How low will COE go?

[Beng2]

Look at it this way, now that the rule is one have to fork out 50% cash.

And Assuming one DO HAVE the 50% cash to pay for the car. Assuming one will reach the 50% target in six months time, then the car buyer should take the opportunity to self bid for the COE within the six months waiting period.

 

All the more one should go bid for the COE ownself. After obtaining the COE, one can go to any car dealer to negotiates for the car. Remember with the reduced car quota, every sales is a sales. Most AD will want to sell a car with a self-bid COE.( although many will still insist that AD will not give a good package if using self-bid COE)

 

Previously people refrain from bidding the COE was simply because many don't even have the $10,000 to pay for the bidding deposit.

 

Since the game plan has changed with the 50% rule.

Those who are saving up for their 50% downpayment, should take the opportunity to try and participate in self bidding for COE.

 

This is the little side benefit,in a good way, to enable buyers to set their own preferred COE price level while saving up the 50% downpayment.

If all of the car buyers that are affected by this new rule, we're to self bid for our own COE, the COE price will come down to realistic level that car buyers feel is equitable.

 

So, with the change in rule, those who don't have $10k to pay for COE bidding deposit suddenly have money to bid for COE?

[Beng2]

Kia drop price for all their cars Liao.. Forte full spec $99999. Coe rebate is $60k. On its Facebook even say got special package which can have zero down payment...

If the COE crosses certain value during open bidding, AD can always refrain from bidding till the next round. If the premium drops to $30k, the buyer will be driving a low COE car for the price he pays. Either way sounds scary to me.

 

[Leepee]

If one start saving $2,000 each month. Yes, those who intent to buy cars will have to seriously start saving.

Just need 5 months to have it.

 

 

So, with the change in rule, those who don't have $10k to pay for COE bidding deposit suddenly have money to bid for COE?

 

[Beng2]

If one start saving $2,000 each month. Yes, those who intent to buy cars will have to seriously start saving.

Just need 5 months to have it.

After saving $10k in 5 months, how long does he need to take to save up for the remaining portion of COE premium? After that, how is he going to pay for the down payment for the car (without COE)?

[Leepee]

$99,999 - $30,000 = $69,999 for the car with COE at $30,000.

What is so scary about it?

 

 

If the COE crosses certain value during open bidding, AD can always refrain from bidding till the next round. If the premium drops to $30k, the buyer will be driving a low COE car for the price he pays. Either way sounds scary to me.

 

[Leepee]

Depends on what car is he buying.

Just take the Kia at $99,999.

He will need another $40,000.

That is another 20months or less than two years.

 

After saving $10k in 5 months, how long does he need to take to save up for the remaining portion of COE premium? After that, how is he going to pay for the down payment for the car (without COE)?

 

[Throttle2]

i know u standby leow to snap up properties on fire sale [laugh]

 

I sibei buay songthe stamp duty.

 

I gotta sell one before buying another, otherwise pay yuan wang money to govt.

 

[Throttle2]

i thk many pple have put most of their $ into property liao, so alot living on rental income. Therefore, these same pple reserve any cash for future prop purchases, so 100% car loan is good coz they service it use their passive rental income.

 

Now garmen pichar their lobang, they actually have to come out "retirement" n work n save $$ for car downpayment HHAHAHAA

 

Hahaha, ho say, ole ole ole

[Hugobossy]

Rental Car and Taxi Company who have ready cash ready to take advantage of the falling COE...

[WTF]

See working w dead got its privileges

only disadvantage is every year got 1 month they might visit you to complain about your services.......

[Yeshe]

I sibei buay songthe stamp duty.

 

I gotta sell one before buying another, otherwise pay yuan wang money to govt.

 

use proxy lah

[Alheych]

Remember the phrase that dealer use so much in the past to "scare" buyers

"Buy now , dont wait, COE will continue to rise."

 

Wonder if they will continue to use it....

 

methinks this phrase alone contribute at least 5% to inflation rate

[Maseratigood]

The 31 yr old doc certainly has his priorities different from that of some people. But since it's basically a case of 「关你屁事」，there is nothing more to say.

Edited March 1, 2013 by Maseratigood

[Mllcg]

Aiyah, how many cars does a person need.

 

Cash rich also wont spend stupidly.

Actually its the non cash rich that usually spend stupidly.

 

i agree with this point.

 

my cash rich also will only buy 2 cars.

 

1 to chiong.

 

1 for comfort.(also sporty la)

[Adis]

if I'm cash rich, I will buy one for family drive, one for sporty drive and another for Malaysia driving! hehehe!

[Adis]

nowadays, I see so many electric-powered bicycle on the road. I think it's time we bring in cheap and small-sized electric-powered car into Singapore with no COE! something like this will be just right in Singapore.

 

 

and imagine being powered by a mini sized v8 engine like this.

 

That's the creator by the way!

 

Conley Stinger 609, a new quarter-scale V8 with supercharging, 100 cc (6.09 cu. in.) displacement, and a power output of 9.5 horsepower at 10,000 rpm. Sounds wrong with the right engine sound. I really don't mind travelling at 80km/hr. reversing the car means manually push the car like a bike also can. cars like this should be given a push in Singapore.

 

COE should not be applicable for cars like this, just like how electric bicycles are currently on the road. anyone agrees with me?

[Cba6p]

if COE below 30k is tat means many will scrap their <2 YO car?

[Wt_know]

if you are rich, are you willing to pay additional $250k-$300k 140-180% ARF?

 

a $1.25M felali becomes $1.5M and requires $750K downpayment ... hehehe ... throttle also no likes