all the rich FT flooding in, I double COE will drop that low , maybe at 50% .

 

Unless there is a world crisis .... N.KR e.g.

[Rezorn86]

now till may i guess around 30% drop

[Yeshe]

I read this post with a grin on my face, another c--k talker

If success don't necessary mean having 5C then mean what?? Earn and save and donate to charity or everyday go update bank book count how many zero or ??

If one is rich enough to live in high end property and drive luxury car then why would one give up such comfort? When I say rich enough means literally cash rich even after buying such high value items.

It is those who are half bake where their 'rich' can only afford one but not the other then they will act act say stay hdb better than staying in condo or landed because hdb got government subsidies, drive Camry say bmw and merc high FC blar blar blar...

I have met enough such people to tell u this and I will always hint to them 'can't afford say can't afford don't talk c--k sing song'

Having no motivation no dream no desire then really a society is not going to move forward

China is a typical example, why do you think they move away from communist rule?

 

so u mean success = materially rich?

[Throttle2]

Don't know why some of you guys are getting worked up about these new measures, and feeling sensitive about Throttle's or RadX's remarks. If a 100K new car means having to fork out 50K in cold cash and a huge hit on the pockets, why not go for a 50K car instead.

 

For those who really need to own a car (special needs, family needs, wahtever needs) is there a 'need' to go for a conti or expensive marque? Does your family need to be ferried in a Volkswagen Sharan, when a Toyota Picnic can do the same? The second hand market is filled with examples of decent cars within reasonable budget. Sadly if budget is an issue, we have no choice but to throw away our wants and desires when looking for a vehicle.

 

I'm pretty much a 26 yr old from the strawberry generation, though i don't fall into the category of easy credits and over-leveraged individuals (thankfully). I'd love to own a Maserati Quattroporte tomorrow in fact, but i can't and don't have the resources to pay 90K downpayment for a 2007 model, much less afford the monthly installments thereafter. But it doesn't mean i can't get one in the future right? I'll settle for an 06 Ford Focus for now. In full cash mind you. :P

 

Rule of thumb - Just go with whatever you can afford.

 

Well said, my young Jedi.

Well said!

[Throttle2]

I read this post with a grin on my face, another c--k talker

If success don't necessary mean having 5C then mean what?? Earn and save and donate to charity or everyday go update bank book count how many zero or ??

If one is rich enough to live in high end property and drive luxury car then why would one give up such comfort? When I say rich enough means literally cash rich even after buying such high value items.

It is those who are half bake where their 'rich' can only afford one but not the other then they will act act say stay hdb better than staying in condo or landed because hdb got government subsidies, drive Camry say bmw and merc high FC blar blar blar...

I have met enough such people to tell u this and I will always hint to them 'can't afford say can't afford don't talk c--k sing song'

Having no motivation no dream no desire then really a society is not going to move forward

China is a typical example, why do you think they move away from communist rule?

 

 

You know something?

 

I like you already...

 

So much like a younger me in MCF years ago.

 

 

 

 

 

Note: this doesnt mean we share the same opinions on success

Edited February 26, 2013 by Throttle2

[Felipe]

Well said, my young Jedi.

Well said!

yea, seems like ppl think sure cannot buy car. but cmon, there's picanto, chery, getz etc. buy those 3 years left type and only 10k down. so all's not lost if one hates public transport so much. just be realistic about car choice.

 

We can still drive! Don't give up on cars yet!